Prime CC lenders

[cmm89]

I've been reading these forums for a long time now and have noticed that prime lenders hate to have competition.

I am a BofA/Chase guy all the way, with AmEx as a backup.  I used to have a few Citi cards but they closed all of them on the same day ($36 due on my Costco card, immediately paid) and wouldn't entertain the possibility of a recon/re-open; I told them that this would be the permanent severance of a relationship to which they seemed uncaring.  This was about 6 months ago.  Meanwhile, I have $100,000 in unsecured credit from BofA & was able to bypass Chase's 5/24 rule by establishing a small banking relationship & going for an in-branch pre-approval while LOOOOL/24 for a $23.4k CSP (now CSR).  AmEx has been generous too.     For reference, total util is 7%.... nowhere close to being "risky."

I've also had generous SL's/approvals ($10k+) from PNC, Wells Fargo, Fifth Third, etc.  Curious as to how this has played out for other folks.  Any similar stories?

EDIT:  I have an NFCU Platinum card with a CL of $46,800 & a PenFed card with a CL of $25k too.

[FinStar]

On another thread you mentioned about working on some of your outstanding balances.  What was the reason, since I'm certain it was due to perceived risk, did Citi cite for closing your accounts?  

[cmm89]

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@FinStar wrote:

On another thread you mentioned about working on some of your outstanding balances.  What was the reason, since I'm certain it was due to perceived risk, did Citi cite for closing your accounts?  

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Good question, Fin.   TBQH, I cannot remember---I did have 3 accounts (2 at $0 for several months though each always closed the statement @ $0) and one at under $50 (Citi Costco).  I've never had high util.  In their defense (I guess), they did provide me with my first secured card which I PIF'd multiple times per month.  I was approved for other non-secured cards and after a year-and-a-half was still bucketed without a deposit refund, so I canceled.

I also would've brought up CapOne (at this point, I'm not even sure they're a prime lender) but I was careless in college and let a $1,200 CapOne account go into charge-off-----my dad paid this in full after it had aversely affected my credit in 2011 to replace birthday + Holiday gifts for 2 years.

The only derog. I have on my credit report is severe, but old--again, careless college grad (who had also lost both of his parents the year prior)--let my student loans go into default.   I restarted my build here, of course, and went into rehabilitation as soon as I got serious about it....almost immediately.  Equifax still has it as of 2017, TU 2015 (soon!), and it seems to have fallen off of Experian altogether.  I have my 5th letter out to the Federal Loan Admin Dept as of this month to get it removed from all reports.

Still, I'm confused as to why some prominently-known strict lenders are more-than-OK with me (Chase & AmEx specifically;  BofA is my primary bank and I have an ML relationship) but others won't pre-qualify me for a $2,000 card in any form.

[Anonymous]

OP - why is your EQ score so much lower than the other two scores?

[Anonymous]

Due to the higher education act they cannot and will not remove lates trust me I tried, sometimes they promise if you complete their rehab program they wipe the slate clean, but a lot of the time they still refuse

[cmm89]

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@Anonymous wrote:

OP - why is your EQ score so much lower than the other two scores?

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Great question, @Anonymous -- no clue.  EQ has always been my lowest score, by far.  Not. A. Clue.

[Anonymous]

You might want to take a deeper look into your EQ report to see what exactly is differnt from the other two, that should explain the difference why it's that much lower.

[longtimelurker]

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@cmm89 wrote:

 I used to have a few Citi cards but they closed all of them on the same day ($36 due on my Costco card, immediately paid) and wouldn't entertain the possibility of a recon/re-open; I told them that this would be the permanent severance of a relationship to which they seemed uncaring. 

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Just wondering what else you expected!   Unless you a really big UHNW individual, threatening a megabank with "you have lost my business for ever" isn't going to make them quake "Oh no!"

[cmm89]

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@longtimelurker wrote:

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@cmm89 wrote:

 I used to have a few Citi cards but they closed all of them on the same day ($36 due on my Costco card, immediately paid) and wouldn't entertain the possibility of a recon/re-open; I told them that this would be the permanent severance of a relationship to which they seemed uncaring. 

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Just wondering what else you expected!   Unless you a really big UHNW individual, threatening a megabank with "you have lost my business for ever" isn't going to make them quake "Oh no!"

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True--just wanted to make it known to them that I'd never use their products again.

[Kforce]

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@longtimelurker wrote:

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@cmm89 wrote:

 I used to have a few Citi cards but they closed all of them on the same day ($36 due on my Costco card, immediately paid) and wouldn't entertain the possibility of a recon/re-open; I told them that this would be the permanent severance of a relationship to which they seemed uncaring. 

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Just wondering what else you expected!   Unless you a really big UHNW individual, threatening a megabank with "you have lost my business for ever" isn't going to make them quake "Oh no!"

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I just closed my 7 year old City DC, less than an hour ago.

Never had a problem, the card is exactly what they advertised.

It was a totally automated process.

Never talked to a  person.

We are all only account numbers, there is no relationship. (MHO)

Different issuers just have different computer set thresholds looking at you information for determining starting CL, CL increases, Bank transfer offers, Apr, etc.  No person is making decisions it is just number crunching.