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$150 BCE to BCP Targeted Offer

KoF88
Frequent Contributor

$150 BCE to BCP Targeted Offer

Is this a particularly good offer or does it come by quite often?

 

"As a Blue Cash Preferred Card Member, you can earn even more cash back on the purchases you make every day. And, with this special offer, you can earn a $150 statement credit after you spend $1,000 in purchases on your new Card in your first 3 months (offer expires 04/15/2017)."

Message 1 of 12
11 REPLIES 11
austinguy907
Valued Contributor

Re: $150 BCE to BCP Targeted Offer

I did this at the end of Dec and had a planned use for over $1K spend so the timing was just right.  If you have planned spending coming up like I did with Auto Insurance Renewal for a year then go for it.  Once you click through everything you'll see your online account convert after 24-48 hours and any spend after it starts saying Prefered everywhere counts towards your $1K spend. 

 

I don't know about frequency but I had seen similar offers to upgrade prior to pulling the trigger.  It just happened to be a timing thing for me.  Also, they don't charge the whole $95 when the charge hits.  It's prorated to your annual anniversary and mine was 6 months or $47.50 when it showed up on my statement.  I figure at that rate try it out until the renewal shows up and if it adds up keep it and if not then downgrade again.

Message 2 of 12
culinarykid92
Regular Contributor

Re: $150 BCE to BCP Targeted Offer

I hear of this offer alot. However, AMEX has talked very recently about dealing with gamers of credit cards. I have noticed they stopped waiving the AF on the BCP for new cardholders (at least for now). And I've heard of them offering $100 with AF not waived recently to some for the upgrade. So I can tell you that it was standard, but it may not be in the future. If the card interests you, or you can easily get the signup, you might want to take it. Otherwise, you will have to hope for the best in the future.

Message 3 of 12
OzMan1788
Established Contributor

Re: $150 BCE to BCP Targeted Offer

I just signed up for this in January.  I ran the numbers.  If you're getting at least $95 cashback a year from the BCE in grocery spend, then the BCP makes sense.

 

I think I got the offer because I SDed the BCE, and this would entice me to put some spend on it. I have to say, $150 cashback is a pretty nice enticement. 

Message 4 of 12
KoF88
Frequent Contributor

Re: $150 BCE to BCP Targeted Offer

Thank you for the information, guys. My monthly grocery bill is about $200, give or take. That makes the BCP almost worth it.

 

I think I can find a way to make the BCP worthwhile (cook my meals more often, buy restaurant giftcard at grocery store if I eat out, etc). If not, I can always downgrade next year, as you guys suggested.

Message 5 of 12
culinarykid92
Regular Contributor

Re: $150 BCE to BCP Targeted Offer

You need to spend $3200 at least to make the BCP worth it. You can definently downgrade next year if it isn't worth it. I don't know if you get the upgrade offer once you've had or used the card in the past.
Message 6 of 12
Backwoods
Senior Contributor

Re: $150 BCE to BCP Targeted Offer

I don't know if the dining out bonus applies to that offer but they have been offering with BCP 10% for dining out for 6 months.

Message 7 of 12
Starz26
Regular Contributor

Re: $150 BCE to BCP Targeted Offer


@OzMan1788 wrote:

I just signed up for this in January.  I ran the numbers.  If you're getting at least $95 cashback a year from the BCE in grocery spend, then the BCP makes sense.

 

I think I got the offer because I SDed the BCE, and this would entice me to put some spend on it. I have to say, $150 cashback is a pretty nice enticement. 


I do not think this is correct. In order for the card to be worth it you would have to spend enough to increase what you currently earn in rewards by $95/year. If you ear $95/year currently and go with the BCP then you loos $95.00 per year as you drop down to $0 earned.

Message 8 of 12
culinarykid92
Regular Contributor

Re: $150 BCE to BCP Targeted Offer

If one earns $95 in cashback a year in grocery spend using the BCE, they would earn $190 with BCP. $190-$95=$95. BCE earns 3% vs the 6% on the BCP, wihich is double. So you break even, however, you would get 3% in gas and dept stores instead of 2% making the card better value. No one counts the 3% categories as there are cards that do better, but more importantly, it is easier to compare the cards. Then the other categories are bonus cash if it is one's best card for the catgories.

 

The dining deal, nor any signup is available as an upgrade offer. The benefit of the upgrade is you do a SP, and your rewards stay in the same pool. If you have a BCE and get the BCP by apping and probably get a HP, you need to deal with each rewards pool separately, as I hear AMEX will not combine should you not find enough value in the BCP to keep it.

Message 9 of 12
OzMan1788
Established Contributor

Re: $150 BCE to BCP Targeted Offer


@Starz26 wrote:

@OzMan1788 wrote:

I just signed up for this in January.  I ran the numbers.  If you're getting at least $95 cashback a year from the BCE in grocery spend, then the BCP makes sense.

 

I think I got the offer because I SDed the BCE, and this would entice me to put some spend on it. I have to say, $150 cashback is a pretty nice enticement. 


I do not think this is correct. In order for the card to be worth it you would have to spend enough to increase what you currently earn in rewards by $95/year. If you ear $95/year currently and go with the BCP then you loos $95.00 per year as you drop down to $0 earned.


My numbers assume that you use this only (or at least primarily) as a grocery card.  BCE gets 3% cash back, and BCP gets 6%, so if you get $95 in cash back on the BCE, that will double on the BCP, which will cover the AF and leave you at the same point.  With that, $95 (which is just under $3200 a year, or $62 a week) is breakeven.  

 

Although with a prorated 1st year AF and $150 bonus, that does mean you can get about 2 years out of the card without hitting the $62 weekly spend, and still justify it.

Message 10 of 12
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