Citibank bought my B of A acct.

Discussion in 'Credit Talk' started by jmart, Jul 9, 2001.

  1. jmart

    jmart Well-Known Member

    Hi All,

    A little background....My story is much like the typical 'Got myself in over my head in debt in College' story..

    Anyway, I had a Bank of America credit account with a 500c/l. The account went past due when I couldn't pay, and eventually got up to about an 800 balance. (300 over the line. They closed my account, but reaged it for me). After graduating, I payed the balance down to about 475... I got a letter about 8 months ago saying that Citibank was purchasing my credit account from B of A... The next month, I got my Citibank statement. It showed the same 500 limit (0 available), and same 18% interest rate. I payed about $50/month for the first 3 months, and got a letter from Citibank saying they were lowering my APR to 11.9% due to my positive payment performance with them!!! After 8 months, I am paid down to about $200. I plan on paying the remainder of the balance in full this month, and would like to see if I can get my credit privledges restored on this card. Any suggestions on the best way to do this? If I request this, will they do a hard inquiry? Do they have access to my past performance with B of A, or will they use my performance on this account to judge? I'd like to use this account to maintain a good history because it's the lowest APR card I currently have.

    Thanks for your help!
  2. jmart

    jmart Well-Known Member

    Sorry my original post is a little long...but if anyone has any advice, it'd be greatly appreciated!

  3. mj

    mj Well-Known Member

    Why did Citi buy your account - was it charged off?

    Sounds like you've made great progress. I'd pay it off then call customer service. They reopened an account for me once upon a time in the 80s.

    They should have all past information - and are allowed to pull a hard inquiry for any old reason (it's in your original cardholder agreement). They also do soft inquirires at least 2x/year, so they "know if you've been sleeping ... they know when you're awake ... they know if you've been bad or good... "

    Best of luck to you --

    PS: may not be a bad idea to look at your score & report before you ask them to reopen - try out CreditExpert or ScorePower.

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