Feb 12, 2016, 8:56 am
Last edit by: beltway
This is the general 2016-2019 thread for weighing the relative merits
of keeping, downgrading, or canceling Chase-issued credit cards.
Post-2019 discussion continues in this thread.
of keeping, downgrading, or canceling Chase-issued credit cards.
Post-2019 discussion continues in this thread.
What's the main reason people product change (PC)?
The benefits offered by a particular card, might suit you better than the card you are holding. Many people, unable to qualify for a new Chase Sapphire Reserve application, upgraded from the Sapphire Preferred to the Sapphire Reserve, because the benefits of the CSR's cash reimbursements made the annual fee a nominal difference the first year. And vice versa- the onerous $450 yearly fee of the CSR makes an appealing case to downgrade to the Sapphire Preferred, and eventually to the no-fee Sapphire or a Freedom card.
Many people product change to avoid the annual fees on the premium versions of the card. Keeping the card open, via a product change, keeps the account open. This allows you to retain the seasoned account, and the banking relationship that the older card has established with Chase.
Why not just cancel the card and be done with it?
This may be the right choice for you, but others want some of the card benefits without having to reapply. Also, Chase has become very restrictive for new card applicants. For Chase cards, you must wait 24- 48 months since the last time you received a bonus before reapplying. Please see the threads on the individual cards for updated overlay rules.
An additional (and more stringent) overlay is the infamous 5/24 rule, which Chase instituted in May 2016 as a counter-measure against churning, or, as they refer to it, "Serial Starters." The 5/24 rule is that you won't be eligible for most Chase card products if you've opened more than 5 credit cards in 24 months. For more on this and other application-related issues, see the current "Applying for Chase Credit Cards " Master thread.
Finally, canceling certain cards--those earning Chase Ultimate Rewards--may deprive you of the ability to exchange UR for miles/points in air & hotel programs. See Ultimate Rewards transfer partners, times & rules.
Is there any way I can keep a card without paying the annual fee?
See Chase Retention Bonuses: June 2015-Present
Are there any restrictions on product changes?
Product changes are only allowed within the same card "family," and are not permitted between business and personal cards. Also, Chase cites the federal CARD Act to deny product changes on any account less that one year old.
Will a product change count as a new card?
No, you will keep your same card number, "opened on" date, credit line, automatic payment arrangements, etc. A product change does not count against Chase's 5/24 limitations on new cards.
Will I get a signup bonus when I change?
No, product changes do not result in point bonuses. Signup bonuses are reserved for new applicants only. For the complete list of public sign up offers, check the Chase sitemap here: https://creditcards.chase.com/sitemap
Is there a place I can look to compare cards?
Go here: https://creditcards.chase.com/credit...D=177087865887
Click: All cards
Place a checkmark in the Compare box for up to three cards.
Click: Compare cards...and you should see a side-by-side display.
I've figured out what I want to switch to. How do I product change my card?
Call the number on the back of your card.
Product changes for the Ultimate Reward Business and Personal Card Family
The UR family of cards includes the Chase Ink business cards, the Freedom Unlimited, the Freedom Card, and the Chase Sapphire Preferred, Reserve and Sapphire.
The Slate (personal) card is also available to downgrade to. It has no annual fee and does not earn any type of reward points. It offers a low fee (currently 0% for the first 60 days) balance transfers and APR.
Personal Cards
- Freedom: 5X points in rotating quarterly categories up to $1500 spend per quarter. If you max out the $1500 every quarter, it totals 7500 UR per quarter, or 30,000 UR per year.
- Freedom Unlimited: 1.5X for all spending, no bonus categories. $20,000 in spend would net 30,000 UR per year.
- Sapphire Reserve: $450 annual fee, $300 annual travel credit, 3X points for travel and dining. Books travel through the UR portal for 1.5 per dollar. Lounge access and other goodies. See the thread here for details.
- Sapphire Preferred: $95 annual fee, 2X points for travel & dining
- For discussion specific to the Sapphire Preferred Card, see Chase Sapphire Preferred - Keep, Downgrade, or Cancel?
- Sapphire: Not available to new applicants. Available as a product downgrade/change only, must tier down from the Sapphire Reserve to Sapphire Preferred to Sapphire or Freedom cards. No annual fee. Some Customer Service Reps are citing that the original product (i.e., the CSR), must be held for one year before downgrading. Please provide data points in the thread if this happens to you.
Business Cards
- Ink Plus: $95 annual fee, 5X office supplies, 5X cellular/landline/cable; 2X gas and hotels
- Ink Preferred: 3x on travel, shipping, internet/phone/cable, & some online advertising.
- Ink Cash: No annual fee, 5X office supplies, 5X cellular/landline/cable; 2X gas and restaurants
If you still have a legacy Ink Classic or Ink Bold business card, neither of which is available for new signups, you can product change to one of the other Ink cards.
