Score watch alert...Account transferred or sold

[demi]

Got this as an alert yesterday....Lane Bryant.  Account has been paid off for 3 years.  I am assuming it just means there credit accounts were sold off....not like some collection sold (no collection, paid on time, etc)...hopefully I am just being paranoid ???

[oohhjamila]

I got one of these yesterday from Lane Bryant too, I was just about to post a question about it when I saw yours. My account has been closed since '06 and I thought it meant something terrible "transferred or sold" pfft. Ok well good, now I know it's nothing I did. My score went up 4 points because of it, did yours change at all?

[Anonymous]

Hey Folks,

I'm new to this credit report monitoring but I just got one of these "transferred or sold" alerts and my score dropped from 799 to 795 because of it.  What gives?

I really don't understand why something the bank did made my score go down.  Can someone please explain?

[llecs]

Is this from a ScoreWatch alert? If so, SW doesn't give the full picture. Other things could have happened like a slight change to utilization. For example, I got a SW alert that my score went up 20 points due to a balance increase. The increase didn't cause my score to go up, but rather a baddie fell off causing the increase in score (SW never mentioned that).

[Anonymous]

"Is this from a ScoreWatch alert?" - yes it's from an alert.  I was reading the little bullet lists they showed and I was wondering if that could be possible.

I just can't think of anything else that would have affected the score.  I only have one CC and two HELOC's (the account that was sold/transferred was one of the HELOC's with a bank that is merging with another bank) and none of them have had a change in a while so I didn't figure that was it.  BTW - $0 balance on them all.

It's no biggie I suppose, just trying to learn and aiming for that 850

Thanks for the response.

[llecs]

Before the alert, was there a balance reporting on any of them? Having all $0 balances can drop your score. Sounds weired, I know.

[Anonymous]

I had something similair happen to me last year and didn't know about it until this month when I pulled my cr. I had a old credit card for four years with zero balance that closed and sold due inactivity. It was a gordons jewerly card that I used once and never used it again and was purchased by citibank. They opened a new account in my name and was unaware of this never received a card. They opened a line of credit for 6000. So if I was you call the company and make sure they didn't sell your account to another company to open an account in your name without consent.

[Anonymous]

I paid off my balance and closed my LB account in 2006. This past October, I got a SW alert that my LB account had been sold or transferred. I didn't see a change in my score as a result of this alert though.