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FlyerTalk Forums Expert How-Tos and Guides
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. 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
Business Cards
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.
Southwest Airlines Cards The difference here is a nominal $30/3000 points per year. Personal cards
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