Originally Posted by
bigwings8
Just a statement. I downgraded club -> explorer and opened a chase sapphire. For a 1K with chase sapphire, the only marginal benefit is award ticket upgrades, so I'm basically paying $90 for them... (And to avoid the pain of closing a credit card account).
Though, if you have comments on whether or not it was logical, I'd be happy to hear
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The following is also interesting and could maybe be exploited. When switching between explorer <=> club,
- your annual statement fee takes between 1 and 6 months to be assessed
- if you switch before a year, the fee is refunded in full
- your club membership lasts > 1 year (I think 13-14 months) and continues even after switching club => explorer
As both the Explorer and Sapphire cards are from Chase just have them move the credit line from the Explorer and add it to the Sapphire cards credit line and cancel the Explorer that way it won't have an effect on your credit utilization part of your credit score. If that is why you think closing it is a pain.