topic Re: Adverse Action for excessive "new" accts? in Credit Cards

Adverse Action for excessive "new" accts?

cr101 — Sat, 31 Oct 2020 21:20:53 GMT

I have to get 2 BB&T cards replaced because when they issued the cards, their "system" removed my unit #, according to them. This resulted in me not receiving the cards. They want to reissue the cards with a new number.

Based on what some of their reps have told me (conflicting info from reps, as usual), the old card will stay on my credit report and the new card will also start appearing on my report. My concern is that it will look as if I've opened 4 new BB&T accounts in one month. Is that right or do creditors have a way of automatically not counting lost/stolen cards?

I had a card replaced last year and CreditWise credit monitoring included the lost/closed account and its replacement in my "new accounts" tally. I'm just worried that my creditors also look at it that way and think that I'm "credit seeking" when really I just got the cards replaced.

Re: Adverse Action for excessive "new" accts?

CreditCuriosity — Sat, 31 Oct 2020 21:38:01 GMT

They should treat it as a lost card/account and transfer the history over. If that is the case then they dont count as new accounts. Just make sure that is the case if you are concerned about more than the initial 2 accounts being counted. The other 2 cards should if done correctly be removed from your credit report.as the new account #'s should indeed reflect the old card information if I am understanding correctly.

Re: Adverse Action for excessive "new" accts?

cr101 — Sat, 31 Oct 2020 22:05:46 GMT

@CreditCuriosity wrote:
They should treat it as a lost card/account and transfer the history over. If that is the case then they dont count as new accounts. Just make sure that is the case if you are concerned about more than the initial 2 accounts being counted. The other 2 cards should if done correctly be removed from your credit report.as the new account #'s should indeed reflect the old card information if I am understanding correctly.

I'm hoping that you're right. We'll see. Thanks for your input.

Re: Adverse Action for excessive "new" accts?

Anonymous — Sat, 31 Oct 2020 22:40:54 GMT

@cr101 wrote:
I have to get 2 BB&T cards replaced because when they issued the cards, their "system" removed my unit #, according to them. This resulted in me not receiving the cards. They want to reissue the cards with a new number.

Based on what some of their reps have told me (conflicting info from reps, as usual), the old card will stay on my credit report and the new card will also start appearing on my report. My concern is that it will look as if I've opened 4 new BB&T accounts in one month. Is that right or do creditors have a way of automatically not counting lost/stolen cards?

I had a card replaced last year and CreditWise credit monitoring included the lost/closed account and its replacement in my "new accounts" tally. I'm just worried that my creditors also look at it that way and think that I'm "credit seeking" when really I just got the cards replaced.

BB&T did not indicate (and probably has no tracking, unless sent as parcel) if the cards were returned to sender, or delivered to your main office. I'd make a diligent effort to explore exactly that to make sure your leasing agents didn't just get an unexpected windfall to go Christmas shopping. They DO have your credit information on file and have AT LEAST the last 4 of your SSN, which many times is all that's required to activate a CC.

Re: Adverse Action for excessive "new" accts?

Anonymous — Sat, 31 Oct 2020 22:47:11 GMT

If it's still reporting, it means the old account is still open. That is the result of pure sloppiness on behalf of BB&T. SOMETHING is happening:

1.) Agent you spoke with wants to get credit for a new account, or

2.) Agent you spoke with has no vested interest or awareness in making sure their product accurately reports on your credit history, or

3.) Agent you spoke with was either in sales not service, or conveniently "forgot" how to lost/stolen a card without opening a new account - one of the SIMPLEST functions of a call center rep's job.

Either way, an account is an account is an account. But:

1.) If BB&T was being (unfortunately) truthful, you should AT THE VERY LEAST see that first account CLOSED.

2.) The open/closed account (again, unfortunately) will not continue to age in a way that benefits your AAoA. It will forever be a "1 month" averaged into that metric and another +1 to your x/24.

Re: Adverse Action for excessive "new" accts?

rostrow416 — Sat, 31 Oct 2020 23:08:16 GMT

Getting a card replaced typically keeps your history even if you don't see all the monthly reports listed, the original opening date should stay on the new account number.

Re: Adverse Action for excessive "new" accts?

Anonymous — Sun, 01 Nov 2020 01:29:40 GMT

@rostrow416 wrote:
Getting a card replaced typically keeps your history even if you don't see all the monthly reports listed, the original opening date should stay on the new account number.

Agree 100% This is exactly what "should" happen in a case like this. A card replacement shouldn't change ANYTHING on your credit report.

Re: Adverse Action for excessive "new" accts?

cr101 — Sun, 01 Nov 2020 02:04:36 GMT

@rostrow416 wrote:
Getting a card replaced typically keeps your history even if you don't see all the monthly reports listed, the original opening date should stay on the new account number.

