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Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel? 2020 - 2022

Chase Product Change/Card Conversion: Downgrade, Upgrade, Keep or Cancel? 2020 - 2022

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Old Sep 2, 22, 1:31 am   -   Wikipost
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This is the 2020-2022 thread for weighing the relative merits
of keeping, downgrading, or canceling Chase-issued credit cards.


Discussion from 2016 to 2019 can be found in this closed 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.

If you downgrade a card to a lower- or no-fee alternative, you can always upgrade back to the original card type (paying the AF, of course) if you want to have the additional benefits again. Doing so does not have any effect on your */24 count; OTOH, applying for the card anew will increase your */24 count (always for personal cards & sometimes even for business cards).

Another reason to downgrade a card, if such an option exists, instead of canceling is that youll receive a pro rata refund of the AF no matter when you do it (vs. having only 30 days from the date of the statement with AF on it to get a refund if you cancel outright). This can be extremely useful if you need to use a premium cards benefitfree checked bag, car rental insurance, PreCheck rebate, etc. etc.more than 30 days after your AF statement. Simply keep the card until youve used the relevant benefit & then downgrade; youll get a proportional refund of the AF no matter how long this take place after your AF is billed.

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 "opened on" date, credit line, automatic payment arrangements, etc. A product change does not count against Chase's 5/24 limitations on new cards.

Note: you will also keep your same account number except where the change is from a Visa to MC or vice versa (e.g., Sapphire Preferred to Freedom Flex) but even in this limited case, the new card will inherit all the old cards attributes on your credit report.

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: 3X on dining, 3x on drugstores, 1.5X for all other spending, no quarterly bonus categories. $20,000 in spend would net 30,000 UR per year.
  • Freedom Flex: 5X points in rotating quarterly categories (same ones as for Freedom) up to $1500 spend per quarter, 3X on drugstores, 1x all other spend.
  • Sapphire Reserve: $550 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 UR cards
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 Club Infinite Card- $525 annual fee, 4 miles per $1 travel, 2 miles per $1 dining
  • Business Cards for the Mileage Plus and Club Card give you a choice to upgrade or downgrade between those two.
Product Changes for IHG Cards

There are three different IHG cards in the Chase portfolio:
  • IHG Select: No longer available for new signups. For a $49 annual fee, cardholders get a free-night certificate (up to 40K points) every anniversary; a 10% rebate on award redemptions; and Platinum status. The consensus view on FT is that the low fee and automatic rebate on this make a product change undesirable.
  • IHG Premier: $89 annual fee after the first year. Benefits include 40K anniversary free-night cert; Platinum status; Fourth Night Free on awards; and rebate on Global Entry ($100) or TSA PreCheck ($85) application/renewal fees.
  • IHG Traveler: Gold status and Fourth Night Free benefit; no free-night cert.
    • As of June 2021, downgrades to the Traveler card incur a $29 annual fee even though the current Traveler sign-up offer is for a no-fee card.

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 Dec 23, 21, 11:25 am
  #646  
 
Join Date: Oct 2012
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Originally Posted by RNE View Post
I, too, would wait for 80k, which probably means waiting longer than 30 days. Just guessing.


Yes, but don't expect Chase to extend a 24k CL on your CSP.
I don't really need a $24k credit limit on my CSP. If I'm making a BIG purchase...a watch or something spendy that I'm worried about going over my CL, I use my AmEx Platinum.

I think the most I ever had on my CSR at any given time was $14K or so for flights and hotel rooms.

I just can't believe a $95 AF card is going to give a 10% UR points rebate while a $550 AF card gives nothing.
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Old Dec 23, 21, 4:27 pm
  #647  
 
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Originally Posted by mia View Post
If Chris2013 applies too soon after cancelling, the application will be rejected because Chase's system still sees a live Sapphire account. Reportedly this drops off after about 30 days. It would drop off sooner in the card had been downgraded rather than closed.
I considered that, but holding one doesnt prevent approval of an application for the other, does it? It would obviously be an issue if @Chris2013 were canceling a CSP & then applying for the same card.
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Old Dec 23, 21, 4:51 pm
  #648  
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Originally Posted by beltway View Post
I considered that, but holding one doesnt prevent approval of an application for the other, does it?
You won't be approved for any flavor of Sapphire card if you have another one that is active or hasn't cleared out of the system yet.
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Old Dec 23, 21, 4:55 pm
  #649  
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Originally Posted by beltway View Post
I considered that, but holding one doesnt prevent approval of an application for the other, does it? It would obviously be an issue if @Chris2013 were canceling a CSP & then applying for the same card.
Originally Posted by Zorak View Post
You won't be approved for any flavor of Sapphire card if you have another one that is active or hasn't cleared out of the system yet.
That's what I read as well.
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Old Dec 23, 21, 10:38 pm
  #650  
mia
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Originally Posted by beltway View Post
I considered that, but holding one doesnt prevent approval of an application for the other, does it? .....
Yes, this is in the Sapphire Preferred application terms:

