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TPG reader question: Can I downgrade my Chase Sapphire Reserve to a Sapphire Preferred and still keep my points?

Sept. 20, 2021
8 min read
TPG reader question: Can I downgrade my Chase Sapphire Reserve to a Sapphire Preferred and still keep my points?
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Editor’s note: This article is part of a weekly column to answer your toughest credit card questions. If you would like to ask us a question, tweet us at @thepointsguy, message us on Facebook or email us at info@thepointsguy.com.


Sometimes, a credit card welcome bonus is so juicy in the travel cards market that it compels you to open the card regardless of its internal flaws. A year into your card membership, your honeymoon period may well be over and you're examining whether you want to pay the annual fee year after year.

You may be sitting on a mountain of credit card rewards with an impending annual fee that you're debating on whether or not to pay. Is there anything you can do? Reader Gary asked the following:

[pullquote source="Gary Ancer"]Can I downgrade my Chase Sapphire Reserve to a Chase Sapphire Preferred Card and still keep all my points?[/pullquote]

That's an important question! You absolutely can downgrade your current annual fee-incurring card to a card with a smaller annual fee without losing your points — no matter which flexible currency you hold. Let's take a look.

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How to lower your annual fee while salvaging your points

Losing Chase Ultimate Rewards from canceling a card would be devastating. You can use them for big savings at high-end resorts like the Park Hyatt Beaver Creek. (Photo by Joseph Hostetler/The Points Guy)

Before we get started, I want to highlight the fact that if you've got a cobranded airline or hotel credit card, your rewards are not stored on your credit card. Each month, the miles and points you earn are automatically deposited into your corresponding loyalty account. For example, if you've got a Marriott credit card, you can cancel it at any time and your points will remain in your Marriott account.

However, if you're collecting bank points, those will disappear if you cancel your card (if you're not careful). To avoid this, you can "product change" your current card to another card in the same family without losing your points. Here's an issuer-by-issuer rundown.

Chase

As long as you have one of the below Chase Ultimate Rewards points-earning cards, you won't lose your points. If you want to cancel a card, simply transfer the points to another of your Ultimate Rewards cards before canceling. Or, if you want to pay a lower annual fee like Gary, you can downgrade your card.

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The following personal cards can be freely product changed:

The following small business cards can be freely product changed:

Just note that you must have at least one Ultimate Rewards card that incurs an annual fee if you want to transfer your points to valuable airline and hotel partners. It's by far the best way to use Chase points, and it's why nearly everyone at TPG keeps one of these cards open at all times. We save thousands every year on travel.

American Express

The following Amex Membership Rewards points-earning personal cards can be freely product changed:

The following Amex Membership Rewards points-earning small business cards can be freely product changed:

The information for the Amex Everyday, Amex Everyday Preferred, Amex Green, and Amex Business Green has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Like Chase, as long as you've got one of the above cards, you won't lose your Amex Membership Rewards points.

Citi

The Citi ThankYou points-earning cards that can be freely product changed include:

The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

A big caveat here is that you can transfer the cash back you earn with the Citi Double Cash and the Citi Custom Cash to ThankYou points-earning cards, but you cannot transfer points to your cash back cards.

Capital One

Capital One is a unique issuer in the way it treats its rewards. Product changing isn't as simple as other issuers, as Capital One may deny you the option. If your account is in good standing, you shouldn't have much of an issue, but Capital One will send out invitations to product change when they deem you worthy.

Additionally, Capital One will allow you to product change between cash back-earning cards and Capital One miles-earning cards. You can convert your cash back rewards into Capital One miles anyway, provided you have at least one of each card type.

So, while product changing isn't as "free" as the previous currencies, here are some possibilities.

Personal cards:

Small business cards:

The information for the Capital One Savor, Spark Cash Select, Spark Miles for Business, has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

As long as you've got at least one card open that earns the rewards currency you're collecting, you can cancel and/or product change your other credit cards. You may have to transfer your points from one card to another before closing a card, but you won't lose your rewards.

Depending on how you product change your cards, your points may become less valuable. For example, if your only Chase Ultimate Rewards points earning card is the Chase Sapphire Reserve, your points are worth 2 cents each, per TPG valuations. If you downgrade that card to a Chase Freedom Flex, your points will only be worth 1 cent each. To unlock the higher value of your points, you'll have to open another Ultimate Rewards-earning card.

Let us know if you have any head-scratchers you’d like answered for our weekly reader question series. You can tweet us @thepointsguy, message us on Facebook or email us at info@thepointsguy.com.

For rates and fees of the Amex Platinum, click here
For rates and fees of the Amex Gold, click here
For rates and fees of the Amex Green, click here
For rates and fees of the Amex Business Platinum, click here
For rates and fees of the Amex Business Gold, click here
For rates and fees of the Blue Business Plus, click here

Featured image by Getty Images
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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  • Earn 90,000 bonus miles after you spend $4,000 in purchases on your new Card in your first 6 months.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. Payment of the government imposed taxes and fees of no more than $80 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
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  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide including takeout and delivery in the U.S., and at U.S. supermarkets.
  • Earn 1X Mile on all other eligible purchases.
  • Enjoy a per-visit rate of $50 per person for Card Members and up to two guests to enter the Delta Sky Club when traveling on a Delta flight.
  • Fee Credit for Global Entry or TSA PreCheck® after you apply through any Authorized Enrollment Provider. If approved for Global Entry, at no additional charge, you will receive access to TSA PreCheck.
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Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
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Rewards Rate

3XEarn 3X Miles on Delta purchases and purchases made directly with hotels.
2XEarn 2X Miles at restaurants worldwide, including takeout and delivery in the U.S. and at U.S. supermarkets.
1XEarn 1X Miles on all other eligible purchases.
  • Intro Offer
    Earn 90,000 bonus miles after you spend $4,000 in purchases on your new Card in your first 6 months.

    Earn 90,000 Bonus Miles
    50,000 Bonus Miles
  • Annual Fee

    $250
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent/Good

Why We Chose It

Build your loyalty to Delta by applying for the carrier's mid-tier card option, the Delta SkyMiles Platinum card. The annual fee is quickly recouped by the card's travel perks, such as an application credit to Global Entry or TSA Precheck, annual companion certificate and so much more. Plus you can fast-track to elite status simply through card spend.

Pros

  • Earn bonus Medallion® Qualification Miles (MQMs) and an Medallion Qualifying Dollar (MQD) waiver when you hit specific spending thresholds with your card within a calendar year
  • Receive a Domestic Main Cabin round-trip companion certificate each year
  • Statement credit for TSA PreCheck/Global Entry fee (up to $100)
  • First checked bag free

Cons

  • Doesn't make sense if you don't fly Delta
  • SkyMiles aren't the most valuable airline currency
  • Earn 90,000 bonus miles after you spend $4,000 in purchases on your new Card in your first 6 months.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. Payment of the government imposed taxes and fees of no more than $80 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights. Plus enjoy Main Cabin 1 Priority Boarding and settle into your seat sooner.
  • New: Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide including takeout and delivery in the U.S., and at U.S. supermarkets.
  • Earn 1X Mile on all other eligible purchases.
  • Enjoy a per-visit rate of $50 per person for Card Members and up to two guests to enter the Delta Sky Club when traveling on a Delta flight.
  • Fee Credit for Global Entry or TSA PreCheck® after you apply through any Authorized Enrollment Provider. If approved for Global Entry, at no additional charge, you will receive access to TSA PreCheck.
  • Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs up to two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees