{"id":3458,"date":"2023-01-22T23:00:54","date_gmt":"2023-01-22T23:00:54","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/01\/22\/points-of-view-should-i-cancel-or-downgrade-my-credit-card-the-points-guy\/"},"modified":"2023-01-22T23:00:54","modified_gmt":"2023-01-22T23:00:54","slug":"points-of-view-should-i-cancel-or-downgrade-my-credit-card-the-points-guy","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/01\/22\/points-of-view-should-i-cancel-or-downgrade-my-credit-card-the-points-guy\/","title":{"rendered":"Points of View: Should I cancel or downgrade my credit card? – The Points Guy"},"content":{"rendered":"


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Your credit card’s annual fee is due. For one reason or another, you’ve decided that it’s not worth paying the fee to keep your card for another year. Or maybe it’s a credit card you don’t use<\/a>, so you’re considering closing the account.<\/p>\n

Your first inclination might be to cancel your card. However, there are other options: You could downgrade or product change your card instead.<\/p>\n

Wondering what those options are and how they work? Let’s look at what goes into the decision. Then you can make an informed choice to cancel, downgrade or product change your credit card.<\/p>\n

Related: The cards TPG staffers are keeping, canceling and downgrading<\/a><\/strong><\/p>\n

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What is downgrading a credit card?<\/h2>\n

Downgrading is when you change your credit card to another card earning the same type of rewards but with a lower (or no) annual fee.<\/p>\n

Here’s an example: I previously held the United Explorer Card<\/a><\/span> but wasn’t flying United much, so the $95 annual fee (waived for the first year) wasn’t worth it to me. I downgraded this card to the United Gateway Card<\/a><\/span>, which has no annual fee.<\/p>\n

Related: When can you downgrade your credit card?<\/a><\/strong><\/p>\n

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