I just got my first adverse action ever, Not sure it's really bad but HSBC closed my HSBC Direct 5% EDP card. Letter states it was due to inactivity of account. I did make sure to use it every few months but last time I used was Jan. Had it set to pay for myFICO but when I got the free months from the settlement I forgot about using the card somewhere else. So lost a $25k line, My report shows it as "Account closed by consumer" At least they didn't close my HSBC World Premier card. Pretty surprised I even still have that one since I only have a few bucks there, Got when I had a bunch. Will make sure to up my usage on that one

Not going to bother calling, Just got an alert from myFICO that my score went +10 to 801 Specifically states it's because "I" closed an account. Guess this answers that age old question of closing accounts. Think I will close a couple more and see if I can get to 850

g10ny said:

Scott, I have just one regret: I applied twice for that card, less than two years ago, and was denied both times. I guess I could have used it a lot, so it's difficult to understand how you did not use it.
I would have used it but had the Chase 5% even longer, Figured I would use the HSBC one also if I got near the rewards max. But I did CITI 5% on everything for 90 days twice so that kept my usage pretty low on the Chase. Still getting the 5% with Chase but with my luck that will now stop since I lost my backup card

text of lhendricks experience follows....I have some more A/A to report. This morning I noticed BofA sliced my CL on my NFL card to $48,500 from $74,000. This would have put me at 99% util on this card. Fortunately, I had already put the wheels in motion to pay this card off, and the balance is now $0. I spoke to an analyst who was concerned about my overall level of business debt, which is around $300K. I was not prepared for this, but I mentioned something about that figure being inaccurate because some paid-in-full balances had yet to report. (True, but we're still talking $250K+ of legitimate business debt.)

They asked me about my business, income, and assets. I was asked to fax income and asset statements. Per my usual MO, I sent asset statements only. They have since restored my CL to the original $74K.

The fact that the A/A seems to have started on the business side is potentially troublesome. Perhaps the big boys are starting to tighten up the A/R process for biz credit?

ifyouhavetoask said:This WSJ Article might be of interest to some.

Michael Shortt, who owns a television-production company in Savannah, Ga., says American Express Co. slashed the credit lines on three of the six AMEX cards that he uses for his business, even though he routinely pays them off every month. Two of the credit lines shrank to $1,000 from $6,000, and the third was reduced to $36,000 from $42,000.

When he called the New York company's customer-service department, Mr. Shortt says he was told that his available credit declined because he hadn't supplied information about his company to Dun & Bradstreet Corp., which provides credit data on small businesses. On Saturday, Mr. Shortt got a letter from AMEX notifying him that his $36,000 credit line was being cut to $4,300. He cut that card up Wednesday, he says.

"Of all the people that [AMEX] would want to mess with, why would it be a customer who pays their bills on time and spends a great deal of money?" says Mr. Shortt, who says he has accumulated 780,000 rewards points through his American Express cards. He says he gets calls from Dun & Bradstreet, but he doesn't feel comfortable providing information about his business, especially over the telephone. A Dun & Bradstreet spokesman couldn't be reached to comment.Thanks for posting this.

Has anyone else in FWF been contacted by D&B for added information?

As lhendricks92 stated and this WSJ article indicates, perhaps the biz side of credit is getting looked at more carefully now...

One question the article didn't answer:

• Did Mr Shortt use his cards initially for an AOR?

LtWaldo said:Citi closed one of my accounts for "inactivity" - but left the two other ones open.

Chase closed all my accounts stating:
Number of BankCard Accounts
Rapid increase in revolving balances
Too many requests for/reviews of credit

What's funny is that I didn't use the Chase accounts for BT money...only for bonuses so there was $0 balance on all 3 accounts. What triggered their review? Too many applications? Also, I locked Transunion and Equifax...so they couldn't have done a hard pull.

Citi just closed two of my three remaining Citi managed cards for all the same reasons above including "inactivity." The credit dept. reps were really, really nasty on the telephone. The only card they left open was an old Sears only charge/credit card. The two, old 2000 visa, gold Sears cards were closed. All the CC issurers seem to be up to this crap.

How do I get them re-opened? This is really gonna hurt my credit score.

I havent done an AOR in 6 months!

yea I agree that HSBC is a really bad bank, they once screwed me in the french countyside, not allowing me to get acess to my own money when my ATM card was lost. Not the world's bank and I am sure a terrible cc company too. I see them going after poor people/recently arrived imigrants all the time with micro cc offers and terrible interest rates. What a bunch of crooks but I guess citi is joining them.

saviola said:Folks, after all this talk of Citi adverse actions, what do you make of this? Citi shadowing me in preparation to take action?

In the last 50 days I applied for 4 different accounts, 3 non-Citibank credit cards and one Citi LOC Flex account which I was invited to apply for and was approved on for $10K.

What's spooky on my Experian report is that on every separate day from 20 May till 27 June 08 in which I applied for a non-Citi-card, there's a CCSI/Citibank soft review on my report. The latter totals 4 Citi soft reviews in the span of 50 days, amongst which 3 softs are within the span of 2 weeks. _ All on the exact dates whereof I applied for non-citi-cards.

Do you gents believe crazy Citi probing like this is a prelude to adverse action? If so, this would represent a loss of $50K total available Citi credit for me.

Have any of you ever noticed such heated pokes on your reports? Or am I special?Very intriguing. You outline your experience very articulately - it is very clear that Citi is watching you.

1) Are you on a do not call / opt-out prescreen list? If yes then I'd tend to believe they are looking for reasons to get adverse with your 50k.
2) If you don't mind sharing, a)how many Citi lines do you have and b) what is their age?

cap1 just closed my biz no-hassle $20K card due to inactivity. i used the 0% then sock drawered it.

saviola said:Pertinent to the "opt-out/do not call", since I don't even know what that is and what implications it entails, I'm sure I haven't participated in such an exercise.optoutprescreen.com
donotcall.gov (although I don't see how this one is relevant).

saviola said:For all it's worth, if the scrutiny is too late, I wouldn't care about post trade closures because by then I would've cleared a Mil and paid back the $300K. Thanks for weighing in.So you don't have 40K, but you know how to turn 300K into a mil in a few weeks? I call shenanigans.