Yes, I'm sure that the info will carry over. But, what I don't want to happen is to have the original card stay on my report. This happened to me twice with Synch over the past year. I've also had 1 particular Cap1 card replaced twice over the past year bc of fraudulent charges and I didn't realize until now that all Cap1 did was change the card number both times; the original/lost cards aren't in my 'closed' section of my reports. This is how it should be done IMO.

@Anonymous I'm just waiting until their imposed deadline to see if the cards are returned. If not, I'll have no choice but to let them reissue the cards. I'm waiting on a callback from their EO. So, maybe they can give me a concrete answer on how they'll report if they're reissued. I'm also thinking about asking them if we can just part ways by closing the accounts and having them removed from my reports alltogether since this was their fault.

Re: Adverse Action for excessive "new" accts?

FinStar — Sun, 01 Nov 2020 04:26:02 GMT

@cr101 wrote:
@rostrow416 wrote:
Getting a card replaced typically keeps your history even if you don't see all the monthly reports listed, the original opening date should stay on the new account number.
Yes, I'm sure that the info will carry over. But, what I don't want to happen is to have the original card stay on my report. This happened to me twice with Synch over the past year. I've also had 1 particular Cap1 card replaced twice over the past year bc of fraudulent charges and I didn't realize until now that all Cap1 did was change the card number both times; the original/lost cards aren't in my 'closed' section of my reports. This is how it should be done IMO.

@Anonymous I'm just waiting until their imposed deadline to see if the cards are returned. If not, I'll have no choice but to let them reissue the cards. I'm waiting on a callback from their EO. So, maybe they can give me a concrete answer on how they'll report if they're reissued. I'm also thinking about asking them if we can just part ways by closing the accounts and having them removed from my reports alltogether since this was their fault.

Unfortunately, they're not going to remove the accounts from your CRs for non-receipt of the card since you legitimately applied both times. Yes, it was an administrative error on their part, but it's fixable. The tradelines are simply updated on your CRs with the new account # and its history.

Re: Adverse Action for excessive "new" accts?

wasCB14 — Sun, 01 Nov 2020 04:39:19 GMT

Is Synchrony the only major issuer that will routinely report a replacement card as a new account?

Other issuers may do it now and then in error, like my extra Citi account on EQ from the PC to Costco.

Re: Adverse Action for excessive "new" accts?

Anonymous — Sun, 01 Nov 2020 04:50:00 GMT

Someone please correct me if I'm wrong, but don't banks issue an account number that isn't your credit card number? That account number won't change, but the card number would need to fit security purposes.

Re: Adverse Action for excessive "new" accts?

FinStar — Sun, 01 Nov 2020 04:52:30 GMT

@wasCB14 wrote:
Is Synchrony the only major issuer that will routinely report a replacement card as a new account?

Other issuers may do it now and then in error, like my extra Citi account on EQ from the PC to Costco.

Some CUs tend to do the same and USAA used to do so eons ago. FWIW, any SYNCB accounts I've had that were compromised due to fraud (PayPal MC, Marvel MC, etc.) never had a second tradeline report in its place, IME. By the same token, other members' outcomes have differed.

Re: Adverse Action for excessive "new" accts?

FinStar — Sun, 01 Nov 2020 04:55:34 GMT

@Anonymous wrote:
Someone please correct me if I'm wrong, but don't banks issue an account number that isn't your credit card number? That account number won't change, but the card number would need to fit security purposes.

Are you talking about an internal customer profile number or...?

Re: Adverse Action for excessive "new" accts?

Anonymous — Sun, 01 Nov 2020 06:05:19 GMT

I suppose so, maybe. This came up recently, I don't recall the specific situation, but in order to verify something or other, someone had to provide their account number from their CR, specifically not their card number. I'd be really surprised to learn that issuers don't keep an account number for a customer that isn't the card number. Then again, I've been surprised a lot lately. 🙂

Re: Adverse Action for excessive "new" accts?

cr101 — Sun, 01 Nov 2020 09:51:07 GMT

@wasCB14 wrote:
Is Synchrony the only major issuer that will routinely report a replacement card as a new account?

Other issuers may do it now and then in error, like my extra Citi account on EQ from the PC to Costco.

Oh, gee. Thanks. I PCd from Rewards+ to DC recently. With my luck, this will happen to me, too. EQ is already my most battered report

I pulled out my TU report and all of my cards. The cards list the first 12 digits of the acct #. But, my DCU card, which happens to be the only CU-issued card that I have, lists my member #. The TU report says, "For your protection, your account numbers have been partially masked, and in some cases scrambled." Blocking out the last 4 is protecting my acct in TU's eyes.

