I have had the Marriott Rewards Chase VISA for over 5 years. I would like to change to the premier card because it clearly offers better incentives versus the standard card. However, I cannot seem to get a straight answer from Chase/Marriott Rewards whether I will be eligible because I am already a cardholder. Do I cancel my current card and reapply?
See this post:
There seems to be mixed experiences. Some people were able to switch and others had to get a new card and cancel the old one.
If you didn't get an "invitation" from Chase to upgrade your card, apply for the "better" card.
Call the customer service number on the back of your current card. Maybe it can be done with the exising account over the phone.
I would not close the old one. Just don't use it as your regular card. (Keep it for emergencies.) Closing credit cards puts a "ding" on your credit score-lowering the score.
I upgraded 3 or so years ago. I got a different answer evertime I called Chase so I cancelled the card and re-applied. I received all of the bonuses doing it that way. If I remember 30K points, free round of golf, 1 hotel night free and then you get 15 nights every year to start your account off toward elite status. Good luck
If they can give you the signup bonus for "upgrading" the card, then go that route. Otherwise, I say apply for the new card to get the maximum signup bonus of 70K points for the Premier credit card. Once you get the new card, I would cancel the old one. Whether it affects your credit score dramatically will depend on your total credit lines open and the limit on the current card. If it's just a small percentage, you probably won't be affected much.