When looking at the cards in your wallet, you might be wondering if they could be doing more. By upgrading your credit card, you could unlock higher rewards, more benefits and other premium features. While upgrading generally results in a higher annual fee, the additional rewards and perks can offset the extra cost. Here’s how to upgrade your credit card, reasons why it makes sense and things to consider before upgrading.
How Do I Upgrade a Credit Card?
When upgrading your credit card, follow these three simple steps for the best outcome.
1. Do Your Research
To upgrade your credit card, you first must determine which card to upgrade to. Depending on your existing card, you may have different levels of upgrades to choose from. You can explore your options by reading product reviews, researching on the card issuer’s website or speaking with customer service.
2. Call Your Issuer
Once you’ve determined which credit card you want, call customer service to request an upgrade. The customer service representative will explain the benefits and fees of the new card. If you are eligible and agree to the upgrade, they’ll also read the disclosures of the new card to you before processing your request.
3. Prepare for Your New Card
Upgrading your card also generally comes with a new credit card. In most cases, you’ll keep your existing card number. Assuming that the number stays the same, you won’t need to update any auto pay charges. However, the card design usually changes to reflect the new card name. Typically, you can expect to get your physical card within two weeks.
[Read: Best Credit Cards.]
4 Reasons to Upgrade Your Credit Card
Depending on your situation and goals, there are several reasons why it makes sense to upgrade your credit card. Here are four reasons you might consider upgrading.
Your Credit Has Improved
With responsible use of credit, your score will improve over time. As your credit score increases, you may become eligible for cards with higher rewards and better benefits.
You Want to Earn More Rewards
Credit cards with higher annual fees generally offer more earning power. The value of additional rewards earned could offset the higher annual fee.
You Want Access to Better Benefits
When you upgrade, you may unlock special benefits that you can’t get with lower-level cards. These benefits may include airport lounge access and annual credits. The annual fees for airline credit cards that include lounge access are usually cheaper than buying an annual lounge membership.
Jon Nickel-D’Andrea, a travel blogger at NoMasCoach.com, encourages travelers to upgrade their cards to unlock additional benefits. “Premium cards do charge higher fees, but you can make the money back in just one or two trips if you use all of the card’s benefits,” he says. “If you value elite status, hotel cards usually include automatic elite status, and many premium airline cards accelerate elite status based on your spending.”
You Can Convert a Secured Card to Unsecured
Secured credit cards are a good way to rebuild your credit or start your credit journey. As your score improves and you build good financial habits, you might be able to upgrade to an unsecured card. Many banks automatically review your card for a potential upgrade, but you can also actively request an upgrade if you think you qualify. When your card is converted to an unsecured card, it may unlock your security deposit and enable future credit limit increases to be tied to your income and behavior.
What Upgrades Should You Consider?
Whether you’re looking for flexible rewards or elevated perks from your favorite airline or hotel, credit card issuers offer a variety of upgrade options to choose from. Worthwhile upgrades may include the following.
Upgrading Your Chase Credit Card
— Chase Sapphire Preferred® Card to Chase Sapphire Reserve® – Chase Sapphire Reserve charges a $550 annual fee, a big step up from Chase Sapphire Preferred’s $95 fee. But Chase Sapphire Reserve®’s perks include an annual $300 travel credit, Priority Pass lounge membership and higher rewards on purchases in certain bonus categories. When booking travel through Chase, your points are worth 1.5 cents each with Chase Sapphire Reserve®, while they are worth 1.25 cents each with the Preferred card.
— Southwest Rapid Rewards® Plus Credit Card to Southwest Rapid Rewards® Priority Credit Card – The Priority card charges a $149 annual fee, compared with the Plus card’s $69. The Priority Card includes a $75 annual credit on Southwest purchases, four complimentary upgraded boardings per year (when available) and 7,500 bonus points for your cardholder anniversary. It also earns three points per dollar on Southwest purchases, while the Plus card earns two points per dollar. You can also consider upgrading to the $99-annual-fee Southwest Rapid Rewards® Premier Credit Card.
Upgrading Your American Express Credit Card
— American Express® Gold Card to The Platinum Card® from American Express – While the The Platinum Card® from American Express charges a $695 annual fee to the American Express® Gold Card’s $325, it is chock full of annual credits and benefits that help to justify its cost. Cardholders also enjoy benefits such as airport lounge access, Hilton Honors Gold status and Marriott Bonvoy Gold Elite status.