Considerations for downgrading/upgrading:
Can I combine my UR points?
Yes, UR can be combined freely across the cardholder's own personal and business accounts.
What about transfering my UR to another person's Chase UR account? To their air/hotel partner account?
With restrictions, UR from a personal card can be transferred to a person living at the same address. Business cards allow transfer to owners of the company listed as authorized users.
However, be warned that there are transfer restrictions. Unauthorized transfers have resulted in shut-downs. Review the Chase T&C for details before planning a transfer. For discussion, see http://www.flyertalk.com/forum/chase...-accounts.html.
The Freedom cards, no-fee Ink Cash, and no-fee Sapphire cards do not allow UR transfer to airline/hotel partners. If you are downgrading from a premium UR card and will only have no-fee cards left, it may be prudent to transfer your points to the partner of your choice beforehand.
I know I can use UR to pay for travel directly (as opposed to transfering points into a travel partner program). Do the Chase UR cards differ on this?
Only the Sapphire Reserve books travel on the UR portal for 1.5. So you can stack your card bonus opportunities when your UR points are combined into your CSR account and used for booking travel. If, for instance, you earned 5x on your Ink Plus on your phone bill, and combine those 5x Ink earned points into your CSR's UR account, you'll now get an additional .5 in value when you redeem them on the travel portal.
Product Changes for United Airlines Cards
There are options to downgrade or upgrade UA cards.
- United Mileage Plus Card- no annual fee, 1 UA mile per $2 in spend
- United Mileage Plus Explorer Card- $95 annual fee, 1 mile per dollar earning, additional award inventory on UA, free checked bag, 25% bonus on the shopping portal.
- United Plus Club Card- $450 annual fee, 1.5 miles per $1, many additional premium card benefits
- Business Cards for the Mileage Plus and Club Card give you a choice to upgrade or downgrade between those two.
Southwest Airlines Cards
The difference here is a nominal $30/3000 points per year.
Personal cards
- Plus Card- $69 annual fee, 3000 bonus points upon renewal
- Premiere Card- $99 annual fee, 6000 bonus points upon renewal
Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel? (2016-2019)
Feb 25, 2017, 7:00 am
#421
Join Date: Sep 2011
Posts: 1,857
You will see them--as well as any future points that you earn--on your Freedom account. They can then be combined onto your wife's CSR in the same way. Take full advantage of the 5x earning categories.
Feb 25, 2017, 11:45 am
#422
Join Date: May 2015
Posts: 135
Question about downgrading as it relates to current Ultimate Rewards Points:
Considering downgrading my Chase Sapphire Preferred to a Chase Freedom. I transferred my existing points to my spouse's Sapphire Reserve account. Can anyone confirm what will happen with the points on my recent transactions that I have not yet shown up in my account?
Considering downgrading my Chase Sapphire Preferred to a Chase Freedom. I transferred my existing points to my spouse's Sapphire Reserve account. Can anyone confirm what will happen with the points on my recent transactions that I have not yet shown up in my account?
Your points show up on your Freedom automatically, all earned points will just carry forward
Mar 1, 2017, 12:16 pm
#423
Join Date: Mar 2017
Location: L.A.
Posts: 17
Wondering what you wise folks suggest I do with my current set up. Any help would be appreciated.
Currently have (from oldest to newest): FU, F, CSP, CSR
I was told that I can only get my CSP AF prorated refund by doing a PC. If this is the case, my plan was for my statement to post this week so I get my 2x dining points, then PC to a second FU. Get my AF refund and spend it (~$30), transfer as much of the limit as I can to my original FU, then close this card out. I have read you can merge the CSP w/ the CSR, but not interested in doing that.
Does anyone think this is an OK plan or do you have any other suggestions? If there is a way to make this more streamlined, please also feel free to suggest a way!
Currently have (from oldest to newest): FU, F, CSP, CSR
I was told that I can only get my CSP AF prorated refund by doing a PC. If this is the case, my plan was for my statement to post this week so I get my 2x dining points, then PC to a second FU. Get my AF refund and spend it (~$30), transfer as much of the limit as I can to my original FU, then close this card out. I have read you can merge the CSP w/ the CSR, but not interested in doing that.
Does anyone think this is an OK plan or do you have any other suggestions? If there is a way to make this more streamlined, please also feel free to suggest a way!
Mar 1, 2017, 12:31 pm
#424
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,957
Welcome to Flyertalk
I would change to a second Freedom, and keep it open for now. There is no benefit to having more than one Freedom Unlimited, but because Freedom's promotional categories are capped there may be a quarter when having more than one card gives you an opportunity for incremental rewards.
I would change to a second Freedom, and keep it open for now. There is no benefit to having more than one Freedom Unlimited, but because Freedom's promotional categories are capped there may be a quarter when having more than one card gives you an opportunity for incremental rewards.
