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Credit Cards Cancel or downgrade card

Discussion in 'questions. answers. conversations.' started by GBOAC, Jan 20, 2018.

  1. GBOAC

    GBOAC Member

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    Since I quite unexpectedly earned United Premier Silver status this year, I see no need to keep my United Mileage Plus Explorer card (I also have the Reserve and Freedom Unlimited card) once the annual fee is charged. Is it better to cancel the card or downgrade it to a card without a fee to keep the credit history and credit limit associated with the card. I will have had that card for just over 3 years so not a lot of history associated with it.
    Are there recommended practices to follow when considering canceling cards.
     
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  2. rickyw

    rickyw Well-Known Member

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    Well, I don't think there are any United no fee cards, so not sure what you'd be able to downgrade to.

    I'd just call and cancel. If you have considerable amount of spend on the card the past couple years, Chase may give you retention offer that may be worthwhile. This could range from anything to bonus points to waiving the fee.

    If you do cancel, you may be able to ask Chase to transfer the credit limit to one of your other Chase cards.
     
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  3. Gaurav

    Gaurav Well-Known Member

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    There actually is a no-fee United card that you can downgrade to. It earns at 0.5miles/$ and still gives access to expanded inventory at UA.com so it might be worth it if you'd like to keep your credit history.
     
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    MidSouth Skier and rickyw like this.