Saturday, November 26, 2022

Can You Upgrade Amex Cards

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American Express Gold Card

Should You Upgrade Your American Express Card?

60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.

See Pay Over Time APR

  • Rose Gold is here to stay. Card Members can choose between a Gold or Rose Gold Card.
  • Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.
  • Earn 4X Membership Rewards® Points at Restaurants, including takeout and delivery, and earn 4X Membership Rewards® points at U.S. supermarkets .
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
  • $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • No Foreign Transaction Fees.

Ask About Rewards Transfer

If your current credit card has a rewards balance you want to keep, make sure you ask about the transfer of those rewards ahead of time. Some upgrades or downgrades within the same program may not result in any change at all. On the flip side, there may be instances where the value of your rewards will change due to the new card you chose. Either way, find out before you make a move you cant undo.

How To Make The Most Of Your Upgrade Or Downgrade

Whether you are planning to upgrade or downgrade your card, there are some things to keep in mind to make the most of the transition. Most importantly, make sure you are changing to a card that better suits your spending habits and rewards goals. Here are a few other things to do to get the most of your product change.

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American Express Doesnt Offer Any True Charge Cards To Consumers Anymore But If Youre Looking For Flexibility You Can Still Avoid Preset Spending Limits With Several Amex Cards

The American Express® Gold Card, American Express® Green Card and Platinum Card® from American Express all used to be described as charge cards. This meant that while the cards looked and acted like traditional credit cards in terms of making purchases and earning rewards, they typically needed to be paid off in full each billing period you couldnt carry a balance.

Amex has made some changes to its charge cards, though. Now these cards come with options to pay for purchases over a longer time period. The Pay It Plan It® and Pay Over Time features enable you to finance qualifying charges and pay them back over time, for a fee or with interest.

If you tend to spend a lot and usually dont carry debt on your credit cards, these cards can still provide convenience and flexibility. Unlike traditional credit cards, they dont come with hard and fast that youll know upfront instead, the amount you can spend adjusts based on factors such as the purchase and your payment and credit history. Note that this doesnt mean youll have no limit at all.

Heres what you need to know about the best American Express cards with no preset spending limit.

$150

Are You Eligible For An American Express Product Change

How To Use Amex Points For Upgrades On 20 Airlines...

When looking to switch from one Amex card to another, you must first take stock of the type of card you have. Amex charge cards, for example, cant be switched to a revolving credit card, or vice versa theyre two different account types.

In addition, if you have a card thats attached to a loyalty program, such as one of the Delta SkyMiles credit cards, you cannot switch products to a different rewards program.

Four Amex product change rules govern switches:

  • You cannot change from a charge card to a credit card, but you can downgrade a credit card to a charge cardif you can pay off the balance the next month
  • You cannot change from a cash-back card to a membership rewards card. If you have a co-branded card, you can switch to another card under that co-brand
  • You cannot change a business card to a personal card, or vice versa
  • Your account should be in good standing

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What Happens To The Annual Fee When You Product Change A Credit Card

It depends on the credit issuer, but the general rule is that they prorate a refund based on the months you have the card.

This is an interesting strategy for people who missed downgrading the card on the anniversary date. Youll receive a prorated refund based on how many months are left in the cardmember year.

For example, if you have an Amex Platinum card that just renewed, but you want the Gold card instead, Amex would refund the prorated amount for the Platinum and then charge the Gold card annual fee. This assumes that you did NOT receive a retention offer for the Amex Platinum card.

If you received a retention offer, keep the Amex Platinum for the year to avoid getting blacklisted. Its in the terms of the offer that closing a card shortly after accepting a retention offer can qualify as abuse.

Can I Upgrade My Credit Card Without A New Application

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TPG reader Brock emailed me to ask about upgrading a credit card:

I currently have an Amex EveryDay card and use it a ton on groceries and other purchases, but Im interested in the Everyday Preferred card. Could I call American Express and convert from one to the other? If so, will they run another credit check, and will I have the same credit limit?

American Express introduced the EveryDay cards back in 2014, and they continue to be strong options for earning Membership Rewards points with a relatively low annual fee . Both the Amex EveryDay Credit Card and Amex EveryDay Preferred Credit Card let you transfer to airline and hotel partners, but they offer different earning rates and transaction bonuses, so you might find that one of them suits you better based on your spending patterns. Fortunately, Amex makes it easy to switch between the two.

