U.S. Bank Closed 2 CC's -- they suspect are in danger of, or being used for fraud!? WHAT!?

[FicoMike0]

Based on the letters I've gotten from usb, the turd doesn't like recent accounts opened and does like joint accounts. I get my turd score from usb every month when they turn me down for a cli. My turd is 574, while my tu fico8 is 817, big difference. I'm even older than you, maybe this is age discrimination.

At least they didn't close my accounts and call the man.

[Spotsy]

Hmmmm...this is all very 'fishy' on USB's part.  This can very easily get twisted into an invasion of your privacy as well as a breach of confidentiality of your personal information.

What evidence does USB have of 'Elder Abuse'?  Did some walk into a branch and pretend to be you for that cash advance? Did you report fraud on any of these credit cards which led them this action?

This is like 'swatting', but on a different level.  I would definitely raise a stink about this. 

[AndySoCal]

@Spotsy @ I work for a financial institution we receive training on elder abuse as it relates to finances and banking. Most of us banking wise are creatures of habit. We pay are our bills and make deposits etc on around the same time each month.  One of the potential signs is when a l customer starts doing things that are well out of the range of normal. What makes it very difficult in this setting we don't not have banking history that US Bank has. I will use two examples as to what might have caused US Bank concern. The two cash advances on the credit cards had this ever occured before. The new crypto credit card were there crypto related transactions before.  If there were no cash advances let alone 2 in short period of time and or were there Crypto related transactions in the past. Also the spree itself may have been an issue depending on the history. There is too much we don't know nor would I expect the OP to.fill in the blanks.

[BenConrad]

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@FicoMike0 wrote:

Based on the letters I've gotten from usb, the turd doesn't like recent accounts opened and does like joint accounts. I get my turd score from usb every month when they turn me down for a cli. My turd is 574, while my tu fico8 is 817, big difference. I'm even older than you, maybe this is age discrimination.

At least they didn't close my accounts and call the man.

@FicoMike0 What is the actual name of that score and how do I go about getting it? Does every bank use the same score or is this something that they score themselves? I'm really curious about this. 🙏 bc

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[BenConrad]

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@Spotsy wrote:

Hmmmm...this is all very 'fishy' on USB's part.  This can very easily get twisted into an invasion of your privacy as well as a breach of confidentiality of your personal information.

What evidence does USB have of 'Elder Abuse'?  Did some walk into a branch and pretend to be you for that cash advance? Did you report fraud on any of these credit cards which led them this action?

This is like 'swatting', but on a different level.  I would definitely raise a stink about this. 

Thank you. I don't disagree that it's very strange and maybe illegal--at least maybe unethical. Before attacking that I'm going to try and fix this situation 

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[UncleB]

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@BenConrad wrote:

@FicoMike0 What is the actual name of that score and how do I go about getting it? Does every bank use the same score or is this something that they score themselves? I'm really curious about this. 🙏 bc

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I'm not FicoMike0, but this might help:

TransUnion Rapid Default score, also known around the interwebs as the "T.U.R.D." score. 

https://newsroom.transunion.com/as-financial-institutions-face-greater-rapid-default-fraud-and-credi... 

I'm not sure (???) if you can get this particular score without being denied credit by a financial institution that uses it for approvals; hopefully someone else will have more info. 

[JoeRockhead]

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@UncleB wrote:

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@BenConrad wrote:

@FicoMike0 What is the actual name of that score and how do I go about getting it? Does every bank use the same score or is this something that they score themselves? I'm really curious about this. 🙏 bc

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I'm not FicoMike0, but this might help:

TransUnion Rapid Default score, also known around the interwebs as the "T.U.R.D." score. 

https://newsroom.transunion.com/as-financial-institutions-face-greater-rapid-default-fraud-and-credi... 

I'm not sure (???) if you can get this particular score without being denied credit by a financial institution that uses it for approvals; hopefully someone else will have more info. 

