/ Register

HHB merger & FICO

Discussion in 'Credit Talk' started by jonesing, Apr 26, 2001.

  1. Apr 26, 2001 #1
    jonesing

    jonesing Well-Known Member

    in the Fleet bank thread
    http://consumers.creditnet.com/phorum/read.php?f=1&i=55197&t=55197
    vj mentioned something about how the merger of two credit card banks can screw up your FICO score. Something about the old account showing transfer but left hanging with a balance that never goes to zero. That got me to thinking about my new HHB Visa which replaced my old Visa from UCNB when HHB bought out "Bankcard Services"

    Sure enough, here's what my TU report looks like

    HHB
    UPDATED 02/2001 BALANCE $699
    OPENED 12/1998 MOST OWED $658
    PAY TERMS MIN $40
    CREDIT LIMIT $900
    STATUS AS OF 02/2001 PAID OR PAYING AS AGREED
    IN PRIOR 26 MONTHS FROM LAST UPDATE NEVER LATE

    then right below the HHB tradeline is this entry which shows the *exact* same account number (full number too!)

    UNITED CR NB
    TRANSFER
    UPDATED 12/2001 BALANCE $544
    OPENED 12/1998 MOST OWED $658
    PAY TERMS MIN $36
    CREDIT LIMIT $900
    STATUS AS OF 12/2000 PAID OR PAYING AS AGREED
    IN PRIOR 38 MONTHS FROM LAST UPDATE NEVER LATE

    At first I would have thought it's best to have this "extra" tradeline on my profile because it's a big positive. But in light of vj's comments I'm beginning to wonder....
     
  3. Apr 26, 2001 #2
    Concerned

    Concerned Well-Known Member

    Same thing happened with me dude. Had the UCNB card transfer too. Just call TU and tell them as a transfer the balance should be zero. They did it for me right over the phone. The other two bureaus got it right for me.
     
  4. Apr 26, 2001 #3
    Concerned

    Concerned Well-Known Member

    Also, as a side note, I called HB yesterday and requested a credit line increase and got it over the phone. Only a measly 100 bucks but they will likely give you an increase as my limit and balance match yours almost exactly. Good luck.
     
  5. Apr 26, 2001 #4
    jonesing

    jonesing Well-Known Member

    Great! I may look into that though I'm not sure as I got a fairly good offer for another card and may close HHB.
     
  6. Apr 26, 2001 #5
    VJ

    VJ Well-Known Member

    Get it Corrected

    Jonesing, debt ratio of the first account,75-80% and its adding $40.00 /mo.to your monthly debt service that really isn' true because its already included in the up-dated acct.Get it corrected and be done with it
    and thanks for the vindication.

    With less possible debt available you will score higher in most of the internal scoring models and will probably get more invitations/approvals in the mail,too.

    VJ
     

Share This Page