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FNBO CLD ****Master Thread****

distal_cluster
Established Member

Huge CLI Reduction, FNBO Evergreen

I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:

  • Ratio of balance to limit on bank rev or other rev accts too high
  • Length of time revolving accounts have been established
  • Too many inquiries last 12 months
  • Amount owed on revolving accounts is too high

Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.

 

This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.

 
  
Message 271 of 301
gdale6
Moderator Emeritus

Re: Huge CLI Reduction, FNBO Evergreen


@distal_cluster wrote:

I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:

  • Ratio of balance to limit on bank rev or other rev accts too high
  • Length of time revolving accounts have been established
  • Too many inquiries last 12 months
  • Amount owed on revolving accounts is too high

Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.

 

This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.


Im sorry to hear this. Thought it had quieted down over at FNBO but it appears they are keeping the cuts coming. Seems that they are cutting the ones who dont have a lengthly relationship with them.

Message 272 of 301
SouthJamaica
Mega Contributor

Re: Huge CLI Reduction, FNBO Evergreen


@distal_cluster wrote:

I am 9 months into my relationship with FNBO, and I received an unexpected notice today that my credit line has been reduced to $500, 3% of what it was. FICO (TU) is currently >800. Card was originally $15k with auto CLI to $16.5k a few months ago. Reasons given are:

  • Ratio of balance to limit on bank rev or other rev accts too high
  • Length of time revolving accounts have been established
  • Too many inquiries last 12 months
  • Amount owed on revolving accounts is too high

Since the date that they obtained score (752), all of the revolving accounts have since been paid to <2% utilization. I had some not out of the ordinary spend with other revolving accounts that did hit the reports. No single card over 50% and total under 25%. I also used a small portion on Evergreen, which was paid to zero months back. Customer service rep stated that the limit cannot be re-evaluated for 4 months.

 

This makes the card fairly useless for me. I am confused, as they have my income information already and could easily have called to verify again. Moreover, all of the spend referenced above was covered in cash accounts. I understand it's risk mitigation, but beware if you are relying on this card. No such changes were made to my accounts at any other financials.


All I can say is they are crazy.  This is ridiculous, and unfair. You're not confused; it's FNBO that's confused.


Total revolving limits 741200 (625200 reporting) FICO 8: EQ 704 TU 713 EX 689

Message 273 of 301
805orbust
Valued Contributor

Re: Huge CLI Reduction, FNBO Evergreen

They literally are crazy. I was looking at my statement yesterday and realized that my interest rate for purchases is 0.0%.  Card is only 11 months old so there must be an introductory rate at work presently. 

 

I was also told by a CSR back in September that I'd be eligible for my next increase this month.  When I click on "Credit Line Increase" it tells me I have no eligible accounts. So they're not even letting me ask at this point... No rhyme or reason with these guys.



Message 274 of 301
Anonymous
Not applicable

Re: Huge CLI Reduction, FNBO Evergreen

Always have been hesitant about FNBO and it goes way back to when they were the AAA Visa Card issuer for the AAA Midwest Group.

Interest rates were always high, and rewards were not much. Cannot actually pin anything down (flip flopping like a fish on a frozen lake here)? Customer service was the best and all US based in Omaha Nebraska or Yankton South Dakota.

Truth, their credit actions of late are surprising.

 

They used to be conservative in the beginning and allowed slow growth over time based on performance, DTI along with they were not keen on the pursuit of new credit. Like a low CL $1,000+ and the start awarding CLIs in smaller amounts and converting regular credit cards to Signature after a $5K limit was achieved.

The problems they got into around 2016 was how they handled credit life insurance for credit cards, and the bank owners (private) cleaned house on the related management. As I sit here, I wonder how the family did not know?

All this really is a surprise Smiley Sad

 

One thing they seldom did was open their bank to the general credit market. They stuck to their bank foot print of seven states!

 

Exceptions were credit marketing (beyond the banking market foot print) with pre-screened apps and co-branded cards for small banks. They were conservative. A few times between Halloween and News Years they allowed out of the banking foot print area credit card applications to the general population but, you had to seek them out as they did little to advertise. This was not done every year!

 

How I know all this is, I decided to track First National Bank of Omaha as a curiosity! Follow them regularily ever since! Also, I became a card holder due to co-branding and an outside the market area pre-approved credit application. Later, slipped through the door back in 2017 when they dropped the iron curtain for a few weeks around the holidays! That was when they offered a 2% Cash Back Visa Credit Card (not the Evergreen Card) but in actuality, it is the exact same card with higher minimum interest rate and the Terms & Conditions read the same.

Message 275 of 301
805orbust
Valued Contributor

Re: Huge CLI Reduction, FNBO Evergreen

@Anonymous wow... just wow.



