Switching credit card from milage award to cash award, impact on credit score

[Anonymous]

I have a long term credit card with a high limit and no current balance. It is a Citibank card that gives miles on AA for each purchase and charges an annual fee. I would like to close the account and switch to a cash back award card with the same issuer. Will this effect my credit rating? This is the only card I use. I have one other as a backup. My current rating is 800+.

[Anonymous]

If you're blessed enough to have a FICO over 800, can I have some of your DNA?

Seriously, I wouldn't change a thing. Don't cancel the card, especially if you've had it for awhile. Keep just enough of a balance on it that they send you a bill each month (put it on autopay so you don't risk a late payment). I would try and negotiate out the annual fee...if your FICO is over 800 I'm sure they'll see that you don't have to tolerate an annual fee and you can probably get it waived.

If you really want a card that gives you cash back, with a FICO score almost as good as that of Satan Himself, you should have no problem getting one. The only caveat is that, since part of your credit rating is based on the average age of your accounts, you might take a small ding because the new account will slightly reduce this average age.

[Anonymous]

Don't close it, especially given it's an old card. Assuming the card you want is the same type (visa/mc/amex) as your existing card, citi should be able to convert the card keeping it's age/etc. However call and before converting double check this. Otherwise just get a new card.

[STT340]

I have converted a Citibank card from one kind to another with no problem -- no inquiries on my CR or change in my score.  My account number even stayed the same.  However, when calling, make sure you have an agent that understands your request.  On my first call to Citibank I was told I could not do it and would have to apply for another card.  I said "no thanks," called back the next day and spoke with a different agent.  She was very helpful and took care of my request.

[Anonymous]

Thanks for taking the time to respond. I appreciate it.

[Anonymous]

With Citi, as long as you keep the same card type (e.g. Visa to Visa), usually it won't change your card number.

[Anonymous]

"With Citi, as long as you keep the same card type (e.g. Visa to Visa), usually it won't change your card number"

Thanks for contributing new information to the thread . However, the above is only true with enough persistence, for instance try converting a professional card w/ thankyou to say professional cash. You'll be very surprised over how difficult this will be (although can be done).

[Anonymous]

Personally I don't like annual fee cards, especially if they don't really get much use. Guess I'll never apply for the Amex Gold Rewards.  You may be able to call them and ask that they waive the annual fee or convert it with the current history to another card with no annual fee.  It does seem to be an old card for you.  Doyou have other cards that were opened aroundte same time?

Message Edited by Brammy on 03-31-2007 06:43 PM

[SmartCookie]

My folks have the Citibank AA card and it's such a dumb choice for them.

Anyone have any recent Citibank conversion experiences?