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kondakalla

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my amex card discontinued by the Costco. what happens to my credit score ?

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Your American Express card can be transitioned to a Citi card. This should minimize or eliminate any damage to your credit score. You can learn more about the transition here: http://www.mysanantonio.com/business/national/article/What-to-expect-from-Costco-s-new-deal-with-Visa-6119462.php

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Costco transition

Amex told me they will not "transition" to another account but will be "inviting" costco holders to open a new acct.  This WILL effect your credit score because it will be a new acct and a new credit inquiry!!!!

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costco change

I was also told that costco will have a new membership card and you may then use any visa card at costco.  So you will not have to open a new visa acct but will endup paying the costco membership and your visa yearly cost.

Looks like costco will lose me as a customer.

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There seems to be virtually no way for you to keep your credit history unaffected as far as length of time of accounts opened and everything involves a new credit account and inquiry which reduces your credit history links average and increases your account numbers. There seems to be a lot of miss information and flat out inconsistencies when speaking with American Express and Citigroup regarding this. There seems to be virtually no way for you to keep your credit history unaffected as far as length of time of accounts opened and everything involves a new credit account and inquiry which reduces your credit history links average and increases your account numbers. The people at American Express are encouraging people to apply for new cards and then do balance transfers. The Citigroup people have no way to report the up to 16 years of credit history length because the new account numbers will be newborn and ag The people in American Express are encouraging people to apply for new cards and then do balance transfers. The Citigroup people have no way to report the up to 16 years of credit history length because the new account numbers will be newborn in age.  This deal will negatively impact to the credit history length of average account time open score which rinks medium on impact for your credit score. It seems the best way to minimize damage is to transfer the account balance and close the account so as not to add additional accounts and lower your average time open by having those new account numbers. 

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Costco Amex account closed

Is there anything I can do about the Amex Costco card I have on my credit as closed? I am younger, so I don't have a long history. That account closing dropped me over 20 points. I didn't want it closed. I got a new Amex account but I guess that didn't do squat to ensure that the Costco Amex account didn't close. Ughhh. Is there any way to fight it? I did not choose to do that. Costco chose for me.

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