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)
Jun 12, 2016, 10:40 am
#136
Join Date: May 2015
Location: LAX, BUR
Programs: AS,AA,JB, HH Gold, Starriott Titanium Elite, Hyatt Explorist, Global Entry
Posts: 1,933
You can move credit to another card now or when you apply for another.
Don't close a 13 yr old no fee card.
Don't close a 13 yr old no fee card.
Jun 12, 2016, 12:29 pm
#137
Join Date: Sep 2015
Programs: Paying student debt and traveling when i can
Posts: 312
remember to use the card every so often... so chase doesn't close it due to inactivity
Jun 12, 2016, 2:59 pm
#138
Join Date: Feb 2003
Location: On strike
Posts: 8,135
Jun 12, 2016, 4:04 pm
#139
Join Date: Mar 2009
Location: LAX
Posts: 3,267
Thanks for the advice! I'll keep the account open, and maybe try to reallocate some of the Amazon CL elsewhere in a few mo.
Jun 28, 2016, 7:55 am
#140
Join Date: May 2010
Posts: 437
Is there ang Chase card that gives 5x points in office supply stores with no annual fee?
Also does office depot or staples B&M store carry $500 gift cards?
Also does office depot or staples B&M store carry $500 gift cards?
Jun 28, 2016, 3:02 pm
#142
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Older cards might look like this:
Have you tried using it to make a purchase at an office supply store?
Jun 29, 2016, 12:02 pm
#143
Join Date: May 2010
Posts: 437
I think ink cash only gives cash not points
I meant to say 5x points with no annual fee.
I meant to say 5x points with no annual fee.
Jun 29, 2016, 12:44 pm
#144
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Jun 29, 2016, 1:25 pm
#145
Join Date: Feb 2012
Posts: 159
I've had my Ink Plus for nearly 3 years. I'm thinking of downgrading to the Ink Cash (if they allow me). If I were to downgrade, which keeps my same account number, am I eligible to re-apply for an Ink Plus in order to get the larger sign-up bonus?
Furthermore, since the Ink cards are business cards, keeping one open for longer periods doesn't really benefit my personal credit, and closing it doesn't negatively impact.
Thanks!
Furthermore, since the Ink cards are business cards, keeping one open for longer periods doesn't really benefit my personal credit, and closing it doesn't negatively impact.
Thanks!
Jul 13, 2016, 2:06 pm
#146
Join Date: Feb 2012
Posts: 159
I've had my Ink Plus for nearly 3 years. I'm thinking of downgrading to the Ink Cash (if they allow me). If I were to downgrade, which keeps my same account number, am I eligible to re-apply for an Ink Plus in order to get the larger sign-up bonus?
Furthermore, since the Ink cards are business cards, keeping one open for longer periods doesn't really benefit my personal credit, and closing it doesn't negatively impact.
Thanks!
Furthermore, since the Ink cards are business cards, keeping one open for longer periods doesn't really benefit my personal credit, and closing it doesn't negatively impact.
Thanks!
Jul 13, 2016, 2:14 pm
#147
Join Date: May 2010
Posts: 437
But nobody declined or confirmed this yet
Jul 13, 2016, 4:31 pm
#148
Join Date: Feb 2006
Posts: 203
Successfully converted a Slate to a Sapphire ($0 AF 2 points for dining).
Non-preferred Not preferred
Non-preferred Not preferred
Jul 14, 2016, 1:18 am
#149
Join Date: Jan 2014
Location: SFO
Programs: OZ Diamond/*G, IHG Diamond Amb, Hilton Gold
Posts: 2,239
I don't know if I just have had really bad luck or what, but I've called about Hyatt, Ritz-Carlton, IHG, and BA and every time, I'm told no product change possible, no retention bonuses with or without spend, and only option is to close the card. I kept the IHG and Hyatt and closed the Ritz (agent tried to convince me not to by saying there's an airline incidental credit but didn't make any offers so I closed it anyway), and now I have 60 days to close the BA and they won't even upgrade it to the signature, that's how serious they are about no product changes of any kind.
Spend on each card in the last year approx:
Hyatt: 30k
Ritz-Carlton: 10k
IHG: 2.5k
BA: 20k
I know Chase has tightened up but this seems a little much.
Am I flagged for being a bad customer or something?
Jul 29, 2016, 10:43 am
#150
Join Date: Dec 2015
Posts: 70
Slate to Sapphire Product Change (no perks)
Hi all,
CSP is the one card that I never got since starting this points game. I didn't know its value at the time (rookie mistake). And with the 5/24 rule, the past couple of times I applied for CSP, I was never approved even after going through the reconsideration line. The last time I applied for the CSP was March 2016, and prior to that, I applied for it back in June 2015.
I do, however, have a suite of other Chase Cards (Slate, Marriott, United). A month after my last CSP application denial, I got approved for the IHG and Hyatt when I applied for both of them on the same day (April 2016). In early May, I also got the Amex Hilton Honors and Amex Platinum - both approved. My wife has the Ink and CSP, and I am an AU on those cards. We are also AUs in most of the cards that we have (so long as there's an add'l sign up bonus benefit given to having an AU) I also have other cards that truly puts me beyond the 5/24 (so I'm a walking red flag, and I know it).
I pay my bills on time, in full, and have a credit score of 740. I know that with the 5/24 rule, none of these matters since some of you have over 800 FiCO score, and were denied too.
This morning, I called Chase to inquire about a product change. I don't use the Slate nor the United Mileage Plus explorer card. I have a zero balance on both of those cards. When she looked at my account, she offered a product change to CSP, no credit check, no welcome sign-up bonus, annual fee of $95 will not be waived. Basically, this will allow me to get the CSP, and finally have an Ultimate Rewards Account of my own.
Obviously, I want the sign-up bonus and the waived annual fee, but I have to do a new CSP application, and chances are, I'd be denied again given the above reasons. I was thinking of applying for a CSP again later this year, but very skeptical.
Any thoughts? What would you do?
CSP is the one card that I never got since starting this points game. I didn't know its value at the time (rookie mistake). And with the 5/24 rule, the past couple of times I applied for CSP, I was never approved even after going through the reconsideration line. The last time I applied for the CSP was March 2016, and prior to that, I applied for it back in June 2015.
I do, however, have a suite of other Chase Cards (Slate, Marriott, United). A month after my last CSP application denial, I got approved for the IHG and Hyatt when I applied for both of them on the same day (April 2016). In early May, I also got the Amex Hilton Honors and Amex Platinum - both approved. My wife has the Ink and CSP, and I am an AU on those cards. We are also AUs in most of the cards that we have (so long as there's an add'l sign up bonus benefit given to having an AU) I also have other cards that truly puts me beyond the 5/24 (so I'm a walking red flag, and I know it).
I pay my bills on time, in full, and have a credit score of 740. I know that with the 5/24 rule, none of these matters since some of you have over 800 FiCO score, and were denied too.
This morning, I called Chase to inquire about a product change. I don't use the Slate nor the United Mileage Plus explorer card. I have a zero balance on both of those cards. When she looked at my account, she offered a product change to CSP, no credit check, no welcome sign-up bonus, annual fee of $95 will not be waived. Basically, this will allow me to get the CSP, and finally have an Ultimate Rewards Account of my own.
Obviously, I want the sign-up bonus and the waived annual fee, but I have to do a new CSP application, and chances are, I'd be denied again given the above reasons. I was thinking of applying for a CSP again later this year, but very skeptical.
Any thoughts? What would you do?