A product change is swapping an existing card for a different one from the same issuer without closing the account and reapplying.
A product change is swapping an existing card for a different one from the same issuer without closing the account and reapplying.
Also called: Downgrade.
How it works#
The change preserves account history and usually the credit line, avoiding the drawbacks of cancelling. Moving to a no-fee card from the same issuer is the common destination once the benefits stop covering the fee. The key question is what happens to points already earned: if they sit in the card’s own programme rather than with the issuer, a change can wipe them out.
Not to be confused with#
A product change is not the same as cancelling: cancelling ends the account, while a product change keeps it open under a different name.
In German#
The German term is Produktwechsel. German version of this term
Related terms#
- Annual fee: An annual fee is the fixed yearly price of holding a card, charged regardless of how much is spent on it or which benefits are used.
- Losing points when closing a card: Losing points when closing a card describes the forfeiture of a balance held in the issuer’s own programme as soon as the account is shut.
- Credit limit: A credit limit is the maximum balance a card account may carry between statements.
Articles that use this term#
TopicEvery article and term onCards and money.