We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.

For more information, please see How we make money.

Have a Chase Credit Card With an Annual Fee That’s No Longer Useful? Don’t Cancel It, Do This Instead!

  • Andrew Wan

    • Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.

    INSIDER SECRET: When it comes to getting rid of a credit card that carries an annual fee, requesting a product change is the best way to simultaneously save money and keep your credit score high. 

    It’s a relatively common situation. You’ve got an annual fee on a credit card you no longer use.

    We get it — a card that was once useful may no longer fit your travel or living style. And if you’re like most people, you’d probably just cancel the card. But wait! It turns out that might not be the best thing for your credit score. Instead, request a product change to a card that has no annual fee.

    By contacting Chase for a product change, you can save money on annual fees and make sure all your on-time payments continue helping your credit score. (Photo by danielfela/Shutterstock)

    Every card issuer has slightly different rules when it comes to a product change. Here’s our guide on your options for Chase credit cards, and exactly why your credit score will thank you if you do a product change instead of canceling the card.

    Resist the Urge to Cancel

    One of the factors that goes into your credit score is the length of your credit history. Simply put, the more on-time payments you have, the more beneficial it is for your credit score.

    The amount of credit you’ve utilized is another large portion of your credit score. That’s your credit card balance divided by your total credit limit(s). The lower your credit utilization, the better it is for your credit score.

    Canceling a card means you’ll eventually lose those months of positive payment history. It will also mean your credit utilization will increase because you’d be losing that credit line. By keeping cards open, you’ll keep your credit score happy because you’ll retain all your months of on-time payments and maintain a low credit utilization.

    (And since you’ll be hanging onto the card instead of canceling it, here are a few tips you can use to stay organized.)

    Chase Product Change Options

    Each credit card issuer has different rules and treats product changes differently. Chase generally follows these three rules:

    1. You can only change to a product within the same “family” of cards (e.g. between certain cards that all earn Ultimate Rewards points, or from a Marriott personal card to another Marriott personal card)
    2. No changes between personal and business cards
    3. Account must be open at least 12 months

    Here’s a detailed list of your options for product changes. Generally speaking, you can change within these same groups of cards:

    Chase Personal Cards That Earn Ultimate Rewards Points

    Marriott Credit Cards

    Chase Business Cards That Earn Ultimate Rewards Points

    Southwest Personal Cards

    Southwest Business Cards

    United Cards

    The information for the United TravelBank card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

    Some FAQs

    As always, there are always going to be rare exceptions. But here are our answers to some frequently asked questions so you know what to expect.

    Bottom Line

    It may be tempting to just cancel a card to avoid paying the annual fee. But the best thing to do might actually be to product change to a card with no fee at all. You’ll avoid the annual fee, and by keeping that account open, you’ll also continue building a strong credit score by hanging on to those months of on-time payments.

    For more tips on the best way to handle credit cards and their rewards programs, please subscribe to the Million Mile Secrets daily email newsletter.

    Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)