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Adverse Action for excessive "new" accts?

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Established Contributor

Adverse Action for excessive "new" accts?

I have to get 2 BB&T cards replaced because when they issued the cards, their "system" removed my unit #, according to them. Smiley Mad 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. 

Message 1 of 22
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Moderator

Re: Adverse Action for excessive "new" accts?

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.

Message 2 of 22
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Established Contributor

Re: Adverse Action for excessive "new" accts?


@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.

Message 3 of 22
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Regular Contributor

Re: Adverse Action for excessive "new" accts?


@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. Smiley Mad 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. 

Message 4 of 22
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Regular Contributor

Re: Adverse Action for excessive "new" accts?

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. 

Message 5 of 22
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Re: Adverse Action for excessive "new" accts?

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.

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Re: Adverse Action for excessive "new" accts?


@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. 

Message 7 of 22
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Established Contributor

Re: Adverse Action for excessive "new" accts?


@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.

 

@ddm2k1 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. 

Message 8 of 22
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Re: Adverse Action for excessive "new" accts?


@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.

 

@ddm2k1 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.  

Message 9 of 22
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Super Contributor

Re: Adverse Action for excessive "new" accts?

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.

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