topic Switching companies? in Credit Cards

Switching companies?

Anonymous — Mon, 18 Jan 2010 01:02:18 GMT

What happens when your credit card companies transfers your card to a different company? I know they create a new account. Does it make your history go down? Does it change your credit score?

Re: Switching companies?

DI — Mon, 18 Jan 2010 01:05:35 GMT

The only change you may notice is the company logo. What's the name of the companies?

Re: Switching companies?

Anonymous — Mon, 18 Jan 2010 01:06:57 GMT

Well it was through my group health credit union, then a year and a half after I got it they switched it to elan financial services. It was my oldest credit card.

Re: Switching companies?

DI — Mon, 18 Jan 2010 01:11:50 GMT

The history of the account will remain the same. Sometimes the account numbers are changed and new cards are issued.

Re: Switching companies?

Anonymous — Mon, 18 Jan 2010 01:17:12 GMT

Well, I was asking because it comes up as two seperate accounts. Actually, I had two cards from them, now I have 4 accounts listed instead of 2. USBank also did this with a student loan of mine. Does it matter how many accounts are listed?

Message Edited by ashber on 01-17-2010 05:17 PM

Re: Switching companies?

DI — Mon, 18 Jan 2010 01:21:12 GMT

If it all has the same opening date is doesn't matter. I have two tradelines with BOA. I was issued a new account when they said my account was compromised. I kept the same history of the old account. Just make sure your opening dates remains the same.

Message Edited by DI on 01-17-2010 07:21 PM

Re: Switching companies?

Anonymous — Mon, 18 Jan 2010 01:21:47 GMT

I just checked, they have different dates. It is through a different company now.

Re: Switching companies?

DI — Mon, 18 Jan 2010 01:23:53 GMT

Adding new tradelines for existing accounts with a different opening date does effect the AAoA. It will decrease it.

Re: Switching companies?

Anonymous — Mon, 18 Jan 2010 02:27:52 GMT

I would view this as a total problem and would be complaining until the end of time if I determined that these "new" accounts were decreasing my AAoA. Very bogus!