There are a few more restrictions to be aware of. For instance, Chase still allows cardholders of Marriott-branded personal credit cards to change to the Ritz-Carlton Card even though it was closed to new applicants in 2018. Sometimes, you may even be able to request a product change to a card that’s no longer available to new applicants. Instead, you would need to downgrade the Sapphire Reserve to either the Sapphire Preferred or another Ultimate Rewards-earning card like the Chase Freedom Flex or Chase Freedom Unlimited. This means you likely won’t be able to downgrade from a card like the Chase Sapphire Reserve to a United Explorer Card or other cobranded card, even though they are both Chase-issued credit cards. Most rewards credit cards are part of card families, and product changes can typically only be done within that family. However, depending on your situation, the pros may outweigh this con, and there’s nothing stopping you from reapplying for the card you’re giving up and earning another welcome bonus down the line.
The one big disadvantage of downgrading a card is that you typically won’t get a welcome bonus for the card you’re downgrading to.
If you are not allowed to apply for another card, you could request a product change to a different card if its benefits are more appealing to you. In order to be approved for a Chase card, you cannot have opened five or more personal credit cards across all banks in the last 24 months. (Photo by John Gribben for The Points Guy)Īnother major restriction on Chase cards is the issuer’s 5/24 rule.
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