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Changing credit cards within same bank

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  • Jun 6th, 2016 10:43 am
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[OP]
Deal Addict
Oct 22, 2015
1380 posts
432 upvotes

Changing credit cards within same bank

One of my credit cards is a card I have had for over 20 years.i would like to get another credit card from the same bank (for example exchange it from one card to another card, but both owned by the same bank), so the credit card number will be changed.

Would the new card start from scratch in terms of history on my credit report or will it still show on my credit report that I have a credit card with the same bank for over 20 years?
20 replies
Deal Addict
User avatar
Dec 17, 2008
2700 posts
2077 upvotes
Winnipeg
Depends on the bank.

MBNA it would start a new history.

CIBC/RBC... It would keep old history
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Newbie
May 8, 2016
56 posts
10 upvotes
I checked TransUnion free credit report a few days ago after switching one rewards card to another rewards card with same bank. According to the report, it still keeps the old info of the first card, along with the new info of second card.
Member
Aug 20, 2014
223 posts
89 upvotes
Toronto, ON
BMO, AmEx also keeps history from my experience on multiple occasions. :)
Shawguy wrote: Depends on the bank.

MBNA it would start a new history.

CIBC/RBC... It would keep old history
Banned
May 30, 2016
116 posts
16 upvotes
Rickynl wrote: I checked TransUnion free credit report a few days ago after switching one rewards card to another rewards card with same bank. According to the report, it still keeps the old info of the first card, along with the new info of second card.
sqara82 wrote: BMO, AmEx also keeps history from my experience on multiple occasions. :)
Does the old card show up as closed down at customer request ?
[OP]
Deal Addict
Oct 22, 2015
1380 posts
432 upvotes
ashwanidesi wrote: Does the old card show up as closed down at customer request ?
If it shows as closed then it wouldn't be good.i would like to know too. I guess this is not something you can ask the bank.
Sr. Member
Sep 24, 2013
967 posts
680 upvotes
Ontario
I just changed my card at TD 2 months ago and they kept the same history but only changed the card number . Would never know that it was changed looking at credit reports.
Member
Aug 20, 2014
223 posts
89 upvotes
Toronto, ON
This question is redundant. Keeping card history implies that nothing was closed. If the old card is closed and a new card appears on your credit report, that would mean the card history was not kept. :)
wra45mon wrote: If it shows as closed then it wouldn't be good.i would like to know too. I guess this is not something you can ask the bank.
ashwanidesi wrote: Does the old card show up as closed down at customer request ?
[OP]
Deal Addict
Oct 22, 2015
1380 posts
432 upvotes
Shawguy wrote: Depends on the bank.

MBNA it would start a new history.

CIBC/RBC... It would keep old history
Is it true for both trans union and Equifax for RBC?
I would hate to switch and lose 20+ years.
Deal Addict
User avatar
Oct 4, 2004
4191 posts
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Vancouver
sqara82 wrote: This question is redundant. Keeping card history implies that nothing was closed. If the old card is closed and a new card appears on your credit report, that would mean the card history was not kept. :)
What appears on your credit report are credit tradelines. "Switching out" a credit card does not change the line unless a bank says you need to actually close a card and re-apply for a new one in which case the line will be closed and a new one is opened (probably with a credit check as well). History is kept in both scenarios though. If a line is closed, it will still appear on your report as positive history. If you just switch a product, the line will still appear with the history intact, just under a different account number now.
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Sr. Member
Mar 15, 2011
533 posts
171 upvotes
Toronto
buddshek wrote: I just changed my card at TD 2 months ago and they kept the same history but only changed the card number . Would never know that it was changed looking at credit reports.
I just did with TD as well. Switched from an Infinite to a platinum, which they did not like. Appears as a new number, so not sure about history yet.
Member
Jun 28, 2011
400 posts
106 upvotes
VANCOUVER
I've switched my RBC VISA over the years from one type of card to another several times and according to my latest Equifax credit file information, this account was opened in 1998. It references my current RBC VISA and the previous one and the status of my account. (R1)

It doesn't make reference to each VISA card number I've had over the years on my file information but the fact that the 1998 date is mentioned tells me the accounts were never closed; just numbers changed.
[OP]
Deal Addict
Oct 22, 2015
1380 posts
432 upvotes
travelandshoppingwoman77 wrote: I've switched my RBC VISA over the years from one type of card to another several times and according to my latest Equifax credit file information, this account was opened in 1998. It references my current RBC VISA and the previous one and the status of my account. (R1)

