Amex backdating

[iv]

---

@manyquestions wrote:

---

@longtimelurker wrote:

---

@Anonymous wrote:

---

@manyquestions wrote:

---

@Anonymous wrote:

---

@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. 

---

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

---

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

---

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

---

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.

---

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.

---

Changing networks has nothing to do with open date.  Neither does issuer or portfolio acquisition.

All that matters is what the issuer chooses to report to the CRA, and for acquisitions, if the original issuer (or their legal successor) also chooses to delete the original reporting.

I've directly seen both issuer acquisition (WaMu/Providian to Chase, MBNA to BoA) and network changes (Chase MC to Visa, and BoA MC to Visa to Amex) retain both the opening date and the payment history on the new reporting, while deleting the original reporting.

I don't have any examples of portfolio acquisition.

(And those are all majors to majors - from other messages I've seen here, store to major or major to store changes tend to create an entirely new tradeline.)

[bichonmom]

---

@noobody wrote:

---

@bichonmom wrote:

---

@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.

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.

---

That's the big difference for me. I've had the Costco Amex since 2010 or 2011. My first Amex was in 1987, so I sure hope they keep the backdating! 

[bichonmom]

---

@iv wrote:

---

---

Changing networks has nothing to do with open date.  Neither does issuer or portfolio acquisition.

All that matters is what the issuer chooses to report to the CRA, and for acquisitions, if the original issuer (or their legal successor) also chooses to delete the original reporting.

I've directly seen both issuer acquisition (WaMu/Providian to Chase, MBNA to BoA) and network changes (Chase MC to Visa, and BoA MC to Visa to Amex) retain both the opening date and the payment history on the new reporting, while deleting the original reporting.

I don't have any examples of portfolio acquisition.

(And those are all majors to majors - from other messages I've seen here, store to major or major to store changes tend to create an entirely new tradeline.)

---

How can they retain the payment history and delete the original reporting? Does that mean that my Amex history would disappear from my CR and be replaced by 4 yrs of "history" w/Citi? 

[iv]

---

@bichonmom wrote:

---

@iv wrote:

Changing networks has nothing to do with open date.  Neither does issuer or portfolio acquisition.

All that matters is what the issuer chooses to report to the CRA, and for acquisitions, if the original issuer (or their legal successor) also chooses to delete the original reporting.

I've directly seen both issuer acquisition (WaMu/Providian to Chase, MBNA to BoA) and network changes (Chase MC to Visa, and BoA MC to Visa to Amex) retain both the opening date and the payment history on the new reporting, while deleting the original reporting.

I don't have any examples of portfolio acquisition.

(And those are all majors to majors - from other messages I've seen here, store to major or major to store changes tend to create an entirely new tradeline.)

---

How can they retain the payment history and delete the original reporting? Does that mean that my Amex history would disappear from my CR and be replaced by 4 yrs of "history" w/Citi? 

---

That's exactly what I've seen with previous cases of issuer acquisition, yes.  (It's the history of the tradeline that's being reported, regardless of the current name of the issuer, the card network, or the account number.)

This is a portfolio acquisition... and it's really up to Amex and Citi how they will choose to report.

I do think it's much more likely that they will report as above (moving the history to the new tradeline), rather than doing something like creating a brand-new Citi tradeline with a 2016 open date, and marking the Amex tradeline as closed by issuer. 

[bichonmom]

I hate this! I love Amex and am not crazy about Citi. I could lose 25 years of backdating in a couple of months, which I didn't realize would happen when I read about the change. Really bummed about losing an Amex TL. And Citi doesn't necessarily have to grant us the same terms we had w/Amex, either. I assume they could change (lower or higher) the CL, increase the % (though I PIF), or even not issue a card at all if they wanted to.

I'm so glad I kept my Zync now. Sheesh!