topic Re: Anyone convert Chase Saphire Preferred to Reserve? in Credit Cards

Anyone convert Chase Saphire Preferred to Reserve?

Anonymous — Wed, 11 Jul 2018 18:27:11 GMT

I made a bad decision and choose preferred over Reserve for my chase card 9 months ago. I have the 50k in rewards, and really am wishing to convert it to a reserve. Is this possible? Would rewards balancce transfer? I have a chase freedom as well, can I keep rewards with that card and upgrade?

Re: Anyone convert Chase Saphire Preferred to Reserve?

FinStar — Wed, 11 Jul 2018 19:03:36 GMT

What is the current limit on the CSP? Was the AF waived for the first year when you applied or have you already paid the AF?

Re: Anyone convert Chase Saphire Preferred to Reserve?

Anonymous — Wed, 11 Jul 2018 19:06:27 GMT

AF was wavied, have not paid the AF yet. Limit is 27k

Re: Anyone convert Chase Saphire Preferred to Reserve?

FinStar — Wed, 11 Jul 2018 19:17:31 GMT

Typically, some PCs may require that the account is open for at least 12 months. However, you can contact them to see whether your CSP may be eligible to PC to CSR at this point.

Your UR points should be fine since they're already linked to the UR program.

Re: Anyone convert Chase Saphire Preferred to Reserve?

K-in-Boston — Wed, 11 Jul 2018 19:29:10 GMT

If the card is only 9 months old, you'll need to wait until it has been open for a year before changing to a higher annual fee card as the CARD Act prevents card issuers from increasing your annual fee during the first year. I'm upgrading mine in a few months as well.

Re: Anyone convert Chase Saphire Preferred to Reserve?

CreditCuriosity — Wed, 11 Jul 2018 19:53:11 GMT

Ive done the conversion and was painless, but mine was 3 years old plus at the time

Re: Anyone convert Chase Saphire Preferred to Reserve?

wasCB14 — Wed, 11 Jul 2018 22:04:33 GMT

CSP isn't so much worse than CSR. Maybe keep it another 15 months, then PC to CFU? A few weeks or months after that (allowing some wiggle room for records to update and for how long it took your CSP 50k to post) you can then apply for CSR and get a fresh 50k bonus.

Or, I suppose, you could PC to CSR in 3 months if you really want the improved earn rate and protections...then go from the CSR to CFU later if you want a CSR bonus.

Re: Anyone convert Chase Saphire Preferred to Reserve?

Schwartzinator — Wed, 11 Jul 2018 22:17:15 GMT

This right here.

@K-in-Boston wrote:
If the card is only 9 months old, you'll need to wait until it has been open for a year before changing to a higher annual fee card as the CARD Act prevents card issuers from increasing your annual fee during the first year. I'm upgrading mine in a few months as well.

I was able to change my CSP to the CSR after 1 year and 1 day had passed without a problem. Points transferred over as excpected!

Re: Anyone convert Chase Saphire Preferred to Reserve?

Anonymous — Wed, 11 Jul 2018 23:06:21 GMT

So they just told me that I can convert my Saphire card to a Chase Freedom Card, and existing Chase Freedom card to a Saphire Reserve. Would you guys do this? My limit is only 2000 on Chase freedom card.

Re: Anyone convert Chase Saphire Preferred to Reserve?

Schwartzinator — Thu, 12 Jul 2018 00:21:34 GMT

Last I checked, the Reserve had a minimum 10k credit line to open.

Re: Anyone convert Chase Saphire Preferred to Reserve?

Anonymous — Thu, 12 Jul 2018 00:26:31 GMT

Just got off the phone, customer service was awesom. They were able to transfer my credit limit from Preferred to Freedom, then product change from Freedom to reserve. He then did a product change from Preferred to regular Saphire with no Anual fee (didn't even know such a card exists). Fro some reason, they couldn't change it to a freedom card, I figure at a later date I can do this. All I can say is wow, and he took care of it in under 5 minutes.

Re: Anyone convert Chase Saphire Preferred to Reserve?

Anonymous — Thu, 12 Jul 2018 04:10:41 GMT

Awesome, thanks for the followup @dmb1

I am considering upgrading my CSP to CSR, but it is only 7 months old. I've got a Freedom and FU that are both >1 year, so great to know a rep might be able to do some roundabout PCing to get me there! Hoping I don't have to give up my Freedom though, as that is my bread winner at 5% (6.25% with my CSP when redeeming for travel, or 7.5% if I can get the CSR), and can volunteer my FU as tribute.

Re: Anyone convert Chase Saphire Preferred to Reserve?

Skymogul — Thu, 12 Jul 2018 05:27:39 GMT

@Schwartzinator wrote:
Last I checked, the Reserve had a minimum 10k credit line to open.

Yep. It's a Visa Infinite, which all have a $10K minimum SL. Signature is $5K.