The Dreaded Words: Your Account Number Will Change

I recently received notice that my Upromise credit card will be switching to a new bank. Personally, I’ve never given a lot of thought as to which bank manages my credit card but I did stumble across this little gem when reading through the Frequently Asked Questions (FAQ) that accompanied the notice:

Will My Account Number Change?

Yes. You will see a new account number on your credit card and monthly billing statements, provided your account is open and in good standing. On March 29, 2009, please be sure to update your account information with any merchant that automatically bills your credit card account, such as a gym membership or utility bill so you don’t miss out on college savings.

I got news for these people. My credit card is tied to way more than a gym membership and a utility bill. Ok, I don’t have a gym membership but that’s beside the point. And now because one company decides that my new credit card, which I didn’t ask for, should have a new account number, I get the privilege of spending the next several months after receiving my new card notifying companies of the account number change.

Online Accounts

And this isn’t just limited to bills I receive that are automatically charged to my credit card. No, I probably have 20-30 online store accounts that store my credit card information for me to expedite the checkout process. Some of these, such as Amazon.com, I used frequently. Others, I might only use once or twice per year. And what do you think the odds are of me remembering six months from now when I purchase something at one of these stores that I have a new account number?

I wonder if the new bank will give me a credit on my first statement for the amount of time it will take me to do all of this? Seems fair to me.