I was recently informed that my Chase Sony card would be moved over to Capital One so that wasn't a surprise. What was a surprise was the 7 point drop in my FICO score when it happened! It is showing a decrease and description as "Account transferred or sold."
Has this happened to anyone else? Will it go back up once the "new" account with Capital One is reported? Most importantly since this card is the oldest item in my credit history will the date I opened the account be changed to present day or will it stay the same?
I wonder is it works the same way with mortgages transferred/sold since my morgate in 3 years has been sold to 4 companies.
So i'm thinking if I lost points everyrtime it's transferred/sold.
I think this is similar to when Kroger changed banks, you may have to complain until its changed to the original date, but they finally gave in
Of course that was not chase or r capital one there
If that's what happens, good luck with that .. all the Cap One reps I've spoken to (frontline, senior account managers and whomever they escalated my call to once) have all seemed pretty powerless to do ANYTHING. I'm sure that as soon as you call, they'll compliment you on making your payments on time and being a valuable customer, even if your card just got sold to them. That seems to be all they can do, sadly.
YMMV of course.
The email I sent (raising this very question) was met with a response prompting me to call them directly. The crazy thing is that I have left the card open just because it fluffs my FICO score because of how long it has been active. But now I'm losing points for a decision that was out of my control. If the "date account was opened on" is not the TRUE open date I will consider closing the account all together but then I'd be stuck with 2 accounts closed which is a nightmare... Thanks for the feedback so far!
I got the same letter and I had closed my account last year and had agreed to pay acertain amount each month at a low percentage. I told Sony , I had the agreement with Chase and if my information was sold to someone else they will have alaw suit on their hands. This month, I did not receive a bill from Capital One but from Sony with my same account # on it.