Chase Product Change Options And Rules
Again! Before we start! Never downgrade or close a card in the first year of opening it! Actually chase will even not let you normally do this.
Let’s see today the options and rules by Chase Bank on this:
- You can not change between personal and business cards
- You can not change between a Chase ultimate rewards card to a co branded card
- You can not change a co branded card only within its family, Let’s say between one southwest and the other but not from a southwest card to a marriott
In the first year credit card companies are not allowed by law to change you to a higher annual fee so you will not be able to upgrade a card in the first year; Let’s say change from a sapphire preferred to a sapphire reserve, This will not be allowed.
But even downgrading chase will normally not let you within the first year and as stated above is not recommended to do regardless.
Annual fees: In regards to annual fees; If you upgrade a card you will get charged the annual fee of the new card immediately. If you downgrade a card, if its in the first statement of the annual fee being billed you will get a full refund, if its after that you will get a pro-rated refund
Now lets devide them up clearly:
- Chase Ink Preferred, Chase Ink Cash, Chase Ink Unlimited
- Chase Freedom, Freedom Unlimited, Sapphire, Sapphire Preferred, Sapphire Reserve
- All Southwest Personal Cards
- All Southwest Business cards