I've had my Costco-branded American Express credit card for 12+ years. CitiBank will be purchasing the portfolio from AMEX in line with their new deal with Costco. Assuming no hard credit pull and no ding for not being the initiator of opening the new card, will this transaction have a negative impact on my credit score? My thought process behind this would be that my account age average will take a pretty decent hit with my 12-year old account closing and a new account opening.
Seeing that I don't particularly have a need for the CitiBank version of the card, would the impact be significantly more if I close the AMEX and opened a new card of my choosing so that I retain the available balance when my score is analyzed? I would believe that closing the account myself would have no greater impact than it being closed as a result of the transition, but applying for and opening a new card would have a greater impact.
Ultimately I don't believe either scenario would really have an impact that would "harm" my credit, but I like to be educated as far as what options are available and what impacts will be incurred.