@RealEstateGuy89 wrote:
@SUPERSQUID wrote:
@UncleB wrote:
When BBVA/Compass accounts migrated over to PNC it was just a name change on my credit reports. Same when the HSBC portfolio moved to Capital One years ago... everything stayed the same with the credit reporting, just the bank info on the credit report was updated.
The only time I've had to 'start over' was after a Synchrony upgrade on my CareCredit to the CareCredit Mastercard, but from what I understand even that's changed. (???)
Usually the new bank will send out a letter/email explaining what's going to happen, if for no other reason so their customer service lines aren't tied up. Also in the cases of PNC and Capital One both had websites with a FAQ on the transition which answered this question.
Just my 2¢.
@FireMedic1 wrote:
It would help if you name the banks. It will lets us to see if its worth keeping the card with the CL and AF.
This. ^^^ Otherwise all we can do is speculate.
Also another one which reset the credit line was Fingerhut Fetti. Fingerhut changed to Fingerhut Fetti and restarted your account right then no matter how long your account was in good standing. Suddenly a new account from Fingerhut Fetti showed up on your reports putting a ding on your scores.
Yasss, I remember all to well that slick trick they tried to pull last year! I canceled my Fingerhut account quickly before the new Fingerhut Fetti was set to be issued, thinking I had surely saved myself much trouble.
Well, I STILL ended up with the new account reporting on my all bureaus with a MUCH lower credit line... I think my original account was somewhere around 11 years old with a $4700 credit limit and the new Fetti was 0 months old with a $1500 credit limit. I was completely livid 😮 when I started getting all the new account notifications as Fetti was hitting my credit reports. Fingerhut nor Fetti was interested in the least in helping me. They even suggested that I might as well be stuck with them for awhile because even if I closed the new Fetti account, it would still stay on my reports for quite some time, meaning the score hit and damage was already done.
I ended up making an online complaint to the federal website that handles credit complaints and it took about 2 months but they ended up taking it off of all my credit reports! I considered myself very lucky 🍀 and also felt for my fellow MyFico people that were just reporting fresh hits to their reports by Fetti too.
Do you still have your Fingerhut Fetti account @SUPERSQUID or how did that work out for you?
Not meaning to sidetrack this thread, the same exact thing happened to me with fingerhut. i closed my account but they still reported that new fetti account. to tell you the truth all i remember is calling them to make sure they closed the fetti as well, i never followed up. they lost me as a customer and i had an excellent payment record with them and often bought things
{ BK7 DC 12/2019 } target 2800/ kohls Visa 7000/ discover IT cb 5800 / 2nd discover IT cb 6000/mercury 4100 /legacy 3500 /HUE cc 3500/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4650, Penfed PCR signature visa 10k/ penfed gold 5600 /NFCU signature visa cash rewards 21700/bread cashback amex 8000
>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 55k
Total utilization above 50 pct.
Ficos ,most are slightly above 700, the 9's slightly higher than the 8's
TCL - about 110k
Retired since 2017
But it would be nice to see who the OP is talking about.
