@FinStar wrote:
@DarkKnight_Credit wrote:
@YoungMoney06 wrote:
@Ladymajestic2000 wrote:I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?
If you upgrade, you're effectively product changing. So yes, your Platinum card will be changed from a Platinum to whatever card you upgrade to. You won't have two cards, but one.
As for the AMEX question- there's too many variances to that to answer, so unfortunately, I don't know.
Even though you're product changing after the upgrade, would this effect your AAoA, because the old card is replaced with a new card?
No. AAoA is not impacted because a new origination or tradeline is not being reported. The CRAs will reflect the updated numeric account value, but the history is retained as this isn't considered applying for a new CC. AENB is simply switching the product. The same applies if going in reverse where the product is downgraded.
Thanks! It's literally my first time hearing about credit card upgrades. If I upgrade, should I wait for 6 or more months to apply for a new credit card afterwards? I'm asking, because I currently have Chase Freedom Unlimited and they're offering me a Chase Sapphire Preferred Card with a CL of 14K (since I personally bank with them as well). I also have a possible upgrade offer with Delta SkyMiles Reserve Amex card, too.
@DarkKnight_Credit wrote:
@FinStar wrote:
@DarkKnight_Credit wrote:
@YoungMoney06 wrote:
@Ladymajestic2000 wrote:I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?
If you upgrade, you're effectively product changing. So yes, your Platinum card will be changed from a Platinum to whatever card you upgrade to. You won't have two cards, but one.
As for the AMEX question- there's too many variances to that to answer, so unfortunately, I don't know.
Even though you're product changing after the upgrade, would this effect your AAoA, because the old card is replaced with a new card?
No. AAoA is not impacted because a new origination or tradeline is not being reported. The CRAs will reflect the updated numeric account value, but the history is retained as this isn't considered applying for a new CC. AENB is simply switching the product. The same applies if going in reverse where the product is downgraded.
Thanks! It's literally my first time hearing about credit card upgrades. If I upgrade, should I wait for 6 or more months to apply for a new credit card afterwards? I'm asking, because I currently have Chase Freedom Unlimited and they're offering me a Chase Sapphire Preferred Card with a CL of 14K (since I personally bank with them as well). I also have a possible upgrade offer with Delta SkyMiles Reserve Amex card, too.
As mentioned before, upgrading isn't getting a new account, so it really wouldn't affect approval odds for Chase one way or the other. If your profile is ready now, you could probably go for the Chase card now, assuming you don't have 5 or more new accounts opened in the last 24 months.
@OmarGB9 wrote:
@DarkKnight_Credit wrote:
@FinStar wrote:
@DarkKnight_Credit wrote:
@YoungMoney06 wrote:
@Ladymajestic2000 wrote:I guess my questions are.. if I upgrade, will it completely take away my platinum or will I have 2 cc now? 2. Will it affect me from getting an AMEX Gold card if I apply next month ?
If you upgrade, you're effectively product changing. So yes, your Platinum card will be changed from a Platinum to whatever card you upgrade to. You won't have two cards, but one.
As for the AMEX question- there's too many variances to that to answer, so unfortunately, I don't know.
Even though you're product changing after the upgrade, would this effect your AAoA, because the old card is replaced with a new card?
No. AAoA is not impacted because a new origination or tradeline is not being reported. The CRAs will reflect the updated numeric account value, but the history is retained as this isn't considered applying for a new CC. AENB is simply switching the product. The same applies if going in reverse where the product is downgraded.
Thanks! It's literally my first time hearing about credit card upgrades. If I upgrade, should I wait for 6 or more months to apply for a new credit card afterwards? I'm asking, because I currently have Chase Freedom Unlimited and they're offering me a Chase Sapphire Preferred Card with a CL of 14K (since I personally bank with them as well). I also have a possible upgrade offer with Delta SkyMiles Reserve Amex card, too.
As mentioned before, upgrading isn't getting a new account, so it really wouldn't affect approval odds for Chase one way or the other. If your profile is ready now, you could probably go for the Chase card now, assuming you don't have 5 or more new accounts opened in the last 24 months.
PayPal Credit (not the credit card) is the last account I opened in the last 6 months. Thanks for the info.