Getting Bucketed By Local Bank

[Anonymous]

My first CC was through my local bank about 2.5 years ago, $1k Visa Classic, no frills 21% APR card. Highest charge: $216 immediately paid after charging $0 statement, all other months $6-$10, PIF day after statement rolled. Anyway, decided to try increasing credit, poke the CLI button... Denied with a HP on my EQ (769 on the denied paperwork). Guess they didn't like that they never earned interest off me. I get angry, drop several apps, boom boom boom, now I have 4 other cards, highest is $3.3k, they didn't seem to want my business so I'll go elsewhere. This is what caused my original app spree, and studying credit, etc.

Today, a month later... I decide to give it another shot, it's my local bank, been with them 4 years. They also offer Visa Signature cards, we have a long relationship, I have good credit, lets see if I can PC.

Bzzt, the CSR was lackluster, sighing every couple minutes, never even brought up my account, just asked my name. She said the only option was to visit a branch to see if I "qualify to apply" for a different card. No looking into recon on the CLI, no checking if PC was an option, not even offering to apply by phone. (It said 'apply by phone' above the number I called!)

Guess they have me in the bottom of the bucket.

Tsk tsk, having two checkings, a savings, and a credit card and long relationship I would think they'd appreciate my business... Guess not. Means their CC will stay SD'd for the age since it's no AF. Otherwise my checking account features are pretty bangin'. $12/mo fee (waived if total accounts >$5k checking and savings, so free for me ) nets me free checks, free cashier's checks, free ATM usage at any ATM (even out of country, tested in Canada, just charged 1% conversion fee from MC, all ATM fees get immediately refunded), tiered interest on checking (matches my savings %), 50% off safe deposit box, overdraft fee waived... And a bit more.

So I can't up and leave them entirely, I've had a pretty amazing banking experience via checking... I just wish their CC department wasn't so lack luster... Even their "best" card is their Visa Signature, 2 points for dining/gas, 1 everything else, minimum 5k points redeem, cash back as statement credit only. Nowhere on their site or their rewards site state how much the points are even worth. Mostly just disappointing, when my other cards age I'll simply close it. Their CC selection isn't worth another HP, especially after eating one for a CLI denial. I'd rather use one for a Chase Freedom or something better.

Guess sometimes a good relationship still means nothing.

[Anonymous]

Same experience with FedEx Credit Union.
I have a secured card with them. The rate on the secured card is pretty amazing (like 6.5% 😁), but customer service varies from phone call to phone call.
I'm stuck with their card but am moving my other accounts.

[Anonymous]

Worst part is my social anxiety, I can barely talk on the phone, more or less someone not wanting to be cooperative. I prefer just straight to the point professionalism, only CSRs I can stand talking to are Discovers, they hold top for me thusfar.

[Loquat]

OP,

It sucks that you're not getting what you think you deserve but in regards to a CLI but at least try to make a stronger argument for yourself.  If you're only spending $6-10 a month and then paying it off...what logical business decision would it make for a lender to give you more of what you're already not using. 

This forum is terrific and offers a lot of education and advice but I think we all (at least at some point) have been bitten by the "I want more just 'cause" bug.  I too have shared the exact same feeling that you're having now.  But when the disappointment subsides and you approach your request logically, it'll make sense (or at least I hope).

There is absolutely no reason to give 10 slices of pizza to a person who has a history of only eating one...especially when there are 9 other hungry folks in the room.  

[Anonymous]

I understand that, not really what I think I "deserve" I would have been happy with 2-3k so I could use it, yet still have a reasonable uti to build credit. (Without having to immediately pay it after it posted). No room to grow. The denial letter stated "Lack of recent installment loan information" as the reason I was turned down, which.. I've never had an installment loan, so naturally there is no info on one. Don't really see how they made a credit card decision based on that, but there it is. Either way, other lenders offer more perks and seem to trust me more than the bank that has access to my finances. *Shrug* the same argument can be made about being accepted, seen several, especially for Discover of people SDing a low CL card, and they get a CLI to entice the user to use it more. If someone else is going to offer me more, what logical business decision is it for me to keep dealing with you?

Edit: The main reason I got the card was to build credit, it offers no perks, I don't "need" credit, I don't spend outside my budget. It built me a high score, they don't want to grow with me, so I gotta move on. Now I have cards that offer perks, usable limits, and can grow. Now pretty much all spending is on the cards. We'll see what they do in the future, gotta stay competitive.

[FinStar]

Echoing what @Loquat mentioned above, and depending on the institution you're dealing with, growth is relative.

Potentially if you are only using a small portion of your CL (aka loan on plastic), the lender may not have much of an incentive to increase your line. It also depends how conservative they are and the product itself). Admittedly, if this bridged the opportunity to provide a path to other products then it really hasn't done you a disservice.

