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)
Sep 16, 2016, 7:57 am
#286
Join Date: Jan 2007
Location: ORD
Programs: UA GM
Posts: 241
Got the CSR and SM'd Chase trying to downgrade my CSP to the FU but got denied saying my CSP wasn't a year old yet and you can't downgrade cards under a year and I could apply for an FU if I wanted.
Sep 16, 2016, 8:23 am
#287
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Sep 16, 2016, 10:22 am
#288
Join Date: Apr 2012
Posts: 33
Credit Card Opening/Closing/ Sapphire Reserve advice
Hi Guys,
I currently have 4 credit cards, 3 chase and 1 capital one:
Capital One Quicksilver - had since I was 18, so 11 years currently
Chase Freedom - Had since Dec 2010
Chase Sapphire - Had sine Jan 2014 (previously Sapphire Preferred which I downgraded to escape the annual fee)
Chase Sapphire Preferred - Re signed up and had since Mar 2016 (for bonus)
I currently have the most credit with the Chase Sapphire and want to sign up for the Sapphire Reserve.
Questions:
1) Should I transfer my credit limit to the Sapphire Preferred?
2) Would you close, upgrade, or downgrade any of the above credit cards to get the Sapphire Reserve?
Thanks for the advice in advance!
I currently have 4 credit cards, 3 chase and 1 capital one:
Capital One Quicksilver - had since I was 18, so 11 years currently
Chase Freedom - Had since Dec 2010
Chase Sapphire - Had sine Jan 2014 (previously Sapphire Preferred which I downgraded to escape the annual fee)
Chase Sapphire Preferred - Re signed up and had since Mar 2016 (for bonus)
I currently have the most credit with the Chase Sapphire and want to sign up for the Sapphire Reserve.
Questions:
1) Should I transfer my credit limit to the Sapphire Preferred?
2) Would you close, upgrade, or downgrade any of the above credit cards to get the Sapphire Reserve?
Thanks for the advice in advance!
Last edited by loon22; Sep 16, 2016 at 11:39 am
Sep 16, 2016, 2:38 pm
#289
Join Date: Aug 2016
Location: New York
Posts: 172
I close all my accounts and consolidate and then would upgrade/ product change or just apply and then do all of the following
Sep 17, 2016, 11:58 am
#290
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,215
Hi Guys,
I currently have 4 credit cards, 3 chase and 1 capital one:
Capital One Quicksilver - had since I was 18, so 11 years currently
Chase Freedom - Had since Dec 2010
Chase Sapphire - Had sine Jan 2014 (previously Sapphire Preferred which I downgraded to escape the annual fee)
Chase Sapphire Preferred - Re signed up and had since Mar 2016 (for bonus)
I currently have the most credit with the Chase Sapphire and want to sign up for the Sapphire Reserve.
Questions:
1) Should I transfer my credit limit to the Sapphire Preferred?
2) Would you close, upgrade, or downgrade any of the above credit cards to get the Sapphire Reserve?
Thanks for the advice in advance!
I currently have 4 credit cards, 3 chase and 1 capital one:
Capital One Quicksilver - had since I was 18, so 11 years currently
Chase Freedom - Had since Dec 2010
Chase Sapphire - Had sine Jan 2014 (previously Sapphire Preferred which I downgraded to escape the annual fee)
Chase Sapphire Preferred - Re signed up and had since Mar 2016 (for bonus)
I currently have the most credit with the Chase Sapphire and want to sign up for the Sapphire Reserve.
Questions:
1) Should I transfer my credit limit to the Sapphire Preferred?
2) Would you close, upgrade, or downgrade any of the above credit cards to get the Sapphire Reserve?
Thanks for the advice in advance!
2) I would get rid of the Sapphire as you could change the card to a second Freedom or a Freedom Unlimited to have better earnings potential
Sep 19, 2016, 8:49 am
#291
Join Date: Apr 2012
Posts: 33
1) depends on your credit line now and what chase would consider max credit line. I like to lower credit lines before application (via SM) for an auto approval. BUT they could reshuffle credit lines during reconsideration/pending call.
