FNBO Platinum Edition Stagnant Limit

[Waldemar]

In July 2021, I acquired an FNBO Secured Card with a $500 limit. By March 2022, it received an automatic increase of $150, becoming an unsecured "Platinum Edition" by April 2022. However, the card has remained stagnant at a $650 limit. Any attempts to request a higher limit have been declined (I can't recall the reasons), and I've refrained from making further inquiries to avoid unnecessary hard pulls on my credit report. At this point, I'm contemplating whether to keep the card stored away or to close it altogether. I use it occasionally for small purchases, but not as much as it doesn't earn any rewards, but I am leaning towards closing it.

It reminds me of Capital One with some of their bucketed cards. Has anyone else encountered a similar situation with FNBO?

[Shooting-For-800]

FNBO can be very generous and they can be very tight depending on how they see your profile.

Plenty of great limits and auto CLIs but also plenty of AAs as well on here.

I would keep using it and paying it and not stress out about it.

GL!

[Anonymalous]

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@Waldemar wrote:

In July 2021, I acquired an FNBO Secured Card with a $500 limit. By March 2022, it received an automatic increase of $150, becoming an unsecured "Platinum Edition" by April 2022. However, the card has remained stagnant at a $650 limit. Any attempts to request a higher limit have been declined (I can't recall the reasons), and I've refrained from making further inquiries to avoid unnecessary hard pulls on my credit report. At this point, I'm contemplating whether to keep the card stored away or to close it altogether. I use it occasionally for small purchases, but not as much as it doesn't earn any rewards, but I am leaning towards closing it.

It reminds me of Capital One with some of their bucketed cards. Has anyone else encountered a similar situation with FNBO?

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FNBO is a fairly small regional bank, not a too-big-to-fail monstrosity. They're also privately owned, not pubicly traded. So it's not a surprise can be a little skittish when they're worried about something (like the economy), which they proved last year with a wave of CLDs.

But in your case, it may be the number of cards. You have a lot, and many smaller institutions are hesitant when someone has a lot of new tradelines, or just a lot of tradelines in general. I don't know if FNBO is like that, but it seems probable. In my case, my Evergreen started with less than a $4K limit in early 2022, and has grown to more than $14K today. But I had 2 cards when I applied, and I have 5 today.

[CorpCrMgr1]

Thank you for your experience with FNBO. I head to the dealership for routine maintenance tomorrow. I'm always tempted to apply. Now I won't be at all. 

[captainsensation]

They finally gave me a CLI a little while back. I would also suggest calling them and requesting a CLI. They do soft pulls over the phone and ask for consent to do a hard pull if the soft pull is denied.

[Waldemar]

Good to know. I shall do that... Thank you.