Amex BCE upgrade to BC Preferred?

[jonblaze24]

Was browsing around my Amex page yesterday and noticed there was an offer to upgrade from my Blue Cash Everyday to Blue Cash Preferred. Does anyone have any feedback regarding this? 

The 6% back for groceries sounds amazing, and overall it seems like its much better rewards than the BCE. I can handle the $95 annual fee, but I guess my concern would be credit limit. I was just recently 2.5x'd on my BCE, would there be a chance of them giving me a lower limit if i upgrade or is that not a thing? 

Would love to hear feedback, thanks guys!

[K-in-Boston]

There would not be any changes to your account number or credit line.  The only things that change are the introduction of the annual fee and the change in rewards terms.  If you spend $3167 or more in groceries annually and you are currently placing them on BCE, the BCP would be a better option.  (Also the math gets more favorable if you have streaming purchases or don't have better rewards for any gas and transit purchases.)

Are they currently offering a bonus for upgrading?  If not, it might be worth holding out until there is one as they are quite common for upgrades from BCE to BCP and ED to EDP.

[jonblaze24]

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@K-in-Boston wrote:

There would not be any changes to your account number or credit line.  The only things that change are the introduction of the annual fee and the change in rewards terms.  If you spend $3167 or more in groceries annually and you are currently placing them on BCE, the BCP would be a better option.  (Also the math gets more favorable if you have streaming purchases or don't have better rewards for any gas and transit purchases.)

Are they currently offering a bonus for upgrading?  If not, it might be worth holding out until there is one as they are quite common for upgrades from BCE to BCP and ED to EDP.

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Thank you for your response. Seems the only things they are offering is the $75 in statement credit and the 6% back in groceries/streaming. 3% gas. Doesn't seem like anything that really warrants an upgrade. 

As far as credit limits go, would one have a better shot at higher limits than the other? I'm very new to Amex and am building my credit back to where I am starting to finally see some favorable increases in CL's (with all cards).....as stated before they just 2.5x'd my BCE about two months ago, would upgrading give me a better shot at an even higher CL? 

[dragontears]

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@jonblaze24 wrote:

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@K-in-Boston wrote:

There would not be any changes to your account number or credit line.  The only things that change are the introduction of the annual fee and the change in rewards terms.  If you spend $3167 or more in groceries annually and you are currently placing them on BCE, the BCP would be a better option.  (Also the math gets more favorable if you have streaming purchases or don't have better rewards for any gas and transit purchases.)

Are they currently offering a bonus for upgrading?  If not, it might be worth holding out until there is one as they are quite common for upgrades from BCE to BCP and ED to EDP.

---

Thank you for your response. Seems the only things they are offering is the $75 in statement credit and the 6% back in groceries/streaming. 3% gas. Doesn't seem like anything that really warrants an upgrade. 

As far as credit limits go, would one have a better shot at higher limits than the other? I'm very new to Amex and am building my credit back to where I am starting to finally see some favorable increases in CL's (with all cards).....as stated before they just 2.5x'd my BCE about two months ago, would upgrading give me a better shot at an even higher CL? 

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I have seen no data that the BCP has a better chance of a CLI than the BCE. My BCE went to 30k credit limit before I quit asking for CLI. 

I have upgraded to the BCP twice now and there is no change in how the account is reported.

I would wait until they offer you something to upgrade, first time I got $200 for upgrading and this last time was $150. I don't have enough grocery spend to make the BCP work for me long term so I will downgrade back to the BCE once the year is up.

[jonblaze24]

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@dragontears wrote:

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@jonblaze24 wrote:

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@K-in-Boston wrote:

There would not be any changes to your account number or credit line.  The only things that change are the introduction of the annual fee and the change in rewards terms.  If you spend $3167 or more in groceries annually and you are currently placing them on BCE, the BCP would be a better option.  (Also the math gets more favorable if you have streaming purchases or don't have better rewards for any gas and transit purchases.)

Are they currently offering a bonus for upgrading?  If not, it might be worth holding out until there is one as they are quite common for upgrades from BCE to BCP and ED to EDP.

---

Thank you for your response. Seems the only things they are offering is the $75 in statement credit and the 6% back in groceries/streaming. 3% gas. Doesn't seem like anything that really warrants an upgrade. 

As far as credit limits go, would one have a better shot at higher limits than the other? I'm very new to Amex and am building my credit back to where I am starting to finally see some favorable increases in CL's (with all cards).....as stated before they just 2.5x'd my BCE about two months ago, would upgrading give me a better shot at an even higher CL? 

---

I have seen no data that the BCP has a better chance of a CLI than the BCE. My BCE went to 30k credit limit before I quit asking for CLI. 

I have upgraded to the BCP twice now and there is no change in how the account is reported.

I would wait until they offer you something to upgrade, first time I got $200 for upgrading and this last time was $150. I don't have enough grocery spend to make the BCP work for me long term so I will downgrade back to the BCE once the year is up.

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Really appreciate that feedback, I'll definitely keep an eye out for better offers when they come around. 

[K-in-Boston]

There should be no difference whatsoever for credit lines whether it's BCE or BCP.  If the offer is $75 and a waived annual fee for the first year, that's a good offer.  But if it's just a $75 bonus, I agree with @dragontears it's probably better to hold out for a better upgrade offer.

[wasCB14]

I've done:

$250 with AF due, $2k spend in 3 months (2019)

$150 with no AF for 12 months, $1k spend in 3 months (2021)

[Howaboutthat]

Take it, there's no annual fee a year then downgrade. 

[TimFlorida]

I just upgraded from Cash Magnet - No AF 12 mo.  0% interest for 12 mo. and $150 for 1k spend.

[Anonymous]

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@wasCB14 wrote:

I've done:

$250 with AF due, $2k spend in 3 months (2019)

$150 with no AF for 12 months, $1k spend in 3 months (2021)

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I agree those are the "standard" offers.   Haven't heard of $75 before.

OP, is this with or without an AF?   If the AF isn't waived the first year, there is a cost to switching which you could make up with increased rewards but is not like the other no-brainer offers.