![]() Consider switching recurring bills to another credit card during the issuer changeover.ĭuring the transition of accounts to a new bank, you will probably be provided with a few key dates: When you will receive your new card, when your old card will cease to work and when you can expect to be able to set up account access online.Take an inventory of the recurring bills charged to your credit card.Once you have compiled your list of recurring bills charged to your credit card, keep this list in a safe place when your new card arrives, you will need to give all of these service providers your new card information. For monthly bills, the best way to do this is to print out your most recent monthly statement and use the itemized listing of charges to identify billers that are charged to your credit card every month. If you have recurring charges, such as subscriptions, cell phone bills or utilities charged to your credit card, you will want to pay special attention to these in order to avoid late fees, returned payment fees, or service shutoffs. The following steps will help you be prepared for your credit card issuer change. In addition to changing over any recurring bill payments, setting up auto payment on the new credit card and activating a new card, you should also consider taking actions like downloading old statements and reviewing updated credit card benefits. ![]() The best way to make a credit card issuer change as painless as possible is to be prepared. Issuer changes can also happen if a credit card issuer sells part of all of its credit card portfolio to another credit card issuer, such as when Bank of America purchased MBNA’s credit card business in 2006. This famously occurred when Costco transitioned its credit card portfolio from American Express to Citibank and Visa in 2016. Occasionally these agreements get renegotiated, sold or transitioned to a new credit card issuer. Many companies, including airlines, hotel chains and retailers have agreements with banks to issue co-branded credit cards.
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