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While everyone here is referring to this as the T.U.R.D score (raises hand).  I've come to find out (by spending way too much time researching it) that within the industry it's referred to as RDMV1 (Rapid Default Model Version 1).   At this time, it's not currently accessible directly by consumers other than by way of a denial letter. 

USB seems to be the largest lender using it (or at least citing it as denial reason and adverse action).  I don't think we've seen DPs naming other institutions quoting RDMV1 scores as reason for denial.

[Spotsy]

@AndySoCal Thanks for the reply and insight from a banking side perspective.  Ironically, back in my younger year, there would probably have been a time where people like you and I would be sitting at a conference table having discussions like this, be we would be on opposite sides of the table. :-)

Elder abuse is real and a valid concern....but what is at issue here is specifically USB calling the authorities for a 'welfare check'.  USB is not related, not family, has never met the person, talked with the person, and is simply using profiling, after the fact of them opening up accounts, to speculate what is going on.

I completely agree with shutting down the accounts, absolutley, but a dispatch of protective services....thats a no.  Just my opinion.

[BearsCubsOtters]

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@BenConrad wrote:

This is really a 1st -- never heard of such a thing before!  These cards are just 30 days old. I need advice--this will tank my Fico Score (which my recent 'spree'took it down to 717 from 759!  AND, I really want to retain these cards! 

Has anyone ever heard of this or seen a letter like I received??! (see my attachement).  I got 2 letters in the mail like this 3 days ago.

USBank wont talk to me....

To top it off...  just a day later,  I got a call on my Ring Camera yesterday from someone at my front door who recited the last 4 digits of my cxl'd cards Identifying himself as being from The County's Dept of Adult Protective Services  asking to do a wellness check after claiming they were notied by USBank  of "possible financial crimes againt a 'senior' individual and suspected elder abuse!"

OK...I am 66 run a business and have accounts at USBank!!  Its all ludicrous and unexplainable.  Has anyone ever heard of anything like this???

I really need advice from one of the senior contributors, moderators and anyone that can lend advive--please?

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I used to work at a bank and I was part of their Elder Financial Exploitation program. It was taken very seriously, especially if a cardholder resides in California which has quite a few consumer protections and requirements. We often filed reports of suspected elder financial exploitation, especially in CA, which resulted in a welfare check. 

[markhs777]

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@BearsCubsOtters wrote:

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@BenConrad wrote:

This is really a 1st -- never heard of such a thing before!  These cards are just 30 days old. I need advice--this will tank my Fico Score (which my recent 'spree'took it down to 717 from 759!  AND, I really want to retain these cards! 

Has anyone ever heard of this or seen a letter like I received??! (see my attachement).  I got 2 letters in the mail like this 3 days ago.

USBank wont talk to me....

To top it off...  just a day later,  I got a call on my Ring Camera yesterday from someone at my front door who recited the last 4 digits of my cxl'd cards Identifying himself as being from The County's Dept of Adult Protective Services  asking to do a wellness check after claiming they were notied by USBank  of "possible financial crimes againt a 'senior' individual and suspected elder abuse!"

OK...I am 66 run a business and have accounts at USBank!!  Its all ludicrous and unexplainable.  Has anyone ever heard of anything like this???

I really need advice from one of the senior contributors, moderators and anyone that can lend advive--please?

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I used to work at a bank and I was part of their Elder Financial Exploitation program. It was taken very seriously, especially if a cardholder resides in California which has quite a few consumer protections and requirements. We often filed reports of suspected elder financial exploitation, especially in CA, which resulted in a welfare check. 

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I believe the better program would be the Financial Exploitation program . What does " elder " actual mean"?  A welfare check for applying for credit? What's the magic number? When I reach a certain age I hope some stranger doesn't knock on my door checking  to see if  I'm mentally stable just because I want a certain card (s). Bad judgment or fraud can happen at any age.