topic Re: Downgrades in Credit Cards

Downgrades

-Cal- — Wed, 16 Mar 2016 03:53:22 GMT

I have a couple of cards with annual fees. Some of them pay for themselves (Prestige, Platinum, CSP, BCP, Marriott, Hyatt), some of them do not (Venture, Aviator, Green*, PRG*, SPG*).

I just downgraded my Barclay AAdvantage Aviator to the free version. I don't use it much, I only got it to get the 50k miles. I received a bonus of 5,000 miles after spending $1k on the card. Another bonus is that it will remain a WEMC.

I also got rid of my Capital One Venture card, combined that sucker with my VS QuickSilver.

I will probably be axing my Amex Green card too.

* TBD - Usage and Amex offers may offset AF

Re: Downgrades

Anonymous — Wed, 16 Mar 2016 03:59:14 GMT

You have Amex Green, Gold and Plat... BC and BCP, Why?

Re: Downgrades

Anonymous — Wed, 16 Mar 2016 04:03:40 GMT

lol right? ditch that junk green

Re: Downgrades

-Cal- — Wed, 16 Mar 2016 04:16:12 GMT

@Anonymous wrote:
You have Amex Green, Gold and Plat... BC and BCP, Why?

Platinum for benefits, concierge, travel perks, hotel benefits + 4th night free (Yes FHR offers this on some hotels during certain periods)

PRG for spend

Green allowed me to get an additional 100k signup bonus - I will be closing out the Platinum, then upgrading Green back to Platinum to retain account age.

BCP for groceries

OBC (not the same as BCE) for after my wife maxes out BCP category spend.

Re: Downgrades

takeshi74 — Wed, 16 Mar 2016 13:47:36 GMT

@-Cal- wrote:
OBC (not the same as BCE) for after my wife maxes out BCP category spend.

Seems like an odd approach but maybe there's more to it not covered in your posts. So you're also putting spend on the OBC in the meantime to exceed the $6,500 threshold to get 5% on groceries? For the first $6,500 you're only getting 1% on everyday purchases and 0.5% on other purchases.

We use a pair of BCP's. Our annual grocery spend exceeds the BCP's $6K cap but doesn't exceed $12K. Even at $12K the OBC would net $340 where a pair of BCP's would net $570 after the AF. That is, assuming my math is right. However, higher amounts of everyday spend (groceries, gas, drug stores) could certainly make the OBC a good fit.

@Anonymous wrote:
You have Amex Green, Gold and Plat... BC and BCP, Why?

Can't speak for the OP but some have a PRG and Platinum due to the difference in benefits and MR earn rates.

Re: Downgrades

Anonymous — Wed, 16 Mar 2016 16:19:13 GMT

@takeshi74 wrote:
@-Cal- wrote:
OBC (not the same as BCE) for after my wife maxes out BCP category spend.
Seems like an odd approach but maybe there's more to it not covered in your posts. So you're also putting spend on the OBC in the meantime to exceed the $6,500 threshold to get 5% on groceries? For the first $6,500 you're only getting 1% on everyday purchases and 0.5% on other purchases.

We use a pair of BCP's. Our annual grocery spend exceeds the BCP's $6K cap but doesn't exceed $12K. Even at $12K the OBC would net $340 where a pair of BCP's would net $570 after the AF. That is, assuming my math is right. However, higher amounts of everyday spend (groceries, gas, drug stores) could certainly make the OBC a good fit.

@Anonymous wrote:
You have Amex Green, Gold and Plat... BC and BCP, Why?
Can't speak for the OP but some have a PRG and Platinum due to the difference in benefits and MR earn rates.

It (as always) depends on your spend patterns and what other cards you have. So if there is enough spend on gas, the 5% on OBC rather than 3% on BCP can make OBC a better choice at lower grocery spend. And, more typically, the initial $6,500 won't be "real" spend and so you can start earning 5% very quickly

Re: Downgrades

-Cal- — Wed, 16 Mar 2016 16:59:04 GMT

@Anonymous wrote:
@takeshi74 wrote:
@-Cal- wrote:
OBC (not the same as BCE) for after my wife maxes out BCP category spend.
Seems like an odd approach but maybe there's more to it not covered in your posts. So you're also putting spend on the OBC in the meantime to exceed the $6,500 threshold to get 5% on groceries? For the first $6,500 you're only getting 1% on everyday purchases and 0.5% on other purchases.

We use a pair of BCP's. Our annual grocery spend exceeds the BCP's $6K cap but doesn't exceed $12K. Even at $12K the OBC would net $340 where a pair of BCP's would net $570 after the AF. That is, assuming my math is right. However, higher amounts of everyday spend (groceries, gas, drug stores) could certainly make the OBC a good fit.

@Anonymous wrote:
You have Amex Green, Gold and Plat... BC and BCP, Why?
Can't speak for the OP but some have a PRG and Platinum due to the difference in benefits and MR earn rates.
It (as always) depends on your spend patterns and what other cards you have. So if there is enough spend on gas, the 5% on OBC rather than 3% on BCP can make OBC a better choice at lower grocery spend. And, more typically, the initial $6,500 won't be "real" spend and so you can start earning 5% very quickly

Exactly, Platinum is for benefits and PRG is for spending/earning MR.

I don't have a lot of gas spend. The $6,500 threshold is something I'll meet once I cross the $6,000 threshold with the BCP. I have a lot of random spend so meeting that shouldn't be too difficult. I also have the SM which would get the first $250 per month after the BCP is used up.