topic Re: What do I do with AMEX BCP? in Credit Cards

What do I do with AMEX BCP?

Anonymous — Sat, 09 Nov 2019 13:33:12 GMT

Hey, guys.

My wife and I have switched to Target for almost all of our groceries. We use Redcard, plus their subscription service.

I have found the prices more competitive than other groceries, and we get 5% from the card, with no annual fee.

What would you do with AMEX BCP in this case? I could downgrade to the free version, but none of the other categories (gas. groceries, department stores) are of use to me. I don't drive much, rarely shop in department stores, and rarely would need to stop in another grocery store. The cash Magnet at 1.5% is useless to me, since I already have citi DC for 2%.

AMEX is oldest tradeline (2001) and has a $30,000 limit, so I don't want to give it up. Target is 5% with no annual fee, so that outtrumps AMEX BCP's 6% with annual fee. In reality, for the last several years, BCP's only use for us was groceries. Now we go to Target.

Any suggestions?

Re: What do I do with AMEX BCP?

Anonymous — Sat, 09 Nov 2019 13:39:33 GMT

Downgrade it to BCE. That way you keep the old trade line but lose the AF. Most people make a trip to a regular grocery store once in awhile. I actually compared Target to King Soopers (the Kroger brand in CO) and while Target comes out ahead overall, King Soopers' buy 5, save 5 sales and coupons blow Target away but regardless, I would definitely keep a limit that large and that old and toss a small charge or use AMEX offers on it.

Re: What do I do with AMEX BCP?

Anonymous — Sat, 09 Nov 2019 13:48:50 GMT

@Anonymous wrote:
Downgrade it to BCE. That way you keep the old trade line but lose the AF. Most people make a trip to a regular grocery store once in awhile. I actually compared Target to King Soopers (the Kroger brand in CO) and while Target comes out ahead overall, King Soopers' buy 5, save 5 sales and coupons blow Target away but regardless, I would definitely keep a limit that large and that old and toss a small charge or use AMEX offers on it.

Yes, with the limit and age, I would do the downgrade. I might not bother to spend to keep it alive though, depending on other cards.

Re: What do I do with AMEX BCP?

kdm31091 — Sat, 09 Nov 2019 13:56:35 GMT

You pretty much already know all your options: downgrade to BCE, downgrade to Magnet, or cancel the account.

I would just downgrade to BCE, throw it in a drawer, and use it on the random occasion you do have to run to the "real" grocery store. I agree with you that between Target (and Costco!), my actual grocery spend isn't very much, so the BCP wouldn't be worth the fee.

Normally, I think it's fine to close useless accounts, but since it's a very old account with a large limit, I would probably just downgrade and use it once in awhile.

Re: What do I do with AMEX BCP?

Mv350 — Sat, 09 Nov 2019 14:33:52 GMT

+1 on the PC to the BCE. That way there would be no annual fee.

Re: What do I do with AMEX BCP?

mongstradamus — Sat, 09 Nov 2019 17:43:23 GMT

@Anonymous wrote:
@Anonymous wrote:
Downgrade it to BCE. That way you keep the old trade line but lose the AF. Most people make a trip to a regular grocery store once in awhile. I actually compared Target to King Soopers (the Kroger brand in CO) and while Target comes out ahead overall, King Soopers' buy 5, save 5 sales and coupons blow Target away but regardless, I would definitely keep a limit that large and that old and toss a small charge or use AMEX offers on it.
Yes, with the limit and age, I would do the downgrade. I might not bother to spend to keep it alive though, depending on other cards.

After i downgraded my BCP to BCE I haven't touched it for last 3 or 4 years. I haven't had any issue with them closing it. I don't know if it matters that I am using other Amex cards so they don't care as much that i don't touch my bce.

Re: What do I do with AMEX BCP?

Anonymous — Sat, 09 Nov 2019 17:53:25 GMT

@mongstradamus wrote:
After i downgraded my BCP to BCE I haven't touched it for last 3 or 4 years. I haven't had any issue with them closing it. I don't know if it matters that I am using other Amex cards so they don't care as much that i don't touch my bce.

Yes, my experience suggests that keeping at least one card active is enough. I have only 3 Amex cards (hardly any compared to some) and in the past two were left unused for more than two years. And now that I have redowngraded by BCP, it looks like I won't be using any! So lets see a year or two from now.

Re: What do I do with AMEX BCP?

