Will credit history be affected by changing cards from same bank?

Question

Hello,
I have a visa card from a bank with no benefit since 2000. I have always paid my bills on time and have maintained a good history.

One of my friend suggested that I should get a card with 5% cash rewards from the same bank.

1. Would it affect my history if I get this new card and close the old one?

2. Would switching the old card with the new card from the same bank maintain my hard earned history? My current card says I am a member since 2000. If I switched my card, would this new card say the same or would it say that I am a new member?


Please advise.

Answer 1

I've had a card with Citibank and have been upgraded twice since it opened in 1997. It reads on my credit report as one account. Balances and history just carried over from one card to the next.



Call your bank and see if you can upgrade...or take advantage of offers in the mail (as I did). Good luck!

Answer 2

First i desire you to purpose this: Ask the previous credit card to waive the value. you have been a member for some years - it quite is time they improve you. in case you like to alter that card - make certainly advantageous that the account selection will stay the comparable. If it transformations, your previous account selection will instruct closed on your credit checklist. Do you have yet another credit card that possibly has been opened for decrease than 4 years? if so, you've not something to be troubled approximately, because of the fact the "length of credit history" isn't decrease by using that lots. /

Answer 3

If you get a new card with the bank, it will be reported as a separate account. Talk to the bank about upgrading you existing account a cash rewards type. Most banks will do this if your account is in good standing.

Answer 4

even if it is the same bank they have a duty for fraud purpose to do a credit search so it will show as a search on your credit file - some companys take the amount of searches into consideration when they are searching i.e lots of searches could either mean lots of credit or no luck at getting credit.

if it is only 1 search this wont effect too much your credit and seriously cant see it doing any harm at all

Answer 5

Yes it will, becuase the credit score reflects on your account number, if you change your account number to a new card you have to start all over agian but the credit company will not erase your old info...it will just show it was closed.

Answer 6

Talk to an account advisor at your bank.