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Anonymous
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Sub: #97
Replied on 04-21-2010, 11:30 PM
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Originally Posted by Anonymous View Post
hi all. thanks to all who posted earlier. i received a copy of my credit report this summer and found a new citi bank mastercard on it. i was able to track the phone number based on earlier postings. i was told that my macy's account had been converted without, in my opinion, my formal consent. a new account was opened. it gets better. after my call in june i was told they would not remove the account from my credit report AND the account had been closed due to inactivity for 7 months. a double whammy to my credit which i monitor on a pretty regular basis. not only did they open the account in 2008, by 2009 they decide to close an account i never knew i had! i am extremely pissed and am inquiring as to whether or not anyone has pursued a class action law suit yet. this is clearly still happening to people. it is ridiculous. i have to now spend my precious time writing and trying to dispute this through citibank with no guaranteed result.
Closing account due to inactivity is offset by the issuance of the Prism card. It has no effect on your credit score. The age of the initial card is issued to the new card for credit scoring purposes. You available credit isn't affected, nor is your number of trade lines - as one is closed, another is opened. And since it's actions taken by the lender, the action doesn't hurt your credit either. Actually, if anything, the issuance of the new card bought you time - they would have closed your initial account due to inactivity prior to the issuance of the Prism card, and that would have dropped you number of trades, and your available balances considerably earlier. The Prism card actually improved your bureau score for a while...

Word to the wise - this is all legal, it doesn't affect your scores, and if you don't want it to happen, read what your banks send to you...

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