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@bdhu2001 wrote:On a side note, we'll have a card that gives us our FICO EQ Bankcard score. This will round off all three FICO scores for me.
It is not just the CRA that matters. The scoring model matters as well. Do not assume that all FICO models are equivalent. FICO 8 Bankcard is not the same thing as FICO 8.
@SunriseEarth wrote:As for the backdate, I'm also hoping Citi keeps it. IIRC, Citi will typically report the original account opening date when they acquire a portfolio, but I'm not sure how they'd treat AMEX. I guess we'll all find out soon.
I hope so too. Not sure if this really means anything but after SM'ing with a question the rep responded commented "Thank you for being a valued Citi cardholder for 3 years." which was the actual age of my TE. I've never had a Citi card before so the Costco Anywhere is my first.'
@Anonymous wrote:
When citi reports this trade line, will it show the original opening date of the account? Will my score go up? I thought the original AX trade line was supposed to be converted to citi? THIS IS RIDICULOUS!
Nothing ridiculous about it. It is being converted. This is how conversions are handled -- similar to how card replacements are handled. Calm down and let the process run its course before you get all worked up about it. Why are you expecting a scoring increase?
@bdhu2001 wrote:14 point drop seems steep for change in available credit. I think transferred to another lender is hurting too. It's like closed by vendor instead of account holder. Both are closed accounts, but when the bank closes your account it's usually because of bad payments or etc.
Whether it's steep or not depends on how the individual's revolving utilization was impacted. 14 points could be entirely reasonable for a sufficent change in revolving utilization. Some see point changes on that scale just from having changing balances report.
The transfer itself is irrelevant as far scoring is concerned. As stated in many threads, the reason for closure does not matter. If the account was closed due to Payment History issues, derogs, etc then score is impacted by the issues recored under Payment History and/or in the derogs -- not by the message.
As stated above, the person seeing the 14 point drop needs to wait for the dust to settle to determine the total impact of the transfer. I.e. the new card needs to report.
I haven't been back to Costco since before they officially started taking Visa. Do they now take chip and/or NFC? Considering that the Citi Costco card is the only one of theirs with the latter on the card itself, I'd imagine Costco has some sort of plan for it.
@takeshi74 wrote:
@bdhu2001 wrote:On a side note, we'll have a card that gives us our FICO EQ Bankcard score. This will round off all three FICO scores for me.
It is not just the CRA that matters. The scoring model matters as well. Do not assume that all FICO models are equivalent. FICO 8 Bankcard is not the same thing as FICO 8.
@SunriseEarth wrote:As for the backdate, I'm also hoping Citi keeps it. IIRC, Citi will typically report the original account opening date when they acquire a portfolio, but I'm not sure how they'd treat AMEX. I guess we'll all find out soon.
I hope so too. Not sure if this really means anything but after SM'ing with a question the rep responded commented "Thank you for being a valued Citi cardholder for 3 years." which was the actual age of my TE. I've never had a Citi card before so the Costco Anywhere is my first.'
@Anonymous wrote:
When citi reports this trade line, will it show the original opening date of the account? Will my score go up? I thought the original AX trade line was supposed to be converted to citi? THIS IS RIDICULOUS!Nothing ridiculous about it. It is being converted. This is how conversions are handled -- similar to how card replacements are handled. Calm down and let the process run its course before you get all worked up about it. Why are you expecting a scoring increase?
@bdhu2001 wrote:14 point drop seems steep for change in available credit. I think transferred to another lender is hurting too. It's like closed by vendor instead of account holder. Both are closed accounts, but when the bank closes your account it's usually because of bad payments or etc.
Whether it's steep or not depends on how the individual's revolving utilization was impacted. 14 points could be entirely reasonable for a sufficent change in revolving utilization. Some see point changes on that scale just from having changing balances report.
The transfer itself is irrelevant as far scoring is concerned. As stated in many threads, the reason for closure does not matter. If the account was closed due to Payment History issues, derogs, etc then score is impacted by the issues recored under Payment History and/or in the derogs -- not by the message.
As stated above, the person seeing the 14 point drop needs to wait for the dust to settle to determine the total impact of the transfer. I.e. the new card needs to report.
I get your point, it just seems pretty steep to me. Unless the person has a thin file and people with AmEX don't usually have a thin file. Logically, I hear that the reason for closing doesn't matter, but since we aren't cognizant of every factor, who knows. When it comes to our FICO scores, it's what we don't know that often hurts our scores more than anything else.
Two days ago, I received my letter from Costco stating that my interest rate I had with Amex will be the one Citi uses. That is terrific news since I sometimes have revolved balances on this card.
Well, that's weird. Not sure how I managed to post that, subject line and all, over in this thread. But with the way my online Citi experience has been going this week, I'm not surprised the bad mojo I am having on their site is following me over here.
@mac5u wrote:Well, that's weird. Not sure how I managed to post that, subject line and all, over in this thread. But with the way my online Citi experience has been going this week, I'm not surprised the bad mojo I am having on their site is following me over here.
Hopefully it's just some strange period of a bad Moon or something and will pass.
I saw an 11 points drop on my TU score, but I haven't recieved the card yet... Anyway to check if I suppose to receive the card earlier? The Citi CSR told earlier they have no access to the information regarding my Costco card at their end until I register through the system.
@Anonymous wrote:
I just had a 14 POINT fico drop in my score because of this card. The AX trade line says "closed, transferred to another lender" i just purchased my experian fico score yesterday and again today to see the difference. NOTHING has changed except this trade line.
When citi reports this trade line, will it show the original opening date of the account? Will my score go up? I thought the original AX trade line was supposed to be converted to citi? THIS IS RIDICULOUS!
I just received a MyFICO / Equifax alert that says "An account listed on your credit report has been updated."
My AmEx True Earnings account status changed from "Pays account as agreed" to "Account Transferred Or Sold". It doesn't mentioned the word closed but this is from a monitoring alert so the actual report may say something different. After Citi reports I'll pull a 3B and post what the tradelines say.
There was no change in my FICO 8 score but my AAoA is high and my UTIL is low so there was very little change in either of those.