I found it to be a good upgrade for me. The grocery points go from 2% to 3% (of the 1st $6k spending), but the bonus point percentage goes from 20% to 50% once you use the card 30 times in a billing period (easy). So assuming you use the card 30 times per month, if you buy 6,000 in groceries in a year, that's 4.5% * $6,000 = $270.00 in points with the Preferred, while on the regular Everyday it's 2.4% * $6000 = $ 144.00. That covers the additional $95 fee right there. The gas points also go up.
It's not hard to buy 6K worth of groceries in a year. After you spend 6k unfortunately, the points drop back to 1%. I plan on then moving the spending to another card that offers 3% on groceries.