2) I would get rid of the Sapphire as you could change the card to a second Freedom or a Freedom Unlimited to have better earnings potential
2) I would get rid of the Sapphire as you could change the card to a second Freedom or a Freedom Unlimited to have better earnings potential
Would you downgrade the normal Sapphire to a Freedom Unlimited and then close the SP at renewal?
Thanks!
Sep 19, 2016, 11:16 am
#292
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,215
I would change it to a Freedom or Freedom Unlimited depending on your spending pattern. Why then change it to the SP at renewal?
Sep 19, 2016, 11:20 am
#293
Join Date: Apr 2012
Posts: 33
I already have a F, S, SP, and SPR. If I change the S to a FU and end up getting the SPR I can close the SP?
Sep 19, 2016, 11:48 am
#294
Join Date: Jul 2016
Location: Dallas, TX
Programs: WN A-List Pref, Hilton Diamond, Marriott Gold, IHG Plat
Posts: 460
CF #1 - 5x <= $1500
CF #2 - 5x <= $1500
CFU - 1.5x
CSR - 3x (travel/dining)
I never try to close a card if possible, to extend the lifetime of the account and to keep my total credit available (both of which help boost my FICO).
Sep 20, 2016, 10:23 am
#295
Join Date: Apr 2012
Posts: 33
Rather than close your CSP, PC your CSP to a second CF and maximize the 5x earning categories. Like so:
CF #1 - 5x <= $1500
CF #2 - 5x <= $1500
CFU - 1.5x
CSR - 3x (travel/dining)
I never try to close a card if possible, to extend the lifetime of the account and to keep my total credit available (both of which help boost my FICO).
CF #1 - 5x <= $1500
CF #2 - 5x <= $1500
CFU - 1.5x
CSR - 3x (travel/dining)
I never try to close a card if possible, to extend the lifetime of the account and to keep my total credit available (both of which help boost my FICO).
Sep 20, 2016, 10:41 am
#296
Join Date: Jul 2016
Location: Dallas, TX
Programs: WN A-List Pref, Hilton Diamond, Marriott Gold, IHG Plat
Posts: 460
That's a contentious issue here at FT. Personally, I would apply and see what happens, then call recon to move CL if they don't auto-approve. But that isn't the answer that you'll hear from everyone else, so caveat emptor.
Sep 20, 2016, 10:42 am
#297
Join Date: Oct 2014
Location: PHL
Posts: 226
There is a school of thought that argues against preemptively lowering your credit limit because there is a real chance that you may not get it back, and that can have a negative effect on your credit score by possibly increasing your utilization.
Prior to my CSR application I had nearly 100K in aggregate exposure with Chase, and I was not auto approved. A quick phone call was all it took to reallocate after the fact.
Sep 20, 2016, 12:10 pm
#298
Join Date: Dec 2012
Posts: 204
I have Chase Freedom, Sapphire Preferred and now applied for Reserve. I want to downgrade my Sapphire Preferred to Freedom Unlimited, but I'm afraid that I might lose grandfathered in plan with Chase Freedom and checking account where I get 10 extra points on every transaction. Any thoughts or experiences?
Sep 20, 2016, 12:14 pm
#299
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
http://www.flyertalk.com/forum/chase...dfathered.html
Sep 20, 2016, 9:24 pm
#300
Join Date: Mar 2013
Posts: 506
Hmm. I got my CSR, and I downgraded my CSP to Freedom Unlimited. However, I'm thinking I might have done it wrong.
Should I have downgraded to vanilla Sapphire instead and opened a new FU account? I don't have a Freedom Unlimited yet, so it probably would've made sense for me to reap the signup rewards.
I'm 1/24 now, but CSR took a while to get approved because I already have 5 Chase cards, so I was a bit worried about signing up for a Freedom Unlimited. However, what do you experts think?
Should I have downgraded to vanilla Sapphire instead and opened a new FU account? I don't have a Freedom Unlimited yet, so it probably would've made sense for me to reap the signup rewards.
I'm 1/24 now, but CSR took a while to get approved because I already have 5 Chase cards, so I was a bit worried about signing up for a Freedom Unlimited. However, what do you experts think?