Anonymous — Sat, 09 Nov 2019 22:53:40 GMT

does your target have a meat dept. where you can buy steaks and things like that? mine doesn't, and the produce dept. is very tiny, almost non-existent. it's got a huge frozen food section, and lots of canned food though.

Re: What do I do with AMEX BCP?

Anonymous — Sun, 10 Nov 2019 02:28:56 GMT

Agree with downgrading it and puttting a small charge in it monthly or occasionally. But I would also scan Amex offers and use those that fit. I get a lot back each year from them, much more than reward dollars.

Re: What do I do with AMEX BCP?

Aim_High — Sun, 10 Nov 2019 04:58:39 GMT

Downgrade to BCE with no-AF.

Use to fill-in for grocery purchases at 3% for whatever you can't find at Target or when the regular supermarket has good sales.

Use it to buy gift cards for 3% off any purchases where you don't already get that. (Prepaid movie tickets? Do you already have a 3% restaurant card? Retail stores where you shop? Do you already get at least 3% off Amazon? 3% off on eBay? There are tons of gift card options.)

If you truly have no use for it, SD it and just charge a small purchase on it once or twice a year to keep it open. Don't give up your $30K oldest tradeline.

Re: What do I do with AMEX BCP?

dogmeat — Sun, 10 Nov 2019 08:53:54 GMT

Also while Amex cards can generally only be up/downgraded within their product family, their revolver CLs can be transferred across product lines. Re-allocating can be done online and is a SP. Therefore, I'd downgrade to BCE, and hang on to it; you never know, some day you may want a different card from Amex that that you'll actually use, and you can transfer over much of the CL from your BCE to the new card, if you want.

Re: What do I do with AMEX BCP?

coldfusion — Sun, 10 Nov 2019 13:02:51 GMT

@dogmeat wrote:
Also while Amex cards can generally only be up/downgraded within their product family, their revolver CLs can be transferred across product lines. Re-allocating can be done online and is a SP. Therefore, I'd downgrade to BCE, and hang on to it; you never know, some day you may want a different card from Amex that that you'll actually use, and you can transfer over much of the CL from your BCE to the new card, if you want.

There is a qualifier: the donor card must have been held for at least 13 months to be eligible for allowing an outgoing CL transfer.

Re: What do I do with AMEX BCP?

NRB525 — Sun, 10 Nov 2019 14:18:43 GMT

Regarding downgrading to BCE, with a $30k limit, and then not using?

Wasn’t there a period of time earlier this year where lightly used BCE were getting limits of ( commonly ) $30k slashed exactly in half? The BCP seemed not to be affected, likely because of the AF. Others with other AMEX action may not have been affected.

I would also downgrade it, but not be surprised if that limit were reduced.

Re: What do I do with AMEX BCP?

simplynoir — Sun, 10 Nov 2019 14:29:40 GMT

@coldfusion wrote:
@dogmeat wrote:
Also while Amex cards can generally only be up/downgraded within their product family, their revolver CLs can be transferred across product lines. Re-allocating can be done online and is a SP. Therefore, I'd downgrade to BCE, and hang on to it; you never know, some day you may want a different card from Amex that that you'll actually use, and you can transfer over much of the CL from your BCE to the new card, if you want.
There is a qualifier: the donor card must have been held for at least 13 months to be eligible for allowing an outgoing CL transfer.

That's more a YMMV than a hard rule. No ryhme or reason why one person can move limits around no matter how young the cards are and other timess people are denied

Re: What do I do with AMEX BCP?

Anonymous — Tue, 12 Nov 2019 20:45:50 GMT

Well, thanks for all your answers.

I guess there is no reason, once downgraded, to carry AMEX BCP in my wallet.

I have Citi DC for 2% on everything and Target Redcard Mastercard for 5% on groceries.

Other than the occasional AMEX offer, can anyone think of why I would need to carry AMEX BCE in my wallet? I can always take the card when there is a special offer.

Johnny 50

Re: What do I do with AMEX BCP?

kdm31091 — Tue, 12 Nov 2019 23:52:06 GMT

@Anonymous wrote:
Well, thanks for all your answers.

I guess there is no reason, once downgraded, to carry AMEX BCP in my wallet.

I have Citi DC for 2% on everything and Target Redcard Mastercard for 5% on groceries.

Other than the occasional AMEX offer, can anyone think of why I would need to carry AMEX BCE in my wallet? I can always take the card when there is a special offer.

Johnny 50

No. You'll know in advance if/when you would need to use it, so no point in carrying it really.