My American Express Everyday Preferred Upgrade Offer
Update: more people have been targeted per comments on Mark’s recent article (8/10/20).
I have held the American Express Everyday card for about 18 months. For a little over six months, I’ve actively watched this card in my online account in the hopes of obtaining an upgrade offer to the American Express Everyday Preferred card. Since I held the Preferred years ago, an upgrade offer was my only (slim) option for obtaining another bonus. Without luck in my online account for six months, I decided to call Amex.
American Express Everyday Preferred Upgrade Phone Call
I called the number on the back of my Amex Everyday card, said “representative” about 17 times, and eventually heard a cheerful CSR. After pleasantries, I described how I hadn’t used my Amex Everyday card in several months. I matter-of-factly asked if there were any offers available to upgrade to the Amex Everyday Preferred card. Fairly quickly, he confirmed an offer was available. The CSR offered the following:
- Earn 25,000 Amex Membership Rewards points
- Must make $2,000 of new purchases on the card within the next three months
- The $95 Annual Fee is pro-rated for the remainder of my cardmember year (about six months)
- This upgrade is a product change rather than a new card application
- The CSR stated that the points could be removed from my account or my Amex accounts could be closed if I downgrade or cancel the card within 12 months. I wasn’t surprised to hear this, considering the latest moves from Amex.
After confirming the above information, I accepted the upgrade offer.
Crunching the Numbers
For the next 12 months, I determined I could earn a considerable amount of Membership Rewards points for the relatively low annual fee. Let’s take a look:
- Upgrade Bonus: 25,000 Membership Rewards points
- 2020 Grocery Spend: 27,000 Membership Rewards points ($6,000 limit earning 4.5 Membership Rewards points when meeting 30 transactions in a statement cycle)
- 2021 Grocery Spend: 27,000 Membership Rewards points (same math as above)
- Total: 79,000 Membership Rewards points
I happily accepted the offer, considering I did not receive this option in my online account previously. Also, I actually appreciated hearing the warning language from the CSR. While stringent, it gave me a clear understanding of what I can and cannot do in order to avoid clawbacks (or worse). So give Amex a call and see what offers are available. It doesn’t hurt to ask!