Blue Cash Preferred Upgrade Offer – Check Your Accounts
American Express is sending out upgrade offers to Blue Cash Everyday cardholders. We’ve seen offers for this card in the past, but this one is slightly different. Amex’s upgrade offers are one of the things I like most about their program. It allows you to essentially get a welcome offer without a hard pull. And, it can be like a double dip if you have had the card in the past. That is because it is available to previous cardholders too. Check your Amex offers section under your Blue Cash Everyday card for this Blue Cash Preferred upgrade offer.
If you have never held the card before it may be better to sign up for a card first before taking the upgrade offer. Once you take an upgrade offer you will be ineligible for any future welcome offers on that card.
UPDATE 3/22/22: More people are being targeted.
Details of the Offer
Here are the details of the offer:
- Earn a $150 statement credit after spending $1,000 within 3 months of accepting the offer.
- The $95 annual fee is waived.
You can use your old Blue Cash Everyday card until the new Blue Cash Everyday Preferred card comes and it will work as if it is the new card. Any purchases made on the old card, after accepting the offer, will count towards the spending requirement and will earn at the increased rates.
Amex Blue Cash Preferred Details
- 6% cash back at U.S. supermarkets on up to $6K per year in spend
- 3% cash back at U.S. gas stations and select U.S. department stores
- 1% cash back everywhere else
- $95 annual fee (after the first year)
Final Thoughts
If you have carried the Blue Cash Preferred in the past then this is a no brainer offer. Normally the offer is for a $250 statement credit but the annual fee is not waived. So this is essentially the same thing.
Earning 6% on grocery purchases is about as good as it gets. Once you upgrade you may want to keep the card long term since you only need to spend $3166.66 in the grocery category to offset the increased fee. Or you may want to downgrade it again after 12 months and hope for another upgrade offer.
Remember to hold the upgraded card for at least 12 months after accepting the offer. You don’t want to end up on the American Express shutdown and clawback list do you?
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now
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Learn more about this card and its features!
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The BCP rewards tiers are not an upsized Blue Cash Everyday schedule:
– 6% also applies to streaming (same merchants eligible for the 2020 Platinum credit) in addition to supermarkets
– 3% uncapped for transit (including Uber and parking) and gas
– 1% on everything else including department stores
I took advantage of the upgrade offer given the lack of an annual fee the first year and impact to 5/24. Also after the 12 month period, the first annual fee charged is prorated based on your anniversary date.