A Reddit user is contemplating downgrading their credit card to avoid annual fees after maintaining a positive payment history for several years. Downgrading allows users to keep their credit history intact while switching to a card with lower or no fees. However, not all card issuers permit downgrades, and users should consider potential downsides like losing rewards or lowered credit limits. Weighing the pros and cons of either downgrading or closing the account is crucial before making a final decision.
Downgrading a credit card can help save on fees while preserving credit history, but it's essential to check with the issuer for specific policies.
If you're permitted to downgrade, be aware that you may lose accrued rewards and possibly have a lower credit limit on your new account.
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