Spending habits can change. You may need a higher credit limit to help pay for a large home improvement project, or you might want to earn rewards faster for an upcoming trip. If your credit card isn’t the best fit anymore, you don’t necessarily have to close it. Keep reading to learn how to upgrade your credit card so you can keep spending with confidence.  

An upgrade — also called a product change — allows you to exchange one card for another with the same issuer without closing your current account. For example, you might request to upgrade your American Airlines AAdvantage® MileUp® Card® to a Citi® / AAdvantage® Platinum Select® World Elite Mastercard®, mentioned as a great choice for frequent and occasional American Airlines flyers by thepointsguy.com. An upgrade is different from a credit limit increase, where you keep the same card, only with an increased limit.

Because you’re not closing the old card, you keep the credit history you’ve built up. This can be an advantage because the length of your credit history impacts your creditworthiness.  

If you’re looking to upgrade your card, make sure your current account is in good standing. Issuers may take your balance or history of on-time payments into consideration. You will also still need to meet eligibility and credit requirements for the new card, even if the card provider doesn’t perform a hard credit check. 

Your card provider may have other restrictions, such as the length of time your account has been open, before offering an upgrade.

Before you request an upgrade, take some time to decide which card you want. Look at what cards the issuer offers and consider what matches your spending habits. For example, if you spend a lot on gas and groceries, you might want a card that lets you earn more points on those purchases.

There are typically 2 ways to earn an upgrade:

Contact the credit card company: To request an upgrade, contact the card provider by calling the number on the back of your card. You may also be offered a promotional upgrade via email or the issuer’s mobile app.

Automatic upgrades: Some cards are upgraded automatically. For example, if you have a secured credit card and demonstrate responsible credit use over a certain period, the card provider may automatically upgrade the card to an unsecured card.

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Pros and cons of upgrading your credit card

Here are a few benefits and drawbacks to consider when upgrading your card. 

A new card may allow you to earn more points or miles on everyday purchases, letting you build rewards faster

Some higher-tier cards offer perks like airline lounge access or statement credits on certain purchases

You may be offered a higher credit limit with some cards

If you upgrade your card, you might not be eligible for welcome offers or other intro offers you might get if you apply for a new card

When you upgrade your card, your account number may change, so you’ll have to update information for any automatic payments you’ve set up

The new card may come with an annual fee to pay for the extra perks of being a cardmember

Upgrading your card can be a great way to access more rewards without having to go through a lengthy application process. However, a higher-tier card means using your card responsibly is more important than ever. Keeping track of statements and making payments on time will help you take advantage of the new perks you earn from an upgraded card. Take a look at your options if you’re ready to upgrade. A quick conversation with your card provider may open a world of opportunity.

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.