topic Re: Upgrading BCE for BCP.. in Credit Cards

Upgrading BCE for BCP..

Anonymous — Wed, 21 Mar 2018 22:33:56 GMT

I have an offer on my account to upgrade to the blue cash prefered, with 250 back with 2000 spend in 90 days.

Can I accept this offer and downgrade after the year? Mostly want it for the 250, and the 6 percent back is nice, but I don't need another annual fee card.

The Amex rep said I can downgrade no problem. Just want to confirm this is true. They also said my APR remains the same, statement dates, numbers etc..

I hope so cause I got that 6.99 apr for the next year

Re: Upgrading BCE for BCP..

Anonymous — Wed, 21 Mar 2018 22:47:24 GMT

AMEX has recently changed rules when it comes to bonus and downgrading/closing cards. I would double check. On the other hand, if you spend the $6k/year in groceries, the AF is nothing compared to what you get in cash ($265). BCP is a keeper!! AND that's not including the 3% on gas.

Re: Upgrading BCE for BCP..

Anonymous — Wed, 21 Mar 2018 23:16:34 GMT

If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

Re: Upgrading BCE for BCP..

jlitnns — Wed, 21 Mar 2018 23:25:09 GMT

@Anonymouswrote:
I have an offer on my account to upgrade to the blue cash prefered, with 250 back with 2000 spend in 90 days.

Can I accept this offer and downgrade after the year? Mostly want it for the 250, and the 6 percent back is nice, but I don't need another annual fee card.

The Amex rep said I can downgrade no problem. Just want to confirm this is true. They also said my APR remains the same, statement dates, numbers etc..

I hope so cause I got that 6.99 apr for the next year

Seems like a legit deal. Take it! I can't confirm it but I have read that you can switch.

I've had BCP for about 10 months and got the BCE in January thinking I might downgrade but I like the BCP and have already more than paid for the AF for now. We do a lot of groceries with 4 boys, they're little now but will continue to grow in the future...

Re: Upgrading BCE for BCP..

Gmood1 — Wed, 21 Mar 2018 23:26:11 GMT

I'll just swap my BCP for your BCE.😀
I'm going to downgrade mine next month. Kids slowly moving out. So the groceries bill is half of what it used to be. Makes it not worth the fee anymore.

Re: Upgrading BCE for BCP..

Anonymous — Wed, 21 Mar 2018 23:43:41 GMT

@Anonymouswrote:
If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

Right, and also other places that Amex doesn't consider as supermarkets but work with 2% V/MC (Target and Walmart superstores are common examples).

Re: Upgrading BCE for BCP..

Gregory1776 — Wed, 21 Mar 2018 23:44:29 GMT

@Anonymouswrote:
If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

Smart guy! 😦😦😦

Re: Upgrading BCE for BCP..

Anonymous — Thu, 22 Mar 2018 00:04:52 GMT

So I just called and they confirmed everything

I basically would be prorated the annual fee till my anniversery date

It almost seems like a no brainer to me. I would get a 27 dollar fee on my next statement, since thats the prorated charge and in 4 months they would hit me with the 95 dollar annual fee on the anniversary

I figure ill get the rewards, use it at least the next 4 months, then downgrade if I don't like it. For 27 bucks, seems worth it to get the 250 and at least try it tillt he anniversary date I opened the account

Seems like a win win to me folks..

Re: Upgrading BCE for BCP..

jlitnns — Thu, 22 Mar 2018 16:44:34 GMT

@Anonymouswrote:
So I just called and they confirmed everything

I basically would be prorated the annual fee till my anniversery date

It almost seems like a no brainer to me. I would get a 27 dollar fee on my next statement, since thats the prorated charge and in 4 months they would hit me with the 95 dollar annual fee on the anniversary

I figure ill get the rewards, use it at least the next 4 months, then downgrade if I don't like it. For 27 bucks, seems worth it to get the 250 and at least try it tillt he anniversary date I opened the account

Seems like a win win to me folks..

Sweet deal! Congrats!

Re: Upgrading BCE for BCP..

Anonymous — Fri, 23 Mar 2018 00:11:51 GMT

One last question for people who have the card

Do only certain grocery stores on a list get you 6 percent cash back, or is it any store that is coded as " grocery "

I know places like target and walmart don't but they arent coded as grocery

I have another credit card that lists this place I get lunch from everyday as " grocery ".

It would be great if I got 6 percent back since I go there everyday

Re: Upgrading BCE for BCP..

Gregory1776 — Fri, 23 Mar 2018 00:34:11 GMT

Seems anything is 6% if the merchant is set up as groceries. I know two local wine stores are goaded as groceries for me.

Re: Upgrading BCE for BCP..

