Sprint - Home Credit US Closure

[Anonymous]

Just used my app to connect. Took about 10 min but got it done. The email stated the 13th but rep said the 17th over phone so not sure but either way I told her me closing was lesser of the 2 evils lol I sure hate it cause I just got that card like 3 months ago and was still under my 0% interest. But thanks again for the heads up. Just makes room for a better card to come along

[M_Smart007]

@Anonymous,

Welcome To myFICO Forums!

Sorry for the loss of your fairly new sprint card

[Anonymous]

Also, forgot to mention... it seems they increased the required minimum payment %. On my a/c it went from 3% to 5%. Just a heads up for anyone who's carried a balance on their card.

[Anonymous]

I just paid my closed card off last month. I received an email today they are transferring to Genesis FS. I don't know if its a dumb question. But what's the point of transferring if the card company closed down? 

[Anonymous]

I got same email. I was wondering same thing. It says its all under the bank of Missouri still but changing hands none the less. I thought about calling seeing if that means they are going to reopen accounts or if someone else is just collecting the money now

[drboxing]

Was wondering the same, since Sprint card has been transferred will they reopen accounts

[Anonymous]

Weird I haven't received that email. All I can imagine is the new company has either purchased the portfolio to collect the money + interest or they're looking to transfer the accounts into brand new card accounts. I suspect the former for now since, at this point in time, banks are not really lending out money.

[Anonymous]

I'm thinking Genesis FS is going to collect money. They are a subprime lender that sucks. I have two of their cards and they do not do CIs. 

[macinjosh]

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@Anonymous wrote:

Weird I haven't received that email. All I can imagine is the new company has either purchased the portfolio to collect the money + interest or they're looking to transfer the accounts into brand new card accounts. I suspect the former for now since, at this point in time, banks are not really lending out money.

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@Anonymous, you are probably right. I didn't receive an email either. However, if they are selling the portfolio and opening everyone's accounts back up, then that would be strange and interesting.

@Anonymous, do you know who Genesis FS pulls when doing Inq's? Checking for Soft Pulls from Genesis might lead to some new information.

[Anonymous]

Ya know, I just had a thought. I know that some of us had Home Credit cards and others it was through Sprint. I'm wondering if only the Sprint card folks got the email? Mine was directly through Home Credit and I never got the email. Perhaps it's just the Sprint related accounts that are being transferred/purchased?