This allows you to reapply for the other premium sapphire card which means that you ll earn the opening bonus. By downgrading the sapphire preferred card to the chase freedom unlimited i kept the four year account and the 8 000 credit limit intact. However if you downgrade a chase sapphire reserve or preferred card to a chase freedom or freedom unlimited card you will lose the ability to transfer those points to hotel and airline partners unless you have another like the.
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