PC Downgrading

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Vattené
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PC Downgrading

Postby Vattené » Thu Sep 11, 2014 8:51 pm

A lot of people casually mention PC'ing cards, and I am just curious about how easy this is. Will credit card companies generally let anyone PC as long as it is allowed between the cards in question (and, probably, given decent past behavior on the part of the cardmember)?

I'll use Amex as an example. I would think they're all too happy to let someone go from a PRG to a Platinum card to get more AF revenue. What if it is the other way around, though? I would guess Amex is technically within their rights to deny someone this request. If someone wants to switch from the EDP to the ED before the fee is due, they must see right through this.

I have seen people mention this like all it takes is a phone call - is it really that simple and near-guaranteed?
-Vattené
FICO-8:
EX - 805 (12/16) | TU - 803 (12/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now


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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Sep 11, 2014 9:19 pm

I have never had an Amex Platinum, but others here have reported that it is easy to make any charge card a Platinum, but requests to downgrade a Platinum into another charge card have been flatly denied by Amex. The $450 AF can only stop by closing the card.

Any new card open to replace it, though, would get the limited blessing of backdating.

I asked a Discover CSR on a recent call about the ease of potentially making an It into a Chrome, and she said it was very easy. I suppose it would probably take a cycle or two for the reward program to change, but I think they are open to it.

Yes, they do see right through it. The EDP doesn't waive the first-year fee, though, at least not unless it is part of a personalized offer. A lot of AF cards don't waive the first-year's fee.

Edit: I expect they are counting on the fact that some people will forget to downgrade, and others will stop paying the AF but will keep giving a lot of swipe fees. Plus, it's a lot easier for an issuer to stay in a good customer's wallet than to enter it. Once some people have a high-AF card, they will find rationalizations for keeping it and paying the AF in future years.

For example, I can't make up my mind about what to do with my PRG. I would not have gotten it if there was an AF the first year, or at least if there was no big bonus to join. Now that it is in my wallet, I have spent way too much time trying it know what to do with it - far more than the time is worth to me, really.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

takeshi
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Postby takeshi » Fri Sep 12, 2014 9:46 am

It really depends on the specifics. Some don't do PC's. Some creditors have policies that prevent PC's within a specific timeframe. Some allow PC's from certain products to certain products. You really can't rely on a generalization that applies to all creditors other than yes, it is as simple as a phone call when all requirements are met.

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sicasun
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Postby sicasun » Fri Sep 12, 2014 2:32 pm

It depends on the creditor and the card in question (and probably some other things too).

Just from what I've read about other people's experiences, Chase seems to allow PCs quite a bit between their own cards if you're persistent. I've seen people downgrade from CSP to the regular CS, or CS to Freedom, or Freedom to Slate (god knows why). Upgrading seems to be a more uphill battle. I've already read about people getting denied for downgrading from CSP to Freedom, etc. So it seems extremely YMMV.

Chase Sapphire Preferred | 09/2014 | $10,300
Chase Sapphire | 05/2010 | $5,000
Chase Freedom | 01/2013 | $5,500
CapitalOne Quicksilver | 01/2013 | $2,500
American Express TrueEarnings | 08/2014 | $5,500
Victoria's Secret Angel Card | 04/2011 | $600

FICO | 09/2014 | Experian 738 | Equifax 706 | TransUnion 701

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Vattené
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Postby Vattené » Fri Sep 12, 2014 3:58 pm

Interesting...

I would expect these things to be YMMV, it just comes off as a more routine procedure based on forum posts. I realize that neither my recollection of them or what people say about it are representative of reality, however.
-Vattené
FICO-8:
EX - 805 (12/16) | TU - 803 (12/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Sep 12, 2014 7:09 pm

The PC rules and guidelines will always change in part before any one person fully understands them for all major issuers. I tried to learn them all but realized no one really knows if what they were able to do or unable to do still holds true for most cases.

The one rule I haven't seen broken is that Amex charge cards don't become true credit cards, or vice versa. I consider them still charge cards, even with a pay-over-time feature.

My small effort to understand:

http://creditcardforum.com/american-express/10523-amex-product-change-rules-guidelines.html
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May



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