AMEX - Increasing Blue Cash Preferred Annual Fee to $95

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augiedog
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby augiedog » Mon Jun 27, 2016 10:56 am

CarefulBuilder14 wrote:
takeshi wrote:
augiedog wrote:If you convert to the Everyday, you still get the best cash back on groceries on any card with no annual fee*

Like any such program, depends on what one can get per point. With MR it's 0.6 to 0.8 cents for me so it's not best by a long shot.

Even with the $20 AF hike that's still $265 annually just on grocery spend. YMMV but we definitely hit the cap on one of ours and come close on the second.

I think "Everyday" refers to BCE here.


Yes, that is confusing. From Preferred to Everyday, not the Amex Everyday, but the Blue Cash Everyday. I have to be very clear about that when I talk about both of my accounts to the service rep.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates


To My Credit
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby To My Credit » Mon Jun 27, 2016 12:09 pm

I just realized that $95 is the same annual fee as the CSP. Don't see the appeal for this card anymore unless you spend obscene amounts on grocery.
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

Tubpbs
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby Tubpbs » Mon Jun 27, 2016 1:26 pm

To My Credit wrote:I just realized that $95 is the same annual fee as the CSP. Don't see the appeal for this card anymore unless you spend obscene amounts on grocery.


You have to spend a little over $3K annually on groceries to make this card more worth it than the BCE, which most people that have it probably do (or at least should). The problem with raising the annual fee, is that it crunches people who this card works for into a smaller and smaller little box.

Whoever responded to my previous post that the strategy is to get people away from the card is 100% correct. They don't want to pay cash when they could pay points. There's no upside for them really.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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CarefulBuilder14
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby CarefulBuilder14 » Mon Jun 27, 2016 10:08 pm

Tubpbs wrote:
To My Credit wrote:I just realized that $95 is the same annual fee as the CSP. Don't see the appeal for this card anymore unless you spend obscene amounts on grocery.


You have to spend a little over $3K annually on groceries to make this card more worth it than the BCE, which most people that have it probably do (or at least should). The problem with raising the annual fee, is that it crunches people who this card works for into a smaller and smaller little box.

Whoever responded to my previous post that the strategy is to get people away from the card is 100% correct. They don't want to pay cash when they could pay points. There's no upside for them really.

They may regret pushing people towards MR cards. If they drive away cash back customers, they may get stuck with even more people like us...un/semi-profitable point chasers who know their bonus categories.

TrueEarnings cards cost Amex cash...but so many people were happy earning 1% cash and not getting a signup bonus.
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

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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby Tubpbs » Tue Jun 28, 2016 5:37 am

I think it's a dumb move.

I had a chat with a rep yesterday where I explained the slap in the face of changing my annual fee for next year (February) to $95 but if Joe Schmo applies for he card between now and August 3, he still gets a $75 annual fee.

They didn't budge.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

Nixon
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby Nixon » Tue Jun 28, 2016 5:52 am

If I find a good offer, I may apply before the new AF is in effect.
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charged
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby charged » Tue Aug 23, 2016 8:32 pm

Tubpbs wrote:
To My Credit wrote:I just realized that $95 is the same annual fee as the CSP. Don't see the appeal for this card anymore unless you spend obscene amounts on grocery.


You have to spend a little over $3K annually on groceries to make this card more worth it than the BCE, which most people that have it probably do (or at least should). The problem with raising the annual fee, is that it crunches people who this card works for into a smaller and smaller little box.

Whoever responded to my previous post that the strategy is to get people away from the card is 100% correct. They don't want to pay cash when they could pay points. There's no upside for them really.



Since both the blue cash every day and blue cash every day preferred sadly cap their cash back on supermarkets at 6k, I really think the blue cash every day which I use is the best offer.
3% of 6k on the BCE is $180, 6% of $6k on the BCEP is $360. When you subtract the $95 annual fee that's only $85 more per year than the other card assuming that they spend the maximum. I really think the BCE is a better deal and people are free from the hassle of the annual fee. If someone combines this with the Chase Freedom during their one season where they have the 5% back on groceries than they get 3-5% rewards on $7,500 worth of food at the supermarket for no annual fee. So I think the "preferred" card in this situation is the one where there is no $95 annual fee only to still get your cash back capped.

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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby Tubpbs » Tue Aug 23, 2016 9:08 pm

I would agree for the most part. Obviously there are other upsides and earning categories on the BCP, but I'd say I'm out for the long run. It's unfortunate.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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amexmember12
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby amexmember12 » Tue Sep 06, 2016 6:48 pm

Tubpbs wrote:I would agree for the most part. Obviously there are other upsides and earning categories on the BCP, but I'd say I'm out for the long run. It's unfortunate.


Me too - about to downgrade my BCP to BCE.
CSR $24K | Discover IT $22.9K | AMEX BCE $15K | AMEX EveryDay $12.9K | Marriott Premier - $11K | Delta Platinum $10K | Freedom $6.5K | Freedom $6K | BOA Travel Rewards - $2.7K | AMEX Premier Gold

Tubpbs
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Re: AMEX - Increasing Blue Cash Preferred Annual Fee to $95

Postby Tubpbs » Tue Sep 06, 2016 6:51 pm

amexmember12 wrote:
Tubpbs wrote:I would agree for the most part. Obviously there are other upsides and earning categories on the BCP, but I'd say I'm out for the long run. It's unfortunate.


Me too - about to downgrade my BCP to BCE.


It does job of making the EDP better.

I may be keeping it just because my grocery spend is pretty consistent and it's at a point where it's simply better to have BCP than BCE.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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