09-01-2009 03:52 PM
Hmmmm.....can you say WAMU - CHASE.
Actually I have no idea....but as I recall US Bank is conservative compared to Citi.
09-01-2009 03:54 PM
09-01-2009 06:01 PM
09-01-2009 07:07 PM
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.
09-01-2009 07:14 PM
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.
09-01-2009 07:54 PM
09-01-2009 07:58 PM
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.
09-02-2009 10:16 PM
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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.