It doesn't make reference to each VISA card number I've had over the years on my file information but the fact that the 1998 date is mentioned tells me the accounts were never closed; just numbers changed.
Thanks for confirming. Does anyone know if that is the case for teams union?
Deal Addict
May 28, 2007
1210 posts
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I have a RBC VISA platinum card that I've switched from and to a couple of times over the pass 30 years and I still have the same opening date history. But now I rarely use the card because of better cards I have, like the new Tangerine card and the TD Aeroplan Infinite card. However, I don't want to close this card because it is one of my oldest cards. What I would like to do is switch it for an RBC Cash Back card. But I don't want the VISA cash back card because it only returns 1%. I would prefer the MasterCard cash back card that gives 2% on groceries. How would this switch work, if possible? Would it require a new application or credit check since I'm switching from VISA to MasterCard, even though it's still with RBC?
Member
Jun 28, 2011
400 posts
106 upvotes
VANCOUVER
RCML27 wrote: I have a RBC VISA platinum card that I've switched from and to a couple of times over the pass 30 years and I still have the same opening date history. But now I rarely use the card because of better cards I have, like the new Tangerine card and the TD Aeroplan Infinite card. However, I don't want to close this card because it is one of my oldest cards. What I would like to do is switch it for an RBC Cash Back card. But I don't want the VISA cash back card because it only returns 1%. I would prefer the MasterCard cash back card that gives 2% on groceries. How would this switch work, if possible? Would it require a new application or credit check since I'm switching from VISA to MasterCard, even though it's still with RBC?
Since the RBC MC is with RBC, there's no need for a new application. I asked the bank about this because I always thought MC was exclusive to BMO. They told me MC is a brand but not exclusive to just BMO.
So you can ask RBC to switch it over to the MC and they're the ones issuing the card. I have this card and I love the 2% cashback on groceries but there is a limit on the amount you can spend. I believe it's $6000 per year which is fine for me because I'm on my own and I don't nearly that much in groceries.
The Tangerine MC is better for groceries as there is no limit. Of course you can use both cards for groceries depending on how much you spend.
Member
User avatar
Apr 7, 2013
245 posts
90 upvotes
Deux-Montagnes, QC
With Desjardins I started with VISA for Student then switched to VISA OR Odyssée, and now switched to VISA Reward, still show same account in equifax for 12 year.
Member
Jun 15, 2009
239 posts
74 upvotes
Victoria
I have switched my BMO mastercard a couple times now, more recently a year ago when I went from a free BMO airmiles account to the BMO World Elite. Not only did I get no hard hit on my credit, I also got to transfer my credit limit over to the new card (over $25k). I checked transunion and equifax and there was no difference in the tradeline, it still shows as being open since 1998. The CSR advised me of this on the phone when I made the switch as I was also concerned about this as its my second oldest card.
Deal Addict
Nov 25, 2014
1739 posts
952 upvotes
Newton Brook, ON
RCML27 wrote: I have a RBC VISA platinum card that I've switched from and to a couple of times over the pass 30 years and I still have the same opening date history. But now I rarely use the card because of better cards I have, like the new Tangerine card and the TD Aeroplan Infinite card. However, I don't want to close this card because it is one of my oldest cards. What I would like to do is switch it for an RBC Cash Back card. But I don't want the VISA cash back card because it only returns 1%. I would prefer the MasterCard cash back card that gives 2% on groceries. How would this switch work, if possible? Would it require a new application or credit check since I'm switching from VISA to MasterCard, even though it's still with RBC?
It won't matter. The name of the account will change from "Royal Bank VISA" to "Royal Bank MC" in the report but will still be the same credit line with the same open date.
Member
Nov 26, 2015
360 posts
184 upvotes
honsolo wrote: I have switched my BMO mastercard a couple times now, more recently a year ago when I went from a free BMO airmiles account to the BMO World Elite. Not only did I get no hard hit on my credit, I also got to transfer my credit limit over to the new card (over $25k). I checked transunion and equifax and there was no difference in the tradeline, it still shows as being open since 1998. The CSR advised me of this on the phone when I made the switch as I was also concerned about this as its my second oldest card.
I wonder if you keep your air miles / cashback when you upgrade your card? I just upgraded my card to Cashback to World Elite and I forgot to ask if my cashback would be transferred.
Sr. Member
User avatar
Apr 28, 2012
957 posts
337 upvotes
QC
darthcloud wrote: With Desjardins I started with VISA for Student then switched to VISA OR Odyssée, and now switched to VISA Reward, still show same account in equifax for 12 year.
Switching cards within same bank is a good technique for maintaining higher average account age when churning credit cards. For example: churn TD Aeroplan visa FYF then switch to fee-free TD card before the next annual fee kicks in, wait a few months then upgrade to TD Aeroplan for another welcome bonus

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