Every year, thousands of people change their names—mostly for amusement, but also occasionally as a result of marriage or divorce. In fact, in the UK, one man who had $50 and a completed deed poll application was able to obtain the nickname Bacon Double Cheeseburger.
Although Mr. Cheeseburger might be happy with his colorful moniker, but changing names can cause problems for both him and other people. Furthermore, even though changing your name for a marriage, divorce, or even just for fun won’t “lose” your credit history, it can occasionally cause confusion about your identity if your information isn’t being reported accurately.
Generally, once you inform credit card issuers, other businesses, and your mortgage lender of the change, your new name gets added to your credit reports. Your new name replaces the old one, which is then recorded on your credit history alongside previous addresses and employers, after they notify the three major credit bureaus of the change, whether it be a first or surname change.
No, changing your name will not clear your credit history. Your Social Security number is linked to your credit history and doesn’t change even if you change your name. This implies that all of your previous credit history—both good and bad—will continue to appear on your credit report under your new name.
Here’s a breakdown of what happens when you change your name:
- Your credit report will be updated with your new name. This may take a few months, as creditors need to be notified of the change.
- Your old name will remain on your credit report. This is simply for historical purposes and will not affect your credit score.
- Your credit score will not be affected by the name change. Your credit score is based on your credit history, not your name.
Here are some things to keep in mind after changing your name:
- Notify your creditors of your name change. This will ensure that your credit report is updated with your new name and that you continue to receive credit card statements and other important information.
- Check your credit report regularly. This will help you ensure that your credit report is accurate and that there are no errors. You can get a free copy of your credit report from each of the three major credit bureaus (Experian, TransUnion, and Equifax) once a year at AnnualCreditReport.com.
- Be aware of potential scams. Some scammers may try to take advantage of people who have recently changed their names. Be careful about who you give your personal information to, and don’t hesitate to report any suspicious activity to the authorities.
Here are some additional resources that you may find helpful:
- Experian: Will Changing My Last Name Affect My Credit?
- Credit.com: Will I Lose My Credit History If I Change My Name?
- Federal Trade Commission: Identity Theft
Frequently Asked Questions
Q: Will changing my name affect my credit score?
A: No, changing your name will not affect your credit score. Your credit score is based on your credit history, not your name.
Q: Do I need to report my name change to the credit bureaus?
A: No, you are not required to notify the credit bureaus of your name change. To ensure that your credit report is updated, it is a good idea to let your creditors know if your name changes.
Q: What should I do if I find an error on my credit report after changing my name?
A: If you find an error on your credit report after changing your name, you should contact the credit bureau that issued the report and dispute the error. You can find instructions on how to dispute an error on your credit report on the credit bureau’s website.
Q: I’m getting married and changing my name. What do I need to do to protect my credit?.
A: It’s crucial to take precautions to safeguard your credit if you’re getting married and changing your name. Here are a few things you can do:
- Notify your creditors of your name change.
- Check your credit report regularly.
- Be aware of potential scams.
- Consider freezing your credit. This will prevent anyone from opening new accounts in your name.
Q: I’m getting divorced and changing my name. What do I need to do to protect my credit?.
A: If you’re getting divorced and changing your name, it’s important to take steps to protect your credit. Here are a few things you can do:
- Notify your creditors of your name change.
- Check your credit report regularly.
- Be aware of potential scams.
- Consider freezing your credit. This will prevent your ex-spouse from opening new accounts in your name.
Changing your name is a big decision, and it’s important to be aware of the potential impact on your credit. By following the tips above, you can ensure that your credit history is protected and that your credit score remains in good standing.
How to Smooth Your Name Change Process
Keep in mind that changing your name isn’t an automatic process. It requires lots of paperwork and contacting the necessary businesses to ensure a successful shift. Personal participation is key.
Contacting governmental organizations and credit issuers that supply personal information and account details to credit bureaus is the best method to guarantee that your name change appears on your credit report. These include:
- The Social Security Administration: Since your new card can be used to confirm your identity going forward, applying for a new Social Security card is a good place to start when changing your name. Your name will be updated, but your Social Security number (SSN) will remain the same.
- The Department of Motor Vehicles (DMV): Depending on your state’s regulations, you might need to present an original or certified decree before having your name changed as a result of marriage or divorce. Visit the DMV to update your license.
- Bank
- Your Employer: Your employer needs your new name in order to pay Social Security, unemployment, and other taxes on your behalf, in addition to updating their own records.
- Medical Providers: Unless you fail to pay, medical bills rarely show up on your credit report. However, it’s a good idea to let your doctors and dentists know your new name.
- Insurance Companies: Having insurance protects your house, vehicle, business, and other valuables. Make sure your providers have current information.
Once you’re done, it’s a good idea to get in touch with Equifax, TransUnion, and Experian, the three credit reporting agencies, to let them know about your name change and make sure it appears correctly.
Although changing your name shouldn’t destroy or adversely affect your credit history, credit reporting isn’t a perfect system, so it’s a good idea to review your reports and scores in the months that follow. Visit AnnualCreditReport. com to order free copies of your TransUnion, Experian and Equifax reports. You can also view two of your credit scores for free, updated every 14 days, on Credit. com.
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