Just wanted to followup, I was able to downgrade my CSP Visa to a no-fee CS Visa and apply and get approved for the CSP MC. Still waiting for points to post, although the rep did confirm the sign-up bonus.

Friend was initially denied the CSP MC after downgrading her CSP Visa to a no-fee CS Visa (rep said they were the same product), so she converted her CS Visa to a Chase Freedom and then called the rep back, and is now approved for the CSP MC. Waiting for the card to call and confirm the sign-up bonus.