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Has anyone had any experience doing a product change from BCE to BCP? I was approved for BCE last week (don't know the limit yet because I have not called and have not gotten the card yet) but I really started thinking that the BCP would be better for me than the BCE. I got the PRG card with the intent to use it like I did my Zync (ran everything that I could through it). But, in all honesty, I really think the cash back is better for me (currently) than the reward points. I will keep the PRG open because it has no AF for a year, but I would really much rather use the BCP. I can justify the BCP AF over the BCE, because I at least spend $150 per week on groceries (so $468 cash back per year rather $234 with the BCE). Right now, I am using the Freedom card for gas and groceries with the 5% back, but when that is over, I am back down to 3% cash back with the BCE (or 3% reward points). So, is it too early to request a product change? Is the BCP any more difficult to get than the BCP?
BTW, my Experian fico is 687.
@Anonymous wrote:Has anyone had any experience doing a product change from BCE to BCP? I was approved for BCE last week (don't know the limit yet because I have not called and have not gotten the card yet) but I really started thinking that the BCP would be better for me than the BCE. I got the PRG card with the intent to use it like I did my Zync (ran everything that I could through it). But, in all honesty, I really think the cash back is better for me (currently) than the reward points. I will keep the PRG open because it has no AF for a year, but I would really much rather use the BCP. I can justify the BCP AF over the BCE, because I at least spend $150 per week on groceries (so $468 cash back per year rather $234 with the BCE). Right now, I am using the Freedom card for gas and groceries with the 5% back, but when that is over, I am back down to 3% cash back with the BCE (or 3% reward points). So, is it too early to request a product change? Is the BCP any more difficult to get than the BCP?
BTW, my Experian fico is 687.
Both cards have the same approval criteria, call them
AmEx: 800-567-1083
Hopefully they can help!
AMEX does not allow PC into higher AF card within first year due to CARD Act.
You will not be able to product change from the BCE to the BCP for atleast 12 months. This is not due to some Amex policy, but some new law (CARD Act maybe) passed a few years ago that does not allow lenders to raise fees on accounts for the first year. It's unfortunate, but if you want the BCP you will either have to wait or submit a new app.
Ahhhh crap oh well.... I guess I will use the PRG for a while and then product change in a year. I submitted 2 Amex apps already this month I won't be going for a third... Thanks for the help. The CARD act is stupid because I WANT the change to happen. I can understand a company initiating the change, but if I want the change initiated I should be allowed to. Gov't needs to take a step back a little and let the consumer do as they please, especially if it is putting more cash in my pocket!!!!
You can have both BCE and BCP at the same time. Not sure your fico scores are good enough to app for BCP, but you can try its only a SP if it fails. If you are approved you call and talk to a credit analyst and see if he can transfer your balance and possibly your credit limit from bce to bcp, Then close the BCE.
@jamesdwi wrote:You can have both BCE and BCP at the same time. Not sure your fico scores are good enough to app for BCP, but you can try its only a SP if it fails. If you are approved you call and talk to a credit analyst and see if he can transfer your balance and possibly your credit limit from bce to bcp, Then close the BCE.
The other guy was saying that the criteria is the same. Either way, I don't want to add another HP to my report (I already have 2 from Amex this month). I think a third will probably be excessive. I'll give it a year (or 6 months if I get impatient) and either wait it out or app in 6 months. Thanks for all the responses though!
Since you haven't even received the card yet & it hasn't been activated maybe there's a way yo get around the CARD Act. It's worth a phone call to Amex to find out.
Also, as a side note Freedom bonus category this quarter is restaurants not groceries.
Where did you get your EX score from? I feel like perhaps it's a Fako since 687 seems low for BCE approval.
@LilNYC wrote:Since you haven't even received the card yet & it hasn't been activated maybe there's a way yo get around the CARD Act. It's worth a phone call to Amex to find out.
Also, as a side note Freedom bonus category this quarter is restaurants not groceries.
Where did you get your EX score from? I feel like perhaps it's a Fako since 687 seems low for BCE approval.
You're right, restaurants and gas... forgot. Oh well. Even more of a reason to change ASAP haha. When the card comes in, and before I activate it, I will give them a call to see if it is possible. When I do, I will let you know how it goes.
So I called before I activated and could not PC before activation. Mentioned that I app'd for BCE, and not BCP so going to BCP despite activation is a product change because the account was already created for BCE from the application. No biggie cause Amex LOVES me and gave me a starting CL of $7,500!!!! So I can hopefully up that to 22,500 in 61 days which will definitely help on my utilization from my student loans and give me a score boooooost! =) =) =)