Cardholders should maintain a backup payment method, such as a second credit card or debit card tied to a checking account, to mitigate risks during a credit card issuer transition.

When a credit card is purchased or acquired by another company, that financial institution becomes the new credit card issuer, and this transition should be relatively seamless with a new card and number sent to the cardholder.

Other significant changes to a credit card account, such as minimum payment requirements or fees, require 45 days' notice before they can be implemented by the new issuer.

Less significant changes to a credit card account, such as the rate at which rewards are earned, can be made at the discretion of the new issuer without providing advance notice to the cardholder.

American Express and Discover cards are typically less widely accepted than Visa and Mastercard, which is an important consideration when switching to a new issuer that may operate under a different card network.

Cardholders should download and save their existing credit card statements before an issuer transition, because they may lose access to that information once the new issuer takes over.

Cardholders should review and document their accumulated rewards (cash back, points, miles) before an issuer transition to ensure accuracy and to consider redeeming cash back rewards ahead of the transition to avoid potential loss.

Cardholders must update all accounts, apps, and digital wallets with the new card information to avoid missing payments, incurring late fees, or damaging their credit score.

Cardholders should carefully review the terms and conditions of their new credit card account, as some benefits may be specific to the previous issuer and could be lost in the transition, while other benefits specific to the new issuer may be available.

New credit card issuers cannot raise the interest rate on an existing balance, but they can potentially raise the interest rate on new purchases if they provide 45 days' notice to the cardholder.