Originally Posted by docbert

At the end of the day it's not really a "transfer" - they just use your existing relationship with them in place of you having a local credit rating/references/etc.

Your existing card will remain active (unless you cancel it separately), and the new credit limit isn't even tied to the old one - although obviously they might give you a new one the same as the old but it'll be a manual thing.

Local rules apply for which cards you're allowed get, and (with the usual exceptions) normal annual fees apply...