Mar 7, 2014, 7:25 pm
Last edit by: der_saeufer
Why should I keep my CSP?
When downgrading, the card number does not change, but the expiration date and CVV will. The downgraded account retains the same credit limit and opening date, so it doesn't change AAoA nor count towards 5/24.
What's the best use of UR points?
Possible reasons to keep the card include
For additional details, see the CSP Benefits Guide.
Why should I cancel my CSP?- ability to earn 2 UR points/dollar on travel & dining expenses
- primary insurance coverage on rental cars
- See post #369 for an example of how this has real financial value
- 7% annual dividend (Note that this benefit ends in early 2016 with the award of the 2015 dividend.)
- no forex fees
- ability to transfer points at 1:1 (in many cases instantly) to a wide range of airline & hotel partners
- the potential difficulty in being approved again later for a second CSP
- See this wiki for details
- synergy with Freedom or other Chase card earning UR points
- you are among the few customers who receive a retention bonus offsetting the cost of the annual fee
For additional details, see the CSP Benefits Guide.
Possible reasons to cancel the card include
Why should I downgrade my CSP?- lack of interest in the UR transfer partner programs (or you hold, or will hold, another transfer-eligible premium card, such as the Ink Plus)
- you have a no-fee Freedom card to which you can transfer (and warehouse at no cost) your UR points
- you plan to re-apply & earn a second signup bonus at a later date or with a different first-year-free UR card
- Note: In 2015, Chase UR cards became much more difficult to churn
- you would rather use a 2% cashback card for most spending
- benefits of the card in your particular circumstances are outweighed by the annual fee
Possible reasons to downgrade the card include
What can I downgrade to (no AF), and why would I want to?- Opened a new CSR account for that sweet, sweet bonus. The CSP offers nothing that the CSR doesn't, so there's little point in keeping both--the AF is refunded in full if you downgrade within 60 days. There are conflicting reports of prorated refunds for downgrades >60 days after the fee is charged. AF refunds generally post within a day or two.
- You plan to re-apply & earn a second signup bonus at a later date or with a different first-year-free UR card, but have a UR balance you want to keep
- You're waiting out 5/24 to get CSR and you don't want to pay the CSP AF
- Sapphire (non-preferred). Not much point in this. No UR transfers to partners, 2x on dining, 1x on everything else. This card no longer exists for new customers, but it was still a downgrade option from CSP as of 9/16.
- Freedom. 5x bonus categories, rotating by quarter, 1x on everything else. If you downgrade and activate the bonus, you'll get the bonus retroactive to the beginning of the quarter. When they overlap, you get both (e.g. Jul-Sep '16 restaurants paid with CSP pre-downgrade get base points plus 1 extra from CSP and 4 extra from Freedom)
- Freedom Unlimited. 1.5x on everything.
When downgrading, the card number does not change, but the expiration date and CVV will. The downgraded account retains the same credit limit and opening date, so it doesn't change AAoA nor count towards 5/24.
Please read about/discuss this issue in Best use of Ultimate Rewards points [Consolidated].
Chase Sapphire Preferred - Keep, Downgrade, or Cancel?
Feb 15, 2015, 7:06 pm
#481
Join Date: Sep 2013
Posts: 466
I downgraded over a month ago and still haven't received my replacement card.
Does that mean I get to keep the shiny metal one?
Does that mean I get to keep the shiny metal one?
Feb 19, 2015, 11:52 am
#482
Join Date: Jun 2013
Posts: 14
Downgrade to Freedom/Reapply for CSP
Hi all,
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
Mar 4, 2015, 6:59 pm
#483
Join Date: Dec 2010
Programs: Hilton Diamond, Marriott Titanium, Radisson Gold, Hyatt Globalist, M life Gold, IHG Spire
Posts: 918
Hi all,
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
Mar 16, 2015, 8:52 pm
#484
Join Date: Sep 1999
Location: too far from the airport
Posts: 3,298
I downgraded to a regular Sapphire about two years ago, then, after letting it sit in a drawer for a long time, I closed the account about 6 months ago. It still shows (as closed) when I log in, though.
I might want to apply for a new CSP, since it's been much longer than 2 years since the last bonus. What are the odds that the now-closed regular Sapphire will interfere with the 40K UR bonus points?
I might want to apply for a new CSP, since it's been much longer than 2 years since the last bonus. What are the odds that the now-closed regular Sapphire will interfere with the 40K UR bonus points?
Mar 17, 2015, 3:56 am
#485
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,213
Quote:
Originally Posted by Smileesha
Hi all,
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
AFAIK, downgrading a CSP to a regular Sapphire will negate getting another CSP sign up bonus. Downgrading to a Freedom will NOT negate a new CSP sign up bonus. (24 month rule still applies.) If you read through the last 30 pages, other FTers have reported this. YMMV.
Originally Posted by Smileesha
Hi all,
The annual fee on my (reluctant) husband's CSP is coming due soon. I would like to downgrade this card to a Freedom card, and then reapply for the CSP (for the bonus, and because my husband loves the customer service on this card) when we have safely passed the 24 month marker. Is it possible that having downgraded the card will jeopardize the ability to get the bonus on a new CSP card?
We would like the Freedom card without the hard pull, and while keeping this line open, but not at the expense of 40,000 UR points.
Thanks for your help!
AFAIK, downgrading a CSP to a regular Sapphire will negate getting another CSP sign up bonus. Downgrading to a Freedom will NOT negate a new CSP sign up bonus. (24 month rule still applies.) If you read through the last 30 pages, other FTers have reported this. YMMV.
