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Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel?

Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel?

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Old May 6, 19, 1:21 am   -   Wikipost
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This is the general 2016-2018 thread for weighing the relative merits
of keeping, downgrading, or canceling Chase-issued credit cards.


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 months since the last time you received a bonus before reapplying.

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.

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
  • 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
The Business cards also have a Plus and Premiere version.
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Old Jan 2, 16, 4:23 pm
  #1  
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Join Date: Nov 2011
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Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel?

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.
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Old Jan 2, 16, 4:30 pm
  #2  
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Originally Posted by atomarchio View Post
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.
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Old Jan 2, 16, 4:31 pm
  #3  
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As credit scores are not an UA subject, will move this to an more appropriate forum, Credit Card Programs

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Old Jan 2, 16, 4:32 pm
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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.
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Old Jan 2, 16, 4:32 pm
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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
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Old Jan 2, 16, 5:14 pm
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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.
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Old Jan 2, 16, 5:19 pm
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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?
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Old Jan 2, 16, 6:04 pm
  #8  
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Originally Posted by atomarchio View Post
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.
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Old Jan 2, 16, 6:11 pm
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Originally Posted by Hipplewm View Post
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
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.
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Old Jan 2, 16, 6:16 pm
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Originally Posted by philemer View Post
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.
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Old Jan 2, 16, 6:47 pm
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Originally Posted by krazykanuck View Post
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.
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Old Jan 4, 16, 6:52 am
  #12  
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Originally Posted by krazykanuck View Post
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.
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!
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Old Jan 4, 16, 1:26 pm
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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.
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Old Jan 13, 16, 3:52 pm
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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.

Last edited by McTrips; Jan 14, 16 at 10:51 am Reason: Spelling Error
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Old Jan 13, 16, 3:58 pm
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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.
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