Switching to Chase Sapphire Reserve

Switching to Chase Sapphire Reserve
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I current have a southwest premiere, a southwest plus credit card, and a Marriott credit card though chase. All three of these cards have a annual fee (around $100 each). My travel has increased with my new job, and I dont fly southwest as much anymore. I’m very interested in opening up a chase sapphire reserve card to take advantage of the 3x airlines and 3x points on dining rewards. If I do so, I would want to cancel all three of my existing cards. I have a credit score of 743, and I wouldn’t want this to have a negative impact on my credit score. If i were to open up the chase sapphire reserve, would I be able to transfer my existing lines of credit to the chase sapphire reserve?

Any recommendation or guidance would be greatly appreciated!


Hey there! My husband recently transferred some existing credit from existing Chase cards to a new Chase Sapphire Reserve, so hopefully this anecdotal evidence can be helpful to you. It’s really good that you’re continually assessing your credit cards to see if they still match your needs!

My recommendation is to not cancel all three of your current cards at once. Any time you cancel a card or apply for a new one, there’s a ding to your credit score (it’s temporary, but still a ding nonetheless). And canceling a card lowers your total available credit, which can affect your credit utilization ratio and make it easier to use more of your credit each billing cycle. This can negatively affect your credit score, too.

Start by applying for the Chase Sapphire Reserve. If your application is rejected, you can call Chase and find out why. In my husband’s case, Chase determined they had already extended him enough credit through other cards, but he asked if he could shift some of his credit out of a card he didn’t use often into the Reserve, and they said yes. So, it never hurts to ask!

If you get the Reserve and still want to cancel your other cards, space apart the cancelations. You have 30 days after the annual fee is charged to cancel and get the fee credited back to your account, so consider waiting until each fee is due (assuming it’s not all at once) to cancel the cards. Keep in mind that once your Southwest and Marriott cards are no longer open, any remaining rewards points you have with both loyalty programs will expire in 2 years, so make a plan to use up what you have left if you can.

Also, if you’re less than 6-12 months away from taking out any kind of loan (mortgage, auto, etc.), be careful about applying for or canceling credit cards. Keep your credit score as high as possible so you get favorable loan terms. Hope this helps!


One more thing – if you end up moving credit around with Chase in order to get the Sapphire Reserve, make sure this doesn’t impact your ability to be eligible for the sign-up bonus. Check with Chase customer service about this before making any moves.


It’s no fun paying annual fees on cards you’re not using, but Sara’s point is excellent–closing accounts can’t help your credit scores and may hurt them.

If you’re traveling a lot, that Marriott card should come in handy. The Marriott program now includes SPG properties, so there are a ton of ways to spend your points.

Please feel free to ask us any follow-up questions. We love helping people make the most of their credit and their cards.