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AmEx BCP membership fee?

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AmEx BCP membership fee?

I just got hit today with a "renewal membership fee", but the weird part is it's only $68.71. Is this my annual fee? How come it's not the full $95? Sorry if this is a stupid question. Just converted from the BCE about a month and a half ago and this is my first AF card, so not really sure how it works.










Message 1 of 17
16 REPLIES 16
Valued Contributor

Re: AmEx BCP membership fee?


@itsxluigi wrote:

I just got hit today with a "renewal membership fee", but the weird part is it's only $68.71. Is this my annual fee? How come it's not the full $95? Sorry if this is a stupid question. Just converted from the BCE about a month and a half ago and this is my first AF card, so not really sure how it works.


It sounds like they pro-rated your AF since it was an upgrade.




Garden goal: keep on keepin' on until 2020.
Faithful practitioner of AZE4or5or6
Message 2 of 17
Established Contributor

Re: AmEx BCP membership fee?

You only pay a partial year when you upgrade.  It could be $20 or $75... depends on when your anniversary is.  It's never the same amount though when upgrading.  I've done it a couple of times already and each time it's different based on when you accept the upgrade.  It's great though since it doesn't fall under the lifetime limit of bonuses with Amex.  You can downgrade when the anniversary comes up and then collect it again when an offer is worthwhile comes up again.

500K+ TCL / 800+ FCOs
Message 3 of 17
Senior Contributor

Re: AmEx BCP membership fee?


@Obscure-Expert wrote:

You only pay a partial year when you upgrade.  It could be $20 or $75... depends on when your anniversary is.  It's never the same amount though when upgrading.  I've done it a couple of times already and each time it's different based on when you accept the upgrade.  It's great though since it doesn't fall under the lifetime limit of bonuses with Amex.  You can downgrade when the anniversary comes up and then collect it again when an offer is worthwhile comes up again.


So with my BCE opening date of 8/2014, all else equal, it's better to accept a future upgrade offer in May or June than October or November?

 

That is, if I'm going to downgrade every other August or September (following a full year plus a few months with BCP), a May or June upgrade date means I'll have paid a smaller fraction of the partial year's AF?

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum
Potential closures/downgrades: Savor, BCP, Double Cash
Message 4 of 17
Established Contributor

Re: AmEx BCP membership fee?

My date is August as well.  I tend to upgrade in Dec and that results in a $50-$60 fee with the intent of collecting the bonus and riding it out until the renewal comes up.

 

When you downgrade after the FEE hits it will also be prorated... last time the $95 fee hit and the refund on it was $87.. so, $8 for a month.

 

It really doesn't take that much grocery spend to cancel out the AF but, it's more worthwhile when there's an offset with the bonus attached and then the spend is just a perk.    Keeping it w/o the bonus just isn't quite worth it to make up for the AF before it's profitable means focusing additional spend on it.  

 

6% + $95 AF

$3000/yr * 6% = $180 - $95 = $85 in your pocket

 

3% / no AF

$3000/yr * 3% = $90 in your pocket

 

Now, if you're hitting the actual limit of $6000/yr then it's a bit different calculation that makes the AF more wortwhile.

$265 w/ AF and $180 w/o AF

500K+ TCL / 800+ FCOs
Message 5 of 17
Senior Contributor

Re: AmEx BCP membership fee?

So between the time you upgrade and the time you downgrade again, you only pay about $70 in net annual fees for about 9 months?

 

...as opposed to about $165 for 21 months?

 

With Costco and specialty stores, only maybe 20% of my grocery spend codes as "supermarket" so BCP doesn't get much ongoing spend.

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival
Perks: Schwab Platinum, IHG49, Hyatt75, Brilliant, Delta Platinum
Potential closures/downgrades: Savor, BCP, Double Cash
Message 6 of 17
Established Contributor

Re: AmEx BCP membership fee?


@wasCB14 wrote:

So between the time you upgrade and the time you downgrade again, you only pay about $70 in net annual fees for about 9 months?

 

...as opposed to about $165 for 21 months?

 

With Costco and specialty stores, only maybe 20% of my grocery spend codes as "supermarket" so BCP doesn't get much ongoing spend.


That sounds about right.... 

 

so, taking into account $250 - $70 is $180 in profit + the spend during that time at 6% makes up for the $70 in AF.

 

For Warehouse places I use BOA for 2% or DC... there's only 1 card that makes 3% but it's a PITA to get one unless you live in their geo-footprint for approval.

 

Now, you could use BCP for the other categories for...

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500K+ TCL / 800+ FCOs
Message 7 of 17
Valued Contributor

Re: AmEx BCP membership fee?

Please tell me more about the downgrade process and when it can be done without adverse action.







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 8 of 17
Established Contributor

Re: AmEx BCP membership fee?


@Birdman7 wrote:
Please tell me more about the downgrade process and when it can be done without adverse action.

I usually just hop on chat and ask for a downgrade and they of course try to sell you on keeping the AF and then they downgrade it.  Usually see the AF refund appear within 1-2 statements.  Being cautious around here I normally wait until the AF posts.  

 

On Gold though I cancelled it out before the AF hit and didn't have to deal w/ the crediting of the AF.

500K+ TCL / 800+ FCOs
Message 9 of 17
Established Contributor

Re: AmEx BCP membership fee?

I spend enough on gas and groceries for it to cancel out the AF. I just upgraded after holding out for the $250 on $1000 spend offer. In all honesty, I only upgraded due to the new card design and it is magnificent in person. Apparently I'll only see about $50 for the AF because this account has its Anniversary in Jan.
Message 10 of 17
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