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Established Member
Posts: 53
Registered: ‎01-06-2013
0

Product Change from Chase Sapphire Preferred

[ Edited ]

Hi

 

I was thinking about applying for the Chase Sapphire Preferred card and using for the first free year which the $95 annual fee gets waived and then PCing to the Chase Freedom or Chase Sapphire no annual fee csrd before the new year. Is that possible and will Chase let me do that? 

Frequent Contributor
Posts: 272
Registered: ‎12-28-2011
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Re: Product Change from Chase Sapphire Preferred

KS13, I recently asked almost the same question and got some helpful feedback from fellow members of myFico community. 

You can look that thread here - http://ficoforums.myfico.com/t5/Credit-Cards/What-can-you-do-with-Amex-Delta-CSP-after-the-1st-year/... 

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colon:smileywink: Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...
Established Member
Posts: 53
Registered: ‎01-06-2013
0

Re: Product Change from Chase Sapphire Preferred

[ Edited ]

I see two different answers. so is it possible to PC over without getting hit with the annual fee or you can do you after you get hit with the annual fee?

Frequent Contributor
Posts: 272
Registered: ‎12-28-2011
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Re: Product Change from Chase Sapphire Preferred


KS13 wrote:

I see two different answers. so is it possible to PC over without getting hit with the annual fee or you can do you after you get hit with the annual fee?


I really don't see the sense of PCing it *after* annual fee hits - especially if the only reason for this PC is to avoid the fee :-)

I would say that YMMV here, but I don't see it as a huge problem - in the worst case scenario you can just cancel the card and apply for a new one. 

This might be even better from sign-up bonus point of view if, e.g. there's $200 bonus for opening Freedom, it might be better to close CSP and apply for Freedom to collect 200 bucks...

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colon:smileywink: Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...
Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Product Change from Chase Sapphire Preferred

Yes some companies allow PCing within the first year of account opening; some companies dont allow untill 13 months so the AF does hit. In most cases its YMMV.

 


$100K in Credit
Last Credit Card App: 11/16/13
Established Member
Posts: 53
Registered: ‎01-06-2013
0

Re: Product Change from Chase Sapphire Preferred

[ Edited ]

mikka1 wrote:

KS13 wrote:

I see two different answers. so is it possible to PC over without getting hit with the annual fee or you can do you after you get hit with the annual fee?


I really don't see the sense of PCing it *after* annual fee hits - especially if the only reason for this PC is to avoid the fee :-)

I would say that YMMV here, but I don't see it as a huge problem - in the worst case scenario you can just cancel the card and apply for a new one. 

This might be even better from sign-up bonus point of view if, e.g. there's $200 bonus for opening Freedom, it might be better to close CSP and apply for Freedom to collect 200 bucks...


Yeah that's what I was trying to say. I want to PC it BEFORE the AF hits :-) 

 

I guess I will apply and see what happens after one year. After all its just $95. They are giving me $400 sign-up bonus :-)

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