@corymcd88 wrote:
@LS2982 wrote:
@corymcd88 wrote:
@LS2982 wrote:Anyone know about Best Buy store card or Household Bank yet?
I just spoke to HSBC Credit depo and they said yes.
Yes to what??? They are keeping these or sold to Cap1?
Yes they are selling eveything to Capital One, I can't wait I love Capital One.
Who did you hear this from?? An HSBC rep. or a CSR from a specific card customer care?
Reporting as a new tradeline but with original opening date? That "new account" will hurt my AAoA 
I just need to close Orchard. I was going to hang on to it until my next AF hit, but there's no point in keeping the stupid thing.
@JustMe77 wrote:Reporting as a new tradeline but with original opening date? That "new account" will hurt my AAoA
The letter they sent with my "new" card wasn't very specific -- It certainly seemed that the "new" HSBC card would just report as a new number - no changes to age etc. It was a little more vague on what Cap One will report as it just says they will report that the account is now owned by them.
My HSBC statement cuts in a bit less than a week so I'll be interested to see how that reports - VERY interested in how it all will report after the sale. The letter hints that it will retain age etc. but.............
@stefanc wrote:
@JustMe77 wrote:Reporting as a new tradeline but with original opening date? That "new account" will hurt my AAoA
The letter they sent with my "new" card wasn't very specific -- It certainly seemed that the "new" HSBC card would just report as a new number - no changes to age etc. It was a little more vague on what Cap One will report as it just says they will report that the account is now owned by them.
My HSBC statement cuts in a bit less than a week so I'll be interested to see how that reports - VERY interested in how it all will report after the sale. The letter hints that it will retain age etc. but.............
Yeah, I just don't want to risk it. If it's anything like what happens when you report a card lost/stolen, you get a new tradeline but with the same account history. For me, even if that happens, the new account will hurt me. I was going to close this in 5-6 months but I certainly don't need to wait. My statement closing date is 2/18. I paid the balance of on 2/3 but it hasn't posted yet. As soon as it posts, I'll close it.
I dont even want to guess what can go wrong here.
@JustMe77 wrote:
@stefanc wrote:
@JustMe77 wrote:Reporting as a new tradeline but with original opening date? That "new account" will hurt my AAoA
The letter they sent with my "new" card wasn't very specific -- It certainly seemed that the "new" HSBC card would just report as a new number - no changes to age etc. It was a little more vague on what Cap One will report as it just says they will report that the account is now owned by them.
My HSBC statement cuts in a bit less than a week so I'll be interested to see how that reports - VERY interested in how it all will report after the sale. The letter hints that it will retain age etc. but.............
Yeah, I just don't want to risk it. If it's anything like what happens when you report a card lost/stolen, you get a new tradeline but with the same account history. For me, even if that happens, the new account will hurt me. I was going to close this in 5-6 months but I certainly don't need to wait. My statement closing date is 2/18. I paid the balance of on 2/3 but it hasn't posted yet. As soon as it posts, I'll close it.
AFAIK you lose nothing. You have a "new" tradeline that replaces your existing one with the same payment history just owned by a different lender of record.
The definition of *new* from a FICO perspective is length that it's been open. In this case, it has the same payment history and the same date of opening... and therefore it's not "new new" so to speak and there will be no penalty associated with it.
That aaid in your case you no longer need the rebuilder anyway.
I had plans on closing down Household in August but I may want to act sooner pending the news on how they are going to do this.
What's up with HSBC and Chase selling their accounts to Capital One?
I better get rid of my rzmc soon