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 14, 2019, 4:06 pm
#1081
Join Date: Nov 2016
Posts: 48
There is a perception amongst many that canceling the card prior to the one year anniversary may damage one's relationship with the issuing bank.
With AMEX, that is certainly the case - if one closes the card prior to one year, AMEX often penalizes the cardholder by either rescinding the sign-up bonus or refusing to issue more cards in the future.
With Chase, maybe - so people err on the side of caution.
Regarding product changes prior to the one year anniversary, it can be tricky as certain federal banking regulations severely limit the bank's ability to change the T&C's of a card within it's first year of issuance, specifically as it applies to the fee structure.
With AMEX, that is certainly the case - if one closes the card prior to one year, AMEX often penalizes the cardholder by either rescinding the sign-up bonus or refusing to issue more cards in the future.
With Chase, maybe - so people err on the side of caution.
Regarding product changes prior to the one year anniversary, it can be tricky as certain federal banking regulations severely limit the bank's ability to change the T&C's of a card within it's first year of issuance, specifically as it applies to the fee structure.
Jun 21, 2019, 9:25 am
#1082
Join Date: May 2014
Posts: 125
I think I'm set on what I want to do, just thought I would check here first.
I've most most spend away from CSR to amex gold with 4x dining and grocery. I use Amex Bonvoy for most travel as I usually stick to that network. Then use Southwest CC for flights as thats what I'm on 90% of the time.
Looking to downgrade to Chase freedom unlimited just to keep access to my ~300k worth of ultimate rewards with no annual fee.
Does this make sense? Or any other suggestions.
I've most most spend away from CSR to amex gold with 4x dining and grocery. I use Amex Bonvoy for most travel as I usually stick to that network. Then use Southwest CC for flights as thats what I'm on 90% of the time.
Looking to downgrade to Chase freedom unlimited just to keep access to my ~300k worth of ultimate rewards with no annual fee.
Does this make sense? Or any other suggestions.
Jun 21, 2019, 10:14 am
#1083
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Jun 21, 2019, 10:35 am
#1085
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Jun 27, 2019, 11:50 am
#1087
Join Date: Sep 2012
Posts: 12
I've got a quick question for the group. I know a lot of people have product changed their CSR or CSP to the FU. What was your experience after the product change? I ask specifically about the earn rate. Did Chase allow you to earn at 3% for the first year and then switch you over to the normal 1.5%, or did you start at the normal 1.5% because you had been a cardholder of some sort for longer than that introductory year? My 48 month waiting period in between Sapphire bonus just ended last month and I'm in the market for a new Sapphire product. I figured I would ask the group to know what to expect if I downgraded to the FU.
Jun 27, 2019, 3:57 pm
#1088
Join Date: Mar 2013
Location: Chicago, IL
Posts: 422
I've got a quick question for the group. I know a lot of people have product changed their CSR or CSP to the FU. What was your experience after the product change? I ask specifically about the earn rate. Did Chase allow you to earn at 3% for the first year and then switch you over to the normal 1.5%, or did you start at the normal 1.5% because you had been a cardholder of some sort for longer than that introductory year? My 48 month waiting period in between Sapphire bonus just ended last month and I'm in the market for a new Sapphire product. I figured I would ask the group to know what to expect if I downgraded to the FU.
Jun 28, 2019, 10:59 am
#1089
Join Date: Sep 2012
Posts: 12
That's what I thought Chase would do. Thanks.
Jul 8, 2019, 11:53 am
#1090
Join Date: Oct 2017
Location: ORD
Programs: United Platinum, Marriott Titanium, Hilton Diamond, Hertz PC, Avis Preferred Plus
Posts: 79
I checked at a branch today, and unfortunately I'm not eligible for the bonus offer on the United Club for another year. So it looks like they did consider my waived annual fee to be a new account bonus.
Jul 9, 2019, 7:22 pm
#1091
Join Date: Mar 2019
Posts: 44
Can you put personal spend on the business credit card. It would be hard to hit minimum spend without it.
Jul 10, 2019, 2:04 am
#1093
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
Is it still possible to pc a CSP to CSR?
Jul 10, 2019, 4:37 am
#1094
Join Date: Aug 2015
Location: SFO
Programs: AS 75K (OW), SK Silver (*A), UR, MR
Posts: 3,347
Jul 11, 2019, 11:33 am
#1095
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
ok i can do a direct conversion or wait 1 year?