What To Know
- Whether you’re seeking a more budget-friendly option or your travel habits have changed, this guide will provide you with a step-by-step process and valuable insights to help you make an informed decision.
- If you’re looking to save money, downgrading to a card with a lower annual fee or no annual fee can help reduce your expenses.
- You may be able to product change to a different Chase card with similar benefits but a lower annual fee.
Are you considering downgrading your Chase United Explorer Card? Whether you’re seeking a more budget-friendly option or your travel habits have changed, this guide will provide you with a step-by-step process and valuable insights to help you make an informed decision.
Understanding the Chase United Explorer Card
The Chase United Explorer Card is a popular travel rewards credit card that offers benefits such as:
- 2x miles on United purchases and dining
- 1x mile on all other purchases
- Free checked bags for up to 5 people on United flights
- Priority boarding
- United Club℠ lounge access for cardholders with Premier status
Reasons for Downgrading
There are several reasons why you might consider downgrading your Chase United Explorer Card:
- Reduced travel: If you no longer travel frequently, the annual fee of $95 may not be worth the benefits you receive.
- Changes in travel habits: If you’ve switched to a different airline or your travel patterns have changed, you may not be maximizing the card’s benefits.
- Budget concerns: If you’re looking to save money, downgrading to a card with a lower annual fee or no annual fee can help reduce your expenses.
How to Downgrade Your Chase United Explorer Card
Downgrading your Chase United Explorer Card is a straightforward process:
1. Contact Chase Customer Service: Call the Chase customer service number (1-800-432-3117) or chat with a representative online.
2. State Your Intention: Inform the representative that you would like to downgrade your Chase United Explorer Card.
3. Choose a Downgrade Option: You will be presented with a list of eligible downgrade options to choose from.
4. Provide Necessary Information: The representative may ask for your card number and account information to verify your identity.
5. Confirm the Change: Once you have selected a downgrade option, the representative will confirm the change and provide you with an effective date.
Eligible Downgrade Options
Chase offers several downgrade options for the United Explorer Card, including:
- Chase Freedom Unlimited: No annual fee, 1.5% cash back on all purchases
- Chase Freedom Flex: No annual fee, 5% cash back on rotating categories, 1% on all other purchases
- Chase Sapphire Preferred: $95 annual fee, 2x points on travel and dining, 1x on all other purchases
- Chase Ink Business Unlimited: No annual fee, 1.5% cash back on all business purchases
Choosing the Right Downgrade Option
The best downgrade option for you depends on your individual needs and spending habits:
- Cash back: If you prefer cash back over travel rewards, the Chase Freedom Unlimited or Chase Freedom Flex are excellent options.
- Travel rewards: If you still travel occasionally and want to earn travel rewards, the Chase Sapphire Preferred is a good choice.
- Business expenses: If you have business expenses, the Chase Ink Business Unlimited offers 1.5% cash back on all purchases.
Alternatives to Downgrading
If you’re not ready to downgrade your Chase United Explorer Card, consider these alternatives:
- Product Change: You may be able to product change to a different Chase card with similar benefits but a lower annual fee.
- Negotiate: Call Chase and ask if they can waive or reduce the annual fee on your United Explorer Card.
- Cancel the Card: If you’re not using the card at all, you can simply cancel it and avoid paying the annual fee.
Takeaways: Making the Right Choice
Downgrading your Chase United Explorer Card can be a smart move if it aligns with your financial goals and travel habits. By carefully considering the reasons for downgrading, choosing the right downgrade option, and exploring alternatives, you can ensure a smooth transition while maximizing your credit card benefits.
Information You Need to Know
Q: Will I lose my accumulated miles if I downgrade my card?
A: No, your accumulated miles will remain in your account and can be used with your new card.
Q: Can I downgrade my card online?
A: No, you must contact Chase customer service to downgrade your card.
Q: How long does it take to downgrade my card?
A: The downgrade process typically takes 3-5 business days to complete.
Q: Can I upgrade back to the Chase United Explorer Card after downgrading?
A: Yes, but you may be subject to a new application and credit check.
Q: What are the benefits of downgrading to the Chase Freedom Unlimited?
A: The Chase Freedom Unlimited offers no annual fee and 1.5% cash back on all purchases.
