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ryan0416

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credit cards changed financial institutions how long until this issue gets cleared up?
I had 3 credit cards change financial ownership. The cards changed from GECRB to SYNCB this caused a 20 point drop in my credit rating. I am curious to know how long this negative drop will remain on my credit report? I get why it happened now I just want it fixed.

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The only reason your score would drop when an account is transfered from one lender to another is if it was sold to a bad debt buyer or collection agency (i.e. it was a bad account).  If this is a good account, then the transfer did not cause your score to drop.  Lenders buy & sell accounts all the time, and it is not a negative to the consumer.

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