What Happens Now that Charter One Credit Cards are Becoming Citizens Bank?

credit card

Everything you think you know about Charter One credit cards is about to change. Okay, so it’s not really about to change, but the name of the bank is about to change and that is going to leave a lot of current and potential cardholders feeling a bit confused and not entirely certain. The deal is this: Charter One is going to become Citizens Bank in April. However, that does not mean everything is going to change. What you can expect if you already have a card with this bank or you just applied for and were approved for one is a bunch of mail stating that the name has changed but everything else is the same. You’ll get some new privacy notices, you’ll get some new information and you’ll get a lot of other stuff for a while that will keep you updated on what’s going on and how it does or does not affect you in the least. The bank wants to ensure that you are getting the most for your money and that you are as unaffected as humanly possible during their merge, and that’s a good thing. Here’s what you can expect with your Charter One credit card once it becomes Citizens Bank.

A New Card

You might expect that your card will change right away, but it probably will not. It might be several months before the banks issues you a new card, but nothing else about your card will change with the arrival of a new one.

Interest Rates

You will not see your interest rates change with the name of the bank. If you already have an account, you pretty much get what you already have and that’s about it. You won’t see your rates rise or fall because the name change, and that’s good.

Payment Options

For the most part, this should not change either. You will still keep the same payment date and you will still keep the same payment options you always had, and that’s what makes this a nice little change. It affects them far more than it affects you.

Photo Illustration by Justin Sullivan/Getty Images


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