Switching companies?

[Anonymous]

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?

[DI]

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

[Anonymous]

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.

[DI]

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

[Anonymous]

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

[DI]

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

[Anonymous]

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

[DI]

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

[Anonymous]

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!