How to Downgrade to the Citi Double Cash Card

How to Downgrade to the Citi Double Cash Card

Million Mile SecretsHow to Downgrade to the Citi Double Cash CardMillion Mile Secrets Team

Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Capital One, Chase, and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners.

Million Mile Secrets Reader Kevin writes:

I’m considering downgrading my Citi AAdvantage Platinum Select World Elite Mastercard to the Citi Double Cash card.  How does this work?  Do they pull your credit report?

Kevin can call Citi to convert his Citi American Airlines Platinum card to the Citi Double Cash card, if he’s had the card for at least 12 months.   And Citi shouldn’t need to make another hard credit inquiry.

How To Downgrade To The Citi Double Cash Card
But If He Converts to the Citi Double Cash Card, the Bank Won’t Give Him a Sign-Up Bonus!

Citi Double Cash Card

Link:   Citi Double Cash Card

Link:   My Review of the Citi Double Cash Card

With the Citi Double Cash card, Kevin can earn 1% cash back on purchases and another 1% cash back on payments.

Other card benefits include:

  • NO annual fee
  • NO spending categories (you earn cash back on all spending)
  • NO limit on the amount of cash back you can earn

Why Downgrade to the Citi Double Cash Card?

Link:   Why Everyone Should Have a NO Annual Fee Card

Link:   Does Cancelling a Card Hurt Your Credit Score? 

Kevin has decided that his Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® is no longer worth the $95 annual fee.  So what should he do next?

1.   Try for a Retention Bonus

Kevin can 1st call Citi’s Retention Department at 800-444-2568.  He could say he wants to cancel his Citi American Airlines Platinum card because he doesn’t want to pay the annual fee.  The representative may make him an offer to keep his business.

According to the Flyertalk thread on Citi retention bonuses, many folks have been offered a $95 statement credit and 1,000 American Airlines miles when they spend $1,000 on 1 statement with in the next 16 billing cycles.  This more than makes up for the annual fee.

Kevin can use this information to evaluate any offer he gets from Citi.  If Citi gives him a bonus he likes, he should keep the card.

2.   Cancel or Downgrade?

But if Kevin isn’t given a bonus offer or isn’t satisfied with his offer, he can either cancel the card or switch it to another Citi card with NO annual fee, like the Double Cash card.

Canceling the card can reduce the age of his credit history over time and banks don’t like it when you frequently open and close accounts.  So the better option may be to convert to the Citi Double Cash card.  Just call the number at the back of your existing Citi card and ask to convert the card.

Citi typically won’t allow you to convert your card if it hasn’t been open for at least 12 months.  So Kevin should keep this in mind.

How To Downgrade To The Citi Double Cash Card
The Citi Double Cash Card Has No Annual Fee, Which Means Kevin Never Has to Cancel It. This Will Help Him Build Trust With the Bank!

By converting his Citi American Airlines Platinum card to the Citi Double Cash card, Kevin can begin establishing a long-term relationship with Citi.

If the annual fee on his Citi American Airlines Platinum card will be due within 2 months, Kevin should remind the representative to give him a credit for it.  That’s because it takes 51 days for Citi to convert cards.

He also gets to keep his line of credit, which is good for his credit utilization ratio (the amount of credit you’re using compared to the total credit available to you).  This will give him a higher credit score.

Will Citi Pull Your Credit Report?

Because Citi has already approved Kevin for the credit line he has with the Citi American Airlines Platinum card, Citi will NOT complete another credit inquiry when he converts to another card.

His original account information will be transferred to the new card.

Drawback to Converting to Citi Double Cash

While converting to a no annual fee card like the Citi Double Cash card is a smart choice, Kevin should be aware that he won’t get a sign-up bonus.

While there is currently no public offer for a sign-up bonus, some folks are receiving targeted offers in the mail.  Kevin can’t get a sign-up bonus unless he completes a new application.  And in that case Citi WOULD pull his credit report.

Bottom Line

If you have a Citi card you feel is not worth the annual fee, you may be able to downgrade it to the Citi Double Cash card.  You typically must have the Citi card you’re converting for at least 12 months before you can convert to another card.

However, you should see if Citi will offer you a retention bonus.  This may make up for the annual fee and enable you to keep the card for another year.

Converting to a no annual fee card does NOT require a new credit pull and may be a better option than closing your account.  That’s because you can keep your credit line and you never have to cancel the card.  This helps you build a long-term relationship so you can get approved for more cards in the future!

If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Editorial Disclaimer: Neither the editorial content nor the comments on this site are provided by the companies whose products are featured. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser.

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.


by Newest
by Best by Newest by Oldest

I called citi to request a product change from my Citi Premiere to

Thank You Preferred to avoid the $95 annual fee and preserve my $10000 credit line and my 11000 Thank You points. Citi rep said he could do that but it would involve a hard pull to make the product change. He said that is a recent change caused by some new government regulation and now all product changes require a hard pull. I did the exact same product change for my wife 5 months ago and was assured no hard pull was involved. Has anyone heard of this change recently or is this rep misinformed?

Just tried to convert my AAdvantage Platinum MasterCard to the Double Cash card (called the number on the back of my card) and was told the only card I could convert to was the AAdvantage Executive Platinum card. I told the rep that I didn't want a card with an annual fee anymore, as I wasn't getting $95 worth of value from the card. When he said there was "nothing he could do" I said that I'd had this card for thirteen years and that Citibank would rather I cancel my account than convert to another? He didn't have a response for that other than my account was not eligible for conversion. Found this site, called 1-800-950-5114 and was immediately told my account was eligible for conversion and in 51 days I will have a new Double Cash card. Good grief, credit card companies are shifty!

I called the number on the back of my ThankYou Preferred Card last month and was told that I could not convert the account. I just called 1-800-950-5114 and had no trouble doing the conversion.

I too converted my ThankYou Preferred to Double Cash with a phone call to 1-800-950-5114. I will see about moving some of the CL from my Siplicity card (which could NOT be converted) to this when i get the card.

I too converted my ThankYou Preferred to Double Cash in less than 5 min.

Load more