What happens if the company that holds your credit card goes under?

[Lydia Leftcoast]

Does someone else buy the debt and rack up interest rates to collect it?

[BigDogDistrict44]

1. Then you can call and harass them for a change...

[Orrex]

2. Yes! Come-uppance! And long overdue, if you ask me.

Welcome to DU, by the way!

:hi:

[flvegan]

3. I think it depends on what you mean by "goes under".

Especially if you're talking bankruptcy "goes under".

[Demobrat]

4. The account will be sold to some other company.

You'll get a new card with new logo, and that will be it. Google Providian/Washington Mutual.

[Speck Tater]

5. And if no credit card company wants to buy the failed company's assest,

your debt will be sold to a debt collection agency and you will be notified who to pay, but you will not get a new credit card to replace the canceled one.

[Demobrat]

6. If the account is in good standing somebody will buy it.

If not, yes, it will go into collection..