Credit Cards Center Credit cards from our partners
Reply
Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Citi Selling CC Portfolio to US Bank

Article at Reuters. Any opinions and are all our cards going to be effected?
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Citi Selling CC Portfolio to US Bank

Hmmmm.....can you say WAMU - CHASE.

 

Actually I have no idea....but as I recall US Bank is conservative compared to Citi.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Citi Selling CC Portfolio to US Bank

Citigroup sells three credit card portfolios

It would help if they said which portfolios, wouldn't it? Are we certain that they were sold to US Bank? The name of the buyers were not disclosed.

Ahh, here's another post that indicates it is US Bank, and which cards:

Maria Aspan reports for American Banker this afternoon that Citi Holdings has sold $1.3 billion of managed card portfolios to US Bank. She reports that the portfolios were associated with KeyCorp, Associated Banc-Corp, and the affinity card portfolio for the American Dental Association. Earlier, Floyd Norris of the New York Times posted a commentary about Citi's earlier press release announcing the sale - calling it the " least informative announcement ." He said that "I can’t remember a deal announcement when a company said it had sold undisclosed assets to an undisclosed buyer for an...

Payments News dot com article

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
Posts: 449
Registered: ‎02-21-2009
0

Re: Citi Selling CC Portfolio to US Bank

I hope US Bank doesn't ratejack their good customers because they are taking on $1.3 billion of managed card portfolios from Citi Holdings.
TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Citi Selling CC Portfolio to US Bank


haulingthescoreup wrote:
Citigroup sells three credit card portfolios

It would help if they said which portfolios, wouldn't it? Are we certain that they were sold to US Bank? The name of the buyers were not disclosed.

Ahh, here's another post that indicates it is US Bank, and which cards:

Maria Aspan reports for American Banker this afternoon that Citi Holdings has sold $1.3 billion of managed card portfolios to US Bank. She reports that the portfolios were associated with KeyCorp, Associated Banc-Corp, and the affinity card portfolio for the American Dental Association. Earlier, Floyd Norris of the New York Times posted a commentary about Citi's earlier press release announcing the sale - calling it the " least informative announcement ." He said that "I can’t remember a deal announcement when a company said it had sold undisclosed assets to an undisclosed buyer for an...

Payments News dot com article


I don't think this is going to effect the holders of the regular Citi cards. (The ones offered thru their website.) Hopefully those moved over will be less marginal post transaction. Could be good for everybody, Too bad Chase didn't do this with a large chunk of the WaMu portfolio. Of course Chase got it for free, so why should they bother trying to make any money with the discards.

Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Citi Selling CC Portfolio to US Bank

KeyCorp = KeyBank

Associated Banc-Corp = A Wisconsin bank, HQ in Green Bay, WI

The affinity card portfolio for the American Dental Association = The reason why I avoid affinity cards.

Established Member
Posts: 19
Registered: ‎03-14-2009
0

Re: Citi Selling CC Portfolio to US Bank

"I don't think this is going to effect the holders of the regular Citi cards. (The ones offered thru their website.)"

 

+1 

Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Citi Selling CC Portfolio to US Bank

Do you think it is going to effect KeyBank Card? I have Key Bank business card. Hope it wont get effected. As it is Citi is closing down the HDMC Business card and I am loosing $10k Business Line. If they pull Key Bank Card then I would loose another $8700 Business Trade Line. I got a $5K CLI on Sams Business Discover card to make up half of $10K CL I am loosing with the HDMC.
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Citi Selling CC Portfolio to US Bank


concorduser wrote:
Do you think it is going to effect KeyBank Card? I have Key Bank business card. Hope it wont get effected. As it is Citi is closing down the HDMC Business card and I am loosing $10k Business Line. If they pull Key Bank Card then I would loose another $8700 Business Trade Line. I got a $5K CLI on Sams Business Discover card to make up half of $10K CL I am loosing with the HDMC.

 

It just might be all the KeyBank cards. You might want to call and ask somebody,at the KeyBank number tomorrow. It would be interesting to know what they have to say.
Regular Contributor
Posts: 104
Registered: ‎07-08-2008
0

Re: Citi Selling CC Portfolio to US Bank

I actually have an Associated Bank Account (not credit card).  Are you saying that US Bank just bought them?  If so, that makes all THREE of the banks I have accounts with non-existent since they have all been bought out by bigger banks. <sigh>

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.