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Question By
mwhealy31

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How does changing credit cards affect scores:
Amtrak Rewards changing from Chase to BOA. Plan to cancel 2 (personal and business) Chase credit cards and open in BOA. How will it affect scores

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Usually when you close accounts you should expect a score DECREASE. The amount of the damage will depend on the rest of your credit profile. I would strongly advise against closing more than one card at a time. Close one and see the effects before you close another.

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Assuming you aren't philosophically adverse to having another credit card for some reason, as long as you are getting the hard inquiry for the new card from BOA anyway, I would consider just applying for the new card and stop using the old one rather than close the account altogether.  That would most likely lower your overall credit utilization, keep your average credit card age a little higher, and probably increase your score rather than lower it.

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