Author Topic: Closing Credit Card Account  (Read 5094 times)

Offline chuckfinley

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Closing Credit Card Account
« on: February 26, 2019, 01:09:06 PM »
I’m 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

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Dec 2013
  • Posts: 22077
  • Total likes: 7130
  • DansDeals.com Hat Tips 12
    • View Profile
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

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
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

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67598
  • Total likes: 16909
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
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

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
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

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Dec 2016
  • Posts: 3078
  • Total likes: 1277
  • DansDeals.com Hat Tips 1
    • View Profile
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

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67598
  • Total likes: 16909
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
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

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
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

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 8355
  • Total likes: 1110
  • DansDeals.com Hat Tips 4
    • View Profile
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.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline chuckfinley

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
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

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 67598
  • Total likes: 16909
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
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

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jun 2013
  • Posts: 5108
  • Total likes: 575
  • DansDeals.com Hat Tips 6
    • View Profile
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

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 8355
  • Total likes: 1110
  • DansDeals.com Hat Tips 4
    • View Profile
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.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline myi

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Feb 2015
  • Posts: 23540
  • Total likes: 2427
  • DansDeals.com Hat Tips 356
  • Gender: Male
    • View Profile
  • Location: InMyPants! 🙈
  • Programs: 2Many2List!
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?
Quote
Need your LG Exalt fixed? Cracked in half? Water damage? Or parts to repair yourself. 347.201.2501

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
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.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline myi

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Feb 2015
  • Posts: 23540
  • Total likes: 2427
  • DansDeals.com Hat Tips 356
  • Gender: Male
    • View Profile
  • Location: InMyPants! 🙈
  • Programs: 2Many2List!
Re: Closing Credit Card Account
« Reply #15 on: February 28, 2019, 05:14:03 AM »
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.
If my calculations are correct, you should be holding by 4 freedoms now!
Quote
Need your LG Exalt fixed? Cracked in half? Water damage? Or parts to repair yourself. 347.201.2501

Offline ludmila

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Aug 2012
  • Posts: 5147
  • Total likes: 271
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: IND
  • Programs: Hilton Diamond,Marriott Platinum,SPG Platinum.
Re: Closing Credit Card Account
« Reply #16 on: March 01, 2019, 04:34:04 AM »
If my calculations are correct, you should be holding by 4 freedoms now!
Yes, 3 Freedom and 1 Freedom Unlimited.
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline chuckfinley

  • Dansdeals Silver Elite
  • **
  • Join Date: May 2017
  • Posts: 50
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Closing Credit Card Account
« Reply #17 on: March 11, 2019, 08:03:09 PM »
so i have friends who went into a branch and got 80,000 points into offer..  i went in today and they only offered me 50,000

any ideas or ways to get the 80K??

Offline unavailable

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Dec 2013
  • Posts: 545
  • Total likes: 20
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: bp
Re: Closing Credit Card Account
« Reply #18 on: March 14, 2019, 04:08:05 PM »
so i have friends who went into a branch and got 80,000 points into offer..  i went in today and they only offered me 50,000

any ideas or ways to get the 80K??
chase has different offers for different credit cards. 
ink preferred gets you 80k
ink unlimited gets you 50k


my guess is you both applied for different cards
 

Offline Naftuli19

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2018
  • Posts: 2721
  • Total likes: 398
  • DansDeals.com Hat Tips 3
  • Gender: Male
    • View Profile
  • Location: Not in Quarantine
  • Programs: I wish all...
Re: Closing Credit Card Account
« Reply #19 on: March 14, 2019, 04:31:36 PM »
chase has different offers for different credit cards. 
ink preferred gets you 80k
ink unlimited gets you 50k


my guess is you both applied for different cards
+1
Sometimes You Will Never Know the True Value of A Moment Until It's Become A Memory...