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SMAC1253

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Changed Credit Card Holder
On my report it says I have 4 new credit cards added. When in actuality these are 4 of my current credit cards but the changed from GECredit to Sync Credit. No new credit cards just a new bank backing the 4 old ones. It caused my score to drop over 24 points. This does not seem fair.

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Even though CK shows them as new accounts, they really aren't affecting your true FICO score.  Purchasing debts is a business all its own, and millions of companies do it all the time.  I have one credit card that has changed names 4 times!  It never, ever, affects your score when this happens (at least not with FICO, and that is the only score that counts).  Don't put too much faith in any score other than your FICO score.  To learn more, visit www.myfico.com.  Best of luck!

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Same with me! Dropped my score!

I too had 2 credit cards, Victoria Secrets & ColdWater Creek Master card payment centers taken over by another company.  I had no idea who was Commety Bank.  I tried to pay my bill (which I had been faithly paying on time) and could not access the accounts anymore which caused my first late payments.  When I made my last payment to both accounts right after the change of payment centers, it showed up on my bank statement as Commety Bank.  Luckily, it also had their phone #.  I called and asked who the heck they were???  I was very upset and they gave me the new email address to pay my bills.  They claimed they sent me out a notice, but with all the junk mail, if they did send a notice, I might have just thrown it out.

Now my score has dropped from mid 700s (Good) that I've worked so hard to raise up after my divorce to a high 600 (Fair). Commety Bank did reimburse my late fee on 1 card, but that doesn't reflect on my credit.  I'm total unhappy that it shows I have 2 new new accounts open which affected my score.  This is VERY unfair.  How can we get this changed?

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