Logged into my Amex account today and saw an upgrade offer for my Cash Magnet. Upgrade to BCP and spend $1,000 within 6 months and get $150. Zero annual fee first year and then $95. No new debt but will go ahead and pay insurance up for year and collect my $150. I guess Amex is getting creative to make money (i.e. interest/AF). I'll pay the balance off after statement cut. Actually now that I think about it, I can use the card to pay insurance monthly since I have 6 months and then PIF every month without a big cash outlay.
(Formerly known as: Credit is my hobby (1.7M)/TCL objective)
That's a great upgrade offer, but this isn't something new. Amex has offered upgrade bonuses for many years. BCE to BCP or ED to EDP and down and up again is pretty commonly done around here for the bonuses. Usually they are not as lucrative as new accounts, but they certainly can be. Congrats on the offer!
Thanks for posting! I know Amex offers these for PC'ing BCE to BCP or ED to EDP and vice versa.
I did not realize they offer these for the Cash Magnet to BCP.
Gotta love free money
