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There are a ton of great credit cards out there. This can make choosing the right card a challenge. If you picked one Chase credit card and later realized you made the wrong choice, you may want to upgrade your card. You can get a Chase credit card upgrade for most Chase cards. But is upgrading even a good idea? Our guide covers the upgrade process, as well as when you should -- and shouldn't -- upgrade your Chase credit card.
A credit card upgrade is a type of product change. You'll change from one Chase credit card product to another Chase credit card product. In most cases, product changes don't require a new application or a hard credit inquiry. However, you typically need to have had your account for at least a year before you can upgrade.
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Chase Freedom Flex℠ | Chase Sapphire Preferred® Card | Chase Sapphire Reserve® |
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Apply Now for Chase Freedom Flex℠
On Chase's Secure Website. |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Apply Now for Chase Sapphire Reserve®
On Chase's Secure Website. |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Welcome Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening! $200 bonus |
Welcome Offer: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠. 75,000 bonus points |
Welcome Offer: Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,125 toward travel when you redeem through Chase Travel℠. 75,000 bonus points |
Rewards Program: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases. 5% cash back offer |
Rewards Program: Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases |
Rewards Program: Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases. 5x points on flights and 10x points on hotels and car rentals through Chase Travel℠. |
Intro APR: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months |
Intro APR: N/A Purchases: N/A Balance Transfers: N/A |
Intro APR: Purchases: N/A Balance Transfers: N/A |
Regular APR: 20.49%-29.24% Variable |
Regular APR: 21.49%-28.49% Variable |
Regular APR: 22.49%-29.49% Variable |
Annual Fee: N/A $0 |
Annual Fee: N/A $95 |
Annual Fee: N/A $550 |
Highlights:
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Apply Now for Chase Freedom Flex℠
On Chase's Secure Website. |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Apply Now for Chase Sapphire Reserve®
On Chase's Secure Website. |
Show More Show Less |
You can only have one Chase Sapphire card at a time. For many folks, the Chase Sapphire Preferred® Card is an easy pick because it typically has a higher welcome bonus. But what if you realize later you want the higher travel rewards and improved benefits of the Chase Sapphire Reserve®?
Related: Chase Credit Card Benefits
Once you've had your Chase Sapphire Preferred® Card for at least a year, you can upgrade to the Chase Sapphire Reserve®. To do so, just call the number on the back of your card to contact customer service. You can request the upgrade and get a near-instant decision.
One thing to note is that the Chase Sapphire Reserve® is typically harder to qualify for than the Chase Sapphire Preferred® Card. Your upgrade approval isn't guaranteed. Either way, you should know by the end of your phone call if your upgrade is approved.
There are three cards in the Chase Freedom family, but only two of them are open to new cardholders (the regular Chase Freedom card is no longer available):
You can do a product change between the two cards. So, you could change a Chase Freedom Unlimited® into a Chase Freedom Flex℠, or vice versa. However, you can also upgrade a Freedom card to a Sapphire card. While this isn't an ideal situation -- the Sapphire cards tend to have big sign-up bonuses you'd miss out on -- it's still possible.
To upgrade a Freedom card to a Sapphire card, simply call Chase and request the upgrade. Keep in mind the Sapphire cards have much higher credit and income requirements than the Freedom cards. If you don't meet the requirements for a Sapphire card, your upgrade could be denied.
Credit card upgrades aren't always the best path to getting the best credit card for you. That said, there are times when it may make sense to upgrade your Chase card.
You can't be the primary cardholder on more than one Sapphire credit card. If you have a Chase Sapphire Preferred® Card but want a Chase Sapphire Reserve® instead, your options are limited.
Canceling and applying is the better option if you're after a welcome bonus. But you're only eligible for a welcome bonus on a new Sapphire card if it's been at least 48 months since your last welcome bonus from a Sapphire card. If you're under that time limit, you won't be eligible for a welcome bonus anyway, so upgrading your existing card may be the better option.
Chase restricts who can get approved for a new card based on recent application activity. Specifically, Chase has the 5/24 rule, which means you won't be approved for a new Chase card if you've opened five or more new credit card accounts in the last 24 months.
The 5/24 rule applies to all Chase credit cards, as well as many of its cobranded cards. If you're over the 5/24 limit, you won't be approved for an additional Chase card, so upgrading an existing card may be your best bet for getting a different Chase card.
Even if you're below the 5/24 limit, Chase may not approve your application if you already have too many Chase credit cards -- or, more specifically, too much credit with Chase. Banks often cap how much total credit they're willing to give you. If you're already at your max credit with Chase, you can either reallocate some of your credit lines from other cards or upgrade an existing card.
You've chosen a new card and are ready for a change. But while upgrading can be useful, there's a lot to consider before making the decision.
The main downside to upgrading a Chase card instead of applying as a new cardholder is that you'll miss out on the welcome bonus. Rarely, you may get a targeted upgrade offer from Chase that includes an upgrade bonus. Most of the time, however, upgrades won't earn any kind of bonus points. Sapphire cards can have huge welcome bonuses, so this could be an expensive loss.
Related: Best Sign-Up Bonus Credit Cards
Whether you're upgrading from a Freedom card to a Sapphire card or from one Sapphire card to another, your fee is going up. The Freedom family cards have no annual fee. The Chase Sapphire Preferred® Card has a $95 annual fee. And the Chase Sapphire Reserve® has a massive $550 annual fee.
That new fee will likely show up on your first statement after upgrading, so be prepared to pay it in full right away.
See our full list of the best Chase credit cards and determine which is right for you.
If you find you're tired of paying a high annual fee on your Sapphire card, you can downgrade it to a no annual fee option. However, as with upgrades, you'll likely miss out on a welcome bonus or intro APR offer that may come with the card when you apply as a new cardholder.
Before downgrading your card, consider the potential impacts to your overall card collection. For instance, if you currently have a Chase trifecta -- perhaps a Sapphire card paired with a Chase Freedom Unlimited® and Chase Freedom Flex℠ -- downgrading your Sapphire card to a Freedom card will end your ability to transfer your points.
The process of downgrading a Chase card is the same as upgrading. You can call the number on the back of your card and request a downgrade from customer service.
You'll lose your previous card benefits as soon as the downgrade is complete. If you downgrade from a Chase Sapphire Reserve® to a Preferred, you'll lose access to your Priority Pass membership and points bonus. And, as mentioned, you'll lose the option to transfer points if you downgrade from a Sapphire card to a Freedom card. Be sure to use up any statement credits and transfer any rewards before requesting a downgrade.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Discover will match all the cash back you've earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
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Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
75,000 bonus points Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Yes, you can typically upgrade a Chase Freedom card to another card, such as the Chase Sapphire Preferred® Card. However, you must still be approved for the card to which you want to upgrade. The Chase Sapphire Preferred® Card has higher credit score and income requirements. An upgrade approval is not guaranteed.
No, most Chase product upgrades are not eligible for a welcome bonus. The only exception is if you receive a specific upgrade offer from Chase that includes an upgrade bonus.
A product change is when you transform one type of Chase credit card account to another card account. For example, you could product change a Chase Sapphire Preferred card to a Chase Sapphire Reserve®. A product change is a full transformation. Once you product change a card, the new card loses all the rewards and benefits of the old card type and gains all of the rewards and benefits of the new card type.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.