A credit card product change (also called a product switch or card conversion) is when you change from one credit card to another within the same bank, without closing your account. Your account number stays the same, your credit history is preserved, and your credit limit is maintained — only the card type changes.
This is often the smarter alternative to cancelling a card and opening a new one, particularly when you want to avoid a high annual fee but don’t want to close the account.
Why Product Change Instead of Cancel?
| Action | Credit Score Impact | Annual Fee Savings | Welcome Bonus |
|---|---|---|---|
| Product change | None — account stays open | Yes | No |
| Cancel + new card | Temporary score drop | Yes | Yes (new card bonus) |
| Keep card open | None | No — still paying fee | No |
The case for a product change:
- You’ve had the card for many years and want to keep that credit history
- You don’t want to reduce your total available credit (which raises utilisation)
- You’re approaching a major loan application (mortgage, car) and don’t want a hard inquiry
- You want to stop paying an annual fee without closing the account
The case for cancelling and applying for a new card:
- A competing card has a large welcome bonus worth more than the credit score impact
- You don’t need the credit history continuity
- You want a different card network (Visa vs. Mastercard vs. Amex)
How to Request a Product Change
- Call the number on the back of your card and ask to speak with the credit card or retention department
- Specify: “I’d like to do a product switch to [target card]”
- The representative will tell you which cards are available for switching
- If approved, you typically receive a new card in the mail within 5–10 business days
- The account number may stay the same or change slightly (last digits may differ for new card tracking)
Online options: Some banks (TD, RBC, Scotiabank) allow product change requests through secure message in online banking. Call if you need immediate confirmation.
Common Product Change Paths at Canadian Banks
TD Bank
TD’s credit card lineup allows switches between Visa products:
| From | To |
|---|---|
| TD Aeroplan Visa Infinite ($139) | TD Cash Back Visa Infinite ($139) |
| TD Aeroplan Visa Infinite ($139) | TD Rewards Visa ($0) |
| TD First Class Travel Visa Infinite ($139) | TD Aeroplan Visa Infinite ($139) |
| Any TD Visa card | TD Platinum Travel Visa ($89) |
Tip: TD often allows switching to the no-fee TD Rewards Visa to avoid annual fees while keeping the account open.
Scotiabank
Scotiabank allows switches within the same network (Visa or Amex):
| From | To |
|---|---|
| Scotiabank Passport Visa Infinite ($150) | Scotiabank Value Visa ($29) |
| Scotiabank Gold Amex ($120) | Scotiabank Amex ($0) |
| Scotiabank Momentum Visa Infinite ($120) | Scotiabank Momentum No-Fee Visa ($0) |
RBC
RBC allows product switches within their Visa and Mastercard lineups:
| From | To |
|---|---|
| RBC Avion Visa Infinite ($120) | RBC Avion Visa Platinum ($99) |
| RBC WestJet World Elite Mastercard ($119) | RBC WestJet Mastercard ($39) |
| Any RBC Visa | RBC ION Visa ($0) |
CIBC
CIBC allows switches within their Visa lineup:
| From | To |
|---|---|
| CIBC Aventura Visa Infinite ($139) | CIBC Aventura Visa ($0) |
| CIBC Dividend Visa Infinite ($120) | CIBC Dividend Visa ($0) |
| CIBC Aeroplan Visa Infinite ($139) | CIBC Aeroplan Visa ($0) |
American Express
Amex allows product changes within their card lineup — one of the most flexible in Canada:
| From | To |
|---|---|
| Amex Platinum ($799) | Amex Gold Rewards ($250) |
| Amex Gold Rewards ($250) | Amex Cobalt ($156) |
| Amex Cobalt ($156) | Amex Green ($0) |
| Any Amex MR card | Amex Simply Cash ($0) |
Amex advantage: Because Amex MR points live in your programme account (not on the card), switching between MR-earning cards preserves your points balance — unlike some bank-specific programmes that may expire points on downgrade.
Timing Your Product Change
Best time to request:
- Just after your annual fee posts — some issuers will refund a partial or full annual fee if you switch within 30–60 days of it being charged
- Before a credit application — a product change preserves your credit profile better than cancelling
Annual fee refund policy:
If your annual fee recently posted, ask whether a product change to a no-fee card qualifies for a fee refund. Policies vary:
- TD: Typically prorates the fee if you switch within 90 days
- Scotiabank: May refund if switching within 30 days of fee
- CIBC: Case-by-case basis — ask directly
- Amex: Usually refunds the prorated remaining months
What Happens to Your Rewards During a Product Change
This varies by programme:
| Programme | On Product Change |
|---|---|
| Aeroplan | Safe — points stay in your Aeroplan account regardless of card |
| Scene+ | Safe — points stay in your Scene+ account |
| Amex MR | Safe if switching to another MR card; expire if switching to Simply Cash |
| TD Rewards | May expire — redeem before switching away from TD Rewards cards |
| BMO Rewards | May expire — redeem before switching |
| CIBC Rewards | May expire — redeem before switching |
| RBC Avion | Safe if staying in Avion programme |
| WestJet Dollars | Safe — live in WestJet Rewards account |
Action before switching: Log in and redeem or note your points balance. Confirm with the issuer whether points carry over or expire.
Related Articles
- How to Cancel a Credit Card in Canada
- Credit Card Basics — Canada Guide
- How Credit Scores Work in Canada
- Best No Annual Fee Credit Cards in Canada
- Best Rewards Credit Cards in Canada
Product change availability and annual fee refund policies vary by issuer and are subject to change. Verify current policies with your bank before requesting a switch. See our Advertiser Disclosure.