Can I downgrade my Chase Ink Business Preferred card?

To initiate a Chase Ink Business Preferred downgrade, call customer service at 1 (800) 432-3117 or send a secure message from an Ink Business Preferred online account. Chase does not have a dedicated webpage for product changes, which is another name for upgrades or downgrades.

The Ink Business Preferred account must be open for at least 12 months to qualify for a downgrade. To get a full refund on the Ink Business Preferred’s $95 annual fee, a cardholder will need to complete the downgrade within 30 days of paying the fee. Chase allows only partial refunds for downgrades after 30 days. The refund amount is based on the number of calendar days since you paid the annual fee.

Should you decide to downgrade from the Ink Business Preferred card, it’s important to know that Chase only permits product changes within the same product family, or type of card.

In other words, you can’t downgrade from Ink Business Preferred to consumer cards like Sapphire Preferred or to co-branded airline or hotel cards. This means the only cards eligible for a product change are Ink Business Cash or Ink Business Unlimited.