Upgrade offer to upgrade Blue Cash to Blue Cash Preferred

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This is email targeted and says: with this special offer, you can earn a $150 statement credit after you spend $1,000 in purchases on your new Card in your first 3 months. The Blue Cash Preferred Card has an annual membership fee of $95. Is this something I should consider and how can I get around the membership fee of $95? Also, do I lose Reward Dollars I have currently with the Blue Cash in the upgrade?

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I doubt you will get around the annual fee -- if you did it would be a "different" offer and negate the one you have. Its worth it if you intend to use the new card for all your groceries, and not otherwise. (6% grocery rebate) Since it is an upgrade of your existing card your dollars will not be affected.

Did this a few months ago. Annual fee that hit my account was pro-rated. Called after 2 months of meeting spend because offer had not posted and after being transferred to a US rep, they were able to do a manual statement credit/adjustment that posted within a day. Reward dollars did not go away and stayed past the conversion.

I got the email months ago, tried to upgrade but the offer wasn't attached to my account.
They opened an investigation and I never heard back.
I'm done with Amex. Their customer service can be awful nowadays.

What about upgrading and after receiving the credit either closing the account (still ahead after paying annual fee) or downgrading back to Blue Cash? Would this be a good idea?

SinbadS said:   What about upgrading and after receiving the credit either closing the account (still ahead after paying annual fee) or downgrading back to Blue Cash? Would this be a good idea?
  I doubt you can avoid paying the annual fee. Most of the time, it's billed right away. I'd upgrade, pay the fee, which is more than offset by the bonus, then enjoy the additional benefits for a year. When the next annual fee hits, call to downgrade. They'll either downgrade you and refund the fee, or give you an offer to keep the preferred card. 

just got confirmation my prorated fee will be refunded on my next statement. i downgraded after the statement closed with the statement credit of 150. confirmed credit wouldnt go away, and got grocery gcs to partially reach the total under the 6% rate. if you aren't going to spend enough in the year you have (3% of X) to be larger than the annual fee it makes no sense to keep it upgraded. (there may be some other unique preferred benefits I don't know about, but from a cashback perspective its true). plus, you may get another offer next year or so (and/or quicker) than you would have otherwise if they keep doing this.

What does prorated fee mean exactly? If I upgrade on Jan. 31 does it mean they are going to charge me annual fee for January only (one month)? That is, 95/12=$7.92 for 2017? And then I can call them later to downgrade and ask for a refund after I got my statement credit ($150)?

Are you upgrading from the real Blue Cash card with $6500 minimum threshold or from Blue Cash Everyday?  Don't give up the former.  It's too valuable.

DTASFAB said:   Are you upgrading from the real Blue Cash card with $6500 minimum threshold or from Blue Cash Everyday?  Don't give up the former.  It's too valuable.
  I used to have the real Blue Cash but it was converted to Blue Cash Everyday by them. The net for this deal is not that great: $95 annual fee. $18.70 fee to pay $1,000 in taxes (pay1040.com). The net: $150-$95-$18.70 = $36.30

SinbadS said:     I used to have the real Blue Cash but it was converted to Blue Cash Everyday by them. The net for this deal is not that great: $95 annual fee. $18.70 fee to pay $1,000 in taxes (pay1040.com). The net: $150-$95-$18.70 = $36.30
Don't pay taxes with it, buy groceries (to get the 6% cashback).

Ya I don't understand why this is a question OP. If you actually use the card its worth upgrading, if you don't then its not worth the effort. 6% on groceries is worth it in and of itself, since every grocery store I know you can buy gift cards as well so if you don't use it for groceries you would be able to use it for gc. So 6% * 6000 = 360 - 95 = 255 > 3% * 6000 = 180. Not to mention if you don't have a better gas or department store card you get 3%.

gotpong said:   Ya I don't understand why this is a question OP. If you actually use the card its worth upgrading, if you don't then its not worth the effort. 6% on groceries is worth it in and of itself, since every grocery store I know you can buy gift cards as well so if you don't use it for groceries you would be able to use it for gc. So 6% * 6000 = 360 - 95 = 255 > 3% * 6000 = 180. Not to mention if you don't have a better gas or department store card you get 3%.
  That is good advice. Which major grocery stores in CA sell Visa gift cards? I know Safeway sells AmEx GCs but not sure about Visa.

runoff said:   
gotpong said:   Ya I don't understand why this is a question OP. If you actually use the card its worth upgrading, if you don't then its not worth the effort. 6% on groceries is worth it in and of itself, since every grocery store I know you can buy gift cards as well so if you don't use it for groceries you would be able to use it for gc. So 6% * 6000 = 360 - 95 = 255 > 3% * 6000 = 180. Not to mention if you don't have a better gas or department store card you get 3%.
  That is good advice. Which major grocery stores in CA sell Visa gift cards? I know Safeway sells AmEx GCs but not sure about Visa.

  
Pretty much every store, its an easy profit line for them.

Amex promos are once per lifetime I believe? So there is no benefit to cancelling my BCE and reapplying for a new signup bonus?

infogirlgeek said:   just got confirmation my prorated fee will be refunded on my next statement. i downgraded after the statement closed with the statement credit of 150. confirmed credit wouldnt go away, and got grocery gcs to partially reach the total under the 6% rate. if you aren't going to spend enough in the year you have (3% of X) to be larger than the annual fee it makes no sense to keep it upgraded. (there may be some other unique preferred benefits I don't know about, but from a cashback perspective its true). plus, you may get another offer next year or so (and/or quicker) than you would have otherwise if they keep doing this.
  This is called Reversal not Downgrade. Reversal is allowed within 45 of Upgrade. What you did was a Reversal and not a Downgrade and therefore you were refunded and didn't lose your statement credit of $150.

last year the fee was 75. They are getting pricey. Actually priced themselves out of my member ship because I earn more on my BOA Card AT 5.25% without the $95 fee. The Merrill edge accoount is paying  off in many ways. 

Eta. Losing my mind. That is only for gas. May have to keep the card after all. 



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