topic Re: AMEX BCE to BCP in Credit Cards

AMEX BCE to BCP

Queen_Etherea — Wed, 28 Nov 2018 21:35:20 GMT

In the beginning of October I applied for and was approved for my very first AMEX card (AMEX Achievement Unlocked). The limit was only $500, but I was assured over and over that I was not in their version of a credit steps program. As you can see in my sig, I’ve opened quite a few accounts in the past couple of months, which hit my AAoA pretty hard. I even asked for a CLI on the 61st day and was denied.

So on to my real question: Will I be able to PC this card to the Blue Cash Preferred? I would LOVE to get the %’s back for groceries and gas as I spend quite a bit on groceries each month. If so, how long should I wait before asking? I’ve never had a relationship with AMEX, so I want to make sure we get off to a great start. I know I’ll probably need to wait 6 months or more, but that’s ok! I’m totally willing to wait and build a good history with them.

Also, I read recently that AMEX doesn't like multiple payments/month. Has anyone noticed this to be true? I've been making 2-4 payments each month as the balance posts.

I’d love to hear some stories about this, if you guys have any!

Re: AMEX BCE to BCP

Anonymous — Wed, 28 Nov 2018 21:38:28 GMT

I assume you need to use BCE for 12 months before being able to product change? On a side note, have you ever considered Amex Gold which total crushes BCP after the revemp?

Re: AMEX BCE to BCP

NRB525 — Wed, 28 Nov 2018 21:44:15 GMT

You will need to wait 12 months before moving any card up to a higher annual fee.

After 12 months heavy use, you may get an upgrade bonus offer, AMEX has given me several of those on different accounts.

Multiple payments are not allowed in your first month on AMEX, and perhaps with a new checking account added to AMEX, but after that should not be an issue.

Re: AMEX BCE to BCP

FinStar — Wed, 28 Nov 2018 21:49:24 GMT

You're on the right path by building history with AmEx and *potentially* any upgrade offer would follow based on your internal history and other factors. Upgrade offers can vary, though; and some may yield a decent SUB (if eligible).

The alternative would be to apply for the BCP once you have built enough history with them and you could qualify for the SUB at that point. If approved, you could combine the CL from BCE and close it.

As with anything, weigh the options and determine whether the AF offsets your usage of BCP.

Re: AMEX BCE to BCP

Queen_Etherea — Wed, 28 Nov 2018 23:47:06 GMT

@Anonymous wrote:
I assume you need to use BCE for 12 months before being able to product change? On a side note, have you ever considered Amex Gold which total crushes BCP after the revemp?

I applied and was denied. Reason I got in the mail was my history with AMEX wasn't not long enough. I've heard of people opening 2 accounts with AMEX within 30-60 days, so I thought I'd give it a shot since it was just a SP. Obviously, they want to take things slow and I'm over here trying to pull their pants down

I will try again in about another 6 months. Maybe we can re-evaluate our relationship then.

Re: AMEX BCE to BCP

Queen_Etherea — Wed, 28 Nov 2018 23:50:04 GMT

@NRB525 wrote:
You will need to wait 12 months before moving any card up to a higher annual fee.

After 12 months heavy use, you may get an upgrade bonus offer, AMEX has given me several of those on different accounts.

Multiple payments are not allowed in your first month on AMEX, and perhaps with a new checking account added to AMEX, but after that should not be an issue.

That is correct. I tried to make multiple payments my first month and it wouldn't let me. I called AMEX and they said for the first 30 days, you need to wait at least 7 business days before making another payment. They basically want to make sure your banking details are good and that nothing is going to come back and bite them on the tooshie!

I just didn't want my multiple payments every month to wave some sort of red flag in their internal system. It just makes me feel better PIF when the balance posts. I usually do it once a week.

Re: AMEX BCE to BCP

Queen_Etherea — Wed, 28 Nov 2018 23:55:36 GMT

@FinStar wrote:
You're on the right path by building history with AmEx and *potentially* any upgrade offer would follow based on your internal history and other factors. Upgrade offers can vary, though; and some may yield a decent SUB (if eligible).

The alternative would be to apply for the BCP once you have built enough history with them and you could qualify for the SUB at that point. If approved, you could combine the CL from BCE and close it.

As with anything, weigh the options and determine whether the AF offsets your usage of BCP.

That may be an option further down the line. I don't want to open any new accounts any time soon. I like the idea of the PC so it won't affect my AAoA, which is below 2 years (1 year, 11 months) right now. Although, getting some decent sub offers wouldn't deter me either... Definitely later next year, though! My credit should be well into the 700's by then if I don't screw things up and especially if I don't open any new accounts. Right now, the biggest thing holding me down is the inquiries/new accounts. Everything else is pretty golden. Well, I do have that one collection, but it'll fall off early next year and it's a paid medical under $100.