UW models definitely vary across a multitude of lenders and even subproducts so potentially if this was something you were using a lot - even if 50% and PIF, perhaps there may have been some incentive to increase your line barring any other factors associated with your overall profile.

By and large, you have other options and if doesn't work for you in the end then you can just close it and call it a day. No harm no foul.

[Loquat]

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@Anonymous wrote:
I understand that, not really what I think I "deserve" I would have been happy with 2-3k so I could use it, yet still have a reasonable uti to build credit. (Without having to immediately pay it after it posted). No room to grow. The denial letter stated "Lack of recent installment loan information"  Stick around here long enough (and I hope you do, this place is a wealth of infomation) and you'll quickly learn that most of the reasons for listed for denials make little to no sense...but they've gotta print something as the reason I was turned down, which.. I've never had an installment loan, so naturally there is no info on one. Don't really see how they made a credit card decision based on that, but there it is. Either way, other lenders offer more perks and seem to trust me more than the bank that has access to my finances.  There's no reasoning with a computer algorithm...they lack emotion and make unbiased decisions...which is probably the reason many lenders are relying completely on automated decisions due to their lack of human emotion (not to mention reducing staff and saving money).  Recon'ing an app is starting to dwindle away and being able to speak to an actual underwriter/loan officer seems to be fading away as well.  It's becoming a matter of if this equal that then yes...or in your situation, no.  Trust me, approvals and denials are never personal...all about risk assessment and it doesn't have to make sense to us at all...it is what it is.  *Shrug* the same argument can be made about being accepted, seen several, especially for Discover of people SDing a low CL card, and they get a CLI to entice the user to use it more. If someone else is going to offer me more, what logical business decision is it for me to keep dealing with you?  When this happens it's time for you to make a decision.  Clearly you have cards that offer better options and rewards so this card probably doesn't hold much weight to those even with an increased limit.  Use the cards that you find beneficial and don't sweat those that don't.  Don't take any of this stuff personal.  Sure it can be frustrating but be honest with yourself...would you really start using a card that offered nothing in way of rewards even if they had granted you an increase?  I'm guessing from your response below that you probably wouldn't.  But hey, you gave it a try...several tries and they're clearly letting you know where you stand with them.  Accept them for what they are and move your focus to other products that better suit your spending.  SD this card or close it if you desire but don't let this stuff get you down, frustrate, or upset you...it just isn't worth it.   

Edit: The main reason I got the card was to build credit, it offers no perks, I don't "need" credit, I don't spend outside my budget. It built me a high score, they don't want to grow with me, so I gotta move on. Now I have cards that offer perks, usable limits, and can grow. Now pretty much all spending is on the cards. We'll see what they do in the future, gotta stay competitive.

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[Anonymous]

Don't really feel it as a disservice, not gonna close the card out of anger, or cut ties, just a "So long and thanks for all the fish" type of thing on credit. If they happen to do a soft pull in the future and offer me something, I'm definitely open to giving them some more love, they've treated me well otherwise. My original anger was mostly just a "but why ¿" not real anger. Not taking it really personally, just dropped it here for others to see just to get it off my chest as a "harumph" and move along. I guess next step would be looking for one of those "share secured loans" to help with that pesky installment loan reasoning.

[GApeachy]

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@Anonymous wrote:
Don't really feel it as a disservice, not gonna close the card out of anger, or cut ties, just a "So long and thanks for all the fish" type of thing on credit. If they happen to do a soft pull in the future and offer me something, I'm definitely open to giving them some more love, they've treated me well otherwise. My original anger was mostly just a "but why ¿" not real anger. Not taking it really personally, just dropped it here for others to see just to get it off my chest as a "harumph" and move along. I guess next step would be looking for one of those "share secured loans" to help with that pesky installment loan reasoning.

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Hey, I understand....
(Mod cut-not appropriate here)
 ...mm hmmmm!

[zerofire]

I do not believe you got bucketed. It seams to me that the bank you are dealing with has its priorities messed up. Now for starters you did not put a name for said bank so we cannot match your experience with our background until you do. What we can say is that banks have to list a denial reason and in this case either this bank is pulling at straws to deny you or they truly value loans more than credit cards. I also have to say that they are more likely to deny if you do not use what they offer enough. Even if the limit is a measly 1k they might think that they need to see a higher percentage before any increases.

Based on my research it is a high probability that the bank you are referring to is either Capitol Bank or First Tennessee Bank. If it truly is one of those then I can understand as their management company is heavy on loans, investments, and business banking. Credit cards are only there to fill in the gaps.