Finance House

I only have one credit card and have been trying to build a history with Capital One. So far it has been three years.

I received a letter last month saying that
my K-mart/Cap One card was being discontinued.

In place of this card they said they would issue a Capital One Platinum card.

With the old card being cancelled and the new card now being a month old, does that mean my current credit history is now only one month old?

Thanks!

Jayne Ella

Did they change your account number or keep the same account number?

If you keep the same account number all your history on that account remains the same. Same opening date. Same everything. You loose nothing.

If they change your account number you will still have your old K-Mart card report to the credit bureau. You will not loose any account history. You would also have a new account reporting to the credit bureau.

If you take a look at your statement the past few months, the only change is that there is only one credit limit and not the split credit limit (k-mart/total limits).

The number of the new account should be the same, they're just trying to stop promoting a company which they are no longer doing business with every time their customer does business using their card. ;-)