Downgrading CC
 

If I sign up for the Citi Premier card with the 50,000TY bonus points. Can I downgrade it after the first six months or a year to the Preferred (no fee) card without affecting my credit rating?

There should be no problem doing that. Many Chase cards also have different levels of earnings and benefits based on whether or not there is a fee. If you don't use the card enough to justify the annual fee, then it would be a good move to "downgrade" it.

IMHO would be a bad idea. :mad:

Because, it is much better to cancel a card when or before the end of the annual fee waiver for a new account ends rather than trying to keep it open by "downgrading" to a new, fee free, card. If you cancel you can get a new bonus at some point. And, bonuses are what let us fly in F. :D

Plus, it's called a downgrade for a reason. The miles earned are usually half those on the original card per dollar spend.

Cancel card when fee comes due or before and move on to a new card.