If you initiate a chargeback, your account will not revert back to a Basic Membership. Instead, your account will be suspended from Squirt.org, and can only be reactivated if you reverse the chargeback with your bank.
If you’d like to revert your Fan Club Membership back to a Basic Membership, you can do so by cancelling your auto-renewal. Please note there are no refunds for Fan Club Memberships once your subscription activates.