Quick Background
For the past 2.5 years, I've enjoyed my Chase Sapphire Preserve card. The other day, I decided I wanted to apply for the Chase Sapphire Reserve (CSR) and take advantage of the 50,000 point spending bonus that comes with it (along with its other fantastic bonuses). What I did was contact Chase and let them know I wanted to downgrade my card to the free Chase Freedom Unlimited, so I can apply for the CSR. They downgraded it for me without a problem.
The Problem/My Confusion
After they set up the new card, they said I would have to wait 45 days after my Chase account changes to reflect to the new card to apply for the CSR. Why is that? If my account already reflects the new card/downgrade and its clear I don't have a Sapphire card anymore, why can't I apply? What do you think will happen if I do? Has anyone else dealt with something similar?
