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 22, 2016, 3:48 pm
#301
Join Date: Oct 2014
Posts: 77
I now have the following Chase cards:
CSR
Ink Cash #1 (from a downgraded Ink Plus #1)
Ink Cash #2 (opened for the 0% 12 month promo and 30k bonus)
Ink Plus #2
CF
As is the case for many others, the newly acquired CSR has negated my need for an Ink Plus. I tried to downgrade the Ink Plus #2 to the CFU via SM and was told I couldn't (it was just opened in April), but that I could apply for the CFU. CSR is my current non-category spend card, but I was wanting to switch that allocation to CFU.
Before I apply for the CFU and expend another 1 of my 5 applications, I want to make sure I understand how the 5/24 metric is tracked. I've used 3 different businesses to open the above mentioned cards. Do they all count against the same 5 count, or are they segregated by SSN, EIN, or something else? I have applied for all business cards as a sole proprietor, i.e., SSN was given, not an EIN.
CSR
Ink Cash #1 (from a downgraded Ink Plus #1)
Ink Cash #2 (opened for the 0% 12 month promo and 30k bonus)
Ink Plus #2
CF
As is the case for many others, the newly acquired CSR has negated my need for an Ink Plus. I tried to downgrade the Ink Plus #2 to the CFU via SM and was told I couldn't (it was just opened in April), but that I could apply for the CFU. CSR is my current non-category spend card, but I was wanting to switch that allocation to CFU.
Before I apply for the CFU and expend another 1 of my 5 applications, I want to make sure I understand how the 5/24 metric is tracked. I've used 3 different businesses to open the above mentioned cards. Do they all count against the same 5 count, or are they segregated by SSN, EIN, or something else? I have applied for all business cards as a sole proprietor, i.e., SSN was given, not an EIN.
Last edited by Dizcards; Sep 22, 2016 at 3:54 pm
Sep 23, 2016, 8:54 pm
#302
Join Date: Dec 2013
Posts: 3,508
Are we still able to downgrade/PC cards to CF? I already have a CF but was thinking of downgrading my CSP when the AF comes up in 2017 to a second CF if I can.
I already have enough ways to earn URs without needing the CFU.
I already have enough ways to earn URs without needing the CFU.
Sep 26, 2016, 5:55 pm
#303
Join Date: Mar 2016
Posts: 398
Any reason to think i wouldn't be able to upgrade a Slate card to CSR? The slate is my oldest cc and it never gets used. Would rather upgrade my 12 year old Slate and cancel my 1 year old CSP than the other way around.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
Sep 26, 2016, 8:21 pm
#304
Join Date: Feb 2004
Posts: 5
If I product change from Sapphire to Freedom, will that count as a new credit card with respect to the 5/24 rule? In other words, if I am currently at 4/24, will a product change send me immediately to 5/24?
Sep 26, 2016, 9:41 pm
#305
Join Date: May 2015
Location: LAX, BUR
Programs: AS,AA,JB, HH Gold, Starriott Titanium Elite, Hyatt Explorist, Global Entry
Posts: 1,933
Sep 27, 2016, 8:11 am
#306
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,099
Any reason to think i wouldn't be able to upgrade a Slate card to CSR? The slate is my oldest cc and it never gets used. Would rather upgrade my 12 year old Slate and cancel my 1 year old CSP than the other way around.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
Sep 28, 2016, 10:50 am
#307
Join Date: Mar 2009
Location: Georgia
Programs: DL
Posts: 58
Any reason to think i wouldn't be able to upgrade a Slate card to CSR? The slate is my oldest cc and it never gets used. Would rather upgrade my 12 year old Slate and cancel my 1 year old CSP than the other way around.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
only reason i gave pause is because we're going all the way from the bottom to the top with the PC.
Sep 28, 2016, 11:52 am
#308
Join Date: Mar 2016
Posts: 398
For now, i'd rather have the CSR than the Prestige and don't want to pay 2 $450 annual fees.
I doubt i'll have any issues converting the CSP, but i'll try my Slate first in a couple weeks and see how it goes.