Message 276 of 301
uncredited
Frequent Contributor

Re: Huge CLI Reduction, FNBO Evergreen

This thread had gone away, and I was originally bummed that they'd denied me since they have a cobrand that would save me more money than any other card, thinking this stuff was just a momentary thing last month.  But even if these stories are a tiny minority, I'm starting to feel like they helped me dodge a forest green bullet. I've always been very uneasy about them, but without enough knowledge to really know why.  The more of these random removals of credit for no real reason I see the more I think they'd have to pay me to take an account with them.  Trouble is, they would... I'll be watching this for the next year, the soonest I could retry them.  Maybe they'll calm down and seem decent again.  Otherwise it'll be a tough debate of if saving hundreds a year is worth dealing with....this... Greed tells me yes, but calm sense tells me I'd pay that much to not have to deal with the stress and uncertainty. (For the curious, they denied for thin file and I needed more accounts (with their competitors) first. So I have one foot into this mess but fortunately walked away with only an HP and not a ruined CL on a thin file.)

Message 277 of 301
TryItAgain
Regular Contributor

Re: Huge CLI Reduction, FNBO Evergreen

I cannot figure them out.  Me and my wife both have our own Evergreens, with nearly identical spending patterns, both started at $15k.

 

Hers got CLD' and is now 11,600 while mine had gone up twice to 18k, then to 23k just recently, I honestly can't see the difference, similar scores, usages, payment history, overall profile etc.

 

NFCU Platinum 50k | NFCU Flagship 20k | NFCU More Rewards 10k | NFCU NavChek PLOC 15k | PenFed Power Cash 25k | PenFed Gold 15k | PenFed Pathfinder 10k | PenFed OLOC 3K | GTE Financial CU 15k | VyStar CU Cash Back 25k | FNBO Evergreen 23k | FNBO 8.5K | BofA Cash Rewards 10.1k | Capital One Venture 13k | Capital One QS 7k | PNC Cash Rewards 11.5k | Citi Costco 7k | US Bank Cash+ 10k | Discover 14.8k | Discover 14.1k | Regions Cash 6k | Truist Enjoy Cash 9k | Elan Max Cash 7k | Amex BCP 3K | Amex BBC 25k | Amex BBP 22k | Amex Business Platinum 30.4k | Citizens Business Everyday 35k | Sams Club Business MC 25K | US Bank Business Plat 24k | Capital One Spark 2% 22k | Marcus GM Business 12.5k | Capital On Tap 10k | Chase Ink 3k | Divvy 7k | PNC BLOC 50K | Citizens BLOC 50K | WEX Business Access Fuel 30k | Sams Bus Store 25k | Floor & Decor Business 20k | Lowes Store 30k | Sleep Number Store 13.5k | Home Depot Store 10k | Amazon Store 10k | Care Credit 15k | Walmart Store 6k | JCrew 25k | Jared 18.6k | King Size 4k | CFNA Tires Plus 3.2k
Message 278 of 301
Kforce
Valued Contributor

Re: Huge CLI Reduction, FNBO Evergreen

My daughter and I are still floating around in a life raft.

Waiting to see if FNBO lets the air out.

Older 5 year card and new evergreen.

Ultra low spend but nice Fico's, no other new account's, or inquiries and < 1% utilization on any all cards.

Was going to close the card early next year but now want to just see what they do with me.

Human nature is so weird !

 

Message 279 of 301
TheVig
Regular Contributor

Re: Huge CLI Reduction, FNBO Evergreen

I have 3 cards with FNBO. I have not had the probelems many are reporting.

 

The cards I have are as follows:

 

FNBO Rewards Singnature Visa. Got the card back in 2015 when they were targeting rebuilders. CL started out at $1500. Two months after that, I requested online a CLI. They bumped it up to $10k. I've never asked for another increase since. Highest charge on the card ever was just under $100 when I first got the card. Since then, it sees a charge for less than $5 every two months or so to keep from getting the use it, or lose it letters/emails.

 

Back in October, FNBO took over my Amtrak cards from BofA. The limits stayed intact. $10k on the no AF card, and $13k on the AF Preferred card. The no AF card sees only a monthly charge of less than $10 for a streaming service. The AF card on the other hand sees $500 to $4k a month.

 

All three cards are PIF every month, and 99.9999% of the time before the statements cuts.

 

I have close to $500k available over several cards. Never have paid a penny of interest on any of them. PIF usally before statements cut. On any given moment in time, less than 1% utilization is reporting overall. No lates ever.

 

Last week I called into FNBO to ask a question about making my due date the same on both my Amtrak cards. The CSR on the phone was friendly and kinda falling all over herself complimenting me on my usage and payment history.

Message 280 of 301
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