Originally Posted by
kaukau
An alternative to closing an account is to change the account, thereby preserving the positive aspects of the original account, such as the line of credit and credit history, while eliminating the unwanted features, such as an annual fee and affiliation with a no longer patronized airline - as well as possibly gaining additional useful features and benefits unique to the changed account.
Example: Chase will change a United Platinum card with an annual fee to a Chase Freedom Card with no annual fee, without pulling a credit inquiry or reporting the original account as closed.
The only annoying thing is, the consolidated card would remain attached to the new card, like forever. We converted a Marriott Visa Signature to a Freedom almost 2 years ago. The transactions continue to show up on both cards, that you can view them online. Though the MR card does not generate paper statement from the day of conversion, but every CS said s/he cannot delete the MR card as it would also delete the Freedom card.