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Question By
mokeygray

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Why is credit score go dowm when credit card changes name?
I have had several credit cards bought by one company and they now have changed the name on the cards. They have also reported to credit report name change and now my credit score has dropped 30 points. They are the same cards just different name...please explain!!!!

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name change in credit card lowers score

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I have same question as above but I disagree with answer above.  I have been monitoring my credit since signing up for Credit Karma and I have increased my score and suddenly I notice that a change in activity indicating that there was a change to my credit card limit and then I see that my GCRB/CARECR card has changed to SYNCB/CARECR but now it appears as if I have 2 accounts? This is what I am seeing when I enter on ? of why my score has dropped.  How do I fix this?  This account is currently paid in full. 

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clever banking strategy

if all the banks have to do is change their name every 2 years to cause a lot of credit scores to be lowered by increasing the number of credit inquiries, they will do it...until somehow we can come up with a way to get the credit score companies to quit allowing the name change inquiries to impact our credit scores.   I just wish I had the answer, as to how to accomplish this.

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Lower score

I had two credit card companies change their names and had them show up as inquiries.  This caused my score to drop 30 or more points.  I have now gone back up.  What is up with this?  It is the same card the same balance and now it shows that I used a brand new card significantly in the first few months. 

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That had nothing to do with your drop in score.  Must be another reason for the score drop.  I've had many, many card name changes over the years and it has never affected my score good or bad.  There is no reason for it to.  To learn how your credit score is calculated, visit www.myfico.com.  Best of luck! 

Reply by
mokeygray

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They enter all six of the credit cards as new accounts and new inqures for credit.

Reply by
bookie9796

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The same happened to me but again, I have not applied for any credit or loans at all.  I have only paid down my accounts to almost zero!   The responses to ma question as well as yours tell me this has happened to a lot of people but no one seems to know hot to fix this.  Some people have insisted that I must have had credit activity but again, I have only been paying down my credit and the only activity was the care credit name change and the appearance that I now have 2 accounts with them!  It's really frustrating :(

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