topic Re: DSNB inconsistency vent in Credit Cards

DSNB inconsistency vent

emily15 — Tue, 28 Jul 2015 03:52:22 GMT

So previously I posted about how i was told on separate occasions by dsnb reps that in August all lines on my macys account were going to be combined.
Fast forward to three days ago..i called bloomingdales to ask if they could move a large purchase from my revolving line to my major purchase line. Rep says since their getting rid of the MP line soon she doesnt know if they can do it.. puts me on hold finally comes back and says it was moved. I asked her if all the lines (i was just approved for a couple weeks ago including the club account) will combine next month she says " they are getting rid of those lines, does that mean all the credit limits will be combined i dont think so" ...

I said "so they just let me open these lines (club account is now reporting 3500) in addition to my revolving only to close them a month later?? how will the report? Closed? Transferred? Deleted??

She had no comment. She literally ignored my question and asked if there was anything else i needed.

Now I'm paranoid about how this will report and the effect/toll it will have On my credit!
Ugh!

Guess ill just have to wait and see. .

Re: DSNB inconsistency vent

Anonymous — Tue, 28 Jul 2015 03:58:40 GMT

One should not open accounts with a limited time to live.

Re: DSNB inconsistency vent

emily15 — Tue, 28 Jul 2015 04:00:52 GMT

True some of us learn the hard way I guess

Re: DSNB inconsistency vent

Anonymous — Tue, 28 Jul 2015 04:12:37 GMT

Sorry to hear you are worried! I would say to call back and ask for a supervisor to get the best answer.

I have both Macy's and Bloomingdale's. I love my Bloomingdale's card but I agree that DSNB is all over the place.

I received a written notification in the mail from Bloomingdale's about a month ago and read it carefully. It did indeed say all major purchase lines were going away -for Bloomingdale's. I 'm sure O threw it away or I woul take it out and post it.

Emily, perhaps you received one too?

Now, re/ Macy's - several on here are saying that Macy's is combining major purchase lines and revolving. That may be the case. I really can't comment on that as Macy's stranegly never sent me any communication on it either way.

I will keep Bloomingdale's open but am counting the days down excitedly to the day when I close Macy's down (probably in two weeks). Had the card for 14 months and they have repeatedly canceled orders I needed sent out for my daughter's birthday (thanks Macy's), canceled e-gift cards that I sent her for college graduation and other special events like birthdays (took multiple phone calls to replace them and lots of being transferred around. One time it took 40 minutes and several phone calls to replace). This is all supposedly part of their fraud prevention but if you read complaints about Macy's sometime online - there are hundreds of similar instances of them canceling people's orders in the name of supposed fraud prevention - not once, but 5-6 times for the same person. They don't call you to verify first, they just cancel it outright. I'm done with that. Going to have a card cut-ujp party on the day I decide to cancel!

By the way, Nordie's had an e-gift card in my daughter's inbox within 7 minutes of my calling them and telling them that Macy's had me calling them multiple times to get the e-gift card replaced and still hadn't resolved it.

We're talking gift cards for small amounts so it's not as if a large amount flagged anything. I'm posting this just to show more of the inconsistency, and it's really a shame. Not crazy about their $10 shipping charges either. Sad, because I really love my Bloomimngdale's card.

Re: DSNB inconsistency vent

emily15 — Tue, 28 Jul 2015 04:17:56 GMT

I actually shop at both stores and just bought furniture (for a good deal) with macys on a special event (12 mos 0%) .. i'll see what happens with them and in a year re-evaluate. Might be worth keeping if I eventually get upgraded to Amex but who knows.

The damage is done either way. so i'll just have to hope for the best.

I honestly don't care so much about losing the limits as I care about having my reports showing closed accounts right after opening. So hopefully they get deleted outright.

Re: DSNB inconsistency vent

Anonymous — Tue, 28 Jul 2015 04:22:09 GMT

There was another thread recently where several posters told the OP who wanted to close his newly opened Barclay Apple that it wouldn't matter to close a newly opened account. I think that is correct, that it doesn't really matter.

Re: DSNB inconsistency vent

emily15 — Tue, 28 Jul 2015 04:23:14 GMT

Oh well in that case good!! Haha

Re: DSNB inconsistency vent

emily15 — Tue, 28 Jul 2015 04:26:24 GMT

I thought it was better to have it say closed at consumers request rather than closed by the bank. Idk

Re: DSNB inconsistency vent

FinStar — Tue, 28 Jul 2015 04:39:07 GMT

@emily15 wrote:
I thought it was better to have it say closed at consumers request rather than closed by the bank. Idk

I wouldn't worry about it OP. I mean, the "closed by credit grantor" remark would not really raise any eyebrows (unless a bunch of accounts had this remark around the same period) and some deterioration had occurred on your overall profile

I believe we're all going to find out soon enough how some of these will end up reporting. Besides, unless that item comes up in any underwriting discussion, it's easily explainable. There's a variety of reasons why "closed by credit grantor" would display, for instance, when a service provider goes bust and the credit card portfolio is no longer offered or ends. "Better" is really more about principle in most cases.

