FNBO Credit limit decrease

[Writechecks1]

Hey guys

just logged in and I see they decreased my credit limit from $7000 to $1200. Very upset about this. Always PIF. Spent $2000 a month on this card.  Had it for about a year. 
I called up and they said they pulled my fico score and it no longer qualified me for $7000. My fico score is 729 as of now (across all 3)

anyways. May just cancel the card and go elsewhere. Always wanted an American Express card.

for reference. I have no baddies. And utilization is at 26%. 

[bigseegar]

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@Writechecks1 wrote:

Hey guys

just logged in and I see they decreased my credit limit from $7000 to $1200. Very upset about this. Always PIF. Spent $2000 a month on this card.  Had it for about a year. 
I called up and they said they pulled my fico score and it no longer qualified me for $7000. My fico score is 729 as of now (across all 3)

anyways. May just cancel the card and go elsewhere. Always wanted an American Express card.

for reference. I have no baddies. And utilization is at 26%. 

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I'd bet it's your UTL at 26% more so than the credit score that spooked them

[Namaste7]

@Writechecks1 sorry to learn about the FBNO CLD. Were there any significant changes to your profile in the last year? Any changes in your spending (e.g., dramatically increase) or payments (e.g., dramatically decrease) with FBNO in the last year? 

Don't forget to pay the balance down to zero so you don't have a card reporting at 100% utilization. 

[Writechecks1]

No nothing has changed since last year with regards to my credit report. 

[OmarGB9]

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@bigseegar wrote:

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@Writechecks1 wrote:

Hey guys

just logged in and I see they decreased my credit limit from $7000 to $1200. Very upset about this. Always PIF. Spent $2000 a month on this card.  Had it for about a year. 
I called up and they said they pulled my fico score and it no longer qualified me for $7000. My fico score is 729 as of now (across all 3)

anyways. May just cancel the card and go elsewhere. Always wanted an American Express card.

for reference. I have no baddies. And utilization is at 26%. 

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I'd bet it's your UTL at 26% more so than the credit score that spooked them

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And yet, 26% isn't even all that bad...

[Drifter73]

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@Writechecks1 wrote:

Hey guys

just logged in and I see they decreased my credit limit from $7000 to $1200. Very upset about this. Always PIF. Spent $2000 a month on this card.  Had it for about a year. 
I called up and they said they pulled my fico score and it no longer qualified me for $7000. My fico score is 729 as of now (across all 3)

anyways. May just cancel the card and go elsewhere. Always wanted an American Express card.

for reference. I have no baddies. And utilization is at 26%. 

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Curious, how many cli's did you manually request on it? Or were they all automated?

Additionally. Which FNBO card was it?

I ask because I have 2 FNBO cards (Evergreen and BestWestern). I've also heard that automated increases are less likely to CLD than manually requested ones.

Just trying to collect datapoints to confirm.

[mfinsmi1]

Not sure why people are suprised by this still.. plenty of posts around that show this creditor constantly slashes credit limits for no reason. Their explanation is BS , they doing it to everyone. Im thankful i never got this card. 

[Remedios]

I don't know where these surprised "people" are but in OPs case, there was a significant app spree right around time of FNBO approval, it continued post-aporoval, there has been significant score decline   aggressive CLI requests (while there may not be a HP, they can see multiple CL changes indicating additional credit seeking - no, they won't assume that those are auto increases).  

We can all get mad, sit in a circle while singing how horrible lender is, it won't change the fact there is always a reason for AA, algorithm doesn't wake up on the wrong side of it's hard drive and decides to randomly perform AA. Conditions for AA are set according to risk mitigation standards, if one meets those conditions, AA happens.  

[SouthJamaica]

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@Writechecks1 wrote:

Hey guys

just logged in and I see they decreased my credit limit from $7000 to $1200. Very upset about this. Always PIF. Spent $2000 a month on this card.  Had it for about a year. 
I called up and they said they pulled my fico score and it no longer qualified me for $7000. My fico score is 729 as of now (across all 3)

anyways. May just cancel the card and go elsewhere. Always wanted an American Express card.

for reference. I have no baddies. And utilization is at 26%. 

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Seems like bad business to take an account which spends $2k a month and pays in full, with 729 FICO scores, and reduce its credit limit from $7k to $1200. Sounds nuts to me.

[gdale6]

That excuse is bs, I had 13K CL with less FICO score than that. They dont like the 26% utilization and credit seeking behavior.