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Upgrade from AMEX Blue Cash to BLUE PREFERRED?

raenys
Frequent Contributor

Upgrade from AMEX Blue Cash to BLUE PREFERRED?

Hi everyone.

Here are my cards:

 

Chase Freedom

AMEX Blue cash

AMEX Gold

Citi Forward

Bestbuy MC

 

I want to use the cards as tools to maximize my rewards. I always PIF.

 

Forward only for dining out.

Bestbuy for their purchases only. I shop there a lot and cash in a certificate often. I have this card the longest.

Freedom for rotating catagories to maximize the 5% return. I have shopped through Chase for bonus rewards which is great. 

Gold has been used for everything else, particularly big ticket items for warranty protection. (second longest card).

 

BLUE is new for me and I don't even have the card yet.  I am starting to wonder why I even got it since I am not sure how to factor it in to my rotation yet. Everything seems to have a useful place, but I am not sure about this one.

 

Should I upgrade it to Blue Preferred?

I spend about $100 per week on gas and $400 per month on groceries. 

 

I like that the regular BLUE has no annual fee, since Gold is $125 per year.

 

In the alternative, better to upgrade the GOLD card to premier rewards and leave BLUE alone?

 

 

 

 

 

Message 1 of 14
13 REPLIES 13
pNa
Valued Member

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?


@raenys wrote:

Hi everyone.

Here are my cards:

 

Chase Freedom

AMEX Blue cash

AMEX Gold

Citi Forward

Bestbuy MC

 

I want to use the cards as tools to maximize my rewards. I always PIF.

 

Forward only for dining out.

Bestbuy for their purchases only. I shop there a lot and cash in a certificate often. I have this card the longest.

Freedom for rotating catagories to maximize the 5% return. I have shopped through Chase for bonus rewards which is great. 

Gold has been used for everything else, particularly big ticket items for warranty protection. (second longest card).

 

BLUE is new for me and I don't even have the card yet.  I am starting to wonder why I even got it since I am not sure how to factor it in to my rotation yet. Everything seems to have a useful place, but I am not sure about this one.

 

Should I upgrade it to Blue Preferred?

I spend about $100 per week on gas and $400 per month on groceries. 

 

I like that the regular BLUE has no annual fee, since Gold is $125 per year.

 

In the alternative, better to upgrade the GOLD card to premier rewards and leave BLUE alone?

 

 

 

 

 


With your grocery spend, Blue Cash Preferred is almost a no-brainer. BCP has a lower annual fee than either version of the Gold, and the 6% back on groceries outperforms not only the Golds but also the Blue Cash Everyday by more than you lose on the BCP annual fee. We had a fairly involved conversation on the BCP-BCED analysis a few weeks ago. Long story short, your $400/month in groceries makes BCP the winner over BCED even if you could have otherwise covered some of that grocery spend by your Freedom (if you did not have the BCP).  

 

The slight wrinkle I see is your Gold card with its fee. It really does not have much going for on the rewards. Even BCED looks better than Gold or Gold Preferred (unless you spend a LOT on airfare, but then you would probably have said that). Other than possibly increasing your average account age, the Gold seems out of place in your lineup.

 

Also, I am assuming that your Blue Cash is the Everyday, since you got it recently. If it is the older Blue Cash with spending tiers, the overall conclusion is the same, unless you spend a lot in pharmacies, which you did not tell us.  

Message 2 of 14
raenys
Frequent Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?

Wow! Thank you so much for your insight!

I do not not travel and I do not use pharmacies.

And yes....it is the Blue Cash Everyday.

 

Should I cancel the Gold because of the fee or put in sock drawer and take it out to play on occasion just to keep it active?

 

Thanks again!!!

Message 3 of 14
trumpet-205
Valued Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?

Let's do some math shall we?

 

Blue Cash Everyday

 

$400 grocery per month = $12 cashback per month ($400 x 0.03).

$100 gas per month = $2 cashback per month ($100 x 0.02).

 

Annual cashback = $168 cashback per year ($14 x 12).

 

Blue Cash Preferred

 

$400 grocery per month = $24 cashback per month ($400 x 0.06).

$100 gas per month = $3 cashback per month ($100 x 0.03).

 

Annual cashback = $249 cashback per year ([$27 x 12] - $75).

 

Yep, go with Blue Cash Preferred.

 

If you do not travel, I don't see the point of keeping AMEX Gold.

Message 4 of 14
bunnyrabbit
Valued Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?


@trumpet-205 wrote:

Let's do some math shall we?

 

Blue Cash Everyday

 

$400 grocery per month = $12 cashback per month ($400 x 0.03).

$100 gas per month = $2 cashback per month ($100 x 0.02).

 

Annual cashback = $168 cashback per year ($14 x 12).

 

Blue Cash Preferred

 

$400 grocery per month = $24 cashback per month ($400 x 0.06).

$100 gas per month = $3 cashback per month ($100 x 0.03).

 

Annual cashback = $249 cashback per year ([$27 x 12] - $75).

 

Yep, go with Blue Cash Preferred.

 

If you do not travel, I don't see the point of keeping AMEX Gold.



+1     

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 5 of 14
raenys
Frequent Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?

Wow! Can't thank you enough for the math!

I actually spend $100 per WEEK on gas....so it will even be better!!!!

 

 

Message 6 of 14
bunnyrabbit
Valued Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?


@raenys wrote:

Wow! Can't thank you enough for the math!

I actually spend $100 per WEEK on gas....so it will even be better!!!! 



Good!     Good Luck on your PC !!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 7 of 14
trumpet-205
Valued Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?

Let's do some math shall we?

 

Blue Cash Everyday

 

$400 grocery per month = $12 cashback per month ($400 x 0.03).

$400 gas per month = $8 cashback per month ($400 x 0.02).

 

Annual cashback = $240 cashback per year ($20 x 12).

 

Blue Cash Preferred

 

$400 grocery per month = $24 cashback per month ($400 x 0.06).

$400 gas per month = $12 cashback per month ($400 x 0.03).

 

Annual cashback = $357 cashback per year ([$36 x 12] - $75).

 

Updated

Message 8 of 14
raenys
Frequent Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?

You rock Trumpet! Thanks again!

Yep....looks like a no brainer. 

I think I will keep the Gold open for now. I don't want AMEX mad at me.

Message 9 of 14
tntexans72
Valued Contributor

Re: Upgrade from AMEX Blue Cash to BLUE PREFERRED?


@raenys wrote:

You rock Trumpet! Thanks again!

Yep....looks like a no brainer. 

I think I will keep the Gold open for now. I don't want AMEX mad at me.



You already took a hit (iquiry) for the amex gold...you never know, maybe down the road you want to upgrade to Platinum when the opportunity is right for you. Having the gold will make things alot easier per say.

Message 10 of 14
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