Originally Posted by babaamit
when you convert a card to a no-fee card or something, does that not report as closing one card and opening another? Or do they do it through the same account (thus your history and # of accounts remains the same)?
I think this depends on the card issuer. I've had it happen both ways.
Also-- does canceling a card hurt you for any other reason than lowering your amount of available credit and possibly shortening your overall credit history length?
I think those are the two main effects. However, the exact formula is not released, so it's hard to know exactly.