topic New Abbreviation - AAA in Credit Cards

New Abbreviation - AAA

MidnightVoice — Sun, 19 Dec 2010 21:05:54 GMT

No, nothing to do with cars. It stands for "Accidental Adverse Action"

Two events.

1 I lost a wallet with some CCs in it. Two companoes (Lowes and a Store in the midwest) closed the old account and gave me a new one.

2 Local gasoline card - changed banks from Barclays to a new, midwest bank.

In both these cases I had old (some very old) CLs closed and new ones opened. Thus my number of accounts went up and my average age of accounts went down - not nice. And my one and only MC was changed to a Visa - not nice either.

No one did anything wrong, but it was the same as an AA from a CCC

Re: New Abbreviation - AAA

DI — Sun, 19 Dec 2010 21:54:59 GMT

American Automobile Association

Re: New Abbreviation - AAA

haulingthescoreup — Mon, 20 Dec 2010 02:24:47 GMT

"Accidental Adverse Action", huh?

I once thought I'd lost a CC. I didn't report it, because I didn't want a new account showing up. (Finally found it in The Land That Time Forgot, aka under the passenger seat of my Accord.)

It's amazing how banks do things without any regard for how it impacts consumers' credit reports. A bunch of members here had this happen when their RBS Kroger cards switched to US Bank.

You can't tell me that the banks can't make a policy that they will keep the opening date when it's a takeover like this.