Question for CC "experts"

[MommaBerd]

We currently have a "basic" credit card and I'm considering upgrading to the "preferred" card. Will this trigger a hit to our credit? I'm only concerned because I recently got the Target REDcard and the AmEx Blue Cash Preferred. So, I'm thinking that if the CC companies treat "upgrading" just like getting a new credit card, then I probably should hold off.
From this board, I have learned that I really should pay more attention to the perks we have - or don't have - as we could be getting a lot more bang for our bucks. (We are a charge/pay-in-full family.)
Thanks for your help!

 

[havaneselover]

It might depend. It looks like some banks (not sure if all) consider this a closed account so it impacts your credit history.

 

[FairestOfThemAll37]

They might do a hard pull and they might not. While those stay on your credit report for two years, they don't affect it after about 7 months. Unless you plan on applying for a loan in the next two years, I wouldn't worry about the small hit.

Most folks who sign up for cc bonuses will group them to minimize hard pulls but will have a string of hard pulls every few months.