Originally Posted by
FrugalShopper
I have never upgraded a card before, but when I asked the CSRs they told me I can do it anytime. Also, Chase will send you a letter in the mail about the downgrade and gives you so long to "reject the changes" and revert back. I do not know if this would trigger an immediate charge of the annual fee and if so, when the next annual fee would get charged, i.e. is it retroactive or strictly just going forward. If it is not retroactive, maybe we have a strategy here. Downgrade, then wait until the deadline on the letter and reject the change to save some money.
Thanks, FrugalShopper. It is pretty common with some cards that issuers do not allow you to upgrade for a certain amount of time after downgrading, although I do believe that with some cards, there may be a grace period like you mentioned where one can correct a mistake. The post quoted below from earlier in the year suggests that Chase does have an upgrade policy like I asked about, at least on the United Explorer card. BTW, I'm not looking to game the system, but if I can get the new CSP Reserve, there is no reason for me to pay an annual fee for the Ink Plus when the Ink Cash will meet my needs.
Originally Posted by
pallhedge
I finally got around to calling Chase re:downgrading/upgrading MileagePlus Cards today. Here's some info I got that I wasn't clear on before the call:
- I have 60 days from when MPE AF is posted to get a refund if I cancel
- I can downgrade any time, the AF credit will be pro-rated
- The no AF card also loses Visa Signature benefits
- Can't upgrade back to Explorer until 1 full year after downgrading
- Upgrading back to MPE won't restore Visa Signature benefits
Still not sure what I'm going to do.