How to Upgrade, Downgrade or Change Your Chase Credit Card

If you feel that your Chase credit card no longer suits your spending habits, consider upgrading to a card with more benefits or downgrading to a card with no annual fees. This process is known as a product change, which can be done by calling the number on the back of your credit card or Chase’s customer service hotline at 1-800-432-3117.

Chase also has the Catchall program, allowing you to switch between credit cards by making a request online. Simply enter your account information to get started.

Unlike when you apply for a new card or close your account, a hard credit pull isn’t usually required for a product change. So generally, upgrading or downgrading your Chase credit card won’t bring down your credit score as long as you maintain responsible credit habits.

It’s possible to upgrade or downgrade your Chase credit card. But there are some rules you need to keep in mind before requesting a product change.

• Under the Credit Card Accountability Responsibility and Disclosure (CARD) Act, card providers can’t charge cardholders a higher annual fee on the same account in the first year the account is open. Thus, you must keep your current card for at least a year before requesting an upgrade or downgrade.
• You can only request a product change within the same card category. That means you can’t change from a personal credit card to a business credit card. You also can’t switch between Chase’s co-branded cards. If you have a Marriott Bonvoy card, you can’t switch to a Southwest Rapid Rewards card.
• You need to meet the requirements of the card you’re upgrading to. For instance, if you want to upgrade to Chase Sapphire Reserve, you need an excellent credit score.

If you have further questions about product changes, you may contact the number on the back of your Chase credit card.

When you upgrade or downgrade your Chase credit card, your rewards balance will be transferred to your new card. However, it's worth noting that their value may not be the same if you plan to redeem them through the Chase Ultimate Rewards Travel Portal. With this redemption method, the Chase Sapphire Reserve Card, for example, offers a value of up to 1.5 cents per point when booking travel through Ultimate Rewards or using the Pay Yourself Back feature, whereas the Chase Freedom Flex Card offers a value of 1 cent per point.

Whether or not you should upgrade your Chase credit card will depend on your spending habits and how often you’ll use the added perks.

For example, if you’re a frequent traveler who wants to earn higher rewards on your travel purchases, consider upgrading your Chase Sapphire Preferred credit card to the Chase Sapphire Reserve credit card. Or if you want to rack up more points from staying at hotels participating in Marriott Bonvoy, you may switch from Marriott Bonvoy Bold to Marriott Bonvoy Boundless.

Upgrading your Chase credit card can help you get a new card that is more aligned with your needs and preferences without going through a new card application. And because Chase offers a wide range of credit cards in its portfolio, we provided some upgrade options to narrow down your search.

Chase Sapphire Preferred to Chase Sapphire Reserve

When you upgrade from the Chase Sapphire Preferred Card to the Chase Sapphire Reserve Card, your annual fee jumps from $95 to $550. But the perks can be worth it for frequent travelers. For example, Chase Sapphire Reserve cardholders receive a complimentary Priority Pass membership and can get up to $300 back on travel purchases per year (as statement credits). Plus, their reward-earning rates are higher, and they get more value when they redeem their points for travel via Chase Ultimate Rewards (50% vs. 25%).

United Explorer Card to United Quest Card

The United Explorer Card charges a $95 annual fee (waived for the first year), while the United Quest Card's annual fee is $250. But for frequent United flyers, switching to the United Quest Card may be worthwhile. Among other perks, cardholders can receive up to $125 each year in statement credits for United purchases, and they get their first and second bag checked for free (as opposed to just the first bag with the United Explorer Card). Plus, they can increase their reward-earning rate on United purchases from 2X miles per dollar to 3X miles per dollar.

If you find your Chase card is no longer serving you as well as it once did, consider downgrading your Chase credit card instead of outright canceling it. For instance, if you no longer make frequent travel purchases to offset the hefty annual fee, you may downgrade your Chase Sapphire Reserve Card to a Chase Freedom Unlimited Card. Or, business owners who want to continue participating in the Chase Ultimate Rewards program but no longer wish to pay an annual fee might consider switching from the Ink Business Preferred Card to the Ink Business Unlimited Card.

Downgrading your credit card may be ideal if you want to cut down on expenses. Browse through our Chase downgrade options to determine which card better reflects your current spending habits.

If you can no longer justify paying an expensive annual fee or find that the card no longer aligns with your spending habits, you may be tempted to cancel your card. But doing so can cause unintended consequences on your credit report, including:

• Higher credit utilization ratio: Closing your account means losing some (or all) of the credit available to you. As a result, if you keep your spending habits the same, your credit utilization ratio may increase and impact your credit score.
• Lower credit age: The length of time a credit card remains active — that is, its age — affects your credit score. So when you cancel your credit card, it may ultimately bring down the average age of your accounts and hurt your credit score.

It’s important to weigh the pros and cons of canceling your credit card before finalizing your decision. In most cases, this move should only be considered as a last resort.

Before contacting your card issuer to cancel your card, you may benefit from exploring these alternatives to avoid damaging your established credit.

• Request a product change: If your card’s annual fee is the main problem, you may ask your card provider to downgrade your credit card to a card with a $0 annual fee.
• Negotiate a lower interest rate: You may reach out to your card issuer and ask for a lower interest rate if you tend to carry a balance.
• Use the card for small payments: If your credit card has a $0 annual fee, you can always just keep the card without using it. However, inactive cards may be canceled by card issuers. You can avoid this by using the card once in a while for minor purchases.

Upgrading or downgrading your Chase credit card may resolve a mismatch between the card you have and your current spending habits. But is it the right option for you? We addressed some frequently asked questions to help you make a wise financial decision.

Upgrading or downgrading your Chase credit card may be ideal if you want card benefits that suit your spending needs and lifestyle. But if the Chase card you’re eyeing isn’t within the same category as your existing card, it may be better to get a new credit card.