Mar 28, 2015, 1:11 pm
#486
Join Date: Jul 2014
Posts: 197
unable to downgrade to Freedom
I opened CSP about 8 months ago. When I called to downgrade it to a 2nd Freedom (i already have one), CSR offered to downgrade it to CS, but not Freedom. Anyone was able to get 2nd Freedom?
Mar 28, 2015, 3:59 pm
#487
Join Date: Feb 2013
Location: NYC
Programs: AA Gold, US Silver, Starwood Gold, Starbucks Gold
Posts: 331
You need to wait until your account has been open for 1 year + 1 day before being able to downgrade. I just called to downgrade my second CSP to my third Freedom and had success.
Apr 2, 2015, 12:35 pm
#488
Join Date: May 2010
Posts: 943
I downgraded to a regular Sapphire about two years ago, then, after letting it sit in a drawer for a long time, I closed the account about 6 months ago. It still shows (as closed) when I log in, though.
I might want to apply for a new CSP, since it's been much longer than 2 years since the last bonus. What are the odds that the now-closed regular Sapphire will interfere with the 40K UR bonus points?
I might want to apply for a new CSP, since it's been much longer than 2 years since the last bonus. What are the odds that the now-closed regular Sapphire will interfere with the 40K UR bonus points?
Of course this is all conjecture on my part, but in my mind it makes sense.
Apr 2, 2015, 3:22 pm
#489
Join Date: Feb 2015
Posts: 5
Is it possible to downgrade\Change the Chase sapphired preferred to Chase IHG card, considering I already have Chase IHG. That will make 2 IHG card.
Apr 2, 2015, 11:21 pm
#490
Join Date: Nov 2014
Location: New York
Programs: DL PLT, Hilton Diamond, CX MPC Silver
Posts: 265
Apr 6, 2015, 11:32 am
#491
FlyerTalk Evangelist
Join Date: Dec 2003
Location: LAX
Posts: 10,908
Any recent reports on whether downgrading to regular sapphire (rather than freedom) prevents new csp bonus?
Apr 28, 2015, 11:45 am
#492
Join Date: Nov 2014
Location: New York
Programs: DL PLT, Hilton Diamond, CX MPC Silver
Posts: 265
May 1, 2015, 3:51 pm
#493
Join Date: Jan 2014
Location: CA
Programs: AA Plat Pro, FPC Premier, UA Silver, Hyatt Explorist, SPG Gold
Posts: 187
Hello all,
About 3 months ago I cancelled my CSP after having it about 3 yrs. Now, I would like to apply again... I spoke to 3 different reps, each of whom told me I could not apply for the CSP within 24 months of canceling. After some discussion, the last rep agreed that I could apply for the card, but I would not receive a bonus. When I quoted the "24 month" clause in the T&Cs, she said she was speaking from experience and regardless of what the T&Cs say I would not receive the bonus... Is she correct? Any thoughts on this?
About 3 months ago I cancelled my CSP after having it about 3 yrs. Now, I would like to apply again... I spoke to 3 different reps, each of whom told me I could not apply for the CSP within 24 months of canceling. After some discussion, the last rep agreed that I could apply for the card, but I would not receive a bonus. When I quoted the "24 month" clause in the T&Cs, she said she was speaking from experience and regardless of what the T&Cs say I would not receive the bonus... Is she correct? Any thoughts on this?
May 1, 2015, 7:11 pm
#494
FlyerTalk Evangelist
Join Date: Aug 2002
Location: Intermountain West
Programs: Too many to list
Posts: 12,082
Would you believe a rep. over what is written on the Chase website? I wouldn't.
May 2, 2015, 8:43 am
#495
Join Date: Mar 2011
Posts: 127
Outside of the Sapphire Preferred, I have a Chase Ink Bold (which keeps me in UR), Amex Premier Rewards Gold, Chase Freedom, Citi Thank You Premier, Barclay Arrival. Beyond that I have the United, US Airways, & IHG cards. I was thinking of downgrading the card partly just to keep 2x on Dining for the 8/9 months out of the year that the Freedom doesn't offer 5x on Restaurants. Other option is to cancel it completely - only benefit there seems to be I could re-apply and try to get the bonus again after waiting quite a while.
While I find Chase to be far and away the most valuable program between Amex, Citi, etc. , I just wonder how many URs I'm getting on 2x on travel each year to make it worth it. I can get more than 1 point through Amex or Citi for many things, including travel (although Citi transfer partners aren't as good, that's for sure). But 3x Citi for travel (and its a wider travel category now) versus 2x on CSP... I dunno.
Is there a way to see how many points I gained on the travel category on Chase.com? I plan on sniffing around on my own, but if I strike out I'll come back and check here.
But between all my other cards, regularly trying to meet minimum spend on new app-o-ramas, and the fact that I can keep 2x on dining with the no-fee CS card.. I'm not sure I see the point!
Guess I'm looking for others thoughts though, so I can either affirm my feelings or change them.
While I find Chase to be far and away the most valuable program between Amex, Citi, etc. , I just wonder how many URs I'm getting on 2x on travel each year to make it worth it. I can get more than 1 point through Amex or Citi for many things, including travel (although Citi transfer partners aren't as good, that's for sure). But 3x Citi for travel (and its a wider travel category now) versus 2x on CSP... I dunno.
Is there a way to see how many points I gained on the travel category on Chase.com? I plan on sniffing around on my own, but if I strike out I'll come back and check here.
But between all my other cards, regularly trying to meet minimum spend on new app-o-ramas, and the fact that I can keep 2x on dining with the no-fee CS card.. I'm not sure I see the point!
Guess I'm looking for others thoughts though, so I can either affirm my feelings or change them.