Instead of renewing an active web hosting account, I would prefer to park this domain to one of my other web hosting accounts. How do I go about that?

First, you need to CANCEL / TERMINATE the Web Hosting Account that you want Parked.

http://www.hostingcheck.com/whmcs/knowledgebase.php?action=displayarticle&id=223

 

After it has been Terminated / Cancelled - Then and only then - you would login to your cPanel and Park the Domain, as shown here:

http://www.hostingcheck.com/whmcs/knowledgebase.php?action=displayarticle&id=204

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