topic Re: Downgrade Chase Sapphire Reserve questions in Credit Cards

Downgrade Chase Sapphire Reserve questions

toothgrind3r — Sun, 07 Feb 2021 05:25:50 GMT

So my wife's Reserve AF just hit, which made her rethink if having the card any longer was still worth it. So I have two questions:

1. Is she downgraded ASAP, would she be able to not pay that AF? I know I've gotta away with that before (can't remember what card/bank), but is that common? Or is she "stuck" with the card another year?

2. If she does downgrade, what are her best options to keep collecting UR points? I have a Reserve (that I'm keeping) and an Unlimited that she is also an AU on. Can't go to the Flex cuz it's an MC right? Another Unlimited?

Bonus question:
She should transfer her points to me to keep them at the higher redemption value with my Reserve, right?

Re: Downgrade Chase Sapphire Reserve questions

K-in-Boston — Sun, 07 Feb 2021 07:27:57 GMT

1.) There should be a prorated refund of the AF. Chase is charging the AFs quite a bit later than the actual anniversary date.

2.) Freedom, Freedom Flex, Freedom Unlimited, Sapphire Preferred, or Sapphire are all options to keep the URs. Flex being a MasterCard has no bearing on the rewards.

Bonus: If she is not planning to downgrade to CSP and plans to move points to a travel partner or if the points will be redeemed through the Chase Travel Portal, then yes transferring the points to your Reserve would be the best plan. As long as you share an address, that is a very easy and instant process. (It's in the Combine Points tab, same as where you would move from Freedom to CSR for example.)

Re: Downgrade Chase Sapphire Reserve questions

toothgrind3r — Sun, 07 Feb 2021 14:49:56 GMT

@K-in-Boston wrote:
1.) There should be a prorated refund of the AF. Chase is charging the AFs quite a bit later than the actual anniversary date.

2.) Freedom, Freedom Flex, Freedom Unlimited, Sapphire Preferred, or Sapphire are all options to keep the URs. Flex being a MasterCard has no bearing on the rewards.

Bonus: If she is not planning to downgrade to CSP and plans to move points to a travel partner or if the points will be redeemed through the Chase Travel Portal, then yes transferring the points to your Reserve would be the best plan. As long as you share an address, that is a very easy and instant process. (It's in the Combine Points tab, same as where you would move from Freedom to CSR for example.)

Thanks so much for the reply, that helps.

re: the MasterCard thing...a small part of my thought you might not be able to PC from a Visa product to a MasterCard product. That's not the case than?

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Sun, 07 Feb 2021 17:55:51 GMT

@toothgrind3r wrote:

Thanks so much for the reply, that helps.
re: the MasterCard thing...a small part of my thought you might not be able to PC from a Visa product to a MasterCard product. That's not the case than?

I think there have been times where some issuers have had that as a restriction (maybe Cap One at some point?) but generally it's not the case. If switching networks your card number has to change, but in most cases the account, if handled correctly, will retain age and history

Re: Downgrade Chase Sapphire Reserve questions

toothgrind3r — Sun, 07 Feb 2021 22:23:09 GMT

@Anonymous wrote:
@toothgrind3r wrote:

Thanks so much for the reply, that helps.
re: the MasterCard thing...a small part of my thought you might not be able to PC from a Visa product to a MasterCard product. That's not the case than?
I think there have been times where some issuers have had that as a restriction (maybe Cap One at some point?) but generally it's not the case. If switching networks your card number has to change, but in most cases the account, if handled correctly, will retain age and history

Thanks!

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 05:09:06 GMT

I didn’t realize the flex was a MasterCard so if we go from freedom to flex we are changing networks. I did not know that. Good information. So that would end up with a closed tradeline in addition to a new tradeline backdated.

Re: Downgrade Chase Sapphire Reserve questions

Remedios — Mon, 08 Feb 2021 13:53:26 GMT

@Anonymous wrote:
I didn’t realize the flex was a MasterCard so if we go from freedom to flex we are changing networks. I did not know that. Good information. So that would end up with a closed tradeline in addition to a new tradeline backdated.

