Wachovia to Citi

[Chanduwar]

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

[Chanduwar]

Bump!!

[Anonymous]

You have at least a year to get your "Ducks in a row"

[Chanduwar]

By then the entry of Citi will fall off my CR's. Will that help?

[haulingthescoreup]

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.

[Anonymous]

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.