Author Topic: Closing Credit Card Account  (Read 789 times)

Offline chuckfinley

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Closing Credit Card Account
« on: February 26, 2019, 01:09:06 PM »
Iím sorry to be off point from this post. I currently have the Chase Sapphire Preferred Card which i have for about 4-5 years now along with a Chase ink business and Chase freedom unlimited. Should I close my preferred card and then apply for a reserve card or should I downgrade my preferred to a Chase freedom card and then apply for a new reserve card?
Please help!

Thanks in advance!

Offline TimT

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Re: Closing Credit Card Account
« Reply #1 on: February 26, 2019, 01:18:53 PM »
Downgrading to a Freedom would give you quarterly bonus spending

Offline chuckfinley

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Re: Closing Credit Card Account
« Reply #2 on: February 26, 2019, 01:53:43 PM »
I understand that but should i close my card and then apply for reserve or downgrade and then apply for reserve?

Offline Dan

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Re: Closing Credit Card Account
« Reply #3 on: February 26, 2019, 04:29:45 PM »
Downgrade and wait a few days.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline chuckfinley

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Re: Closing Credit Card Account
« Reply #4 on: February 26, 2019, 07:26:07 PM »
THNK YOU @Dan FOR ANSWERING. A REAL HONOR!

I called Chase to Downgrade my Preferred card and they said in order to be eligible for the reserved welcome bonus i have to wait 4-8 months.
Is that true? am i missing something?

Offline yitzgar

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Re: Closing Credit Card Account
« Reply #5 on: February 26, 2019, 07:34:54 PM »
THNK YOU @Dan FOR ANSWERING. A REAL HONOR!

I called Chase to Downgrade my Preferred card and they said in order to be eligible for the reserved welcome bonus i have to wait 4-8 months.
Is that true? am i missing something?
4-8 or 48?

Offline Dan

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Re: Closing Credit Card Account
« Reply #6 on: February 26, 2019, 07:39:01 PM »
THNK YOU @Dan FOR ANSWERING. A REAL HONOR!

I called Chase to Downgrade my Preferred card and they said in order to be eligible for the reserved welcome bonus i have to wait 4-8 months.
Is that true? am i missing something?
48 months from when you got the bonus on the SP.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline chuckfinley

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Re: Closing Credit Card Account
« Reply #7 on: February 26, 2019, 07:47:11 PM »
4-8 or 48?

They said 4 to 8 months after closing. I guess Ill call another rep to see what they have to say.

I opened the SP 5 years ago and the rep was insisting that it was 4 to 8 months after CLOSING a sapphire.

Offline mmgfarb

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Re: Closing Credit Card Account
« Reply #8 on: February 26, 2019, 07:54:22 PM »
They said 4 to 8 months after closing. I guess Ill call another rep to see what they have to say.

I opened the SP 5 years ago and the rep was insisting that it was 4 to 8 months after CLOSING a sapphire.
You just have to wait a few days for the the system to change your card from SP to Freedom.
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Offline chuckfinley

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Re: Closing Credit Card Account
« Reply #9 on: February 26, 2019, 07:56:00 PM »
thank you all!

ill keep the thread posted of my experience!

Offline Dan

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Re: Closing Credit Card Account
« Reply #10 on: February 26, 2019, 08:01:14 PM »
They said 4 to 8 months after closing. I guess Ill call another rep to see what they have to say.

I opened the SP 5 years ago and the rep was insisting that it was 4 to 8 months after CLOSING a sapphire.

You misheard. It's 48 (not 4 to 8 ) months from when you last got the bonus (not from when you downgrade/close).
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline 12HRS

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Re: Closing Credit Card Account
« Reply #11 on: February 27, 2019, 12:36:26 AM »
You just have to wait a few days for the the system to change your card from SP to Freedom.

change is instant fwiw

Offline mmgfarb

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Re: Closing Credit Card Account
« Reply #12 on: February 27, 2019, 02:10:17 AM »
change is instant fwiw
Yes but their system can take a couple days to update.
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Offline myi

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Re: Closing Credit Card Account
« Reply #13 on: February 28, 2019, 02:32:40 AM »
Downgrade and wait a few days.
I guess he won't be applying for the Chase freedom for another while as he won't be eligible for the bonus.
  ;)

I guess the freedoms are for beginners, meaning the beginners when opening cards should get the bonuses from both Chase freedom unlimited and Chase freedom regular that way when they move on to bigger and better stuff the sapphire reserve and preferred as well as the Chase ink (yes Ink doesn't downgrade to freedom)they won't have to worry about when downgrading it to the freedom that they're going to lose the sign up bonus.

Also I don't think you could get both freedoms while you have one open you could only have one product at a time is that correct?
  I would assume if you have a Chase freedom card which you got from downgrading another card, you would be eligible to sign up for the Chase freedom unlimited as you never had that before? Or would you not be eligible for freedom card to sign up for as you already have a freedom card and they won't allow you to have two of the same products at the same time?
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Offline ludmila

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Re: Closing Credit Card Account
« Reply #14 on: February 28, 2019, 02:43:21 AM »
I guess he won't be applying for the Chase freedom for another while as he won't be eligible for the bonus.
  ;)

I guess the freedoms are for beginners, meaning the beginners when opening cards should get the bonuses from both Chase freedom unlimited and Chase freedom regular that way when they move on to bigger and better stuff the sapphire reserve and preferred as well as the Chase ink (yes Ink doesn't downgrade to freedom)they won't have to worry about when downgrading it to the freedom that they're going to lose the sign up bonus.

Also I don't think you could get both freedoms while you have one open you could only have one product at a time is that correct?
  I would assume if you have a Chase freedom card which you got from downgrading another card, you would be eligible to sign up for the Chase freedom unlimited as you never had that before? Or would you not be eligible for freedom card to sign up for as you already have a freedom card and they won't allow you to have two of the same products at the same time?
I have 3 Freedoms, one I applied for many years ago, the other was downgraded and the 3rd I can't remember , then I applied for the Freedom Unlimited and was approved, but this was over a year ago. I have not applied for any cards since.
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