Will changing card type (product change) affect credit score?

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Moneytalks
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Will changing card type (product change) affect credit score?

Postby Moneytalks » Tue Apr 10, 2012 9:13 pm

Anyone know if a product change (changing from one card to another within the same bank) puts a dent in the credit score??? Thanks! (specifically Citi bank if that helps)
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)


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bisbicos
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Postby bisbicos » Wed Apr 11, 2012 12:55 am

I tried last month to change/upgrade a Citi college card. They said they don't do that anymore and I would have to reapply for a new card
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Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
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Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
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Moneytalks
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Postby Moneytalks » Wed Apr 11, 2012 8:30 am

Oh, interesting...by "college card" do mean a Citi Dividend??
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

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bisbicos
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Postby bisbicos » Wed Apr 11, 2012 1:16 pm

Naw it's the Citi mtvu card
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

Crashem
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Postby Crashem » Wed Apr 11, 2012 6:14 pm

Remember it is all about the credit report. If the tradeline continues to report the same, as far as CRA are concerned, it is the same card. However if the account number changes or the open date etc, it is like you closed a credit card and opened a new one, with all the potentially ill effects of that. So ask the card issuer for more details. I have heard it go both ways.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Money card
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Postby Money card » Wed Apr 11, 2012 9:08 pm

Money talks they're right. If all you do is upgrade or downgrade there's no dent. But if you re-apply for a higher level card then it's like opening a new card.

For example let's say you have green card and you want to go to platinum, you just call and they will raise your fee and give you better perks.

But let's say you have a capitol1 venture one and you want the higher up venture card for free, but they won't give it to you. so you can apply for the different card and there will be a dent in this situation.

Moneytalks
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Postby Moneytalks » Thu Apr 26, 2012 5:42 pm

Thanks Money Card, I decided to stay with the dividend for now, since they said they don't do product changes anymore :(
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JCarter
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Postby JCarter » Fri Apr 27, 2012 1:16 am

Moneytalks wrote:Thanks Money Card, I decided to stay with the dividend for now, since they said they don't do product changes anymore :(


Why not just obtain a new card, in addition to the Dividend?

Moneytalks
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Postby Moneytalks » Fri Apr 27, 2012 6:34 pm

JCarter wrote:Why not just obtain a new card, in addition to the Dividend?


The thought has crossed my mind JCarter, I think I just might... if anything, I wont use the dividend, right?
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

JCarter
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Postby JCarter » Fri Apr 27, 2012 6:43 pm

Moneytalks wrote:The thought has crossed my mind JCarter, I think I just might... if anything, I wont use the dividend, right?


Exactly. Citi does offer some good card products, choose wisely.



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