Amex Green to Amex MB Platinum - Product Change Bonus???

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ScorpioGuy84
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Amex Green to Amex MB Platinum - Product Change Bonus???

Postby ScorpioGuy84 » Sun Jan 03, 2016 10:50 am

I currently have three cards with American Express (Green, Everyday CC and Premier Rewards Gold), and I am wanting to product change my Green Card to the Mercedes Benz Platinum Card. I know that if I apply for the card without doing a product change it comes with a 50,000 MR points sign up bonus after $3,000 in spend within 90 days.

My question is this; Will I be able to do a product change and get this bonus being that I have never had a personal Platinum before?

My history:

I started to rebuild my credit back in May 2014. I started with an auto loan from a local credit union. I got a Cap One card shortly after (Sept 14') and then a Store card (Nov 14').

I applied for the AMEX Green in January of 15' and got an Instant Approval and then 10 min later I applied for AMEX EveryDay CC and got an Instant Approval again.

2 weeks later I applied for the Premier Rewards Gold because the Green Card's points structure is non-existent. I got an Instant Approval again.

I have never carried a balance with these cards and I have always paid them before the statements were cut.

I have never asked for a CLI with AMEX, but they did initiate an auto increase and all that I had to do was accept it on my EveryDay card.

I have one other credit card with my credit union as well as a personal loan.

My AAoA is 1 year and this is all on my Experian file. I have no negative history, excellent payment history and my FICO is at 726 and Utilization is at 11%.

* I contacted Amex this past week about doing an upgrade and they basically said that I need to wait 12 full months before I can upgrade. There was no current upgrade offer. The CSR said that I can even inquire the day after my 12 months which will be the 10th of January.

Do I have a chance at receiving an upgrade bonus with the Mercedes Benz Platinum Card? If I do not, do I have a chance at being approved again for another application?

I currently have 7 inquiries on my Experian file, but it is squeaky clean.

I would appreciate any help ... :)


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CarefulBuilder14
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Re: Amex Green to Amex MB Platinum - Product Change Bonus???

Postby CarefulBuilder14 » Sun Jan 03, 2016 11:59 am

I agree the Amex Green is generally a poor value compared to other products.

Amex sometimes offers a bonus when you PC to a higher-AF product. It's not guaranteed, and I don't know if certain behaviors increase the odds of having an offer.

In mid-November 2015 I got an email invitation to PC my PRG to Platinum for 50k MRs for $5k spend. At that time, Platinum was offering 100k MRs on new accounts.

I have a lot of cards (11) for my spending level. For me, it makes sense to wait for a special bonus before adding a new card. The same may or may not be true for you.

As far as your approval odds, I can only say that Amex tends to rely on internal scoring. If you're spending regularly on your cards and not doing anything they consider higher-risk with your credit (like carrying high balances or opening a huge number of accounts elsewhere) then they will probably want to keep you as a customer. I'd just call later this month and see what your options are. Don't take any one course in a rush.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

ScorpioGuy84
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Re: Amex Green to Amex MB Platinum - Product Change Bonus???

Postby ScorpioGuy84 » Sun Jan 03, 2016 2:00 pm

CarefulBuilder14 wrote:I agree the Amex Green is generally a poor value compared to other products.

Amex sometimes offers a bonus when you PC to a higher-AF product. It's not guaranteed, and I don't know if certain behaviors increase the odds of having an offer.

In mid-November 2015 I got an email invitation to PC my PRG to Platinum for 50k MRs for $5k spend. At that time, Platinum was offering 100k MRs on new accounts.

I have a lot of cards (11) for my spending level. For me, it makes sense to wait for a special bonus before adding a new card. The same may or may not be true for you.

As far as your approval odds, I can only say that Amex tends to rely on internal scoring. If you're spending regularly on your cards and not doing anything they consider higher-risk with your credit (like carrying high balances or opening a huge number of accounts elsewhere) then they will probably want to keep you as a customer. I'd just call later this month and see what your options are. Don't take any one course in a rush.


I went for it, and I was Approved!!! I called in to verify the sign up bonus and everything is good. I am going to close my Green Card this coming week. Having three charge cards is just ridiculous. I really like the MB Platinum Card. I drive BMW, but maybe this is an incentive to look into MB. :)

takeshi
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Re: Amex Green to Amex MB Platinum - Product Change Bonus???

Postby takeshi » Mon Jan 04, 2016 8:50 am

ScorpioGuy84 wrote:Will I be able to do a product change and get this bonus being that I have never had a personal Platinum before?

Not unless you've received an upgrade offer with a bonus.

ScorpioGuy84 wrote:I applied for AMEX EveryDay CC

Make sure you're considering your major spend categories (and if cards maximize rewards on your biggest categories) and how the redemption options you use with Membership Rewards impact rewards value.

ScorpioGuy84 wrote:I have never asked for a CLI with AMEX, but they did initiate an auto increase and all that I had to do was accept it on my EveryDay card.

Why not? Google "3x CLI" and read up.

ScorpioGuy84 wrote:Having three charge cards is just ridiculous.

IIRC the underwriting criteria is the same for all of AmEx's charge cards except for the Centurion. Don't fall into the typical trap of assuming that Green<Gold<Platinum and carefully consider how any card specifically suits you.

ScorpioGuy84 wrote:I drive BMW, but maybe this is an incentive to look into MB.

You don't have to drive an MB to benefit from the MB Platinum. If we were not eligible for the Morgan Stanley Platinum we probably would have signed up for the MB Platinum even though we have no intention of owning an MB unless we ran across a better signup bonus.



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