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Banks get upset when you PC out of AF?

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Contributor

Banks get upset when you PC out of AF?

How badly is the relationship compromised between you and the issuer when, after the 11th month, you PC to a card of a lower tier from the one you apped for (so you could get the introductory sign-up bonus without getting stuck with the AF)? In particular I'm curious about Chase, Citibank, US Bank, and Barclays. Will any of them backlash by closing an account or CLDing or something? Seems like it could be frowned upon... but then again, maybe it's inconsequential. Any idea?

I got some cards with some credit limits. Some are better than others.
Message 1 of 22
21 REPLIES
Mega Contributor

Re: Banks get upset when you PC out of AF?

It is definitely frowned upon, but I do not think it would be something they would do AA on unless you constantly repeating this practice.



EQ FICO 548 3/3/16
Message 2 of 22
Valued Member

Re: Banks get upset when you PC out of AF?

It's a really bad idea.

 

They have no interest whatsover about building a relationship with you, they want your money now!

 

They see every trick in the book on a daily basis, you'll be thrown out with the trash.

Walmart TU Score 740
Chase Freedom($5000); CitiThankYou Preferred($5000); GEWM Discover($3500); Walmart Store($1300); AMEX Gold; AMEX BCE($6000); GE Discount Tire($1500); Mor Furniture ($4700);Cap1($750)
Message 3 of 22
Contributor

Re: Banks get upset when you PC out of AF?


GangnamFICO wrote:

It's a really bad idea.

 

They have no interest whatsover about building a relationship with you, they want your money now!

 

They see every trick in the book on a daily basis, you'll be thrown out with the trash.


Well, the idea...

 

About a year or so from now, if the cards are still available with the offers they have now, or something comparable, I would like to apply for...

 

Arrival World MasterCard (Barclays)

Chase Sapphire Preferred

US Bank FlexPerks Travel Rewards

 

...not necessarily all at the same time, but before the year mark I'd like to PC em to the non-AF versions (if you will) of the cards. This way I can maximize the sign-up bonuses without getting stuck paying em back over time.

 

Bad move????

I got some cards with some credit limits. Some are better than others.
Message 4 of 22
Valued Member

Re: Banks get upset when you PC out of AF?

You want someone to tell you "go for it"?

 

Go for it.

Walmart TU Score 740
Chase Freedom($5000); CitiThankYou Preferred($5000); GEWM Discover($3500); Walmart Store($1300); AMEX Gold; AMEX BCE($6000); GE Discount Tire($1500); Mor Furniture ($4700);Cap1($750)
Message 5 of 22
Super Contributor

Re: Banks get upset when you PC out of AF?

if you do it once or twice with a lender, you probably will get away with it without anything happening to you. If this is your 1st or 2nd time doing it in the past decade, go ahead. you will be fine.

 

If this becomes a pattern though, then you'll get into trouble. 

In really extreme scenarios they'll even close all your accounts and blacklist you. However for this extreme scenario to happen, it will take quite a bit of abusing on your end to make it happen.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 6 of 22
Valued Contributor

Re: Banks get upset when you PC out of AF?

If it helps, I plan on doing the same thing with the Arrival World MasterCard. And with that card, the no AF version is basically useless when compared to many other cards out there, so who cares if they get mad and throw you out?

But I doubt it would happen. They offer both cards, you tried one and now you think you prefer the other. If they didn't want you to have a no AF card, they wouldn't offer it. Believe me, banks make money one way or another, the AF has very little bearing on that.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 7 of 22
Senior Contributor

Re: Banks get upset when you PC out of AF?

Worry about you, not them.

 

I only have one AF card and it's worth it. If things change, I'll downgrade or cancel their product.


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Message 8 of 22
Valued Contributor

Re: Banks get upset when you PC out of AF?


drkaje wrote:

Worry about you, not them.

 

I only have one AF card and it's worth it. If things change, I'll downgrade or cancel their product.


I couldnt' agree more. I would find it ridiculous if any lender took adverse action against such a thing. Sign up bonuses and cancelling, yes, but not just downgrading from an annual fee card.

Message 9 of 22
Valued Contributor

Re: Banks get upset when you PC out of AF?

 Banks aren't just the 10-12 faces you see in the branch, there are analsyts that do nothing but plan cards and features, that basicly want to sell you the card you like so you will pay the fee and keep you as a customer or gain your business They care about you keeping the cards and being happy but they have no power over your CL,  APR, future approvals or anything else about your card. Those are all handled by the underwriters that only see you as a credit report and numbers on a form untill you call them, they can care less about your AF, or the type of card you have it efffects there job very little it may contribute factors like what your initial CL is and what is the max CL can be, but the rest is just numbers on a page. Whether you have a CSP or plain Saphire doesn't change there job all that much.

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 10 of 22