Sep 28, 2016, 1:10 pm
#309
Join Date: Jul 2016
Location: Dallas, TX
Programs: WN A-List Pref, Hilton Diamond, Marriott Gold, IHG Plat
Posts: 460
Yes, that is correct. But i'm not eligible to apply for the card. Even checked in branch for pre-approved offers. My prestige AF is coming due soon, so it makes sense to at least PC for now to the CSR, and if later, i can cancel and reapply for the sign up offer, great.
For now, i'd rather have the CSR than the Prestige and don't want to pay 2 $450 annual fees.
I doubt i'll have any issues converting the CSP, but i'll try my Slate first in a couple weeks and see how it goes.
For now, i'd rather have the CSR than the Prestige and don't want to pay 2 $450 annual fees.
I doubt i'll have any issues converting the CSP, but i'll try my Slate first in a couple weeks and see how it goes.
Others may disagree, but I always try to keep the accounts open to support my credit score. So long as you can move to a no AF card, the account number should stay the same. (Caveat: I know there's older Chase cards that were MC instead of Visa, so that would be a cancel+new card. Caveat emptor)
Sep 28, 2016, 2:51 pm
#310
Join Date: May 2015
Location: LAX
Programs: AA, AS, UA, WN, Hyatt Globalist, Marriott Platinum
Posts: 88
So long as the CL on your CSP is $10k or above, you could move the CL to a new CSR and cancel the CSP after (or convert to another card like CF or CFU if there's still CL available).
Others may disagree, but I always try to keep the accounts open to support my credit score. So long as you can move to a no AF card, the account number should stay the same. (Caveat: I know there's older Chase cards that were MC instead of Visa, so that would be a cancel+new card. Caveat emptor)
Others may disagree, but I always try to keep the accounts open to support my credit score. So long as you can move to a no AF card, the account number should stay the same. (Caveat: I know there's older Chase cards that were MC instead of Visa, so that would be a cancel+new card. Caveat emptor)
Sep 28, 2016, 3:10 pm
#311
Join Date: Jul 2016
Location: Dallas, TX
Programs: WN A-List Pref, Hilton Diamond, Marriott Gold, IHG Plat
Posts: 460
This isn't how I understood it, but I seriously hope that I'm wrong! This would be a huge benefit.
Sep 28, 2016, 10:29 pm
#312
Join Date: May 2015
Location: LAX
Programs: AA, AS, UA, WN, Hyatt Globalist, Marriott Platinum
Posts: 88
Oct 11, 2016, 7:53 am
#313
Join Date: Jun 2015
Posts: 132
I currently have a UA Mileage Plus X, CSP, and Ink + all due for AF. I also have a CF. Would love to get a CSR, but I'm over 5/24. Could I get some suggestions on how to maximize doing some cancels or PC's. Don't really use the UA, nor the Ink+ since my wife has one. I was thinking trying to PC UA card to no AF, downgrade CSP to FU, and close Ink+ and move CL to apply for CSR.
Oct 11, 2016, 8:02 pm
#314
Join Date: Feb 2015
Location: Seattle
Programs: AS
Posts: 2,293
Approved and received CSR early September. Already met bonus spend and used travel credit for this year.
AF on CSP posted on Sept 1. Called today to cancel CSP card. First agent asked why. I said with CSR, there is no need to maintain CSP and it's AF. Put on hold then got hang up. Second call , agent quickly agreed that with superior benefits of CSR,
Keeping CSP did not make sense. She asked if I would like to downgrade to Freedom unlimited and balance would transfer from preferred along with refunded AF. 1.5 rebate on spend not travel or dining and then transfer UR to CSR account. Yea!!!
Update on metal card CSR rollout. I was told today that it would begin Nov 1.
AF on CSP posted on Sept 1. Called today to cancel CSP card. First agent asked why. I said with CSR, there is no need to maintain CSP and it's AF. Put on hold then got hang up. Second call , agent quickly agreed that with superior benefits of CSR,
Keeping CSP did not make sense. She asked if I would like to downgrade to Freedom unlimited and balance would transfer from preferred along with refunded AF. 1.5 rebate on spend not travel or dining and then transfer UR to CSR account. Yea!!!
Update on metal card CSR rollout. I was told today that it would begin Nov 1.
Oct 12, 2016, 2:59 am
#315
Join Date: Oct 2016
Posts: 278
Not a big deal either way, but there's your datapoint.