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Anyone ever have any luck with backdating a Synchrony branded card? I had a Paypal SmartConnect account opened in 2006 which was upgraded to a Mastercard in 2016. so I only show a year age on the MC. Was wondering if it is possible to backdate to the age of the 2006 opened account. Thanks in advance.
i did have a typo at first and had 2006 for the upgrade date and edited it to 2016. even though i won't be able to backdate it, it will still show age until it drops off around 2026 right? and by then my newer accounts will show a good bit of age. am i right that closed in good standing accounts stay on reports for 10 years?
@Anonymous wrote:i did have a typo at first and had 2006 for the upgrade date and edited it to 2016. even though i won't be able to backdate it, it will still show age until it drops off around 2026 right? and by then my newer accounts will show a good bit of age. am i right that closed in good standing accounts stay on reports for 10 years?
Yes most will stay on for 10 years or longer although it's entirely up to the creditor how long they want to report the account to the CRAs.
one thing that confuses me is when do they count the 10 years from. closing date, last payment date or last reported date?
@Anonymous wrote:one thing that confuses me is when do they count the 10 years from. closing date, last payment date or last reported date?
No idea and I'm sure it varies from lender to lender. There is no rule that requires a creditor to continue reporting after 10 years. It's entirely up to them how long they will report just as its entirely up to them whether they ever report an account open or closed. I have several accounts on my reports that have been closed for 13+ years. The 10 year thing is just standard practice not a steadfast rule, requirement or law.
Sychrony likes to call their replacement cards upgrades, even if it is an entirely new account reported to the bureaus. It might be an upgrade, but it is also a replacement of another account, so they will even try to convince you when doing it that it is a benefit to you. If you don't want a new account with a new starting date, then don't ever take an upgrade from them. They will not backdate. I think the only way to get them to change is for a lot of people to contact the CFPB and explain to them the misleading practice. It is misleading, since they don't tell you this directly and if you call they might even tell you something which is not true. (I have been told by many representatives that it won't have a new account starting date, that the information will replace the old card, and other incorrect things. I have to push them to check and it always is the same answer, new account starting date. It won't replace the old account on your report, it will add a new account with a new starting date.
There might be something in the fine print which does tell you this or something else similar to this which they could claim means the same thing. So unless a lot of people contacted the CFPB nothing will change. And if some people recently put into power in DC get their way, then even the CFPB won't be able to do anything, as it might have it's days numbered.
Hope the new account doesn't cause any major issues.