This product is available to you if you do not have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 48 months.
beltway and levilevi like this.
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Old Jan 1, 22, 4:05 pm
  #651  
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downgrade SR to F with credit on account

I had already planned to downgrade my SR at the end of an ongoing trip. (I was holding it for the trip interruption insurance.) Due to a family medical situation, the trip was terminated early. I was able to cancel prepaid reservations and get refunds, and now I have a credit on the card. My question is about the 3x points for travel charges.

Chase has not reduced my UR point balance as a result of the credits--at least, not yet. If I do ask for a PC, how are the credits handled? For example, if I have $1000 in credits and I PC to Freedom, what happens when I make charges totaling $1000? For a Freedom card, I would only charge in a bonus category. Do I get 5000 points (normal for bonus category spend), 2000 points (the difference between 5x for Freedom bonus category and 3x for SR travel category) or nothing (the $1000 purchase balances the $1000 credit)? Thanks for enlightenment.
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Old Jan 1, 22, 6:53 pm
  #652  
mia
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Originally Posted by serpens View Post
....
Chase has not reduced my UR point balance as a result of the credits....
You won't see the points adjustment until the statement is generated.
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Old Jan 1, 22, 10:23 pm
  #653  
 
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I have the CSR, CF and CFU and thinking of getting the Venture X
Can I:
  1. ​​​​​Transfer my points from CSR to CF/CFU (or just redeem them all)
  2. Cancel the CSR or drop down the to CSP
  3. Save up my UR
  4. Signup for CSR again in the future to redeem them all with the 50% bonus (assuming that still exists)
I think I will just do the minimum spend ~$400 to justify the annual fee on the venture X to get my PP, then do the rest of my spending on chase and costco
My CSR doesnt renew til August but I don't know how long the bonus will be around for

Last edited by eng3; Jan 2, 22 at 9:28 am
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Old Jan 2, 22, 9:37 am
  #654  
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Originally Posted by mia View Post
You won't see the points adjustment until the statement is generated.
Thanks, mia. To be sure I understand, are you saying that I will see a drop in my points balance on the next statement?
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Old Jan 2, 22, 10:01 am
  #655  
mia
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Originally Posted by serpens View Post
Thanks, mia. To be sure I understand, are you saying that I will see a drop in my points balance on the next statement?
If your statement balance is negative your UR points balance for that card will be reduced.
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Old Jan 2, 22, 11:23 am
  #656  
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Originally Posted by mia View Post
If your statement balance is negative your UR points balance for that card will be reduced.
Thanks, mia. That's fair, but I was hoping I had found a loophole. It sounds like the only loophole would be to transfer all the points to another card and then close, rather than PC, the SR. Of course, that would mean forfeiting the rest of the annual fee, which would be pro-rata refunded if I would PC to Freedom. Do I understand all that?
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Old Jan 2, 22, 10:02 pm
  #657  
 
Join Date: Mar 2020
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Just got the AF for my CSR. Going to transfer my points to my wife who has CSP. Before asking for retention offer and possibly downgrading to Freedom card, do I use the annual $300 credit? If that is ok, will it be an issue with Chase down the lane?
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Old Jan 3, 22, 10:02 am
  #658  
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Originally Posted by suryakumar View Post
Just got the AF for my CSR. Going to transfer my points to my wife who has CSP. Before asking for retention offer and possibly downgrading to Freedom card, do I use the annual $300 credit? If that is ok, will it be an issue with Chase down the lane?
It's done often and there are no reports of Chase getting bent out of shape over the $300 credit.
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Old Jan 3, 22, 3:54 pm
  #659  
 
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Originally Posted by RNE View Post
It's done often and there are no reports of Chase getting bent out of shape over the $300 credit.
I just came in to ask this same question. My annual fee won't be due until Feb., but I already have a charge that's showing as a travel credit. I wish I had more things I could use it on this month!
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Old Jan 4, 22, 11:29 am
  #660  
 
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Originally Posted by hotturnip View Post
I just came in to ask this same question. My annual fee won't be due until Feb., but I already have a charge that's showing as a travel credit. I wish I had more things I could use it on this month!
When all else fails I just prepay my toll bills several months.
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