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I would say just ask the CC issuer. I tried this with my CAP1 cards and was told by the CSR they do not merge accounts. I would say be careful with how this would change your credit report. I am not sure if your previous card would not report anymore. I am sure someone else might be able to shed light on this.
Ive only had the BB cap 1 for about 2 years and its at 0 balance. i'm going to call CITI to see if my BB cap1 Card already Merged to CITI and see if I am allowed to Combine the two credit limits.