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Downgraded CSP to Sapphire Card

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CollegeStudent530
Regular Contributor

Downgraded CSP to Sapphire Card

Successfully downgraded my Chase Sapphire Preferred to a regular Chase Sapphire card. After taking advantage of the 1:1 airline transfers, no first year annual fee, and sign up bonus, I decided to retire the card since I won't spend enough to justify the annual fee. Plus, my significant other has one! 

 

Instead of cancelling the card, I downgraded by calling Chase. It was a seemingly process and I just received my Chase Sapphire Card with EMV and Visa Signature. Easy. Called right before my annual fee was about to kick in.  Does anyone know when I can apply for the CSP again? 

Message 1 of 9
8 REPLIES 8
LexieCat
Regular Contributor

Re: Downgraded CSP to Sapphire Card

I was just at the site, apparently two years to reapply and get the bonus.

 

I got a pre-approval offer, but considering the fact that I just got an Arrival+ and took advantage of a BT offer, I think I will wait a few months before applying.  I have an awesome vacation booked for next fall, so maybe I'll do it shortly before I go.  

Chase Sapphire Preferred $32k; CapitalOne Venture $30k; Chase Slate $30k; Barclaycard Arrival Plus $25k; Wells Fargo Visa $25k; Amex EveryDay $25k; Barclaycard Ring $15.5k; Lowes $10k; Barclaycard Apple Financing $9.5k; Best Buy $7k; Chase Amazon Rewards Visa $6.5k; misc. store cards

EQ 822; TU 820; EX 819
Message 2 of 9
Anonymous
Not applicable

Re: Downgraded CSP to Sapphire Card


@CollegeStudent530 wrote:

Successfully downgraded my Chase Sapphire Preferred to a regular Chase Sapphire card. After taking advantage of the 1:1 airline transfers, no first year annual fee, and sign up bonus, I decided to retire the card since I won't spend enough to justify the annual fee. Plus, my significant other has one! 

 

Instead of cancelling the card, I downgraded by calling Chase. It was a seemingly process and I just received my Chase Sapphire Card with EMV and Visa Signature. Easy. Called right before my annual fee was about to kick in.  Does anyone know when I can apply for the CSP again? 


Good news here in case they ever raise the AF past $95. Smiley Very Happy

Message 3 of 9
ztnjpv
Established Contributor

Re: Downgraded CSP to Sapphire Card

Bravo! I'll be likely doing the same thing in about 11 months. Just got the card myself. Not sure yet whether I'll close it or downgrade it. It's just a shame that Chase doesn't give the card some feature or earning category to make the card more worth keeping if you aren't a frequent traveler. 

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 4 of 9
ddemari
Super Contributor

Re: Downgraded CSP to Sapphire Card

Im hoping i get a regular sapphire with emv. Thanks for sharing.
Message 5 of 9
mongstradamus
Super Contributor

Re: Downgraded CSP to Sapphire Card


@CollegeStudent530 wrote:

Successfully downgraded my Chase Sapphire Preferred to a regular Chase Sapphire card. After taking advantage of the 1:1 airline transfers, no first year annual fee, and sign up bonus, I decided to retire the card since I won't spend enough to justify the annual fee. Plus, my significant other has one! 

 

Instead of cancelling the card, I downgraded by calling Chase. It was a seemingly process and I just received my Chase Sapphire Card with EMV and Visa Signature. Easy. Called right before my annual fee was about to kick in.  Does anyone know when I can apply for the CSP again? 


I think its usually 24 months from when you were approved, but i am not 100 % sure on that. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 6 of 9
longtimelurker
Epic Contributor

Re: Downgraded CSP to Sapphire Card


@ztnjpv wrote:

Bravo! I'll be likely doing the same thing in about 11 months. Just got the card myself. Not sure yet whether I'll close it or downgrade it. It's just a shame that Chase doesn't give the card some feature or earning category to make the card more worth keeping if you aren't a frequent traveler. 


But it IS meant for the frequent traveler, that is the intended niche!  

Message 7 of 9
nmac
Regular Contributor

Re: Downgraded CSP to Sapphire Card

 

@CollegeStudent530 wrote:

Successfully downgraded my Chase Sapphire Preferred to a regular Chase Sapphire card. After taking advantage of the 1:1 airline transfers, no first year annual fee, and sign up bonus, I decided to retire the card since I won't spend enough to justify the annual fee. Plus, my significant other has one! 

 

Instead of cancelling the card, I downgraded by calling Chase. It was a seemingly process and I just received my Chase Sapphire Card with EMV and Visa Signature. Easy. Called right before my annual fee was about to kick in.  Does anyone know when I can apply for the CSP again? 


You would be able to apply and likely be approved today for a new CSP. However you won’t be able to get the new member bonus and the annual fee likely won’t be waved. The question you should be asking is when you can get the new member bonus offer again? After 2 years from when the new account bonus has been awarded you are eligible to get receive it again. The tricky part is that keeping track of these dates is on you. If you jump the gun too early chase will open the card but will never award the bonus. While you wait chase has plenty of cards with great bonuses. Also don’t forget to check out the arrival+ and venture card both of which are offering $400 bonuses.  

Quick Silver 2k - Discover 4.3K - Chase Freedom 7.6K - Venture 13K
Citi Double Cash 3.5K - Amex SPG 5K - CSP 5K - Arrival+ 3K
SW Premiere 5K - Citi TY Premiere 3.7K - FNBO Sun Country 3.6K
BOA Cash Rewards 5K - DCU Platinum 10K - Spirit 5K
Message 8 of 9
Anonymous
Not applicable

Re: Downgraded CSP to Sapphire Card


@nmac wrote:

 

@CollegeStudent530 wrote:

Successfully downgraded my Chase Sapphire Preferred to a regular Chase Sapphire card. After taking advantage of the 1:1 airline transfers, no first year annual fee, and sign up bonus, I decided to retire the card since I won't spend enough to justify the annual fee. Plus, my significant other has one! 

 

Instead of cancelling the card, I downgraded by calling Chase. It was a seemingly process and I just received my Chase Sapphire Card with EMV and Visa Signature. Easy. Called right before my annual fee was about to kick in.  Does anyone know when I can apply for the CSP again? 


You would be able to apply and likely be approved today for a new CSP. However you won’t be able to get the new member bonus and the annual fee likely won’t be waved. The question you should be asking is when you can get the new member bonus offer again? After 2 years from when the new account bonus has been awarded you are eligible to get receive it again. The tricky part is that keeping track of these dates is on you. If you jump the gun too early chase will open the card but will never award the bonus. While you wait chase has plenty of cards with great bonuses. Also don’t forget to check out the arrival+ and venture card both of which are offering $400 bonuses.  


You can receive the bonus 24mos after you last received it.

 

Say you apped a CSP and got approved May 2013, got the bonus July 2013, downgraded to CS in May 2014. You could apply for a CSP again and receive bonus as soon as July 2015.

Message 9 of 9
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