Mar 1, 2017, 12:38 pm
#425
Join Date: Mar 2017
Location: L.A.
Posts: 17
Welcome to Flyertalk
I would change to a second Freedom, and keep it open for now. There is no benefit to having more than one Freedom Unlimited, but because Freedom's promotional categories are capped there may be a quarter when having more than one card gives you an opportunity for incremental rewards.
I would change to a second Freedom, and keep it open for now. There is no benefit to having more than one Freedom Unlimited, but because Freedom's promotional categories are capped there may be a quarter when having more than one card gives you an opportunity for incremental rewards.
Happy to be here to learn + contribute.I thought about your approach already, but I rarely max out the quarter on my current Freedom.
Some more detail: F has $3.5k limit, FU has $5k limit, CSP has $11.2k limit, and CSR has $29.9k limit.
The plan was to PC CSP to anything, shift $100 to the CSR because that odd-limit bothers me, then shift $10k or $11k to my FU. My Freedom's $3.5k is only used for 5x bonus so I would never go beyond that limit for any purchases.
Granted, I can alternatively make the CSP into a 2nd Freedom like you mentioned and still shift my credit around amongst my cards. It definitely does give me more opportunity. If I go this route, is it necessary to make a small charge on each card per month, or can I go months without any charging (so it doesn't close)?
Thanks - apologies if my explanation is cumbersome to read
Mar 1, 2017, 12:45 pm
#426
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,957
Mar 1, 2017, 12:48 pm
#427
Join Date: Mar 2017
Location: L.A.
Posts: 17
I will be PCing the CSP to a 2nd F once my points post. I'll shift my limits around and do exactly what you said with the charging.
Cheers
^
Mar 1, 2017, 4:29 pm
#428
Join Date: Jun 2007
Posts: 1,406
Chase UR points and downgrading?
My Biz Ink is approaching the annual fee - I would downgrade but I would loose my ability to transfer to an airline. Have just over 100k in UR.
I am now traveling on Southwest 2 times a yr (my initial 50k bonus helped me) and I have a $69 annual fee card on Southwest. Initial thinking is to move this UR balance to Southwest - then wondering paying the annual fee to Biz Ink Plus ($95) is better than Southwest?
Are there any other way to handle? Is there a Chase card with UR that allows transfer and has no annual fee?
Is there a better travel card than Southwest or Biz Ink or ...?
I am now traveling on Southwest 2 times a yr (my initial 50k bonus helped me) and I have a $69 annual fee card on Southwest. Initial thinking is to move this UR balance to Southwest - then wondering paying the annual fee to Biz Ink Plus ($95) is better than Southwest?
Are there any other way to handle? Is there a Chase card with UR that allows transfer and has no annual fee?
Is there a better travel card than Southwest or Biz Ink or ...?
Last edited by sciconf; Mar 1, 2017 at 4:58 pm
Mar 1, 2017, 4:41 pm
#429
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,957
Mar 2, 2017, 12:04 pm
#431
Join Date: Dec 2015
Posts: 2
PC United and BA
First post here, so let me know if I'm not doing this correctly Annual fee for wife's United MileagePlus Explore ($95) is due this month. Is there still the option to PC to the no annual fee version? If not, any other options for this PC?
Same question with my British Airways card. Any options to PC with that one? I've done the PC within UR earning cards, but don't know my options with these.
Thanks!
Annual fee for wife's United MileagePlus Explore ($95) is due this month. Is there still the option to PC to the no annual fee version? If not, any other options for this PC? Same question with my British Airways card. Any options to PC with that one? I've done the PC within UR earning cards, but don't know my options with these.
Thanks!
Mar 2, 2017, 12:46 pm
#432
Join Date: Dec 2004
Posts: 7,904
First post here, so let me know if I'm not doing this correctly Annual fee for wife's United MileagePlus Explore ($95) is due this month. Is there still the option to PC to the no annual fee version? If not, any other options for this PC?
Same question with my British Airways card. Any options to PC with that one? I've done the PC within UR earning cards, but don't know my options with these.
Thanks!
Annual fee for wife's United MileagePlus Explore ($95) is due this month. Is there still the option to PC to the no annual fee version? If not, any other options for this PC? Same question with my British Airways card. Any options to PC with that one? I've done the PC within UR earning cards, but don't know my options with these.
Thanks!
Mar 4, 2017, 1:48 pm
#434
FlyerTalk Evangelist
Join Date: Apr 2001
Location: DFW, AA, Hilton
Posts: 16,692
Hi, I'm thinking of downgrading the Chase Sapphire Preferred too, but I already have both the Freedom and Freedom Unlimited. Would they still give me another Freedom card? Is there another option? (I already have the UA MP and CSR.)
Mar 4, 2017, 3:12 pm
#435
Join Date: Apr 2008
Posts: 615
SIAP, CSP sign on bonus increasing to 70k later this month in branch?