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Keep open or close/downgrade?

Super Contributor

Keep open or close/downgrade?

So I have a couple of AFs hitting and I am trying to decide what moves to make. 

 

1. My old Chase Ink card (old version with 5x points) had its AF hit.

2. My Amex Hilton card had its AF hit (I already got my free night)

 

So here is the situation. I have a CSR already so if I downgraded the ink card (I already have one downgraded ink card) I would still be able to transfer points using the CSR.

 

On the other hand I have an Amex business plat. I was thinking about keeping this card so I could have hilton gold status and then getting rid of my hilton card. The CSR and Plat have a lot of overlap at least in terms of the way I use them. I don't see a reason to pay the AF on the Ink card if I am going to keep the CSR. I could also downgrade the CSR to a CSP for a lower AF and still be able to transfer points. Is there any reason to keep paying the AF on the Ink card if I have a CSR?

 

Next year when I drop under 5/24 I will likely apply for a new chase business card, but it doesn't have the same 5x points back deal that my current cards do.  I'm not sure if chase will eventually switch these legacy cards over to the new earning structures.

 

In terms of the plat on the other hand given the changes to the marriott program the plat has lost more value for me so I'm hesitant to commit to keeping it long term. I can always apply for a new amex hilton card in the future to get the gold status back.

 

My initial gut reaction is to cancel hilton card, downgrade ink card, keep CSR and probably cancel plat when AF hits. The alternative is to cancel the CSR, keep the ink and the plat cancel the hilton. Any thoughts about if this is reasonable or if I am missing something?

 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 1 of 11
10 REPLIES
Super Contributor

Re: Keep open or close/downgrade?

I don’t know about the Chase cards, but consider downgrading to the no-AF Hilton. Earning is not too far off from the $95 card, and upgrade again if you close Platinum later. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812

Delta Reserve and CSP Jan 2018, no more 5/24 worries... unless new Chase Marriott/SPG replacement is enticing...meh, turns out not. [unless a 100k points SPG Luxury Upgrade appears... well lookie here...]
Message 2 of 11
Super Contributor

Re: Keep open or close/downgrade?


@NRB525 wrote:

I don’t know about the Chase cards, but consider downgrading to the no-AF Hilton. Earning is not too far off from the $95 card, and upgrade again if you close Platinum later. 


I could do that but right now I am maxed with my amex revolver cards, so I was thinking if I was going to get rid of the card it be better to close rather than downgrade. I'm going to be closing another amex business card at some point though so I could do this in a pinch. I don't run money through my hilton card at all though so if I am not using it for status I'm not getting anything out of it really.  

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 3 of 11
Senior Contributor

Re: Keep open or close/downgrade?

Whatever you do, I'd discourage closing any UR-earning cards.

 

If you want to lose an AF you can downgrade to a no-AF UR product you don't yet have. And they may still allow multiple 5x Freedom cards.

 

Plus, with 5/24, it's often not easy to get a replacement if you close one but change your mind.

Protections: CSR, Schwab Platinum, Costco, Double Cash
Rewards/Offers: BBP, CF, CFU, Discover, ED, BCE
Annual nights: IHG, Hyatt
PIN: Arrival
Bonus chasing/retention games: Aviator Red, SPG Luxury
Message 4 of 11
Super Contributor

Re: Keep open or close/downgrade?

I have been thinking about my ink plus which I haven't used much at all. I have a CIC I got recently may downgrade ink plus to another CIC . I am trying to figure out what benefits I may be losing by losing my ink plus.


EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 5 of 11
Super Contributor

Re: Keep open or close/downgrade?


@wasCB14 wrote:

Whatever you do, I'd discourage closing any UR-earning cards.

 

If you want to lose an AF you can downgrade to a no-AF UR product you don't yet have. And they may still allow multiple 5x Freedom cards.

 

Plus, with 5/24, it's often not easy to get a replacement if you close one but change your mind.


I already have a freedom unlimited, an old freedom, an ink card without an AF and an ink card with an AF and the CSR. On top of this I have a hyatt card. So I have no shortage of chase UR cards and since I want to get another chase business card in the future I have to wonder if maybe I should close one of my two inks before apping for that new business card. I kept my hyatt card because I had an offer where if I made a certain amount of spend I'd get $35 back so I figured I'd keep the card beause it reduced the AF and I usually get at least one good offer via the card per year that is very useful.  

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 6 of 11
Super Contributor

Re: Keep open or close/downgrade?


@mongstradamus wrote:
I have been thinking about my ink plus which I haven't used much at all. I have a CIC I got recently may downgrade ink plus to another CIC . I am trying to figure out what benefits I may be losing by losing my ink plus.

This is exactly what I am wondering. Am I losing anything if I still have the CSR? I don't think I am. I just don't want them to convert those non-AF cards to a new bonus structure. Then again they may do that with all the ink cards at some point. I like my x5 on cable, internet, phone.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 7 of 11
Super Contributor

Re: Keep open or close/downgrade?

Still trying to decide what to do with my ink plus card. I'm thinking I will downgrade it to no-AF and just keep the CSR long term for ability to transfer points. I believe I can keep the 5x categories even if I downgrade to the non-AF version. Anyone see a reason why this would be a bad move?

 

In terms of my amex hilton card I think I will just downgrade it to non-AF card. I don't use it at all and get gold status from my plat card, but maybe if I downgrade it to non-AF then in the future they might offer me a chance to upgrade so I can get an upgrade offer even though I already got the bonus in the past. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 8 of 11
Valued Contributor

Re: Keep open or close/downgrade?

You will get 5x w/ ink cash and you can transfer for now, that may change though.  The 5x goes from 50k to 25k spend.

 

As for Hilton when you use the card for stays it’s 25x vs 32x and 1 point off categories.  I went the no AF route because of Plat, you should DG.

Amex Plats | Amex PRG | Ink+ | Chase Reserve | Amex BRG | Barclays AA | Citi AA exec | Amex Hilton
Message 9 of 11
Senior Contributor

Re: Keep open or close/downgrade?

Isn't there an Ink Cash as well as an Ink Unlimited...both without an AF?

Protections: CSR, Schwab Platinum, Costco, Double Cash
Rewards/Offers: BBP, CF, CFU, Discover, ED, BCE
Annual nights: IHG, Hyatt
PIN: Arrival
Bonus chasing/retention games: Aviator Red, SPG Luxury
Message 10 of 11