Re: AMEX BCE to BCP

FinStar — Thu, 29 Nov 2018 00:57:13 GMT

@Queen_Etherea wrote:
@Anonymous wrote:
I assume you need to use BCE for 12 months before being able to product change? On a side note, have you ever considered Amex Gold which total crushes BCP after the revemp?
I applied and was denied. Reason I got in the mail was my history with AMEX wasn't not long enough. I've heard of people opening 2 accounts with AMEX within 30-60 days, so I thought I'd give it a shot since it was just a SP. Obviously, they want to take things slow and I'm over here trying to pull their pants down

I will try again in about another 6 months. Maybe we can re-evaluate our relationship then.

😄😄😄 Nothing wrong with being determined LOL

Re: AMEX BCE to BCP

FinStar — Thu, 29 Nov 2018 01:02:47 GMT

@Queen_Etherea wrote:
@NRB525 wrote:
You will need to wait 12 months before moving any card up to a higher annual fee.

After 12 months heavy use, you may get an upgrade bonus offer, AMEX has given me several of those on different accounts.

Multiple payments are not allowed in your first month on AMEX, and perhaps with a new checking account added to AMEX, but after that should not be an issue.
That is correct. I tried to make multiple payments my first month and it wouldn't let me. I called AMEX and they said for the first 30 days, you need to wait at least 7 business days before making another payment. They basically want to make sure your banking details are good and that nothing is going to come back and bite them on the tooshie!

I just didn't want my multiple payments every month to wave some sort of red flag in their internal system. It just makes me feel better PIF when the balance posts. I usually do it once a week.

The first month typically has that restriction as a new account when attempting to make several payments via the online interface. However, even during the first month, you can still push payments from your bank's bill payer service. I've had no issues with making multiple payments throughout the month, though 😉

Re: AMEX BCE to BCP

Anonymous — Thu, 29 Nov 2018 01:13:32 GMT

The 30 day restriction is for adding a new payment account not the card account itself, if you add another payment account in the future, same 30 day restriction will be apply to that payment account. On the flip side, when your Grace finally gets her BCP, she will be able to use payment accounts already added to her BCE without any restrictions right away.

Re: AMEX BCE to BCP

tcbofade — Thu, 29 Nov 2018 01:25:45 GMT

ymmv of course, but DW had the BCE for EXACTLY 12 months when she applied for the Magnet... immediately after approval, she got an offer to upgrade her BCE to a BCP with a $150 SUB.

...so it took DW 12 months.

Good luck!

Re: AMEX BCE to BCP

Queen_Etherea — Thu, 29 Nov 2018 14:56:22 GMT

@FinStar wrote:
@Queen_Etherea wrote:
@Anonymous wrote:
I assume you need to use BCE for 12 months before being able to product change? On a side note, have you ever considered Amex Gold which total crushes BCP after the revemp?
I applied and was denied. Reason I got in the mail was my history with AMEX wasn't not long enough. I've heard of people opening 2 accounts with AMEX within 30-60 days, so I thought I'd give it a shot since it was just a SP. Obviously, they want to take things slow and I'm over here trying to pull their pants down

I will try again in about another 6 months. Maybe we can re-evaluate our relationship then.
😄😄😄 Nothing wrong with being determined LOL

I'm normally not like this, I swear!

Re: AMEX BCE to BCP

Queen_Etherea — Thu, 29 Nov 2018 15:00:43 GMT

@Anonymous wrote:
The 30 day restriction is for adding a new payment account not the card account itself, if you add another payment account in the future, same 30 day restriction will be apply to that payment account. On the flip side, when your Grace finally gets her BCP, she will be able to use payment accounts already added to her BCE without any restrictions right away.

"Her Grace" hehe I like that! My username is actually from a cartoon on Adult Swim called The Venture Bros. Queen Etherea was the name of one of the villain's wife before she married him. Then after she was known as Dr. Girlfriend and then Dr. Mrs. The Monarch haha. God I love that show.

Re: AMEX BCE to BCP

Anonymous — Thu, 29 Nov 2018 16:30:17 GMT

I product changed my BCE to BCP early this year. I was enticed by the 6% back on groceries.

To make up for the $95 annual fee, you have to spend 95/0.03 or $3,167 just to breakeven on grocery spend vs BCE.

To be honest, I can't do that without gift card spend. But there are other cards that offer 5% back on gift card spend. And my Discover has a 5% back on groceries quarter. I get 5% at Whole Foods on Amazon Prime. And then there's the Target 5% Red Card. I have gas cards and department store cards that get better cash back than BCP too.

Between all those other options, the BCP is not making much sense anymore, for me. I will either downgrade to BCE for those times I am in Kroger or HEB etc. and can't get 5% back on Discover. Or I will cancel BCP altogether, as there is a limit on how many Amex credit cards you can have, and I have some others in mind.

Re: AMEX BCE to BCP

Queen_Etherea — Thu, 29 Nov 2018 17:49:47 GMT

@Anonymous wrote:
I product changed my BCE to BCP early this year. I was enticed by the 6% back on groceries.

To make up for the $95 annual fee, you have to spend 95/0.03 or $3,167 just to breakeven on grocery spend vs BCE.

To be honest, I can't do that without gift card spend. But there are other cards that offer 5% back on gift card spend. And my Discover has a 5% back on groceries quarter. I get 5% at Whole Foods on Amazon Prime. And then there's the Target 5% Red Card. I have gas cards and department store cards that get better cash back than BCP too.

