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Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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US Bank - Kroger conversion - Reduced my score

I just received a Score Watch Alert.  My score went down because my debt to available credit has been reduced by $8,000.

 

This was caused by RBS having reported the account as "Closed, sold or transferred", to all three CRBs.

 

The credit line is now Zero.

 

I called US Bank and they said that they report to the CRB's the first week of each month. 

 

Since that time passed during the transition, they will not be reporting until the first week in December.

 

They were very concerned however.  The problem has been escalated first to a supervisor and now to a manager. 

 

They promised to call me with how they intend to correct this.

 

Anyone else seen a score decrease yet?


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Established Contributor
rom828
Posts: 932
Registered: ‎08-17-2007
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Re: US Bank - Kroger conversion - Reduced my score

Sadly enough, yes:smileysad:

 

Some of us have been discussing this very thing  on this post: 

 

Kroger 1-2-3 to US Bank Transition - Account Setup...

 

 

My EQ took a hit also because of the account showing as closed, and then (we think) coupled with my disputing it.

 

The USbank CSR I spoke with said they report the first TWO weeks of the month,  so that reporting should be corrected soon.  Now I see you were advised they report the first week...which is really discouraging. 

 

I was hoping to see all this corrected within a few days, but from what you were told, may not be til next month.  AAARRRGGHH!!

 

I think  I'll call back tomorrow and see what I can find out!!  And please keep us posted on your progress!!

 


 


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


Established Contributor
rom828
Posts: 932
Registered: ‎08-17-2007
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Re: US Bank - Kroger conversion - Reduced my score

[ Edited ]

Update:  Talked with USBank this morning and received the same info you did....they report the first week of the month.  Evidently the CSR with whom I spok epreviously was mistaken when she told me "first 2 weeks of the month".

 

In today's conversation,  CSR  advised that since the conversion actually took place on November 8th, it is "quite possible" that the reports on these 123 cards would be included in their  December transmission to the CRBs, so will not be reflected until then.

 

And unfortunately, RSB has already reported the cards as 'closed',  which for some of us has had a negative impact on our scores.

 

It's sort of aggravating that RSB and USBank couldn't/didn't  coordinate the timing of their reporting to avoid such issues.

 

Please post back when they contact you!!

 

 

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


Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008
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Re: US Bank - Kroger conversion - Reduced my score

We lost $15,000 of our available CL as well. 

 

However, we were careful to not have a balance reporting during the Nov 1-8 shutdown phase.  Mostly because I haven't been paying attention to how that kind of thing affects CR's and scores (that kind of thing meaning having a closed account with a balance).  I know folks talk about it, I just hadn't been paying attention.

 

What was your reported balance on the card? 

And to the experts on the forums on these types of things - would having or not having a balance impact how this account impacts your score when it's closed?

Just puttin' syrup on something, don't make it pancakes.
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: US Bank - Kroger conversion - Reduced my score

[ Edited ]

edit to add: Sorry, I forgot to hit the quote button. I was commenting on US Bank's reporting schedule:


rom828 wrote:

 

Update:  Talked with USBank this morning and received the same info you did....they report the first week of the month.  Evidently the CSR with whom I spok epreviously was mistaken when she told me "first 2 weeks of the month".

 


What others have reported is that they report the balance that displays on the last business day of each month (not the balance on your statement, like most other cards), and that they update it right away. So that would agree with the CSR who stated that they report the first week: last business day --> reports that night/ next morning --> first week.

 

I hope all the reporting untangles itself soon. US Bank are good folks to deal with.

* 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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MarineVietVet
Posts: 14,252
Registered: ‎07-14-2009
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Re: US Bank - Kroger conversion - Reduced my score

[ Edited ]

 


beamMEup wrote:

We lost $15,000 of our available CL as well. 

 

However, we were careful to not have a balance reporting during the Nov 1-8 shutdown phase.  Mostly because I haven't been paying attention to how that kind of thing affects CR's and scores (that kind of thing meaning having a closed account with a balance).  I know folks talk about it, I just hadn't been paying attention.

 

What was your reported balance on the card? 

And to the experts on the forums on these types of things - would having or not having a balance impact how this account impacts your score when it's closed?


