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

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

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Old Jun 16, 20, 12:21 am   -   Wikipost
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This is the 2020 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.

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.

="3"%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: $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:

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.

="3"%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.

="3"%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 May 29, 20, 7:16 am
  #76  
 
Join Date: Sep 2011
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Originally Posted by happyvoid View Post
if i cancel a chase ink preferred card can i move the credit line over to freedom before cancelling
In most circumstances, you cannot move credit from a Chase business card to a Chase personal card.
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Old May 31, 20, 1:44 pm
  #77  
 
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Originally Posted by pallhedge View Post
In most circumstances, you cannot move credit from a Chase business card to a Chase personal card.
Since you state “most” can you please give an example of an exception?
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Old Jun 1, 20, 4:47 am
  #78  
 
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Can someone tell me exactly when I can upgrade my CSP to CSR? I just passed the one year mark of having the CSP, but I think the annual fee is due on the 13th statement unless I'm mistaken. Do I have to wait what is essentially one year and one month before calling to upgrade or I can call for an upgrade now? With regards to calling the back of the number on my CSP to get a rep to do an upgrade, what is the process like? Is it nice and quick? I'm assuming Chase can expedite the shipment of the CSR to my house?
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Old Jun 1, 20, 5:27 am
  #79  
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Originally Posted by lsquare View Post
Do I have to wait what is essentially one year and one month before calling to upgrade or I can call for an upgrade now? With regards to calling the back of the number on my CSP to get a rep to do an upgrade, what is the process like? Is it nice and quick? I'm assuming Chase can expedite the shipment of the CSR to my house?
You should be able to call now. It's painless, the longest part will probably be waiting on hold these days. I don't think they expedite the new card, but in practice you don't need it for the card to function as a CSR as far as benefits/earn rates go. Chase PC's are instant, so you can use your existing card as a CSR until the new one arrives.
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Old Jun 1, 20, 5:31 am
  #80  
 
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Originally Posted by krazykanuck View Post
You should be able to call now. It's painless, the longest part will probably be waiting on hold these days. I don't think they expedite the new card, but in practice you don't need it for the card to function as a CSR as far as benefits/earn rates go. Chase PC's are instant, so you can use your existing card as a CSR until the new one arrives.
Oh wait, just to make sure that I'm on the same page as you, once I do the upgrade over the phone, my CSP card will function as a CSR? Will I need to activate the CSR when it arrives in the mail? I'm guessing no since I retain my current account number?
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Old Jun 1, 20, 6:55 am
  #81  
 
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Originally Posted by Magic Pickles View Post
Since you state “most” can you please give an example of an exception?
I haven't seen enough data points to discern a pattern other than that it involves escalation from a front line rep to a manager for approval.

Originally Posted by lsquare View Post
Oh wait, just to make sure that I'm on the same page as you, once I do the upgrade over the phone, my CSP card will function as a CSR? Will I need to activate the CSR when it arrives in the mail? I'm guessing no since I retain my current account number?
Your physical CSP card will function as a CSR and will continue to do so even after your physical CSR card arrives via snail mail. You'll effectively have 2 cards with the same number, but different CVV codes and expiration dates.
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Old Jun 1, 20, 7:20 am
  #82  
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Originally Posted by lsquare View Post
Oh wait, just to make sure that I'm on the same page as you, once I do the upgrade over the phone, my CSP card will function as a CSR? Will I need to activate the CSR when it arrives in the mail? I'm guessing no since I retain my current account number?
You'll need to activate and start using the new card at some point because the old card, your CSP in this case, will eventually be deactivated. That happened to me a couple years ago when I was lazy and never bothered to swap out the new card for the old one.
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Old Jun 1, 20, 7:49 am
  #83  
 
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Originally Posted by pallhedge View Post
I haven't seen enough data points to discern a pattern other than that it involves escalation from a front line rep to a manager for approval.

Your physical CSP card will function as a CSR and will continue to do so even after your physical CSR card arrives via snail mail. You'll effectively have 2 cards with the same number, but different CVV codes and expiration dates.
Originally Posted by krazykanuck View Post
You'll need to activate and start using the new card at some point because the old card, your CSP in this case, will eventually be deactivated. That happened to me a couple years ago when I was lazy and never bothered to swap out the new card for the old one.
Thx guys!
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Old Jun 2, 20, 8:05 am
  #84  
 
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Originally Posted by krazykanuck View Post
You'll need to activate and start using the new card at some point because the old card, your CSP in this case, will eventually be deactivated. That happened to me a couple years ago when I was lazy and never bothered to swap out the new card for the old one.
Originally Posted by pallhedge View Post
I haven't seen enough data points to discern a pattern other than that it involves escalation from a front line rep to a manager for approval.

Your physical CSP card will function as a CSR and will continue to do so even after your physical CSR card arrives via snail mail. You'll effectively have 2 cards with the same number, but different CVV codes and expiration dates.
Just want to give you guys an update. So I called Chase and did the product change. It was as painless as you guys had indicated. No manager approval was required. My account is showing the change already. Now I need to figure out how to activate Door Dash, Lyft, and Priority Pass. My CSP AF posted yesterday, but it'll be refunded within 1-2 statement cycle. I'll see the CSR AF posted probably by the start of my next statement cycle. Really excited about my CSR!!!

Thx again guys for the help!
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Old Jun 2, 20, 2:37 pm
  #85  
 
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Originally Posted by lsquare View Post
...I'll see the CSR AF posted probably by the start of my next statement cycle...
Don't be surprised if you don't see the AF post for a good 4-6 months.
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Old Jun 2, 20, 6:13 pm
  #86  
 
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Originally Posted by pallhedge View Post
Don't be surprised if you don't see the AF post for a good 4-6 months.
Oh? Maybe that's a good thing?
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Old Jun 3, 20, 5:57 am
  #87  
 
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Originally Posted by lsquare View Post
Oh? Maybe that's a good thing?
I think it's a good thing.
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Old Jun 7, 20, 11:57 am
  #88  
 
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Hey all,
My wife opened a CSP card last year in Dec. She already got the bonus points. Now she wants to close card since she's having covid 19 anxiety. I can't thru her now. My question is if she does close it, will the UR points get clawed back like Amex? She has an older Chase freedom card that's like 10 years old. Should I convince her to downgrade instead of cancelling? 🤷🏻‍♂️
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Old Jun 7, 20, 2:01 pm
  #89  
 
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Originally Posted by trikotret View Post
Hey all,
My wife opened a CSP card last year in Dec. She already got the bonus points. Now she wants to close card since she's having covid 19 anxiety. I can't thru her now. My question is if she does close it, will the UR points get clawed back like Amex? She has an older Chase freedom card that's like 10 years old. Should I convince her to downgrade instead of cancelling? 🤷🏻‍♂️
Downgrade would be preferable, though it's not a certainty that Chase will allow her to product change within the first year. (If she were trying to upgrade the card to a CSR, she'd be denied.)

I have seen zero reports of Chase clawing back SUB points. However, closing the card just a couple of months after receiving the SUB may reflect negatively if she ever tries to open another Chase card.

She's already paid the annual fee so simply keeping the CSP until December and then cancelling incurs no additional cost. If she's really that paranoid, she could lower the credit limit to $500 until she closes it.
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Old Jun 8, 20, 1:32 am
  #90  
 
Join Date: Apr 2013
Posts: 55
I have a question regarding "anniversary year" after product change:

My Ink Unlimited was opened in July 2018 and got converted to Ink Cash in January 2020. Now for the $25k limit on Ink Cash bonus rewards, does the anniversary year reset around January or around July?
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