Amex backdating

[manyquestions]

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

[Anonymous]

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@manyquestions wrote:

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

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Were these cards that changed networks in addition to changing banks?

[NoAnchoviesPlease]

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@noobody wrote:

my guess is, they will totally elimated Amex account like it never happened, and citi account will show either actual costco TE open date or hopefully MSD of Amex.

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The only time I've seen an account disappear "like it never happened" was as a result of a class action suit against the creditor ten years ago. Our favorite triple-pull "what's in your wallet" bank's car loan division apparently pushed the limits of some repo regulations and had to refund all post-repo payments and remove the loan altogether from customers' records in their settlement. 

While the handling of dating on the Costco Amex is still up in the air, it seems almost entirely unlikely that they would retcon it. You (general you) had the account and they had valid experiences with you as a customer, so it's still warranted to have that on your record for the 7-10 years provided for in the law. 

I had an almost-pertinent experience, when Macy's went from VISA to Amex, but I think I was still on Amex's naughty list, so my Macy's VISA turned into a Macy's store card, On my credit reports, the VISA reported as closed-by-grantor, Store card shows same original account start date and "high credit" amount from the VISA even though my store card has never had as high a limit (nor have I needed it).

[manyquestions]

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@Anonymous wrote:

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@manyquestions wrote:

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

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Were these cards that changed networks in addition to changing banks?

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No.  The ones I am thinking of stayed with the same payment network.  Mastercard to Mastercard. Visa to Visa. Store card to store card. 

[manyquestions]

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@NoAnchoviesPlease wrote:

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@noobody wrote:

my guess is, they will totally elimated Amex account like it never happened, and citi account will show either actual costco TE open date or hopefully MSD of Amex.

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The only time I've seen an account disappear "like it never happened" was as a result of a class action suit against the creditor ten years ago.

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When my HSBC Mastercard became a CapOne Mastercard the opening date stayed the same and the HSBC line went away.  The same for when I had a Citi Visa become an Elan Visa.

[noobody]

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@bichonmom wrote:

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@noobody wrote:

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my guess is, they will totally elimated Amex account like it never happened, and citi account will show either actual costco TE open date or hopefully MSD of Amex.

I sure hope not. How could they wipe out my Amex history like that, even if they sell the accounts to Citi? I'd lose 25 years of backdating in a single keystroke. 

By losing 25 years history with Amex, you will gain 25 years history with citi. They might only go back to the TE opening date, or the amex MSD, who knows.defiantly not a brand new account.

[manyquestions]

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@noobody wrote:

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 By losing 25 years history with Amex, you will gain 25 years history with citi. They might only go back to the TE opening date, or the amex MSD, who knows.defiantly not a brand new account.

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That's what I am thinking. 

[Anonymous]

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@manyquestions wrote:

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@Anonymous wrote:

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@manyquestions wrote:

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

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Were these cards that changed networks in addition to changing banks?

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No.  The ones I am thinking of stayed with the same payment network.  Mastercard to Mastercard. Visa to Visa. Store card to store card. 

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In this case, they are changing networks so I don't think there is any assurance that the account history will be retained.

[longtimelurker]

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@Anonymous wrote:

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@manyquestions wrote:

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@Anonymous wrote:

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@manyquestions wrote:

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

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Were these cards that changed networks in addition to changing banks?

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No.  The ones I am thinking of stayed with the same payment network.  Mastercard to Mastercard. Visa to Visa. Store card to store card. 

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In this case, they are changing networks so I don't think there is any assurance that the account history will be retained.

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You may be right but it's not clear to me that CRAs should care about the network, it's just an account in their records.   I think I PCd with Citi across networks and kept the same opening date.

[manyquestions]

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@longtimelurker wrote:

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@Anonymous wrote:

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@manyquestions wrote:

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@Anonymous wrote:

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@manyquestions wrote:

Over the years I've had several cards that were taken over by a new bank. Each card kept the original open date when reported by the new bank. The line reported from the old bank then either disappeared right away or stuck around for two years or so and then disappeared. I'm expecting that is what will happen in this case. 

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Were these cards that changed networks in addition to changing banks?

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No.  The ones I am thinking of stayed with the same payment network.  Mastercard to Mastercard. Visa to Visa. Store card to store card. 

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In this case, they are changing networks so I don't think there is any assurance that the account history will be retained.

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You may be right but it's not clear to me that CRAs should care about the network, it's just an account in their records.   I think I PCd with Citi across networks and kept the same opening date.

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In the last year, Chase changed some cards from Mastercard to Visa.  Did those report with a new opening date? That example is within the same bank, but it would be a test of if it is possible to change networks and keep the same opening date.