topic Re: American Express product change question in Credit Cards

American Express product change question

Anonymous — Thu, 11 Oct 2018 22:11:14 GMT

Hi there, I recently got approved for cash magnet and everyday under one inquiry, and have been using the cash magnet primarily and not really using the everyday. Even though I have the 0% intro interest promo, the APR on the everyday is absurd (just under 26%) while the CM is less than 20% so i'm just not going to use the ED much.

I'm curious about how Amex handles product changes, as I was originally aiming on getting the BCE and ideally I would like to change my CM to the BCE. Is it too early to request a PC? I have had both cards for less than 2mo.

Re: American Express product change question

Anonymous — Thu, 11 Oct 2018 22:45:25 GMT

For some reason I'm thinking you have to have the cards for a year prior to a product change? I could be very wrong though. I would hope on their chat and ask!

Re: American Express product change question

mongstradamus — Fri, 12 Oct 2018 00:02:43 GMT

I don’t think you can PC in first year i think its federal law but i could be mistakened. As far as PC i don’t even know if thats possible because i don’t think they are in same family of cards? I know you can do BCP to BCE for example and EDP to ED but not sure about what if any card you PC cash magnet to .

Re: American Express product change question

Felony_Phil — Fri, 12 Oct 2018 00:22:08 GMT

Personally, I'd wait until your 0% ran out before I changed. The only advantage of the BCE over the Cash Magnet is 3% groceries and 2% fuel.

Re: American Express product change question

K-in-Boston — Fri, 12 Oct 2018 01:08:35 GMT

The law only states that they can’t increase annual fees in the first year, so you would not be able to change from Cash Magnet to Blue Cash Preferred until after a year. I don’t believe Amex has any time constraints on a PC, although I do not know that for a fact. They do allow product changes only within card families. Cash Magnet is the same family as BCE and BCP.

Re: American Express product change question

SouthJamaica — Fri, 12 Oct 2018 01:49:08 GMT

@Anonymous wrote:
Hi there, I recently got approved for cash magnet and everyday under one inquiry, and have been using the cash magnet primarily and not really using the everyday. Even though I have the 0% intro interest promo, the APR on the everyday is absurd (just under 26%) while the CM is less than 20% so i'm just not going to use the ED much.

I'm curious about how Amex handles product changes, as I was originally aiming on getting the BCE and ideally I would like to change my CM to the BCE. Is it too early to request a PC? I have had both cards for less than 2mo.

My recollection is that (a) they won't do it until you've had the card 13 months and (b) they will only pc it to something which they consider to be in the same "family". They probably do consider the BCE to be in the same family as the CM.

Re: American Express product change question

PointsBonus — Fri, 12 Oct 2018 01:51:22 GMT

From experience- a product change cannot even be processed until your 12 billing cycle.
Product change can ONLY happen within family. I am not sure which family Cash magnet is with.

Re: American Express product change question

jdbkiang — Fri, 12 Oct 2018 06:16:04 GMT

Definitely call in and ask.

Federal law disallows anyone from PC'ing to a card with a higher AF, but you can PC to a card with the same or lower AF within a year. I'm not sure if Amex has any additional rules for this timewise.

Also, if you swipe your card enough times, the ED gives you 1.2 MR on everything and 2.4 MR on groceries. If you travel at all, it wouldn't be hard to get more value out of 1.2 MR than 1.5% cash back.

Re: American Express product change question

Anonymous — Sat, 13 Oct 2018 03:39:55 GMT

Thanks all, just used chat and sucessfully did a PC retaining my 0% APR promo

Re: American Express product change question

jdbkiang — Sat, 13 Oct 2018 03:57:30 GMT

Congrats! Looks like Amex's cash back cards are in the same family.

Re: American Express product change question

aircobra — Sat, 13 Oct 2018 04:04:44 GMT

To confirm some information about AMEX product change rules. They have to be the same rewards structure (Cash back, Miles, etc). You do not have to have your account opened for 12 months to get a change but you do to get the highest tier of said card (Blue Cash Preferred for example).

Re: American Express product change question

Felony_Phil — Sat, 13 Oct 2018 13:27:02 GMT

Well. While we're on the topic. I have a BCE and let's say I want to PC to the Magnet. Would I get the SUB on the Magnet because I've never had that card or will a PC void the SUB? Effectively make a person app for the Magnet.

Re: American Express product change question

jdbkiang — Sat, 13 Oct 2018 15:43:10 GMT

@Felony_Phil wrote:
Well. While we're on the topic. I have a BCE and let's say I want to PC to the Magnet. Would I get the SUB on the Magnet because I've never had that card or will a PC void the SUB? Effectively make a person app for the Magnet.

Generally, the rule is that unless you've been targeted for an upgrade offer, you will not get the SUB on cards you PC to. (Sometimes being targeted for an upgrade is enough of an offer)...

Nonetheless, with Amex, a new app is usually only an SP if you already have a card with them, so it may not hurt much to try.

Re: American Express product change question

Anonymous — Sat, 13 Oct 2018 19:14:43 GMT

I wonder if ill be able to PC my everyday to a magnet, i doubt it cause ED is points

Re: American Express product change question

blindambition — Sat, 13 Oct 2018 19:49:10 GMT

It's true that you won't get SUB to upgrade, unless you've been targeted.
I have a Hilton Honors Ascend. I have an upgrade offer for the Aspire with the SUB. While the bonus is fantastic, I can't justify the $450 AF. The benefits and cost just don't add up for my needs.

Re: American Express product change question

jdbkiang — Sat, 13 Oct 2018 20:00:02 GMT

You definitely cannot PC the ED to the magnet.

Out of curiosity though, why would you want to? I feel like 1 MR is worth well over 1.5 cents and there are a myriad of 2% CB cards.

I also have the ascend, but for less than a year, so unfortunately no upgrade offer. I’d take it in a heartbeat!

Re: American Express product change question

K-in-Boston — Sat, 13 Oct 2018 20:05:25 GMT

@Felony_Phil wrote:
Well. While we're on the topic. I have a BCE and let's say I want to PC to the Magnet. Would I get the SUB on the Magnet because I've never had that card or will a PC void the SUB? Effectively make a person app for the Magnet.

Not only would you not get the welcome offer, you'd prevent yourself from ever being able to receive a welcome offer if you applied for the card in the future.

Re: American Express product change question

Anonymous — Sat, 13 Oct 2018 20:10:32 GMT

@jdbkiang wrote:
You definitely cannot PC the ED to the magnet.

Out of curiosity though, why would you want to? I feel like 1 MR is worth well over 1.5 cents and there are a myriad of 2% CB cards.

I also have the ascend, but for less than a year, so unfortunately no upgrade offer. I’d take it in a heartbeat!

Really depends what you redeem for. A lot of the rewards are far less than 1.5/per. And I dunno, im just a cashback kinda person.

Keep it real simple. Dollars and cents so i dont have to math points.

Re: American Express product change question

jdbkiang — Sat, 13 Oct 2018 22:19:24 GMT

I can definitely understand if you’re a CB guy, but then why not go for cards like the DC or PP MC that offer 2% back? Honestly, I’ve never understood the allure of the Magnet.

Re: American Express product change question

wasCB14 — Sat, 13 Oct 2018 22:42:26 GMT

@aircobra wrote:
To confirm some information about AMEX product change rules. They have to be the same rewards structure (Cash back, Miles, etc). You do not have to have your account opened for 12 months to get a change but you do to get the highest tier of said card (Blue Cash Preferred for example).

More precisely, higher...not necessarily highest.

Delta Reserve has the highest AF, but you still can't go from Delta Blue straight to Gold or Platinum.