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Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

Kroger lied to its customers!

 

Will this change affect my credit rating?

No. This change will not affect your credit rating in any way.
I may just have to start a PR campaign against them if those opening dates are not corrected.  
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woozy
Posts: 99
Registered: ‎02-12-2010
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank


DI wrote:

Kroger lied to its customers!

 

Will this change affect my credit rating?

No. This change will not affect your credit rating in any way.

Ummmm...they made a mistake by saying that. Thanks, suckers.

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

 


woozy wrote:

DI wrote:

Kroger lied to its customers!

 

Will this change affect my credit rating?

No. This change will not affect your credit rating in any way.

Ummmm...they made a mistake by saying that. Thanks, suckers.


I just filed a complaint with the BBB against Kroger so that they are aware of what's going on.  At some point, I expect Kroger and U.S. Bank to start talking about this situation. 

 

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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

It's interesting that US Bank (whom I normally consider to be good guys, btw) interpret the law as meaning that they can't report the older date, because they have to report when the account was opened with them.

 

Obviously, American Express has another way of looking at this, because they happily backdate subsequent cards for their members. Yes, it's not exactly the same thing, because all the cards are with them, but you can't say that my new Costco True Earnings card was opened in January 2008, because it wasn't. It was opened in January 2011 and picked up the opening year of my original Gold Card.

 

IMO, the US Bank attorneys ought to take another squint at this. It's obvious that some people --certainly not all --have seen their FICO scores drop because of the change from RBS to US Bank, and a few appear to be hurt.

* 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
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rom828
Posts: 932
Registered: ‎08-17-2007
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

 


DI wrote:

Kroger lied to its customers!

 

Will this change affect my credit rating?

No. This change will not affect your credit rating in any way.
I may just have to start a PR campaign against them if those opening dates are not corrected.  

 

This surely does appear to be a willful misrepresentation of the fatcs....especially when coupled with the US Bank phone  CSRs advising history would continue to report the same..no change..just a change of bank! 

 

I trusted what I read and was told, and now have "new account opened recently"  as a FICO "what's hurting my score".

 

Just to be fair, perhaps Kroger and US Bank were unaware that reporting the way they are could potentially  have such  a negative impact on their customers' reports.  They certainly seem to think that lower scores can just be 'explained"  to potential creditors.

 

However, now that it's been brought to light by hundeds or thousands of customers by now...I agree with haulingtsu...why don't they have their have legal counsel take a look?!?!

 

Seems to me it would be worthwhile to comply with requests to correct/amend rerporting  to avoid the bad PR as well as law suits from unhappy customers.

 

I have to believe it can be reported any way they want to....same way CCCs  can do a GW deletion if they are so inclined..

 

I can't imagine it's illegal for US Bank to report the account  opened as of the original true opening date of the Kroger card,  and then show their history of payments etc as of the date they took over the account.

 

 

 

 

 

 

FICOS: TU 732(7-18-14) EQ '08 734( 7-23-14) EX 727 (7-23-14)


Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank


rom828 wrote:

 


DI wrote:

Kroger lied to its customers!

 

Will this change affect my credit rating?

No. This change will not affect your credit rating in any way.
I may just have to start a PR campaign against them if those opening dates are not corrected.  

 

This surely does appear to be a willful misrepresentation of the fatcs....especially when coupled with the US Bank phone  CSRs advising history would continue to report the same..no change..just a change of bank! 

 

I trusted what I read and was told, and now have "new account opened recently"  as a FICO "what's hurting my score".

 

Just to be fair, perhaps Kroger and US Bank were unaware that reporting the way they are could potentially  have such  a negative impact on their customers' reports.  They certainly seem to think that lower scores can just be 'explained"  to potential creditors.

 

However, now that it's been brought to light by hundeds or thousands of customers by now...I agree with haulingtsu...why don't they have their have legal counsel take a look?!?!

 

Seems to me it would be worthwhile to comply with requests to correct/amend rerporting  to avoid the bad PR as well as law suits from unhappy customers.

 

I have to believe it can be reported any way they want to....same way CCCs  can do a GW deletion if they are so inclined..

