How to Change a Credit Card Product

What annual fees do the card products carry?

The published fee schedules are the first thing to read, because they show how far apart two products from the same issuer can sit. The table below takes the annual fees listed by three issuers, as of 18 October 2026.

Three of those schedules change after the first year: the Citi/AAdvantage Platinum Select moves from a $0 intro annual fee to $99 [3], the Citi/AAdvantage Business card moves from a $0 intro annual fee to $99 after the first year [3], and the American Express Membership Rewards Credit Card goes from Rs 1,000 in the first year to Rs 4,500 in the second [4]. A downgrade decided on the first-year number alone can therefore land on a higher fee later. Chase also lists the United Explorer card with a $0 intro annual fee [2].

What happens to your points when you change products?

Points belong to a rewards programme, and the programme rules attached to the account decide what survives. For Chase's Ultimate Rewards programme, the agreement for the Ink Business Preferred card says points do not expire as long as the account is open [6]. The same agreement says you immediately lose all your points if your account status changes, or if the account is closed for misuse, fraud or any of the reasons it lists — for example failing to comply with other Chase agreements, or Chase believing you may be unwilling or unable to pay your debts on time [6].

If the account is closed for any other reason, the agreement gives at least 30 days from the closure date to use the points; after that they are lost unless the law limits or prohibits that, in which case unused points are automatically redeemed for cash as an account statement credit [6]. The agreement also states that points are not your property and have no value until they are redeemed [6].

Points can be moved between Chase cards, but only in one direction set by the agreement: to another Chase card with Ultimate Rewards belonging to you or to one member of your household, or for a business account to the owner of the company [6]. No move is allowed if either account is barred from earning or using points at the time [6].

At American Express, the card page for the Indian market says Membership Rewards points never expire until the card is closed [4]. The US Membership Rewards terms describe how points leave the programme: before you can transfer to an airline or hotel partner you must link the partner account, the transfer cannot be reversed, and the partner programme's own terms then govern the points [7].

How do you choose a lower-cost card?

1. Start from the issuer's own fee list for your market. The figures above are dollar amounts shown on the Chase and Citi sites for the United States and rupee amounts shown on the American Express site for India, so they are not comparable across markets [2] [3] [4].
2. Compare the second-year fee, not just the intro fee. The Citi/AAdvantage Platinum Select ends its $0 intro year at $99 [3], and the American Express Membership Rewards Credit Card rises from Rs 1,000 to Rs 4,500 in year two [4].
3. Check that the rewards balance can follow you. At Chase, points can move only to another Chase card with Ultimate Rewards that belongs to you or a household member [6]. At American Express, a transfer out to a partner is one-way and then subject to the partner's terms [7].
4. Read what each product earns before you give it up. The Ink Business Preferred agreement sets 1 point per $1 spent, with 3 points per $1 on combined purchases in shipping, social media and search engine advertising, travel, and internet, cable and phone services each account anniversary year up to a cap, then 1 point per $1 after that [6]. Chase separately lists Ink Business Cash, with no annual fee, as earning 5% cash back in select business categories [2].
5. Read the conditions attached to any welcome offer. The American Express India page ties each welcome gift to the first year of cardmembership, to payment of the annual fee and to spending a set amount within 90 days: INR 15,000 for the Platinum Travel card and INR 30,000 for the Platinum Reserve card [4].

Exceptions and limits

• What the agreement treats as misuse. Examples in the Ultimate Rewards agreement include repeatedly opening or otherwise maintaining credit card accounts to generate rewards, buying or selling points, and manufacturing spend to generate rewards [6]. Chase may temporarily stop you earning or using points while it suspects misuse, and earning and using resumes in the next billing cycle after the account is brought current or the suspicion ends [6].
• Negative balances. Points are earned at the close of each monthly billing cycle, minus returns and refunds, so a cycle with more refunds than purchases can leave a negative points balance [6].
• Transferring Ultimate Rewards out. Transfers go in 1,000-point increments, only to participating frequent travel programme accounts belonging to you or to an owner of the company listed as an authorised user; a transfer fee may apply, and most requests process by the next business day but can take up to 7 business days [6].
• Transfer fees and minimums at American Express. The US Membership Rewards terms list an excise tax offset fee of $0.0006 per point, up to $99, for points transferred to a US airline frequent flyer programme; in most cases at least 1,000 points must be transferred in multiples of 1,000, and transfers typically take 48 hours [7].
• Market conditions. The American Express fee figures are those published for India and are stated plus applicable taxes [4]; the Chase and Citi figures are the dollar amounts shown on their United States card sites [2] [3].

Frequently asked questions

Do Chase Ultimate Rewards points expire while the account stays open?

Under the Ultimate Rewards programme agreement for the Ink Business Preferred card, points do not expire as long as the account is open [6]. The agreement also says all points are lost immediately if the account status changes or the account is closed for misuse or fraud [6].

Can I move Ultimate Rewards points to a card held by my partner or a family member?

A move is allowed only to another Chase card with Ultimate Rewards belonging to you or to one member of your household; for a business account, to the owner of the company [6].

What happens to Membership Rewards points if the card is closed?

The American Express card page for India says Membership Rewards points never expire until the card is closed [4].

Is there a fee to send Membership Rewards points to an airline?

For points transferred to a US airline frequent flyer programme, the US Membership Rewards terms list an excise tax offset fee of $0.0006 per point, capped at $99 [7]. Once transferred, the points cannot be converted back [7].

Which of the listed products charge no annual fee?

Chase lists Freedom Unlimited, Freedom Flex, Ink Business Unlimited and Ink Business Cash with no annual fee [2], and Citi lists Double Cash, Strata, Simplicity, Diamond Preferred and AAdvantage MileUp with no annual fee [3]. The Costco Anywhere Visa by Citi carries no annual fee with a paid Costco membership [3].

Related pages

Background: card product change, card annual fee, credit card points. Choosing between products: card selection framework. Full index: frequent flyer glossary.

Sources

Sources checked on 18 October 2026. This guide covers Chase and Citi card products listed on their United States sites and American Express card products listed for India; other issuers, and American Express cards in other markets, are outside its scope.

1. Chase credit card comparison page, checked 18 October 2026
2. Citi credit card comparison page, checked 18 October 2026
3. American Express India credit cards page, checked 18 October 2026
4. Ink Business Preferred with Ultimate Rewards program agreement, checked 18 October 2026
5. American Express Membership Rewards program terms and conditions, checked 18 October 2026