New Member
Posts: 2
Registered: ‎10-21-2007
Unfairly penalized 14 points due to change in Credit Card company ownership

I had a 730 score which was going to enable me to get a refinance (720 required) until GMAC sold their credit company to Capital One.  A charge of $200 on that "new card" triggered a 14 point drop because it says I carry balances on too many credit cards, but I have exactly the same amount of credit cards with balances as before.  The only possible explanation is it must be showing that I carry both cards as open accounts on Equifax which is ridiculous given the size of GMAC, Capital One and Equifax.  What is also infuriating is that card has had a zero balance at the end of every billing cycle for at least 5 years as I just use for automatic payments on recurring household bills.  Where do I start to get that resolved?