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Amex Cash Magnet UPGRADED to Blue Cash Preferred

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Amex Cash Magnet UPGRADED to Blue Cash Preferred

I called Amex to ask a question about my BONVOY card, and when the Rep finished answering that, he said I was eligable for an instant upgrade on my CASH MAGNET card, up to the BLUE CASH PREFERRED. He even said I could have the bonus offer where if I spend $1000 within the first 3 months, I'd get a $250 credit. I acdepted the offer, and the new card in on the way !!!

 

I got my CASH MAGNET a year ago last December, with a low SL of only $1000.  The Rep didn't mention anything about me getting an CLI along with this upgrade to the BCP card, and I did not want to ask him because I didn't want him to end up asking me income questions in order to get the CLI. My income in much lower now since when I got the card.  I figure I will just wait to see if they give my CLI on their own...lol

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 1 of 13
12 REPLIES 12
Moderator

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred

Congrats on the BCP upgrade and the SUB as well.

Message 2 of 13
Senior Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred

Nice card for grocery spend for sure! Throw is some nice Amex offers from time to time and it makes for a solid card. 

Message 3 of 13
Regular Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred

Hopefully when my Cash Magnet hits 1 y/o I’ll get the same upgrade offer. I haven’t used the magnet but 2-3 times since I’ve gotten it.

Congrats on the Upgrade !!


Gardening until 8/2020
Message 4 of 13
Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred


@B1G wrote:
Hopefully when my Cash Magnet hits 1 y/o I’ll get the same upgrade offer. I haven’t used the magnet but 2-3 times since I’ve gotten it.

Congrats on the Upgrade !!

 

Thanks.!   I would recommend using the card as much as possible to build up the good spend & pay history.  Even though I only have that low $1000 SL, first 3 months I used it a lot, and made sure I made quick large payments. I'd pay my utility bills with it, and other large and small purchases. Then once the charges posted to my account, I'd pay it off within few days of that in lump some. After those first several months I cooled off for a few months, but then after that I had another 3-4 month period of heavy use, and quick payoffs. Sometimes I'd purchase up until I only had about 200 remaining on my CL, and then pay if off in once lump payment that same month, and then do the same thing again within the same month. Therefore, I'd have about 1500 - 2000 worth of spend on the card each month even though my CL was only $1000.. I just wanted to show them that I needed a higher CL. Hopefully soon they will increase my CL without me having to request it, but in the meantime having this upgrade is a great unexpected reward. 

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 5 of 13
Super Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred

 

Congrats on yer Upgrade!

 

Message 6 of 13
Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred


@MrPTato wrote:

Nice card for grocery spend for sure! Throw is some nice Amex offers from time to time and it makes for a solid card. 


Yes, normally I use my Amex Gold Card for grocery shopping 4x points, but I will be using the BCP now.

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 7 of 13
Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred


@FinStar wrote:

Congrats on the BCP upgrade and the SUB as well.


Thanks.   I was in the Garden after having adding 9 new cards to my wallet over the past 12 months, and I wasn't going to apply for anything new for least another 6 -12 months, so this was very nice unexpected offer to get from them. A way to come out of the Garden without actually trying.... LOL

GoingGold
*UPDATED AS OF 09/09/2019*
EQ: 712 ___ TU: 708 ___ EX: 689
Utlz:1% ___ Old Lates/COs: 2 ___ Collections: 0 ___ Public Records: 0 ___ Last Late: 2.1 yrs ___ AAoA: 7.1 yrs ___ AAoOA: 23.10 yrs

AMEX PLATINUM ___ AMEX GOLD = $3,000 (P.O.T) ___ AMEX BONVOY BRILLIANT = $5,000 ___ AMEX CASH MAGNET = $1,000
CAP ONE VENTURE = $30,000 ___ CAP ONE QUICKSILVER = $3,500 ___ CAP ONE PLATINUM SECURED = $500
BANK OF AMERICA CASH REWARDS = $15,000 ___ BANK OF AMERICA PREMIUM REWARDS = $15,000
DISCOVER IT MILES = $15,000 ___ FIDELITY INVESTMENTS CASH REWARDS = $16,500
**TOTAL OVERALL CREDIT LIMIT = $101,500, or $104,500 if you include the Amex Gold P.O.T option CL.
Message 8 of 13
Frequent Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred

I didn't think they did PCs on the CM. I got one a while back, but then picked up the PenFed PCR at 2%, and the CM went into the safe.
2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2019-09-07 FICO 08: TU 783
2019-09-05 FICO 08: EX 748

Gardening again until... soon(I need to replace my car)

Message 9 of 13
Senior Contributor

Re: Amex Cash Magnet UPGRADED to Blue Cash Preferred


@GoingGold wrote:

@MrPTato wrote:

Nice card for grocery spend for sure! Throw is some nice Amex offers from time to time and it makes for a solid card. 


Yes, normally I use my Amex Gold Card for grocery shopping 4x points, but I will be using the BCP now.


It depends on the eco system you value more. While I enjoy cash back, MR points have quite the usefulness when you can apply them to travel. I usually max out the BCP and then move onto the Gold.

Message 10 of 13
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