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Costco Citi Visa


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Former Amex Costco cardholders with a D* Amex, please share when you have data:

 

1. Does your Citi card report the D* or actual opening date?

 

2. Is your Amex account still reporting or was it removed from your reports?

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Former Amex Costco cardholders with a D* Amex, please share when you have data:

1. Does your Citi card report the D* or actual opening date?

2. Is your Amex account still reporting or was it removed from your reports?

I'm pretty eager to find out the answer to these questions, as well.

So far, CreditKarma is still listing an open AmEx and no new Citi card.

AmEx has deleted all signs of my ever having had a Costco card with them.

Citi says my statement date was 6/13. I made a small charge a few days ago and have paid that off. I hope it reports by 7/13.

 

What do we know about Citi's reporting of new cards? The last new Citi card I got was in 1999, so I have no info there. But I do have a nice old account. :)

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Former Amex Costco cardholders with a D* Amex, please share when you have data:

 

1. Does your Citi card report the D* or actual opening date?

 

2. Is your Amex account still reporting or was it removed from your reports?

I got an email from Citi today and it says member since 2007.

1. Does your Citi card report the D* or actual opening date? ​Not yet reporting but since email from Citi says member since 2007 when my Costco Amex was opened and not 1982 which is how the amex reported my money is on it reporting actually opening date of the Costco Amex and not D*

2. Is your Amex account still reporting or was it removed from your reports?​ Mine is gone from the amex site but on my Experian it reports "closed and transferred to new lender" The other two report still show the Amex Costco card open.

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Nothing reported .. yet. I expect to see AmEx closure reported before Citi reporting.

 

My AmEx Costco statement cut on the 16th. Citi Costco states next statement July 16th.

 

AmEx reporting the balance $24.99 from my last C$ debit, Citi posted the same $24.99 online.

 

Side note. I have access to my EQ Fico via my Citi DC but not via my Citi Costco.

 

I heard rumors that AmEx will report transferred/sold.. instead of just closed/paid, is that correct? Usually good news?

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Nothing reported .. yet. I expect to see AmEx closure reported before Citi reporting.

 

My AmEx Costco statement cut on the 16th. Citi Costco states next statement July 16th.

 

AmEx reporting the balance $24.99 from my last C$ debit, Citi posted the same $24.99 online.

 

Side note. I have access to my EQ Fico via my Citi DC but not via my Citi Costco.

 

I heard rumors that AmEx will report transferred/sold.. instead of just closed/paid, is that correct? Usually good news?

 

I would expect the account to simply change the name from Amex to Citi with no significant other changes. I don't expect a new account will appear and the old one will show as closed.

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  • 3 weeks later...

As of today's CK update, TU is showing no addition for Citi, and the Amex is now reporting as "Closed. Purchased by another lender."

 

EQ isn't showing any updates from prior months.

 

Average age of accounts went down, reflecting the closed account.

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As of today's CK update, TU is showing no addition for Citi, and the Amex is now reporting as "Closed. Purchased by another lender."

 

EQ isn't showing any updates from prior months.

 

Average age of accounts went down, reflecting the closed account.

AAOA includes closed accounts.

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Nothing reported .. yet. I expect to see AmEx closure reported before Citi reporting.

 

My AmEx Costco statement cut on the 16th. Citi Costco states next statement July 16th.

 

AmEx reporting the balance $24.99 from my last C$ debit, Citi posted the same $24.99 online.

 

Side note. I have access to my EQ Fico via my Citi DC but not via my Citi Costco.

 

I heard rumors that AmEx will report transferred/sold.. instead of just closed/paid, is that correct? Usually good news?

 

I would expect the account to simply change the name from Amex to Citi with no significant other changes. I don't expect a new account will appear and the old one will show as closed.

That's definitely not how its going to happen.
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Nothing reported .. yet. I expect to see AmEx closure reported before Citi reporting.

 

My AmEx Costco statement cut on the 16th. Citi Costco states next statement July 16th.

 

AmEx reporting the balance $24.99 from my last C$ debit, Citi posted the same $24.99 online.

 

Side note. I have access to my EQ Fico via my Citi DC but not via my Citi Costco.

 

I heard rumors that AmEx will report transferred/sold.. instead of just closed/paid, is that correct? Usually good news?

I would expect the account to simply change the name from Amex to Citi with no significant other changes. I don't expect a new account will appear and the old one will show as closed.

That's definitely not how its going to happen.

 

 

Apparently not. I've seen accounts shown as closed at the same time as a new account opens then, weeks later, the closed account disappears. OTOH, that was within the same bank. However, I recall the shift from Orchard to Cap One had similar issues and IIRC, the sequence was the same. OTOH, if perchance it doesn't work that way here it might be a good thing depending on how old the Amex Costco account was. And if the new Citi account reporting retains the same age.