Well the experts are gone right now but I'll answer.  :smileyhappy:

 

 

It depends.

 

- If a closed CC account with a balance continues to report the original credit limit, then both the balance and the CL of the closed account will be used in the utilization calculations.

 

- If a closed CC account is reporting a zero CL, even if there is a balance on the CC, the card will not be included in the calculations.

 

- If a closed CC account is reporting a non-zero CL but has a zero balance, the card will not be included in the calculations.

 

- If a closed account reports a CL that is equal to the balance (balance chasing), then this will be included in the calculations.  This is the worst-case scenario with regard to utilization.

 

ETA: I said no experts were around and then HTSU shows up.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Established Contributor
rom828
Posts: 932
Registered: ‎08-17-2007
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Re: US Bank - Kroger conversion - Reduced my score

 


beamMEup wrote:

We lost $15,000 of our available CL as well. 

 

However, we were careful to not have a balance reporting during the Nov 1-8 shutdown phase.  Mostly because I haven't been paying attention to how that kind of thing affects CR's and scores (that kind of thing meaning having a closed account with a balance).  I know folks talk about it, I just hadn't been paying attention.

 

What was your reported balance on the card? 

And to the experts on the forums on these types of things - would having or not having a balance impact how this account impacts your score when it's closed?


 

beam, I  had $9 reporting.  

 

You'll probably remember my plight from post I cited for OP or from my post on my score taking such a hit with same info.  Utilization went up just 3% with this 123 card showing closed, but it seems that my  disputing as closed (if I had talked to USBank first I would NOT have done that!) must have had some kind of further negative impact. 

 

And since I know I'm no expert (I leave that designation to you and hauling!! :smileywink:),  I won't even venture a guess or opinion as to how or if   balance/no balance reporting impacts score.

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


Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Re: US Bank - Kroger conversion - Reduced my score

Well, something of an update . . . . I received an email on the 11th, telling me that the statement for USB was ready and I could view it online.  It also indicated that the billing period had changed.  With RBS, the statement always closed on the 6th.  With USB, it will be between 28 and 31 days.  This months billing period closed on the 11th but next mo. it will close on the 12th.

 

In addition, the supervisor whom I had spoken with the day before, never called me back to tell me how they intended to handle this problem for all their new customers.

 

BTW, in response to the question, I have no balance on the card.

 

I sincerely hope this is just a result of the absorption of RBS and is not an indication of things to come.


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Established Contributor
rom828
Posts: 932
Registered: ‎08-17-2007
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Re: US Bank - Kroger conversion - Reduced my score

My dates have pretty much stayed the same.....1 day difference.  Statement used to cut on 17th, now it will be on 16th, with due date of the 15th.

 

I've been pleased with how helpful the CSRs are trying to be...though I know this has got to be a really difficult time for them as well, with the zillions of calls from frustrated customers wanting to know about reporting and due dates, etc.    But it is a shame the supervisor hasn't called you back so at least you wouldnt feel forgotten.

 

Many forum members, including our esteemed haulingtsu,  think very highly of US Bank and have nothing but good things to say, so I think we shouldbe fine with them, once the dust settles.

 

I'm just anxious their reporting of the card as open to show up so I can hopefully recoup those lost points.  And on a good note, since the original card is retained, it doesnt appear that it will report like a new account.....or at least that's what I'm hoping!!

 

 

 

 

 

 

 

 

 

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


Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008
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Re: US Bank - Kroger conversion - Reduced my score

Yay!

 

I didn't get an email but your post got me wondering.  So I logged on and today I can see my due date is now posted.  It's now the 16th (was the 14th with RBS).

My Kroger statement dates always floated around a few days (17th through 19th). 

 

Now, we can see if our new card follows USBank's policy of reporting on the last business day of the month (rather than the statement date like most).  That'll impact the date I make sure I've got the balance that I want to have reported to the CRA's.

 

I'm delighted to be hanging out with USBank - they were on our wish list and we were planning to app for their CC in 2012.  DH gets preapprovals from them all the time (including one last week).  I get preapprovals from them too, but mine are only for business cards.   I just hope they like us in 2010! 

Just puttin' syrup on something, don't make it pancakes.

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