Have had my Citi card since 1986 - while I hate keeping a relationship with a TBTF bank, I will be downgrading the card next year to the 0.5 mile/$ option so as to avoid the annual fee. Definitely credit-score-positive to keep long-held accounts active vs. churning short-held account. (Of course I never carry a balance ever so actually I am what the banks call a "deadbeat" anyway). So we'll find out next summer if they offer me anything to keep my current card or not.

It does seem odd how they treat long time customers, can't think of any other industry that so willingly lets long time customers leave - maybe the OP was a "deadbeat" too??