Switching Visa Cards with the Same Bank

[Justin]

I currenty have a CIBC classic Visa card but would like to switch to a CIBC Dividend card.

I am not sure how this works. Since it is the same bank, are they able to just switch me to the new card or will they give me the new card but I will still have my CIBC classic?

If i end up with 2 cards, what happens to my credit rating if I were to cancel the Classic? I've had it for about 4 years and it is my oldest form of credit.

If they are able to just switch me to the new card, how will my credit be affected?

Thanks

[ghostryder]

I am not sure how this works. Since it is the same bank, are they able to just switch me to the new card or will they give me the new card but I will still have my CIBC classic?


Not sure if CIBC's procedures are similiar but my GF just changed a regular RBC visa to a Rewards Gold one and when her new card came and she called to activate it they told her that her old card would stay active for 30 days then self-cancel. All charges made on the old card would be on the new card's account.

[crazyqqq]

once you call, they will send you a new card. you can still use your old card until you receive the new card. Then you call CIBC to activate your new card. You old card will automatic deactivate. Everything remains the same including your credit score.

[TheCheez]

CIBC is really good about switching to a different card just call them up.

[texedomel]

I did the same switch a few years ago and it has no negative effect on my credit report (CIBC reports the CC account opens on the date I got the very first card).

[Thalo]

Provided it's the same limit there will be no application, just a simple switch.

[jacksorbetta]

Provided it's the same limit there will be no application, just a simple switch.

Thalo: regarding TD's visa's: I have the Emerald, which I am not using. There's really no bennies to it, and @12.9%, I'm sure as heck not going to ever carry a balance on it. What card would you recommend I switch to? I recently switched my RBC classic to the Starbuck's Visa, and it shows on my CR as a new account, with the old one as closed. Me no likey that factor:mad: . Would TD do the same? I'd be interested in the Rebate Cash back card.

Thanks in advance!

[Justin]

Thalo: regarding TD's visa's: I have the Emerald, which I am not using. There's really no bennies to it, and @12.9%, I'm sure as heck not going to ever carry a balance on it. What card would you recommend I switch to? I recently switched my RBC classic to the Starbuck's Visa, and it shows on my CR as a new account, with the old one as closed. Me no likey that factor:mad: . Would TD do the same? I'd be interested in the Rebate Cash back card.

Thanks in advance!


Thats what I am worried about. I dont want my current card to show as closed if I switch to a different card.

Others in this thread have mentioned that it should just be a simple switch and still show the original card date but in your case with RBC it did not work that way.

The rewards with the CIBC dividend are not that great (highest tier is 1% for annual speaning over $3000) but I figure that if it will be simple to switch and not affect my credit score there is no reason to keep my current card.

I currenty put atleast $8000 on my current card each year so should save about $60/ year at my current spending by switching.

[jerryhung]

CIBC: just switch. I changed my 1% Dividend to Aerogold on the phone

AMEX: close and new, so NO "transfer/switch"

TD: I forgot, maybe they can do switch as well

You know, you could just make 1 call and solve your question?

[Justin]

CIBC: just switch. I changed my 1% Dividend to Aerogold on the phone

AMEX: close and new, so NO "transfer/switch"

TD: I forgot, maybe they can do switch as well

You know, you could just make 1 call and solve your question?

I will give them a call but I thought I would ask here first. Half the time customer service people on the phone dont know what they are talking about. I could talk to five different people and all five would probably tell me something different.

[Drew_W]

I will give them a call but I thought I would ask here first. Half the time customer service people on the phone dont know what they are talking about. I could talk to five different people and all five would probably tell me something different.

Keep calling back until the odds are in your favour. :)