Re: DSNB inconsistency vent

SunriseEarth — Tue, 28 Jul 2015 09:26:07 GMT

I doubt we'll know anything until next month. Last week, I was told on the phone that all Macy's lines would combine, including AMEX, and new cards would ship on August 15th. The letter I received indicated that reporting would update on the 26th of this month and that lines would only combine if they had balances and that AMEX and the store line would remain separate. Others have said that all store lines would combine, so long as they were either opened or used in the past 12 months, and AMEX may or may not be combined on that, depending on who you ask and what day.

I guess we'll all find out next month.

Re: DSNB inconsistency vent

SunriseEarth — Tue, 28 Jul 2015 09:28:51 GMT

@emily15 wrote:
I thought it was better to have it say closed at consumers request rather than closed by the bank. Idk

It makes no difference in terms of FICO scoring. Some have suggested it may look better in some circumstances of manual review. So long as the account is in good standing, I doubt it would make much difference

Re: DSNB inconsistency vent

mxp114 — Wed, 29 Jul 2015 00:51:00 GMT

This is industry wide, anytime big changes are coming no one seems to know much about the changes. Including answers to such basic questions. The executive teams should provide more educational tools for reps to reference when asked. So from what I understand for Store accounts with the various extra types but not AmEx, the extra accounts will report as $0 and transferred. The balances and CL will merge into the store account and only that account will report. If you have multiple types but no activity in the last 6-24 months (reps vary on the time), then the acct types will simply close and the CL won't transfer into the store.

Re: DSNB inconsistency vent

taxi818 — Wed, 29 Jul 2015 02:27:29 GMT

@emily15 wrote:
So previously I posted about how i was told on separate occasions by dsnb reps that in August all lines on my macys account were going to be combined.
Fast forward to three days ago..i called bloomingdales to ask if they could move a large purchase from my revolving line to my major purchase line. Rep says since their getting rid of the MP line soon she doesnt know if they can do it.. puts me on hold finally comes back and says it was moved. I asked her if all the lines (i was just approved for a couple weeks ago including the club account) will combine next month she says " they are getting rid of those lines, does that mean all the credit limits will be combined i dont think so" ...

I said "so they just let me open these lines (club account is now reporting 3500) in addition to my revolving only to close them a month later?? how will the report? Closed? Transferred? Deleted??

She had no comment. She literally ignored my question and asked if there was anything else i needed.

Now I'm paranoid about how this will report and the effect/toll it will have On my credit!
Ugh!

Guess ill just have to wait and see. .

No need to be paranoid. Asking a rep like that is like just going outside and asking the heavens. No One knows until it happens. I got my letter and they stated for Macy's on August 10th. my Club and Special events will be closed. Worded. Any balances will be combined with Revolving account. I take it to mean. without a balance Closed. Dead in the water. Ok. Next to follow is macy's itself. Which i will close. Including my Amex version.

Re: DSNB inconsistency vent

Booboo71 — Wed, 29 Jul 2015 02:35:32 GMT

So I have Macys and Bloomies my Macys has a 2100K limit and a club limit of 2.5K.. Does that mean they will combine? Bloomies is just 1.5K no other accounts attached to it. All account opened in March 2012.

Re: DSNB inconsistency vent

pip3man — Fri, 31 Jul 2015 22:14:06 GMT

I think all lines will be combined. Just few days ago I was shopping at Macy's and had to call in to the credit department to bump my limit. The rep I spoke to did say something significant, "mister I see your current credit limit is $27000" and I was a lil shocked cos my club account only has an $8k limit and the revolving @5k. In the past when I had to call in, they always specify I do have $8k on the club but it was different this time around. So when I did the Math, including my $14k furniture line everything added up to $27k not counting the Amex side. Another data point is the rep stated they couldn't just increase the limit on the club account alone, they would have to increase the entire $27k limit. Now wait for this part, a credit bureau pull will be required for the additional increase. U bet I declined

Re: DSNB inconsistency vent

Anonymous — Fri, 31 Jul 2015 22:24:34 GMT

@taxi818 wrote:
without a balance Closed. Dead in the water. Ok. Next to follow is macy's itself. Which i will close. Including my Amex version.

Taxi, I'm right there with you and will be closing my Macy's card next wek - albeit for different reasons than those listed here. They keep canceling online orders because their fraud department is on overdrive and I'm tired of spending time dealing with it. Lots of wasted time on the phone trying to get orders reinstated that they shouldn't have canceled in the first place. I'm having a card cutting-up party for my Macy's card next week. You're welcome to join in.