![]() For Chase cards, you must wait 24-48 months since the last time you received a bonus before reapplying. Also, Chase has become very restrictive for new card applicants. This may be the right choice for you, but others want some of the card benefits without having to reapply. Why not just cancel the card and be done with it? This allows you to retain the seasoned account, and the banking relationship that the older card has established with Chase. Keeping the card open, via a product change, keeps the account open. Many people product change to avoid the annual fees on the premium versions of the card. 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, 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. ![]() The benefits offered by a particular card, might suit you better than the card you are holding. What's the main reason people product change (PC)? This is the 2023 thread for weighing the relative merits of keeping, upgrading, downgrading, or canceling Chase-issued credit cards.
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