cancel
Showing results for 
Search instead for 
Did you mean: 

Can I downgrade my CHASE Sapphire Preferred or close it?

tag
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?


@Anonymous wrote:
If I turn it into slate, would that result in another pull?

Should just be a soft pull. 

Message 11 of 17
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?

So I had a thought the other day in regards to closing or PC a CSP after getting the CSR. I was planning on moving all of my credit from the CSP to the CSR and then immediately close the CSP. I then realised that I still have plane tickets and a car rental under the CSP for a trip that I haven't taken yet. Now if I close or product chase the card I assume I'd loose all of the travel protections that the CSP offered when I booked. So to play it safe, I'm going to wait until my travel is complete before moving the credit an closing the card.

 

Just though I'd put this out there and see what other people think, and maybe as a bit warning to others in the same situation before they made their decision on what to do.

Message 12 of 17
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?

I would just move all the limit over and close it. I'd hate to have the Slate card just laying around if I have zero intentions of using it.
Message 13 of 17
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?

Product changing to a second Freedom with a $5,000 limit seems to be the most practical solution.
Message 14 of 17
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?

You can have two freedom cards? How does that work? They just have different account numbers?
Message 15 of 17
Anonymous
Not applicable

Re: Can I downgrade my CHASE Sapphire Preferred or close it?

That's true. That's my situation as well. So I think I'm going to keep CSP for another six months to make sure I use up my plane tickets first. I'm also going to use this time to review if I'm really getting bang for my buck with the CSR. Who knows? I may end up keeping CSP over CSR if I'm not spending in enough to make the annual fee worth my while.
Message 16 of 17
longtimelurker
Epic Contributor

Re: Can I downgrade my CHASE Sapphire Preferred or close it?


@Anonymous wrote:
You can have two freedom cards? How does that work? They just have different account numbers?

Um yes, different cards, different accounts.   Some issuers allow you to apply for multiple copies of the same card, but the more common way is through product change.   Having two copies of a capped card might have some value

Message 17 of 17
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.