Anonymous — Fri, 23 Mar 2018 00:36:03 GMT

Same here with the wine stores that code on grocery. Would be nice if those gave 6 percent also.

Would make me use the card alot more

Re: Upgrading BCE for BCP..

Gregory1776 — Fri, 23 Mar 2018 01:02:06 GMT

@Anonymouswrote:
Same here with the wine stores that code on grocery. Would be nice if those gave 6 percent also.

Would make me use the card alot more

Mine are!

Re: Upgrading BCE for BCP..

simplynoir — Fri, 23 Mar 2018 01:10:09 GMT

Be careful just because they code the merchant as "groceries" doesn't mean you'll get the spend bonus from it. Check your statements to be sure. I know a few members on here got surprises like that not getting the 3%/6% they were expecting.

Re: Upgrading BCE for BCP..

HeavenOhio — Fri, 23 Mar 2018 09:50:01 GMT

The merchant has to qualify as a "supermarket" in order to get the 3%/6% reward. Not everything that codes as groceries will qualify.

Here's information from AMEX:

https://www.americanexpress.com/us/content/rewards-info/retail.html

Quoting that page:

Examples of merchants where you will NOT earn additional rewards include:
Specialty stores (e.g., fish markets, cheese shops, wine shops, and other specialty food stores)
Superstores (e.g. Amazon, Target and Wal-Mart)
Warehouse clubs (e.g. BJ's Club)

You're going to have to wait up to two months to find out for sure if a merchant qualifies as a supermarket (or any particular category reward). To do this, once your rewards are updated, go to "Statements and Activity in your account. In the dropdown at the top, and choose any of your previous statements. Scroll down to the bottom, where you'll find a box labeled "Rewards Details." In that box, hit the link that says "Bonus Details." Charges qualifying for category rewards during that statement period will be listed.

Re: Upgrading BCE for BCP..

Anonymous — Fri, 23 Mar 2018 04:30:22 GMT

@HeavenOhiowrote:
The merchant has to qualify as a "supermarket" in order to get the 3%/6% reward. Not everything that codes as groceries will qualify.

Here's information from AMEX:
https://www.americanexpress.com/us/content/rewards-info/retail.html

Quoting that page:

Examples of merchants where you will NOT earn additional rewards include:
Specialty stores (e.g., fish markets, cheese shops, wine shops, and other specialty food stores)
Superstores (e.g. Amazon, Target and Wal-Mart)
Warehouse clubs (e.g. BJ's Club)
You're going to have to wait up to two months to find out for sure if a merchant qualifies as a supermarket (or any particular category reward). To do this, once your rewards are updated, go to "Statements and Activity in your account. In the dropdown at the top, choose any of your previous statements. Scroll down to the bottom, where you'll find a box labeled "Rewards Details." In that box, hit the link that says "Bonus Details." Charges qualifying for category rewards during that statement period will be listed.

Right, and in particular just because something codes as supermarket on a Visa/MC doesn't mean it will on Amex.

Re: Upgrading BCE for BCP..

HeavenOhio — Fri, 23 Mar 2018 10:10:15 GMT

To summarize, ignore the codes and check the Bonus Details once they become available. The AMEX groceries code is much broader than what actually qualifies as a supermarket.

Re: Upgrading BCE for BCP..

Anonymous — Fri, 23 Mar 2018 11:21:18 GMT

HeavenOhio said it best. Know the exclusion factors to expect & try the card at the places you grocery shop. In 2 annoyingly long months check your statement to see if it codes properly.

I know lots of people (Google search of "what stores count as grocery for BCE / BCP") have had trouble or hurt feelings over what stores will or will not code properly for 3-6%, but I myself have had no surprises when it comes to qualifying merchants. Kroger, Harris Teeter, trader Joe's, Publix, Wegmans, the fresh market along with any number of random region specific grocery stores code properly - provided its not a Costco/Sam's/Fred Meyer style grocery-warehouse hybrid place.

The rewards earning and redemption restrictions are a pain in the ass but I love my soon to be upgraded BCE.

Re: Upgrading BCE for BCP..

HeavenOhio — Fri, 23 Mar 2018 13:17:09 GMT

When I poked around the internet, someone made a good point by stating that groceries are products while supermarkets are a type of store. The local wine shop may sell a few groceries, such as crackers and cheese. But it's not likely to have the bakery, deli, dairy, canned goods, or household products that you'd find in a supermarket.

Re: Upgrading BCE for BCP..

jlitnns — Mon, 26 Mar 2018 16:52:27 GMT

Anybody know about WinCo? We have one opening up here in a few months. My wife and I shopped there a lot before we moved and wondering/hoping it works. I didn't have BCP at the time, I was ignorant to the MyFICO ways...