topic Re: PC Reporting Question in Credit Cards

PC Reporting Question

ambivalent — Tue, 29 Apr 2014 17:53:13 GMT

I'm full of questions today! Better than being full of something else I guess!

So, I'm looking at my CR from the USAA CMS. My NFCU card that I PC'd YESTERDAY to a cash rewards card is reporting on EX as closed (Credit line closed-consumer request-reported by subscriber). It's still open on the other 2...so...are they going to report is as a whole new credit line? How will this effect my AAoA? I originally opened in in 10/2012. I'm confused.

Re: PC Reporting Question

Anonymous — Tue, 29 Apr 2014 18:23:48 GMT

Closing a CC and opening another in its place will lower your AAoA, assuming that it's other than merely shifting account history to a new product.

Since a closed CC factors into AAoA for a long time, this is similar to simply adding a CC to your portfolio.

If you previously had N cards, and now have N + 1 cards, then the new AAoA can be found by multiplying the old AAoA by:

N / (N + 1)

I don't know the nuances of how NFCU does or doesn't preserve account history and age and so on when doing PCs. So it's worth asking if the new CC is reporting correctly.

Re: PC Reporting Question

BigBS — Tue, 29 Apr 2014 18:26:51 GMT

Haven't dealt with PC at NFCU, but assuming it will happen the way mine did with PenFed recently. They do close the existing card and give you a new card with a new number, but same open date and history. Essentially everything zeroes itself out.

Re: PC Reporting Question

ambivalent — Tue, 29 Apr 2014 19:36:47 GMT

Okay, gotcha. Thank you both.

They aren't giving me a new number either. Just changing the type of card. It has the same interest rate and everything. Hopefully it will report soon.

Re: PC Reporting Question

ambivalent — Thu, 08 May 2014 15:44:02 GMT

Just an update on this in case anyone runs into the same problem... I spoke to NFCU this morning bc the card reported to the other bureaus correctly. They said I'd have to dispute it with EX directly. Just FYI!