Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel? (2016-2019)
 

I originally signed up for the United mileage card through Chase a few years ago.

However, I am not using it enough and don't want to pay the $95 fee again.

United no longer a hub in Cleveland so we don't see the benefit any longer.

I am thinking of going with Southwest because we would probably get more use out of the card.

Will it hurt my credit score significantly if I decide to cancel?

Please let me know. Thanks.

This isn't really UA related but the hit will depend on your total credit utilization. If with the card you are using 25% of your available credit and cancel it goes to 40% of your available credit is used then yes, you would take a big hit. But if you go from 3%used to 5% used, not much of a hit. Way too many factors involved in a complete credit score to give a definitive answer. And applying for a new card with Southwest will also put a hit on your credit score.

As credit scores are not an UA subject, will move this to an more appropriate forum, Credit Card Programs

WineCountryUA
UA coModerator

There's too many factors to consider regarding credit scores to know if it'll hurt your score or not. However, assuming it's not the only credit card you have, and you have decent credit already, it shouldn't matter much, and any dip in your credit score should be cancelled out in a few months after you get your SW card.

Call Chase and ask to swap your United Card to SW

They didn't even put a hard hit on my credit report and if you have a balance, they can probably swap that over as well

I did the same thing in reverse, swapped my old SW card to a IHG rewards card

Question on cancelling United Credit card through chase?
 

Do you get the signup bonus for switching vs new account?

I'd open new card and get bonus before cancelling United card.

So if I open a new account with Southwest for the same credit line I should be Okay right?

I'd probably prefer that over just telling Chase to switch from United to SW so I could get the SW bonus miles, is that correct?

From a bonus perspective, that's the better approach. From a credit perspective, it's not necessarily the best approach.

You need to explain your credit history and how this UA card relates to it. If your UA card was very first credit card ever, the answer is completely different than if it was the 20th credit card in your lifetime!

Meanwhile, you can't choose the credit line for a new card. The amount of credit line is assigned the bank. And unless you have other Chase cards or a Chase bank account, it would be better to apply the new card before you cancel the card, to have at least through overlap a continuous history with Chase. But in any case, you may get a different credit limit on the second card, no matter what order or timing you do this in. The only way to be certain you have the same exact credit limit is to give up on the bonus and do the card conversion instead of applying for a new card. The second best way is actually to reduce the credit limit on your existing UA card at least several weeks before you apply for the Southwest card. (It can take weeks for credit limit removed from one card to be available for a new card.)

You need to prioritize these things:

• credit score
• new card signup bonus
• credit limit

because you may be reducing one by maximizing another one.

You miss out on the 50K pt sign up offer though.

I would cancel UA card and then apply for the SWA card. Paying a $95 fee, each year, to keep a card open doesn't sound profitable to me.

The OP can downgrade the UA Explorer card to the no annual fee UA card to keep the account open, and then apply separately for a Southwest card and get the bonus.

Under the circumstances that is probably the best thing to do IMHO - I was going to suggest doing just that.

I was able to downgrade the card to no annual fee. They are sending me a new card within 3 to 5 business days as it's a VISA and the one I have now is MC.

They said nothing else with change though. Hopefully, they are right.

Once I get the no annual fee card, I then plan to open up a SW card.

Thanks for the help!

reapply for bonus: Chase United
 

I had applied for the Chase United Explorer 55k bonus in Q3 2013.
Qualified & received the bonus in Q4 2013.
Downgraded to the no fee version in Q2 2015.

Now, can I reapply for the same card to get the bonus? Should I cancel the no fee version or leave it open? Please advise.

Chase - Card Conversion, Downgrades, Keep or Cancel? (2016)
 

Does anyone know if the Chase Freedom can be converted up to a different card? I already have the CSP, but would like to get another high end card such as the Chase Hyatt.

Call and ask. My guess is that it will not be allowable as co-branded cards are not able to be downgraded to a Chase card.