Re: My citibank loans were purchased by Discover
09-21-2012 12:12 AM
Also, my loans with citibank are a total of ~10 TLs on my credit report (marked SLC). Will these close and then 10 new ones open with Discover? Won't that hurt my AAoA? The tradelines with Citibank have been on my credit report for ~8 years so I imagine my CS will take a nice hit if I suddenly have 10 new TLs pop up.
Citi Bank first sold all my Loans to Sallie Mae but the private student loan. Just recently they sold my private loan to Discover. In my case, when this happened the account number stayed the same. History stayed the same IF the loans were in repayment. So, when I contacted Great Lakes for the Special Direct Consolidation, all eight loans from Sallie created three new accounts. I got hit with to much new credit. The private loan sold to Discover did not effect my credit good or bad. Actually, I have had a very good experience with both Discover and Great Lakes. I would love to use the private loan with Discover as a good reference for one of thier cards.