AMEX Costco to Citi Costco Credit report effects

[ctpmd]

Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

[jacetx]

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@ctpmd wrote:
Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

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AAoA is not affected immediately after closing a card, the closed card continues to be factored into the AAoA for another 10 years. Maybe your utilization was affected? Or maybe your credit mix? Take a look at this: http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190

[kdm31091]

Your "AAOA" on creditkarma or some such will take a "hit" when a card is closed because they only count open accounts.

Your real, FICO AAOA is not impacted by closing accounts until 10 years when they fall off.

[EddieK]

My EQ08 definitely was affected, dropped 14 points when my Costco Amex closed.  Always stay at 1% utilization on one card so that's not why the score dropped.  Hoping when the new Citi card reports I gain back those points.

[android01]

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@ctpmd wrote:
Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

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I'm curious to find out this as well.  I thought I'd see the new card reflected on my reports already as my closing date is the 21st of each month, which was one day after the Citi card was opened.  It didn't report though, I'll have to wait until 7/21 to see.  My AMEX Costco was one of four AMEX cards I have, all dated to 1986. 

I've read a few anecdotal things saying that the Citi Costco card will be dated to when the AMEX version was actually opened - NOT the Member Since date.  I guess it depends on whether AMEX used two seperate date fields (one for date opened and one for Member Since) in their records as to which date will be reported by Citi.  

I didn't see any other affects of the AMEX Costco card closing on my scores. 

[SunriseEarth]

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@ctpmd wrote:
Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

---

Unfortunately, we won't know until we see the reporting.   Hopefully, Citi will report with the opening dates reported originally by AMEX.   It seems common when accounts are transferred to other lenders that they keep the original reporting.  I hope so, since it might actually improve my AAoA.

As to your point of AAoA taking a "decent hit," it didn't.   AAoA includes all accounts on your reports, whether they are opened or closed.  Sites like CK actually calculate average age of open accounts (AAoOA), not AAoA, so it's misleading.  

[Imperfectfuture]

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@android01 wrote:

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@ctpmd wrote:
Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

---

I'm curious to find out this as well.  I thought I'd see the new card reflected on my reports already as my closing date is the 21st of each month, which was one day after the Citi card was opened.  It didn't report though, I'll have to wait until 7/21 to see.  My AMEX Costco was one of four AMEX cards I have, all dated to 1986. 

I've read a few anecdotal things saying that the Citi Costco card will be dated to when the AMEX version was actually opened - NOT the Member Since date.  I guess it depends on whether AMEX used two seperate date fields (one for date opened and one for Member Since) in their records as to which date will be reported by Citi.  

I didn't see any other affects of the AMEX Costco card closing on my scores. 

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Not the only Citi card with report problems.  Citi DP has yet to report, still high utilization (for me) at 39%, ugh.

[RonM21]

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@SunriseEarth wrote:

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@ctpmd wrote:
Hey guys,

A recent credit report update now shows my AMEX Costco account is now closed, and my new Citi Costco Card has yet to be reported.

At any rate, will the 17 year history on my AMEX follow over and be reported to the new/transitioned Citi account? I'm asking because my AAoA took a decent hit once the AMEX Costco card was closed.

Anyone else check their reports and see any effects?

P.S. The account was actually opened 3 years ago, but was backdated to my oldest AMEX card of 17 years.

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Unfortunately, we won't know until we see the reporting.   Hopefully, Citi will report with the opening dates reported originally by AMEX.   It seems common when accounts are transferred to other lenders that they keep the original reporting.  I hope so, since it might actually improve my AAoA.

As to your point of AAoA taking a "decent hit," it didn't.   AAoA includes all accounts on your reports, whether they are opened or closed.  Sites like CK actually calculate average age of open accounts (AAoOA), not AAoA, so it's misleading.  

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That would be unfortuane if they didn't carry over the original opening date.  I agree, I thouhgt the AAoA should not take a hit, due to it being on there 10 years when closed.

[dragontears]

My guess based on other portfolios that Amex has sold to other banks recently, is that Citi will report that actual open date instead of the incorrect backdate that Amex reported.

[Anonymous]

I hope it reports the way you want it to OP.