RZ Best Buy MC switch to Citi cause of score drop

[carsmom]

Anyone else transition from HSBC to Cap 1 to Citi with the Reward Zone MC? The transition from HSBC to Cap 1 didn't effect my credit score. The tradeline smoothly switched from Creditor: HSBC to Cap1, everything else status quo.

Today I got my monthly report from Quizzle and my score dropped 30 points.

Only thing that I noticed was a closed Cap 1 acct (RZ MC) and no new tradeline from Citi, which means that I have a closed acct (bad) and lowered util (even though I was still stuck at $300). This will also impact AAoA if a tradeline from Citi does show up and the original acct open date isn't used.

I'm going to look into this further but seems to me there should not be ANY impact on my score when these financials transer accts and buy and sell each other.

P.S. tried CLi when I registered acct with Citi to make a payment and no love. Whatever! I still like the reward zone benefits.

[omskillet]

Interesting that you got a new tradeline for the citi and a closed for the cap one. If I remember correctly that didn't happen with the HSBC to CapOne switch. I have the store card which might explain the difference? I'm definitely on the look out for this now. 

[hotpoint]

Hello,

I have also experienced a serious drop, but only w/Equifax. I plan to check it today.  I also called CITI, and they mentioned they will report from the original date.  Do you recall which bureau reported closed.

Thanks,

HotPoint

[CashOnDelivery]

Would it be in anyone's favor to have CR CapOne closed the account and have Citi report the new TL but backdate the account? The closed account will still report, so I am not sure what I am missing.

[Peter1142]

My new TL should report tomorrow if it hasn't already, unless Chiti is behind due to the transition. I doubt I will get a credit alert though, because score watch doesn't work at all.

[Gibran]

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@carsmom wrote:

Anyone else transition from HSBC to Cap 1 to Citi with the Reward Zone MC? The transition from HSBC to Cap 1 didn't effect my credit score. The tradeline smoothly switched from Creditor: HSBC to Cap1, everything else status quo.

Today I got my monthly report from Quizzle and my score dropped 30 points.

Only thing that I noticed was a closed Cap 1 acct (RZ MC) and no new tradeline from Citi, which means that I have a closed acct (bad) and lowered util (even though I was still stuck at $300). This will also impact AAoA if a tradeline from Citi does show up and the original acct open date isn't used.

I'm going to look into this further but seems to me there should not be ANY impact on my score when these financials transer accts and buy and sell each other.

P.S. tried CLi when I registered acct with Citi to make a payment and no love. Whatever! I still like the reward zone benefits.

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You know I wondered what caused my score to drop 20 pts, no I know why, I just checked and my BB RZ is showing as closed as well, my CIti TL hasn't reported yet though. This is definitely not cool

[SpeeDj]

Here's a pretty in-depth thread that discusses the transition:

http://ficoforums.myfico.com/t5/Credit-Cards/Cap-1-Best-Buy-reporting-closed-on-Experian-due-to-Citi...

Hope that helps!

JP

Addendum: If you call into the number listed on the bestbuy.accountonline.com website and ask for BIG Ticket, they do the recon's for the card. It's worth a shot especially if you consider your CLI request already nailed you with a HP anyway. I was able to get a jump of 4.5k, but keep in mind YMMV.