— Delta SkyMiles® Platinum American Express Card to Delta SkyMiles® Reserve American Express Card – Travelers that prefer Delta Air Lines should consider upgrading to the Reserve card to enjoy its premium benefits. The Delta SkyMiles® Platinum American Express Card charges a $350 annual fee, while the Delta SkyMiles® Reserve American Express Card charges $650. The Reserve card includes complimentary Delta Sky Club and Centurion Lounge access when flying Delta, complimentary upgrades, an annual companion ticket and more.
Upgrading Your Citi Credit Card
— Citi® / AAdvantage® Platinum Select® World Elite Mastercard® to Citi® / AAdvantage® Executive World Elite Mastercard® – The Executive card charges a $595 annual fee, while the Platinum Select card charges an annual fee of $99, which is waived for the first year. Executive cardholders receive complimentary admission to Admirals Club lounges when flying with American Airlines or its partners. Additionally, they receive reimbursement for the application fee for Global Entry or TSA PreCheck up to once every four years and up to $10 per month to cover GrubHub purchases.
— Citi Double Cash® Card to Citi Strata Premier? Card – With this upgrade, you will go from paying no annual fee to paying a $95 annual fee. With the Citi Strata Premier? Card, cardholders earn three points per dollar spent at restaurants, supermarkets, gas stations and on flights and hotels plus a $100 hotel credit on eligible bookings made through Citi. Additionally, the Premier Card has access to all of Citi’s travel loyalty program transfer partners compared with just three for the Citi Double Cash® Card.
[Read: Best Rewards Credit Cards.]
What to Consider Before Upgrading Your Card
Before asking to upgrade your credit card, consider these questions first. Your answers will help you determine if upgrading your card is worth it.
Will You Use All of the Benefits?
Sharon Kurheg, a travel blogger at YourMileageMayVary.com, says that some cards “throw in a bunch of useless benefits to justify their higher annual fee, but it’s hard for most cardholders to use all of them. Make sure that you’ll actually use the benefits when comparing the benefits against the annual fee.”
A benefit’s value could depend on where you are. Travelers that live in Nashville, Tennessee, for example, have just a couple of airport lounges where they could use benefits from upgraded cards.
Does the New Card Offer the Same Bonus Categories?
If the bonus categories change, you may lose out on valuable rewards you’ve been earning with your current card.
For example, the Hilton Honors American Express Surpass® Card earns bonus points for spending at U.S. supermarkets and U.S. gas stations, while the more expensive Hilton Honors American Express Aspire Card doesn’t.
Is it Better to Close Your Card and Reapply?
By applying for a new card instead of upgrading, you may be able to earn a welcome bonus and take advantage of introductory annual percentage rate offers. However, the downside is that you’ll typically get a hard inquiry on your credit report, and closing a card can also affect your credit score. Additionally, you may not be eligible for the new card based on issuer application rules, and there’s no guarantee that you’ll be approved.
When Downgrading Might Make Sense
Upgrading your credit card offers numerous benefits if you’re in the right financial situation. Some people may be better off downgrading instead of upgrading, such as if:
— The benefits aren’t worth the annual fee. If you aren’t taking advantage of your card’s perks, it doesn’t make sense to pay the higher annual fee. Are you using the benefits because they’re included or because you actually find them valuable?
— You are struggling to pay off your debt. Consumers who are carrying a balance from one month to the next are losing a lot of money to interest charges. Downgrading to a credit card with no annual fee allows you to focus on paying off your debt. Plus, you can use the money that went toward paying annual fees to help reduce your balance.
The Bottom Line
Over time, many consumers outgrow their credit cards. By upgrading your credit card, you can unlock higher rewards and valuable benefits in exchange for a larger annual fee. Depending on how you spend and use the card’s benefits, you may be able to gain more than enough value to make up for the higher cost. Before switching to a new card, compare the benefits and fees to determine if upgrading is worth it.
For rates and fees of the Delta SkyMiles® Reserve American Express Card, See Rates & Fees.
For rates and fees of the Delta SkyMiles® Platinum American Express Card, See Rates & Fees.
For rates and fees of The Platinum Card® from American Express, See Rates & Fees.
For rates and fees of American Express® Gold Card, See Rates & Fees.
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How to Upgrade Your Credit Card originally appeared on usnews.com
Update 05/23/25: This story was published at an earlier date and has been updated with new information.
