Help needed: CC-Churning. Chase downgrade or close card?

[hameshatumkochaha]

Hi,
I started CC churning in 2019 and did not go very aggressive.  I have 1 Sapphire preferred and 2 Ink.  Sapphire now has 1st annual fee charged and Chase will not waive.  https://www.rewardexpert.com/blog/exceptions-to-the-chase-524-rule/ link says that downgrades are mostly not counted towards 5/24 rule.  Freedom card's 5% cashback is interesting IF one is not getting the downgrade count toward 5/24 rule. 
We have helpful experienced people in this forum.  Please comment on help. 
- Does the downgrade from Sapphire preferred to Freedom count toward 5/24 rule?
- Any other suggestions that could be useful? 
Thanks!

[daverobev]

Downgrading won't add +1 to your credit card apps no, because you're not applying for it, card number stays the same.

Have a look at old.reddit.com/r/churning, there is a helpful flowchart there.

[TomTX]

Do the downgrade.

[LateToTheParty]

Do you still have UR points?  Do you still plan to accrue additional UR points?  Keeping the Preferred in order to transfer to chase partners may be something that you want to do. You can then downgrade the inks when annual fees are due (unless you have high business spends and are using the premium benefits.)
There are a lot of nuances to consider if you are looking to maximize benefits.
Agree to look at Reddit subforum. Also there is a helpful travel rewards free course available in the Choose FI site. Highly recommend.

[Catbert]

I can confirm that product change from Sapphire Preferred to Freedom will not count as a "new" card. 

I agree with LateToTheParty that you should consider keeping the Sapphire Preferred.  Points are worth more (1.25 rather than 1.0 cent) if spending in their portal.  Only by having a Sapphire card can you transfer to their partners.  You can only get the bonus once every 48 months  for either of the Sapphire cards so very possibly worth keeping for at least another year while you spend UR points.

You need to get an overall long term strategy (or maybe your strategy is get bonus, spend, move on).  If you have a spouse then one of you can have a Sapphire card for 2 years then downgrade to Freedom and the other one gets the Sapphire for awhile.  UR points can be freely moved between spouses.

[hameshatumkochaha]

Thanks all for the replies!