topic Re: Walmart to cap one- score DROP in Understanding FICO® Scoring

Walmart to cap one- score DROP

snickerpedia — Tue, 15 Oct 2019 23:51:12 GMT

So I just updated my experian report and noticed that my snychrony walmart is now listed as closed with the new capital one not reporting?

Is this correct that my AAoA is oging to decrease when the capital one reports. Kinda SUCKS.

Re: Walmart to cap one- score DROP

dragontears — Tue, 15 Oct 2019 23:48:54 GMT

Why would it suck to have your AAoA increase?

Re: Walmart to cap one- score DROP

snickerpedia — Tue, 15 Oct 2019 23:50:51 GMT

oops i mean my AAoA is going to decrease for the new account.

Re: Walmart to cap one- score DROP

Brian_Earl_Spilner — Tue, 15 Oct 2019 23:57:58 GMT

@snickerpedia wrote:
oops i mean my AAoA is going to decrease for the new account.

Higher is better. For the highest scores, you need upwards of 7 years typically.

Re: Walmart to cap one- score DROP

Anonymous — Wed, 16 Oct 2019 01:48:47 GMT

@snickerpedia wrote:
So I just updated my experian report and noticed that my snychrony walmart is now listed as closed with the new capital one not reporting?

Is this correct that my AAoA is oging to decrease when the capital one reports. Kinda SUCKS.

It's the same account, so I'd imagine that the account opened date will remain the same and that it wouldn't be reported as a new account age wise.

Re: Walmart to cap one- score DROP

snickerpedia — Wed, 16 Oct 2019 01:51:49 GMT

but the synchrony account is now under the closed account sections. So when cap 1 reports the account again it will be listed as a new account right? and since this is one of my newer accounts its going to be 2 accounts now listed with a low age. am i missing something here. thanks!!

Re: Walmart to cap one- score DROP

Anonymous — Wed, 16 Oct 2019 02:01:20 GMT

That may be the case then. The age of the new reported account should be the same as the age of the now closed account. If that age is less than your AAoA, you're correct that it would drop your AAoA.

Overall it's probably not a huge deal. Many people see something similar when they refinance mortgage. They may go from having a 13 year old mortgage (account) that is now closed and replaced with a 0 month old open account. Naturally, an AAoA drop would happen there as well.

Re: Walmart to cap one- score DROP

snickerpedia — Wed, 16 Oct 2019 02:03:17 GMT

Oh **bleep**, I wasn't expecting this as I have a very thin file and my stupid walmart account is only 6 months old THANK YOU

Re: Walmart to cap one- score DROP

Anonymous — Wed, 16 Oct 2019 02:05:33 GMT

Well, I suppose the silver lining if you have a very thin file is that this additional account will thicken it a little.

Re: Walmart to cap one- score DROP

snickerpedia — Wed, 16 Oct 2019 02:07:04 GMT

hmm. also if chase looked at it from an application view it would count against 5/24 huh?

Re: Walmart to cap one- score DROP

Anonymous — Wed, 16 Oct 2019 14:12:29 GMT

I would imagine so.

Re: Walmart to cap one- score DROP

Brooklyn2018 — Thu, 17 Oct 2019 00:41:30 GMT

@OP same thing happened to me😡

I called Cap1 and SYNCB to find this out. SYNCB stated they were closing accounts that were making the transition to Cap1.
Called Cap1 and confirmed with specialist that the “Newly” reported “Walmart acct” will have all the back history reporting. This info was directly from Cap1 Credit analyst specialists.....and I call TWICE!! just to double check what I’ve been told.

We shall see...?

Hope that helps.

I❤️NY

ETA: the updated info/acct will be done on 11/15/2019...not sure if that was just for me? Or everyone??

Re: Walmart to cap one- score DROP

snickerpedia — Wed, 16 Oct 2019 22:26:03 GMT

@Brooklyn2018 wrote:
@OP same thing happened to me😡

I called Cap1 and SYNCB to find this out. SYNCB stayed they were closing accounts that were making the transition to Cap1.
Called Cap1 and confirmed with specialist that the “Newly” reported “Walmart acct” will have all the back history reporting. This info was directly from Cap1 Credit analyst specialists.....and I call TWICE!! just to double check what I’ve been told.

We shall see...?

Hope that helps.

I❤️NY

ETA: the updated info/acct will be done on 11/15/2019...not sure if that was just for me? Or everyone??

Great work

Cap one says my current due date is the 27 so reporting on the 15th for me seems weird. I bet they will just do a quick update to everyone on the 15th to include all the back data.

Re: Walmart to cap one- score DROP

GApeachy — Wed, 16 Oct 2019 22:36:44 GMT

The thing is this is big....everyone knows about this situation. It's not gonna trip up Chase or any ccc. The old acct. may disappear over time. Comenity with the change up on the HSN to Synchrony just erased my acct. completely. So as far as my report(s) I've never had a HSN acct. Kinda sucked but kinda doesn't. It took two months to disappear.

Re: Walmart to cap one- score DROP

Brooklyn2018 — Thu, 17 Oct 2019 00:45:56 GMT

@LauraC

Well, so far my SYNCB/WALMART account just shows closed $0 bal exceptional payment history. I HOPE that stays on my reports for a good 10yrs(?) That would be AWESOME!!

Sorry your account disappeared😞

I❤️NY

Re: Walmart to cap one- score DROP

Brooklyn2018 — Thu, 17 Oct 2019 00:49:09 GMT

@snickerpedia

Hopefully, for everyone!!😀

Re: Walmart to cap one- score DROP

Anonymous — Thu, 17 Oct 2019 01:16:26 GMT

In regards to the comment about Chase and 5/24, it may be counted initially but you may well be able to overturn it with recon. Obviously Chase will know about the transition and seeing a closed Sync/WM and an opened C1/WM, it’s a continuation of the existing account, just backed by a new bank. They may be willing to overlook it since technically it isn’t a new account.