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flardenise

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My credit score dropped due to bank still same bank new name.was citizen south now Park Sterling

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When a creditor changes ownership and/or a retailer changes from one credit card company to another, it can have an initial negative effect on your recredit, depending entirely on how "they" handle the change.   Example, if you have a store credit card with "a retailer" and they cancel their contract with the current bank and move it to another bank for processing, the initial company will close your account.  (Negative on age of accounts) the New company shows a new credit line (Negative on age of accounts) although, your utilization and overall credit lines remain the same.   You could see a 10-20 point reduction in your credit score.  The same applies if a bank is bought out and it is reported as new accounts as opposed to a new name.    There is little you can do on how they handle the change from one company to the next.  

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