@android01 wrote:
http://www.clark.com/costco-visa-credit-hit
The problem now is that Citi hasn't begun reporting to the bureaus yet. That may take up to 90 days from the June 20 switch.
"To ensure that credit bureau reporting is accurate and does not reflect any disruption in the transition, Citi will begin reporting to the credit bureau in September," Liz Fogarty of Citi told Team Clark.
"This will allow time for the American Express account to be reported as closed and transferred as well as ensure that customers have an opportunity to make payments to Citi."
At least one listener we heard from on the Clark Howard Show saw his credit score plummet by 80 points as a result of the changeover. He apparently didn't have very many lines of available credit and is in a no man's land as he waits for Citi to start reporting now that American Express has stopped.
My AMEX is reporting closed and transferred, but no new Citi card yet.
Thanks for the info - if that holds true, I can apply next month with no issue from the 5/24 rule. FWIW, I just received alerts last week that AMEX reported the account closed.
