approval

Product Change

Credit Card Product Change

Definition

Same as downgrade, converting one card to another in the same family without applying for a new card. Chase calls this a 'product change.'

Why it matters

Chase Sapphire Preferred ↔ Reserve product changes preserve UR points. Sapphire-family-to-Freedom-family product changes require keeping the card 12+ months first.

Related terms in approval

5/24 Rule

Chase will decline new credit card applications if you've opened 5 or more credit cards from any issuer in the past 24 months. Includes business cards from some issuers.

BIS

Business credit cards. From most major issuers (Chase, Amex, Citi, Cap One), business card applications don't appear on your personal credit report, so they don't count against 5/24 or other personal-card limits.

Lifetime Language

Amex's policy: you can only earn the welcome bonus on a given card 'once per lifetime' per the application terms. Different Amex cards have different lifetime rules.

Pop-Up

A warning screen that appears during an Amex application stating you're not eligible for the welcome bonus on this card. Effectively a soft-decline of the bonus, not the card.