Citi Best Buy emailed me back on CR issue

[Kratos-TM]

Here is what I wrote them....

Hi, A lot of Cap One Best Buy cardholders are worried about the Citi switch in
regards to how it will be reported to the CRA's. If the new citi card reports as
a new trade-line with a new date, this will hurt everyone's credit scores due to
two reasons.....1 score drop because a new account was opened...and.....2 scrope
drop because of the average age of accounts is lower. If we are going to lose
all of our backdating on the credit report and virtually start over, then I am
gonna cancel my card before this occurs. I like my bestbuy card and want to keep
it, but I will not lose any credit score points because of it.

Here is what they wrote back....

Dear Valued Customer,

I <kana_cat_14321> have received your recent inquiry
regarding your credit score and I will be happy to try and assist you today. I'm
happy to advice you that your credit score will not drop nor change due to the
conversion of Best Buy and Citi Bank. We will report to the credit bureau they
way your account is standing and everything in your account will still stay the
same. I <kana_cat_14301> hope this matter has been clarified and that the
information is helpful.<kana_cat_14301>

I appreciate your business and
please let us know if we can be further assistance.<kana_cat_14321>

[09Lexie]

I hope it will report with the same open date for you guys. By the way..., I asked the very same question to Walmart when I was upgraded and got the same answer. However, it reported as date opened 07/2013.

[Kratos-TM]

Yeah, I take it with a grain of salt. Since I backed him/her into a corner with the idea of canceling, there was probably only one answer to give even though it may be a flat out lie.

[john398]

---

@09Lexie wrote:
I hope it will report with the same open date for you guys. By the way..., I asked the very same question to Walmart when I was upgraded and got the same answer. However, it reported as date opened 07/2013.

---

did you go to a walmart discover card? if so I heard that always gets a new date

[MYCherie]

Just curious, I checked my experian CR and my CAP1/Best Buy shows closed and I do not see a new tradeline for Best Buy/CITI.  Sigh this does not look good. Is anyone else having the same problems or noticing the account not reporting on CR's but still open.  Thanks.

[09Lexie]

@john398

It was an upgrade. I knew it would give me a new date based on others before me. But, I wanted to see what their analyst would say if asked. I did a live chat and sure enough, I was 'reassured that my credit would not be effected by the new trade line.' He went on to say, since I did not apply but was upgraded my credit would remain the same.

HAHAHA!!!!!

[spo]

My transunion report shows the same thing.  Cap one best buy account closed and no trade line for citi best buy.  Now it looks like I just lost 7k available credit and my cc utilization just jumped from 7 to 21% because of it.  The equated to a 38 point drop.  All the same time I am trying to get preapproved for a mortgage.  Thanks for nothing citibank..

[mxp114]

Capital One has updated all the BB accounts to reflect transferred/closed with a $0 balance but have preserved your original CL for the purposes of the report. Best Buy/CBNA will soon appear on your reports on your next statement cycle after 9/9/13, and will reflect your original opening date from HSBC or Capital One. There is no way to know what impact it will have on your AAoA, until after the account reports. Does anyone know if transferred/sold status TLs do not factor in scoring? It doesn't seem like they do.

[MeridianRN]

I got a score alert that showed my best buy account had been transferred/sold to Citi & my score went up 2 points.

[Kratos-TM]

Weird cause this month my account reported the same. I'm must gonna get closed next month.