No new tradeline, it would be treated same as any other PC.

Network change doesn't cause "old" TL to appear closed.

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 17:18:48 GMT

I thought since there would be a new number, changing networks, there would be a new entry, but that’s good to know that there would not be! Thank you good information!

Re: Downgrade Chase Sapphire Reserve questions

HeavenOhio — Mon, 08 Feb 2021 17:32:47 GMT

@Anonymous, I'm sure that with the numerous Flex PCs that have occurred, we'd have seen mass quantities of complaining had the cards shown as new accounts on credit reports.

@Anonymous, Capital One doesn't PC across networks. But that doesn't necessarily stop PC offers. Even though it was never offered as a Visa card, PCs are the reason there are a handful of Savor Visas floating around.

(It should be acknowledged that Capital One hasn't offered PCs to either the Savor or SavorOne since the cards were restructured and the SavorOne was introduced. The usual downgrade path from a Savor is to Quicksilver.)

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 17:36:33 GMT

Well I meant that it would still retain the original opening date and payment history, so not a new account per se. I just thought it would be an additional tradeline since the number was different, but I stand corrected.

Re: Downgrade Chase Sapphire Reserve questions

HeavenOhio — Mon, 08 Feb 2021 17:54:12 GMT

@Anonymous, I've changed account numbers numerous times without anything changing on my credit reports. I've done this several times with Capital One, once with Barclays, and once with Chase.

The only credit report activity was one time when Capital One reported my balance off-cycle. That happened when I reported a card as being lost. The rest of the account number changes were due to fraud or suspected fraud.

On the other hand, I believe Synchrony will add a new account to one's report, possibly even with a new opening date. Someone will need to confirm that. But the bottom line is that what happens can vary from bank to bank.

If your account is sold to a new bank, what usually happens is that you end up with two accounts with the same opening date. But "usually" is the operative word here. Nothing seems to be set in stone.

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 19:52:28 GMT

Yes I can confirm carecredit will add a tradeline, if you replace the card or at least I’ve seen it happen.

Re: Downgrade Chase Sapphire Reserve questions

K-in-Boston — Mon, 08 Feb 2021 19:23:00 GMT

My one instance with a replacement with Synchrony was a fraudulent charge on my Amazon card. It resulted in a duplicate entry on my credit reports with a new account account number (but same opening date and account history), then the original one was removed from my credit reports a few weeks later.

The only times I have heard of Synchrony reporting a new account with a new account date is after being upgraded from a store card to a bank card. This was often a double-edged sword (upgraded, but new account reporting) many reported here with the Walmart card before Synchrony sold those accounts to CapOne.

But going back to Chase, I have not heard any reports of duplicate or new accounts with a network change or PC.

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 19:54:38 GMT

The Carecredit I was referring to was just a lost/replacement card and it did keep the original opening date, ect, but the old tradeline was never deleted.

Thank you all for the information about Chase though, cause I’ve been considering converting to the flex.

Re: Downgrade Chase Sapphire Reserve questions

FinStar — Mon, 08 Feb 2021 19:57:33 GMT

@Anonymous wrote:
Yes I can firm carecredit will add s tradeline, if you replace the card or at least I’ve seen it happen.

Interesting.

Slightly O/T from the op, but I've requested a couple of replacements for CareCredit (damaged cards) over the years, but the account numbers never changed nor reported as new tradelines. Perhaps in a L/S scenario, which some members have reported in the past.

Re: Downgrade Chase Sapphire Reserve questions

HeavenOhio — Mon, 08 Feb 2021 20:06:32 GMT

I've replaced worn out cards. But in those cases, there's no need for the number to change.

Re: Downgrade Chase Sapphire Reserve questions

Anonymous — Mon, 08 Feb 2021 20:13:00 GMT

Yeah it was lost and the number was changed, that’s probably why. Sorry to go slightly off topic OP.

I did have family recently downgrade from CSP to a freedom unlimited and they didn’t have to pay the annual fee, as they called right after the bill came. it was refunded I think on the next statement.