Originally Posted by
SteveF
I downgraded this morning. According to the agent the account number, pin, etc. all stays the same, but I didn't ask about the credit limit. Does it count as a new credit application and have an effect on your credit score? I don't know, but I've just checked my account and the downgrade is already showing and the credit limit is the same so I suspect not.
I believe they take historical account information and "cached" credit information to make the decision so it is unlikely to show up as a search on your credit file. I have done this a few times over the years and it has never resulted in a dedicated search