How Soon Can One Product Change from Sapphire Preferred to Sapphire Reserve?

[ThomasJNewton]

The signup bonus is 20,000 Ultimate Rewards point greater for Sapphire Preferred than for Sapphire Reserve. If one were to get the Preferred card, spend enough to get the bonus, how soon after can one product change to the other card? What other requirements are there to be able to product change? How is the annual fee handled in a product change? Is it just that the new fee is charged at the point of the product change or is there some kind of pro rating?

[FireMedic1]

"Chase Sapphire Preferred® Cardholders can upgrade to a Chase Sapphire Reserve®. However, you will need to wait at least one year after opening your card before being eligible to make this change."

As of 03/30/23:

https://www.nerdwallet.com/article/travel/upgrade-chase-sapphire-preferred-to-reserve 

Gain some, lose some perks.

[Lou-natic]

You'll have to wait a year at least because as I recall the CARD act limits AF increases to consumers. Since the Reserve has a significantly higher AF than the Preferred no product change for 12 months due to the law. But after that you should be able to upgrade/downgrade as you see fit.

[OmarGB9]

You must wait one year as per the CARD Act, must have at least a $10k minimum limit, and I believe they'd credit the Sapphire AF towards the AF of the CSR. You'd just have to pay the difference. 

[K-in-Boston]

The only thing I can add to the above is that in my experience, the prorated AF CSP refund posted almost immediately and a prorated AF for CSR posted a couple of statements later.  I did the product change around 2/3 of the way into my 2nd year, if I recall.  If you are doing the PC right at the 1 year mark, the prorated aspect may not happen or may be negligible amounts.

[coldfusion]

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@K-in-Boston wrote:

The only thing I can add to the above is that in my experience, the prorated AF CSP refund posted almost immediately and a prorated AF for CSR posted a couple of statements later.  I did the product change around 2/3 of the way into my 2nd year, if I recall.  If you are doing the PC right at the 1 year mark, the prorated aspect may not happen or may be negligible amounts.

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When I upgraded right after the year 2 AF posted they credited the entire $95 back within a couple of days but didn't bill me for the $450 CSR AF for another 3 months.    They did bill me for the Year 3 AF 9 months later, I didn't get 3 months of free value out of the card.