What happened
This article provides a comprehensive guide on downgrading credit cards to lower annual fees. It explains that downgrading typically avoids a new credit inquiry and preserves account history. Key details include American Express's general one-year waiting period to avoid losing rewards, restrictions on downgrading between personal and business cards, and the requirement to stay within the same card family (e.g., Delta, Hilton, Marriott). It also notes that welcome bonus eligibility may be affected by downgrading