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I would expect the account to simply change the name from Amex to Citi with no significant other changes. I don't expect a new account will appear and the old one will show as closed.

That's definitely not how its going to happen.

 

 

Apparently not. I've seen accounts shown as closed at the same time as a new account opens then, weeks later, the closed account disappears. OTOH, that was within the same bank. However, I recall the shift from Orchard to Cap One had similar issues and IIRC, the sequence was the same. OTOH, if perchance it doesn't work that way here it might be a good thing depending on how old the Amex Costco account was. And if the new Citi account reporting retains the same age.

 

 

There's obviously an enormous difference between account changes within the same bank, and a portfolio being sold to a different institution.

 

Your description of simply a name change would mean that Citi is reporting old AMEX info, yet Citi as the furnisher of information would be accepting full legal responsibility for any irregularities/errors in old AMEX info.

 

There's two moving parts that people are concerned about with the AMEX-Citi sale. 1. Will the old AMEX account remain on your reports (which I believe it will as Closed-Sold/Transferred). 2. Will the Citi account report with your D* opening date, your actual Costco TE opening date, or an opening date based upon when Citi acquired the portfolio.

 

Ill escalate it up to the Citi EO to get a D* Citi Costco card if I have to. I'm not saying I'll be successful, but I'll make the attempt if necessary.

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I would expect the account to simply change the name from Amex to Citi with no significant other changes. I don't expect a new account will appear and the old one will show as closed.

That's definitely not how its going to happen.

 

 

Apparently not. I've seen accounts shown as closed at the same time as a new account opens then, weeks later, the closed account disappears. OTOH, that was within the same bank. However, I recall the shift from Orchard to Cap One had similar issues and IIRC, the sequence was the same. OTOH, if perchance it doesn't work that way here it might be a good thing depending on how old the Amex Costco account was. And if the new Citi account reporting retains the same age.

 

 

There's obviously an enormous difference between account changes within the same bank, and a portfolio being sold to a different institution.

 

Your description of simply a name change would mean that Citi is reporting old AMEX info, yet Citi as the furnisher of information would be accepting full legal responsibility for any irregularities/errors in old AMEX info.

 

There's two moving parts that people are concerned about with the AMEX-Citi sale. 1. Will the old AMEX account remain on your reports (which I believe it will as Closed-Sold/Transferred). 2. Will the Citi account report with your D* opening date, your actual Costco TE opening date, or an opening date based upon when Citi acquired the portfolio.

 

Ill escalate it up to the Citi EO to get a D* Citi Costco card if I have to. I'm not saying I'll be successful, but I'll make the attempt if necessary.

 

 

When HSBC sold most of their portfolio to Capital One the accounts were opened in the name of Capital One with the HSBC history and the HSBC accounts were deleted. Is there any reason the Amex->City transfer would be any different? It could be that Amex and Citi would not want the reports to disappear until Citi started reporting. As separate companies they would have separate accounts with the CRAs and wouldn't be able to just flag the accounts under a new issuer. More likely than not Amex is just marking them as sold and will remove them after Citi reports them.

 

EtoA:

Citi does. As the purchaser of the portfolio they are, by default, legally responsible for anything wrong in the Amex reports. This is handled by reps and warranties in the Citi/Amex purchase contract. You can probably find details in Amex's filings.

Edited by cashnocredit
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As of today's CK update, TU is showing no addition for Citi, and the Amex is now reporting as "Closed. Purchased by another lender."

 

EQ isn't showing any updates from prior months.

 

Average age of accounts went down, reflecting the closed account.

AAOA includes closed accounts.

 

 

I'm aware of this, which is why I mentioned that it was a CK update, not FICO.

 

I'll not have any concern until after the Citi card starts showing and things get properly adjusted. I think that CK showed that for me because of the removal of a *D card (hence a 30+ year tradeline), and it is CK after all.

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As of today's CK update, TU is showing no addition for Citi, and the Amex is now reporting as "Closed. Purchased by another lender."

 

EQ isn't showing any updates from prior months.

 

Average age of accounts went down, reflecting the closed account.

AAOA includes closed accounts.

 

 

I'm aware of this, which is why I mentioned that it was a CK update, not FICO.

 

I'll not have any concern until after the Citi card starts showing and things get properly adjusted. I think that CK showed that for me because of the removal of a *D card (hence a 30+ year tradeline), and it is CK after all.

 

 

I am pointing this out to anyone who reads this.

 

To put a finer point on it, AAoOA (average age of OPEN accounts) is the useless metric used by CK, and the one you were citing.

 

FICO uses AAOA (average age of accounts, which includes both open and closed accounts) when it calculates a score.

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  • 2 weeks later...

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