Re: Adverse Action for excessive "new" accts?

UncleB — Tue, 03 Nov 2020 07:49:52 GMT

@Anonymous wrote:
I suppose so, maybe. This came up recently, I don't recall the specific situation, but in order to verify something or other, someone had to provide their account number from their CR, specifically not their card number. I'd be really surprised to learn that issuers don't keep an account number for a customer that isn't the card number. Then again, I've been surprised a lot lately. 🙂

You may be thinking of American Express. They put a 'pseudo' account number on your credit report, and if you have to call regarding a credit report issue they'll ask you to provide the number from the actual credit report, which is different from the card number.

As far as I know, Amex account numbers on credit reports often (always?) start with 3499; my own all have, including my now-closed Amex installment loan.

Re: Adverse Action for excessive "new" accts?

RehabbingANDBlabbing — Sun, 22 Nov 2020 15:23:39 GMT

I can confirm that BB&T does report a new account if you report your card lost/stolen. For me, the first card never arrived. I waited a month, because they can be slow, but it never showed up. So they reported the first card as lost/stolen and sent me a new one. Unfortunately, they then reported as second trade line with the new account number on Equifax and TransUnion. On Experian, they did it the right way and updated the original one.

Now, when I say they reported a new account, they did report it as being opened on the same opening date. They marked the original trade line as "lost/stolen" so there are now two new accounts showing on my EQ and TU reports. If your card was opened for a while, this might not be a problem. But this was a brand new card, so I now have 2 brand new accounts showing. Here is what it looks like on my TU report from CreditKarma.

Re: Adverse Action for excessive "new" accts?

cr101 — Sun, 22 Nov 2020 15:43:37 GMT

I swear the people at BB&T are extremely incompetent. My credit report now shows that the accounts have been closed, even though multiple reps, including someone from their "executive escalations" team told me last week that I have until this upcoming week to get the replacements. However, they were closed on or before the 20th. I just can't believe that they can make so many mistakes on one account. Unbelievable.

Re: Adverse Action for excessive "new" accts?

RehabbingANDBlabbing — Sun, 22 Nov 2020 16:04:31 GMT

@cr101 wrote:
I swear the people at BB&T are extremely incompetent. My credit report now shows that the accounts have been closed, even though multiple reps, including someone from their "executive escalations" team told me last week that I have until this upcoming week to get the replacements. However, they were closed on or before the 20th. I just can't believe that they can make so many mistakes on one account. Unbelievable.

After all that and then some, I just closed my cards with them. My card had gotten compromised at a gas station. I only use this card for gas, so I need a card that can be easily replaced if it gets compromised. If I reported it lost again, that would ANOTHER new account. What really made up my mind for me was that they put me on hold for over and hour to report it lost. I tried again a day later, and they put me on hold for 40 minutes, then hang up. That's ridiculous when Cap1, Discover, DCU, Alliant, and AmEx all allow me to report my cards lost online with the click of one or two buttons. And they don't proceed to report a new account on my credit file....

Re: Adverse Action for excessive "new" accts?

cr101 — Sun, 22 Nov 2020 16:44:28 GMT

@RehabbingANDBlabbing wrote:
@cr101 wrote:
I swear the people at BB&T are extremely incompetent. My credit report now shows that the accounts have been closed, even though multiple reps, including someone from their "executive escalations" team told me last week that I have until this upcoming week to get the replacements. However, they were closed on or before the 20th. I just can't believe that they can make so many mistakes on one account. Unbelievable.
After all that and then some, I just closed my cards with them. My card had gotten compromised at a gas station. I only use this card for gas, so I need a card that can be easily replaced if it gets compromised. If I reported it lost again, that would ANOTHER new account. What really made up my mind for me was that they put me on hold for over and hour to report it lost. I tried again a day later, and they put me on hold for 40 minutes, then hang up. That's ridiculous when Cap1, Discover, DCU, Alliant, and AmEx all allow me to report my cards lost online with the click of one or two buttons. And they don't proceed to report a new account on my credit file....

That sucks. I'm sorry. I know that you worked to get your score up. I hope that it doesn't affect it too much...

Yes, their service is horrible, at least when dealing with their actual managers, who are combative. I handle escalations for banks. So, I'm always shocked when I encounter this level of service. Their three-week escalation response time policy is just laughable and shows that they don't care. The banks that I work with respond within 1-2 business days...

If you're looking for a new "throwaway" card, I recommend Capital One. I've had one particular Cap1 card reported lost twice bc of fraudulent charges and all Cap1 did is remove the fraudulent charges and send me a new card number. No new account was ever reported either time. I misplaced my Barclays card last month and they promptly sent a new card with a new number. They only updated the card number on my credit reports.