 

I can't imagine it's illegal for US Bank to report the account  opened as of the original true opening date of the Kroger card,  and then show their history of payments etc as of the date they took over the account.

 

 

 

 

 

 


I just sent an email to U.S. Bank and Kroger Personal Finance Media Relations Personnels.    A lot is going on right now and I expect changes are forthcoming. 

Established Contributor
rom828
Posts: 932
Registered: ‎08-17-2007
0

Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

 



DI wrote:  I just sent an email to U.S. Bank and Kroger Personal Finance Media Relations Personnels.    A lot is going on right now and I expect
changes are forthcoming. 

 

I think I'll zip off a couple of emails myself... can't hurt, right?! 

 

And, DI, thanks for continuing the fight and keeping us apprised of your battle strategy.

 

You've  certainly inspired me not to give up.  I'd pretty much resigned myself  to the injustice of the situation and have  just been simmering in an impotent rage, but now....?!?!?!

 

"I'm mad and I'm not gonna take it any more"!!!!!! 

 

PS (But I will make my point in a polite and civil manner.  I was raised  on the "more flies  with honey" philosphy!:smileyvery-happy:)

FICOS: TU 732(7-18-14) EQ '08 734( 7-23-14) EX 727 (7-23-14)


Valued Member
CHARGE
Posts: 46
Registered: ‎04-14-2009
0

Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

DI, I am not usually one to "rock the boat" when it comes to things like this.  Thankfully, there are consumers like you out there fighting for everyone else.  I don't have this card so it's not an issue for me but I sure would be upset if I did. 

 

Thanks for what you are doing.  :smileywink: 

TU: 789 - 06/06/2011 | EQ: 790 - 06/29/2011 | EX: 803 - 02/10/2009

What's in my wallet?
Platinum Charge from American Express, TrueEarnings Card from Costco and American Express, Blue Cash Everyday from American Express, BMW Financial Services Visa, CitiBank Platinum Select World MasterCard, Discover More, Delta Community Credit Union Platinum Rewards Visa ....
Contributor
woozy
Posts: 99
Registered: ‎02-12-2010
0

Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

[ Edited ]

I'm still shaking my head over how they think this can be 'explained"  to potential creditors.

 

Is this 1950, and it's "Father Knows Best"? Shall I walk down to the bank and tell Jim Anderson to give me a loan?

.

Oh wait... I think he was an insurance agent....

 

Anyway, thanks, DI.

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: RBS/Kroger and US Bank Mess-UPDATE FROM US Bank

[ Edited ]

Dear

U.S Bank is in receipt of your request for assistance from the Better Business Bureau of Minnesota and North Dakota. We appreciate the opportunity to respond to your inquiries regarding the above referenced Kroger credit card account.

Prior to the conversion of your Kroger credit card account, Royal Bank of Scotland (RBS) sent a final file to the credit bureaus with each account marked "Sold/Transferred", as requested by U.S. Bank and per industry credit card conversion standards. After the conversion, U.S. Bank sent a file to the credit bureaus in the standard monthly format that is included on all standard bureau attributes, including the "open date." U.S. Bank stores the "open date" as the date the account was created with us and not the original account open date with RBS. This standard is common in the industry and fully acceptable by the credit bureaus. The open date attribute does play into credit bureau scores, as all attributes do, but the extent of the value of this attribute varies among the credit bureaus. Each of the credit bureaus use attributes differently in their proprietary models, and U.S. Bank does not have control over the scoring.

In relation to the lack of an open date present on your credit report, this is due to a system issue at Equifax with the last payment date being reported as prior to the date of the account build on the U.S. Bank system. When this occurs, the open date is not updated because of the date conflict. Additionally, the bureaus indicated that they did not believe the open date would create a huge fluctuation in a customer bureau score.

We are following standard credit reporting policies, but because you have brought this to our attention we are completing a thorough investigation. We value you, as well as other affected Kroger credit card cardmembers. We expect to complete our investigation within 60 days and will contact you when a resolution is determined.

We apologize for any inconvenience in this matter. If you have any further questions concerning your account, please contact Cardmember Service.

Sincerely,


(Signed)
Office of the Cardmember Service President


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