How does canceling your first card and opening a new one with same bank affect your credit?

I recently received an offer for a card through HSBC that is better than the deal on my first card through them. 2% cash back on purchases, 11.9% interest rate, no annual fee as opposed to 14.9% on old account and $39 annual fee. I am considering an option they gave me. If I open the new account, they can combine the credit lines, but they will close the old account, which I have a 1 1/2 year history on. I know history with a creditor is a factor in your credit score. Would this change my length of history according to my FICO score, even though the new card is with the same bank?

How does canceling your first card and opening a new one with same bank affect your credit?credit repair

In theory, it shouldn%26#039;t really change your cedit rating at all.

However, if the new card has a larger credit limit then the old card, it is likely that this will be a POSITIVE look on your credit report, rather then a smaller one causing a NEGATIVE look.((If the banking institution you are dealing with doesn%26#039;t trust you enough to atleast give you the same credit limit, then you must suck with your payments, atleast that%26#039;s how OTHERS will see it on your credit report.))

Additionally, a card company offering better rates to thier%26#039; own customer likely means that you keep them happy, indicating you already have a nice credit score with them.