Chase Sapphire Product Change Question

[Anonymous]

Hello Everyone,

I was approved for the Sapphire Preferred less than a year ago with a high APR and SL $12K. I’ve recently decided that the Sapphire Reserve better fits my needs.

I haven’t decided if I should product change up to the CSR, or pc down to one of the freedoms and then apply for the CSR when my scores are higher and some negatives fall of of my account.

Does anyone know if I’m approved to pc up to the CSR, will my APR automatically remain the same? Or will that decision be made once I request the change?

If I can possibly get a lower APR, I may even try to wait the 48 months to get a second SUB as well.

I’d love to hear what you think.

Thank you!

[Remedios]

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@Anonymous wrote:
Hello Everyone,

I was approved for the Sapphire Preferred less than a year ago with a high APR and SL $12K. I’ve recently decided that the Sapphire Reserve better fits my needs.

I haven’t decided if I should product change up to the CSR, or pc down to one of the freedoms and then apply for the CSR when my scores are higher and some negatives fall of of my account.

Does anyone know if I’m approved to pc up to the CSR, will my APR automatically remain the same? Or will that decision be made once I request the change?

If I can possibly get a lower APR, I may even try to wait the 48 months to get a second SUB as well.

I’d love to hear what you think.

Thank you!

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If you do a PC, apr will not change because you did a PC.  Strictly from PC point of view, apr will remain the same

With that said, CSP and CSR are not the cards you'd  want to carry a balance on, so APR should be irrelevant. 

[ridgebackpilot]

I started with the Sapphire Preferred and eventually PCd it to the Sapphire Reserve. You need to have your Preferred card for at least a year before Chase will allow you to PC. As far as I know, the APR won't change. Minimum CL is $10K; the Reserve is a VISA Infinite card.

The Sapphire Reserve is arguably the best travel card on the market. Whatever you like about the Sapphire Preferred, the Reserve will do better (except the AF). Almost all my travel and dining spend goes on the Reserve card.

[Anonymous]

Thank you both for responding. I appreciate it. I have another quick question. Is it likely that my credit limit will also remain the same? My CSP CL is $12K.

My scores should be higher when I switch to the Reserve than they were when I apped for the Preferred, but of course I’m not certain. My scores seem to be stuck and I’m assuming that won’t change until my last paid charge-offs fall off at the end of the year.

[Remedios]

CL will not change because of PC.

[UpperNwGuy]

It doesn't matter what your APR is on the CSP or the CSR.  You should never carry a balance on either one of these cards.  Let me repeat, you should never carry a balance on either one of these cards.  If you have to carry a balance somewhere, let it be on a low APR credit union card.

[Credit-hoarder]

@Remedios & NWGuy: Why should you not ever carry a balance on these cards? It's been a few years since my CSP has seen substantial usage--but when it did I let a balance report for at least 6+ months and nothing happened.

[ChargedUp]

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@Credit-hoarder wrote:

@Remedios & NWGuy: Why should you not ever carry a balance on these cards? It's been a few years since my CSP has seen substantial usage--but when it did I let a balance report for at least 6+ months and nothing happened.

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I think they're simply referring to the higher interest rate that CSP/CSR come with. Chase has no issue with a balance being carried on these cards, but it is costly when comparing a ~25% APR with a <10% APR possible on other cards.

[Remedios]

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@Credit-hoarder wrote:

@Remedios & NWGuy: Why should you not ever carry a balance on these cards? It's been a few years since my CSP has seen substantial usage--but when it did I let a balance report for at least 6+ months and nothing happened.

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What you're describing is just allowing balance to report and that's fine, my post was about not  practicing PIF with those cards, as APRs are not exactly wallet friendly and carrying balance on them effectively negates the rewards. 

Hope that helps 

[Credit-hoarder]

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@ChargedUp wrote:

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@Credit-hoarder wrote:

@Remedios & NWGuy: Why should you not ever carry a balance on these cards? It's been a few years since my CSP has seen substantial usage--but when it did I let a balance report for at least 6+ months and nothing happened.

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I think they're simply referring to the higher interest rate that CSP/CSR come with. Chase has no issue with a balance being carried on these cards, but it is costly when comparing a ~25% APR with a <10% APR possible on other cards.

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Now I get it. Thanks for the reply @Chargedup. Of course when I app-ed for my CSP almost 5 years ago--the application back then stated one set APR for everybody of 15.xx%--and right now mine is at 17.xx% due to fed rate hikes. Not sure when they decided to make it a range app of 17.xx% to 25.xx%--but that's the reason I'm keeping mine open for now--b/c I have that lowest available APR for that card.