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Wachovia to Citi

Frequent Contributor

Wachovia to Citi

Hi,

I have previously screwed up with Citi. The card Platinum Select I had with them was charged off.
I have all my accounts and a credit card with Wachovia what will this new merger you think mean for me?

Chanduwar
Message 1 of 6
5 REPLIES
Frequent Contributor

Re: Wachovia to Citi

Bump!!
Message 2 of 6
Moderator Emeritus

Re: Wachovia to Citi

You have at least a year to get your "Ducks in a row"
 
 
Message 3 of 6
Frequent Contributor

Re: Wachovia to Citi

By then the entry of Citi will fall off my CR's. Will that help?
Message 4 of 6
Moderator Emerita

Re: Wachovia to Citi

Everyone should realize that all this what-if is theorizing. It's very understandable to be concerned, but it's pretty much a crap-shoot, I think.

For your specific question:

Just because it won't show on your credit reports any more, due to the 7-year reporting rule, doesn't mean that a company doesn't keep internal records that go back much, much farther than that. So three possibilities:

  • they'll see it on their internal records and deny
  • they'll see it on their internal records and say why not, you've cleaned up your act
  • they won't see it on their internal records, because they didn't merge the old history into the new cleanly.

    Anything else is guesswork.

    I'd keep doing your clean-up and make sure that by then, your credit is diversified among multiple lenders.

    The rule book is being re-written during all this, I think.
  • * 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
    Message 5 of 6
    Highlighted
    Frequent Contributor

    Re: Wachovia to Citi

    I'm in the same position, Chanduwar, except my Citibank already fell off my reports. I've heard they hold grudges, so I haven't gone anywhere near them. I haven't needed to, so it really hasn't been an issue.
     
    I'll post if anything screwy happens with my accounts. I have checking, savings, and CC, but was planning to move the savings anyway.
     
     
    FAKO TU: 730 (Too poor to check the real scores these days!)
    Message 6 of 6