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

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805orbust
Valued Contributor

Re: FNBO CLD

I was always suspicious of those comments as well. I am still unwilling to let "closed by credit grantor" on my reports. 


Message 21 of 285
mortimerwereback
Regular Contributor

Re: FNBO CLD


@difringe wrote:

@Doodlebug30 wrote:

So I call up FNBO bc I hit the 4 months mark and wanted to try for a CLI. They said no bc my account was just CLD. HUH?? I have never had a cld on any account ever and I have no missed payments or late payments on their acct or any other. No changes to my credit which sit around 765 and I'm seriously baffled. I opened the card 10 months ago. I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150. So balance chased? But why?? So, paid off that card and I'm closing it today. I am pretty mad bc they did this right at statement cut and now it shows I have a card at 95% utilization. Should I let one more statement generate (with a zero balance) or just close it now? I really want to close it now but I want what's best for my fico ... Thanks. 


Btw, similar thing happened to me today. I got the FNBO Evergreen card back in Dec 2021, had an increase some time this year to $16,500. I paid off the initial balance transfer (and purchases) that I made on the card (I had like $9k on it because of the 0%), but since purchases are 0% for a year, I put $2k on this card over the past couple of months. Statement cut yesterday with the $2k on the card and showing the limit of $16,500, but today I got an Experian alert that the card was CLD to $2400.  Similar to OP, I'm just going to pay it off next month and not use the card again, that's no way to keep a customer IMO. 

 

FICO scores have remained in the same range (720s) as has my total overall balance (around 20% utilization). I have no card reporting as over 88% usage except this card (if they report with the new limit).  Been in the garden since December 2021, so no new inquiries or accounts. Very strange behavior.

 

Edit: If you check their reviews on WalletHub, there are plenty of people reporting similar behavior, so I guess this is just how FNBO rolls. Will keep that in mind if in the future they have another FOTM card.


Agree. What a poor way to run their business. I wonder if it's a person doing the CLDs or some kind of software.

"Only those who dare to fail greatly can ever achieve greatly." -Robert F. Kennedy

Message 22 of 285
mgood
Established Contributor

Re: FNBO CLD


@difringe wrote:

Yea, that's partially why I shared. Better to have more information than to go off presumptions. This was a FOTM card on here, I'm curious how others' interactions have gone, we should have plenty of DPs here.


My experience has been good. Pre-qualified for and then approved for $11.3k. I wasn't going to app for it. Didn't really need it. But the pre-qual just looked too good. That's my highest SL ever and was at the time my 2nd highest limit. After 6 months got a $5k SP CLI making $16.3k and once again my 2nd highest limit. I've been carrying 30-40% balances because I'm still in the 0% APR period. Got it down to 29% the other day, just in time for the statement. No complaints so far.

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Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 761, TU8 743, EX8 759 as of Dec 5
Goal Score: EQ8 780, TU8 780, EX8 780

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Message 23 of 285
805orbust
Valued Contributor

Re: FNBO CLD

I agree @mgood . I've had a great experience thus far and it's a straightforward rewards process.  That mess is crazy tho... wonder if there's another shoe dropping on op's profile.


Message 24 of 285
James3
New Contributor

Re: FNBO CLD


@BearsCubsOtters wrote:

I am not sure if we are allowed to post reddit links; but there was someone on 9/13/2022 who posted to r/CreditCards that his Evergreen was CLD from $15,000 down to $500 after 6 months.

 

I do not think he ever updated the thread with an official letter from FNBO; however, he claimed that he spoke to them over the phone and was told that the CLD was due to AZEO. Because his account never cycled with a balance, they felt his credit line was too high (?).

 

Who knows for sure, but yours and his are the only ones I have heard of so far. As others have said, I would request your free credit reports to see if anything has changed.


I've never heard of this possible downside to AZEO. Do I need to occassionally let all accounts post a balance to show the bank that I "need" the credit? I tend to use AZEO every month. I use each card monthly, but it's always my most frequently used card that posts a small balance. I suppose it wouldn't kill my scores to allow my other cards to post a balance every few months.

