Upgrading BCE for BCP..

[Anonymous]

I have an offer on my account to upgrade to the blue cash prefered, with 250 back with 2000 spend in 90 days. 

Can I accept this offer and downgrade after the year? Mostly want it for the 250, and the 6 percent back is nice, but I don't need another annual fee card.

The Amex rep said I can downgrade no problem. Just want to confirm this is true. They also said my APR remains the same, statement dates, numbers etc..

I hope so cause I got that 6.99 apr for the next year

[Anonymous]

AMEX has recently changed rules when it comes to bonus and downgrading/closing cards. I would double check. On the other hand, if you spend the $6k/year in groceries, the AF is nothing compared to what you get in cash ($265). BCP is a keeper!! AND that's not including the 3% on gas.

[Anonymous]

If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

[jlitnns]

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@Anonymouswrote:

I have an offer on my account to upgrade to the blue cash prefered, with 250 back with 2000 spend in 90 days. 

Can I accept this offer and downgrade after the year? Mostly want it for the 250, and the 6 percent back is nice, but I don't need another annual fee card.

The Amex rep said I can downgrade no problem. Just want to confirm this is true. They also said my APR remains the same, statement dates, numbers etc..

I hope so cause I got that 6.99 apr for the next year

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Seems like a legit deal. Take it! I can't confirm it but I have read that you can switch.

I've had BCP for about 10 months and got the BCE in January thinking I might downgrade but I like the BCP and have already more than paid for the AF for now. We do a lot of groceries with 4 boys, they're little now but will continue to grow in the future...

[Gmood1]

I'll just swap my BCP for your BCE.😀
I'm going to downgrade mine next month. Kids slowly moving out. So the groceries bill is half of what it used to be. Makes it not worth the fee anymore.

[Anonymous]

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@Anonymouswrote:
If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

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Right, and also other places that Amex doesn't consider as supermarkets but work with 2% V/MC (Target and Walmart superstores are common examples).

[Gregory1776]

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@Anonymouswrote:
If it helps, the annual breakeven in grocery spend for the Amex BCE vs BCP question is 95=(.06-.03)*GrocerySpend => 95/.03=3167.

That is, unless you have a card with 5% rotating that includes a quarter for groceries. In that case, it’s 95=GrocerySpend*[3/4*(.06-.03)+1/4*(.06-.03)] => 95/.025=3800.

Groceries at Costco (have to buy with a visa & that’s likely the Costco card) or Whole Foods (Amazon/Amazon prime cards, are 3% & 5% respectively) are not included in this calculation.

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Smart guy! 😦😦😦

[Anonymous]

So I just called and they confirmed everything

I basically would be prorated the annual fee till my anniversery date

It almost seems like a no brainer to me. I would get a 27 dollar fee on my next statement, since thats the prorated charge and in 4 months they would hit me with the 95 dollar annual fee on the anniversary

I figure ill get the rewards, use it at least the next 4 months, then downgrade if I don't like it. For 27 bucks, seems worth it to get the 250 and at least try it tillt he anniversary date I opened the account

Seems like a win win to me folks..

[jlitnns]

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@Anonymouswrote:

So I just called and they confirmed everything

I basically would be prorated the annual fee till my anniversery date

It almost seems like a no brainer to me. I would get a 27 dollar fee on my next statement, since thats the prorated charge and in 4 months they would hit me with the 95 dollar annual fee on the anniversary

I figure ill get the rewards, use it at least the next 4 months, then downgrade if I don't like it. For 27 bucks, seems worth it to get the 250 and at least try it tillt he anniversary date I opened the account

Seems like a win win to me folks..

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Sweet deal! Congrats!

[Anonymous]

One last question for people who have the card

Do only certain grocery stores on a list get you 6 percent cash back, or is it any store that is coded as " grocery "

I know places like target and walmart don't but they arent coded as grocery

I have another credit card that lists this place I get lunch from everyday as " grocery ".

It would be great if I got 6 percent back since I go there everyday