[New Product] AMEX Everyday & AMEX Everyday Preferred

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thom02099
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Postby thom02099 » Sun Mar 02, 2014 9:42 am

Meh...I'll just hold on to the BCP I recently got. Now if they allow me to PC my Clear to one of these new cards....

To the OP, appreciate your posting this information, hard to get advance notice on new products like that. Kudos to you !!!
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EQ = 846 EX=828 TU = 836 as of 02/2016


travisrauh
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Postby travisrauh » Sun Mar 02, 2014 11:23 am

thom02099 wrote:Now if they allow me to PC my Clear to one of these new cards...

I regret to inform that CLEAR will not be able to be product changed into this - I already asked because I want to PC my own. It can't be done because of the special fee structure (late fee waiver, balance transfer fee waiver, cash advance fee waiver, etc.)

freyj6 wrote:This is interesting. What do you guys value MR points at?

It really depends on how you redeem your MR points - generally though, it's 10,000 MR = $100

Various Posters wrote:BCE/BCP is worth way more than this - why would anyone get this?

I think it's important to keep in mind the difference in the rewards - 3/2/1 or 6/3/1% cash back is different than MR points - it depends on exactly how you use your rewards and what kind of rewards you're looking for. Many people like to redeem their points for merchandise, gifts for others, travel partner points, membership fee reimbursements, etc. This card is more targeted toward the person who wants Premier Rewards without the requirement of paying a $175 fee or having to pay in full every month.
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

Robrus1
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Postby Robrus1 » Sun Mar 02, 2014 11:57 am

travisrauh wrote:I regret to inform that CLEAR will not be able to be product changed into this - I already asked because I want to PC my own. It can't be done because of the special fee structure (late fee waiver, balance transfer fee waiver, cash advance fee waiver, etc.)


It really depends on how you redeem your MR points - generally though, it's 10,000 MR = $100


I think it's important to keep in mind the difference in the rewards - 3/2/1 or 6/3/1% cash back is different than MR points - it depends on exactly how you use your rewards and what kind of rewards you're looking for. Many people like to redeem their points for merchandise, gifts for others, travel partner points, membership fee reimbursements, etc. This card is more targeted toward the person who wants Premier Rewards without the requirement of paying a $175 fee or having to pay in full every month.


Thanks for posting about this, Travis. It's interesting, but for me personally, I'll still stick to my BCP because from a pure profit standpoint, it's still the better card, especially given the amount I spend on gas and groceries. Since 10,000 MR points usually only equates to $100, even if I used my BCP for travel, I could simply use my cash back for a statement credit after paying for the travel, which means no restrictions on what airline I can transfer the point to, and still get a credit. I find that points go further when I transfer the points to an airline as opposed to paying with them for flights through the AmEx website.

I understand what you're saying and why this card might appeal to a lot of people, but I still think my rewards will be greater with BCP. The swipe thing makes it a bit gimmicky and seems like a potential headache, even with the app swipe counter. Thanks again for being here and keeping us informed, I really do appreciate it.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
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MrMosby
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Postby MrMosby » Sun Mar 02, 2014 12:41 pm

Well if you value MR at 1.5 cents per point which is the most common valuation I see you would have 4.5/3/1.5 without the dividend. If you hit the dividend requirement (which shouldn't be hard, I had over 100 transactions in February across all my cards and that's a short month) you would be getting 6.75/4.5/2.25 cents per dollar spent in the category if the memberships rewards are valuable to you.

In all truth this will have better rewards than the PRG if you are going after MR points. It probably would be a good companion with the Platinum card. Platinum for perks, Everyday Preferred for your every day spending.

I think the thing that makes it difficult is if you have other cards in your arsenal that you are using as well that have certain requirements.
i.e. My Ritz carlton card I need to do $10K/year to maintain my Ritz Gold status, and balancing earning UR, MR, etc on top of it. Ultimately getting this card is worth it, but it requires a slight change of strategy. But maybe it's time for that anyways, with all the recent devaluation's maybe I need to focus on my UR/MR earnings for free travel and use the UR Store and Amex Travel for booking instead of worrying about the individual hotels (although you can really rack up the points using a hotel card at their respective properties).
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

GoCreditGo!
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Postby GoCreditGo! » Sun Mar 02, 2014 1:12 pm

What would happen if you ran 20 transactions at the self serve check out on 20 items in one go?

Luxe wrote:It would be especially frustrating when a merchant (especially restaurants) does not take Amex and I am a few purchases away from reaching the requirement.


MrMosby
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Postby MrMosby » Sun Mar 02, 2014 1:12 pm

Well that was disappointing - I called about the new card to see if they could mark my account to convert to Everyday Preferred from Blue Cash Preferred, got foreign customer service - and they didn't even know what the new card was, and the transferred me to business card applications even though it was a personal card.

These are the unfortunate examples where Amex has really slipped IMO, the value is still there in getting what you pay for, but the customer service isn't what it used to be :-(
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

Robrus1
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Postby Robrus1 » Sun Mar 02, 2014 2:02 pm

MrMosby wrote:Well that was disappointing - I called about the new card to see if they could mark my account to convert to Everyday Preferred from Blue Cash Preferred, got foreign customer service - and they didn't even know what the new card was, and the transferred me to business card applications even though it was a personal card.


That's odd. Maybe it's because it's not available yet.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

freyj6
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Postby freyj6 » Sun Mar 02, 2014 3:08 pm

MrMosby wrote:Well if you value MR at 1.5 cents per point which is the most common valuation I see you would have 4.5/3/1.5 without the dividend. If you hit the dividend requirement (which shouldn't be hard, I had over 100 transactions in February across all my cards and that's a short month) you would be getting 6.75/4.5/2.25 cents per dollar spent in the category if the memberships rewards are valuable to you.

.


This is more in line with what I was thinking. I do think that from a strict points back perspective, this card has the potential to be very competitive. For travel hackers, I've often seen MR points valued at 1.5-2.0, and like you mentioned, even 1.5 puts it above the competition with 6.75 and 2.25.

That being said, my concerns are:

-Getting max value out of MR points seems really complicated. REALLY complicated.

-Building on that, this card is set up to be a staple card to put most of your spending on. Basically all groceries, gas and uncategorized. That means you're going to have A LOT of MR points to use, and given the complication, it sounds like a big hassle to try to get 1.5+ for all your travel expenses. Spending 25k on this card and then having to maximize 62,500 MR points each year seems like a lot of work.

I think what I'll probably do is try the no fee version first and see how difficult it is to get full value out of MR. If it's not a huge problem to get over 1.5, I'll make the preferred my staple card.
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travisrauh
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Postby travisrauh » Sun Mar 02, 2014 4:07 pm

MrMosby wrote:Well that was disappointing - I called about the new card to see if they could mark my account to convert to Everyday Preferred from Blue Cash Preferred, got foreign customer service - and they didn't even know what the new card was, and the transferred me to business card applications even though it was a personal card.


Wow - sorry about that, MrMosby! Though it is a brand new card, we've known about it for several weeks and there's no excuse for them to not have been able to answer your enquiry - foreign or not. To answer your question, there is no way we would be able to mark your account to be converted automatically - you would need to call us after April 2nd in order to request the product change.
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

MB131174
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Postby MB131174 » Sun Mar 02, 2014 6:21 pm

I really hope I can PC my BCE to this card. I was told it could only be PC'ed to other "blue" cards. *fingers crossed*
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