Message 25 of 285
difringe
Established Contributor

Re: FNBO CLD


@mgood wrote:

@difringe wrote:

Yea, that's partially why I shared. Better to have more information than to go off presumptions. This was a FOTM card on here, I'm curious how others' interactions have gone, we should have plenty of DPs here.


My experience has been good. Pre-qualified for and then approved for $11.3k. I wasn't going to app for it. Didn't really need it. But the pre-qual just looked too good. That's my highest SL ever and was at the time my 2nd highest limit. After 6 months got a $5k SP CLI making $16.3k and once again my 2nd highest limit. I've been carrying 30-40% balances because I'm still in the 0% APR period. Got it down to 29% the other day, just in time for the statement. No complaints so far.


this was basically my experience until i paid it off completely and then left a balance on it

Message 26 of 285
Kforce
Valued Contributor

Re: FNBO CLD


@difringe wrote:

Yea, that's partially why I shared. Better to have more information than to go off presumptions. This was a FOTM card on here, I'm curious how others' interactions have gone, we should have plenty of DPs here.


My DP

Have had an FNBO 2% cashback card for 5 or 6 years.

Have received better general use reward cards  and only use it for less than $40 every couple months.

Auto charges for meds.

This has been it's use for over 2 years.

Started with 20k and so far no CLD, etc.

Pay it off a day or so after posting, always a zero reporting.

Have 1 new card / year.

 

 

Message 27 of 285
SouthJamaica
Mega Contributor

Re: FNBO CLD


@BearsCubsOtters wrote:

I am not sure if we are allowed to post reddit links; but there was someone on 9/13/2022 who posted to r/CreditCards that his Evergreen was CLD from $15,000 down to $500 after 6 months.

 

I do not think he ever updated the thread with an official letter from FNBO; however, he claimed that he spoke to them over the phone and was told that the CLD was due to AZEO. Because his account never cycled with a balance, they felt his credit line was too high (?).

 

Who knows for sure, but yours and his are the only ones I have heard of so far. As others have said, I would request your free credit reports to see if anything has changed.


I'm skeptical. I really don't believe that FNBO lowered someone's credit limit because they paid the balance before the statement cut.  FNBO knows exactly how much usage the card received, and doesn't need to see the statement balance to know how much that is.

 

 


Total revolving limits 721200 (619200 reporting) FICO 8: EQ 725 TU 723 EX 700

Message 28 of 285
SouthJamaica
Mega Contributor

Re: FNBO CLD


@M_Smart007 wrote:

@longtimelurker wrote:

@M_Smart007 wrote:

@SouthJamaica, I know it is early, you may want to re-read OP's post.?

 

"I'm carrying a 0% balance of about 3k of 16,500 limit. They slashed my limit to 3150"

 


OP also says:  

 

So, paid off that card and I'm closing it today


They posted that after the fact.


Yes, but before I read their post. As you can see from the post I quoted.


Total revolving limits 721200 (619200 reporting) FICO 8: EQ 725 TU 723 EX 700

Message 29 of 285
SouthJamaica
Mega Contributor

Re: FNBO CLD


@James3 wrote:

@BearsCubsOtters wrote:

I am not sure if we are allowed to post reddit links; but there was someone on 9/13/2022 who posted to r/CreditCards that his Evergreen was CLD from $15,000 down to $500 after 6 months.

 

I do not think he ever updated the thread with an official letter from FNBO; however, he claimed that he spoke to them over the phone and was told that the CLD was due to AZEO. Because his account never cycled with a balance, they felt his credit line was too high (?).

 

Who knows for sure, but yours and his are the only ones I have heard of so far. As others have said, I would request your free credit reports to see if anything has changed.


I've never heard of this possible downside to AZEO. Do I need to occassionally let all accounts post a balance to show the bank that I "need" the credit? I tend to use AZEO every month. I use each card monthly, but it's always my most frequently used card that posts a small balance. I suppose it wouldn't kill my scores to allow my other cards to post a balance every few months.


If I were you I wouldn't take it seriously. I'm sure FNBO's reason for the CLD was not that OP was reporting zero balances.  FNBO knows exactly how much usage the card receives each month, regardless of whether the charges were paid off before the statement cut or after.


Total revolving limits 721200 (619200 reporting) FICO 8: EQ 725 TU 723 EX 700

Message 30 of 285
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