Between all those other options, the BCP is not making much sense anymore, for me. I will either downgrade to BCE for those times I am in Kroger or HEB etc. and can't get 5% back on Discover. Or I will cancel BCP altogether, as there is a limit on how many Amex credit cards you can have, and I have some others in mind.

Oh that's right! We'll start getting 5% back on groceries with Discover next quarter! I've been taking advantage of the Amazon 5% back because it's technically 10% since we get the Cashback match next year. Bought my son a few Christmas presents and some much needed things for myself. Even though I have the Amazon store card that gets 5%, it made more sense to use the Discover this time around.

I didn't know the BCP had an annual fee. May not be worth it after all.

Re: AMEX BCE to BCP

Anonymous — Thu, 29 Nov 2018 17:58:40 GMT

@Queen_Etherea wrote:
I just didn't want my multiple payments every month to wave some sort of red flag in their internal system. It just makes me feel better PIF when the balance posts. I usually do it once a week.

Congrats on the card, that's a great one!

I've made three payments this month on my Amex BCP. Cool thing is,as you build a relationship with them, they apply the payments pretty quickly. Mine are often applied before they ever clear the bank now that I have that history.

Since you will be using your card like I do (groceries), here's some data points on how I use mine, and how it has grown.

I grocery shop once a week, and pay the card down or off every week or two. I usually spend arund 600 to 800 a month on groceries. I always pay the statement balance to zero, but since I am using it for groceries, most months a 100 to 300 balance will report each month. Even when I pay the statement balance to zero, I've usually had at least one or two charges on there just from regular use, so it always has a balance at some level. Since the statement balance is paid in full each month there is no interest.

I started with a $1000 limit. I requested a CLI about 5 months after, and got to $3000. On my first year anniversary, I got an auto CLI of $9000 bringing it to $12000 total. I believe that the constant use, and reported balance on this card is largely why that's happened. Amex seems to reward use pretty well.

Re: AMEX BCE to BCP

jbsilva21 — Thu, 29 Nov 2018 18:00:09 GMT

I guess it just depends. I got my Delta Gold Jan 5, 2018. Then in February I did the check for offers and got Amex Platinum on the 10th and my BCP on the 15th of Feb. I did use the Delta as a daily driver and paid it off each week. I see some people say you can't make multiple payments in a month but I think that is per checking account. I have several accounts and was able to make 3 payments in Jan on the Delta Gold.

Re: AMEX BCE to BCP

Anonymous — Thu, 29 Nov 2018 18:06:09 GMT

@Queen_Etherea wrote:
@Anonymous wrote:
I product changed my BCE to BCP early this year. I was enticed by the 6% back on groceries.

To make up for the $95 annual fee, you have to spend 95/0.03 or $3,167 just to breakeven on grocery spend vs BCE.

To be honest, I can't do that without gift card spend. But there are other cards that offer 5% back on gift card spend. And my Discover has a 5% back on groceries quarter. I get 5% at Whole Foods on Amazon Prime. And then there's the Target 5% Red Card. I have gas cards and department store cards that get better cash back than BCP too.

Between all those other options, the BCP is not making much sense anymore, for me. I will either downgrade to BCE for those times I am in Kroger or HEB etc. and can't get 5% back on Discover. Or I will cancel BCP altogether, as there is a limit on how many Amex credit cards you can have, and I have some others in mind.
Oh that's right! We'll start getting 5% back on groceries with Discover next quarter! I've been taking advantage of the Amazon 5% back because it's technically 10% since we get the Cashback match next year. Bought my son a few Christmas presents and some much needed things for myself. Even though I have the Amazon store card that gets 5%, it made more sense to use the Discover this time around.

I didn't know the BCP had an annual fee. May not be worth it after all.

I did the same last year, grabbed the BCP (already have BCE) with $150 SUB and 1st year AF waived, between 3% on BCE and 5% on Freedom and Discover, that $95 AF is pretty hard to break even on so I moved BCP limit to BCE and closed it this year few weeks before AF was suppose to hit.

Re: AMEX BCE to BCP

RonM21 — Fri, 30 Nov 2018 00:24:36 GMT

@Queen_Etherea wrote:
@FinStar wrote:
@Queen_Etherea wrote:
@Anonymous wrote:
I assume you need to use BCE for 12 months before being able to product change? On a side note, have you ever considered Amex Gold which total crushes BCP after the revemp?
I applied and was denied. Reason I got in the mail was my history with AMEX wasn't not long enough. I've heard of people opening 2 accounts with AMEX within 30-60 days, so I thought I'd give it a shot since it was just a SP. Obviously, they want to take things slow and I'm over here trying to pull their pants down

I will try again in about another 6 months. Maybe we can re-evaluate our relationship then.
😄😄😄 Nothing wrong with being determined LOL
I'm normally not like this, I swear!

It's all good. Keep doing what you need to do and in time you'll get that approval. Although the comment made about the Gold earlier in the thread is interesting. I hadn't thought about that.