The good news is that upgrading an Amex card wont result in a hard credit pull, since youre just changing products and not opening a new account. That means you dont have to worry about your FICO score being impacted by new credit inquiries or account closures.

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Types Of American Express Credit Cards

American Express is a haven for rewards credit cards, so dividing them up comes down mostly to the types of rewards you earn. Most American Express cards earn rewards points, while a few earn cash back rewards. The rest are co-branded hotel and airline cards that earn loyalty points with their respective brands.

American Express Upgrade Strategy

Should You Upgrade from Gold Delta Amex to Delta Reserve Card?

If you ever receive an upgrade offer to an Amex card that you have never opened before then you are an ideal candidate for the upgrade strategy.

How does it work?

First, lets say you receive an upgrade offer to upgrade the Amex EveryDay to the EveryDay Preferred.

Assuming you have never opened the EveryDay Preferred, the first step will be to apply for the EveryDay Preferred . Once you are approved for the card and on your way to earning the bonus for that card you would then accept the upgrade offer to the EveryDay Preferred.

This means that you will end up having two EveryDay Preferreds. In the process you will earn the welcome bonus for the new card and also earn the upgrade bonus. As long as you can meet the minimum spend for these two bonuses you should be good to go.

This type of thing might be YMMV in some cases so it may not always work 100% of the time but this has been the established method for optimizing bonuses when presented with upgrade offers for a while.

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Consider Your Credit Score

One thing that you will need to consider when going this route is that applying for a new credit card outright will result in a hard credit pull.

And thats not necessarily a bad thing. While your credit might take a temporary 5-10 point hit, your score will ultimately go up if you use that new line of credit responsibly.

Read More: 4 Credit Card Myths You Should Stop Believing.

When you upgrade or downgrade an account, its different: banks call it a product conversion. Essentially, you are just moving an existing line of credit to a different credit card product from that bank. From the banks perspective, it isnt a new line of credit at all and thus they do not need to pull your credit score again.

Of course, the trade-off here is that you either wont earn any points or miles, or much fewer than you could by just applying for the card outright as a new account.

What To Know Before Upgrading A Card

Before diving into each issuers specifics, lets start with a few essential things to know about upgrading cards. When you upgrade a card, you arent opening a new account. So, there shouldnt be a new inquiry on your credit report. Your online login information will stay the same, and while youll receive a new credit card number and a new physical card in the mail, your account history, credit limit and other factors that affect your credit score wont change.

You probably wont see the upgrade reflected anywhere on your credit report. You can use this to your advantage, as upgrading a credit card might be a great option if youre about to close on a house and dont want any new credit inquiries to mess up your mortgage application process.

Another great perk of upgrading a card is that sometimes you can earn a bonus for doing so. If a card issuer launches a new product or wants to entice people to move up to the premium version within a certain card family, it may offer bonus points for upgrading. American Express has been known to do this the most, offering upgrade bonuses from time to time for premium cards such the Marriott Bonvoy Brilliant American Express® Card and the American Express® Gold Card .

Finally, issuers generally wont let you product change between a personal and business credit card.

Related: Can you downgrade and then upgrade the same card?

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Compare The Best American Express Credit Cards For 2022

Amex Gold Card Review: All The 4X Points You Can Eat
Welcome Offer Annual Fee
Luxury travel: The Platinum Card® from American Express 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. 720-850 See Rates & Fees. Terms Apply. On American Express’ Secure Website
Foodies and travelers: American Express® Gold Card 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months. 720-850 See Rates & Fees. Terms Apply. On American Express’ Secure Website
Cash back: Blue Cash Preferred® Card from American Express $300 back after you spend $3,000 in purchases on your new Card within the first 6 months. 720-850 See Rates & Fees. Terms Apply. On American Express’ Secure Website

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Re: Upgrade From American Express Optima To Platinum Charge

Welcome to the forums!

Can’t tell you about the Optima requirements, but a single collection falling off if you have multiple, likely won’t help that much, but paying your utillization down from 75% to 2% or whatever is a major win credit wise.

If you didn’t have an issue with Amex in the past, and that “Settled” line with C1 is a bugaboo, with your revolving utilliztion fix, think you’d be a shoo-in for a Plat if you wanted it, and it does seem like it’s a good fit for you. YMMV with those two issues but if youv’e been treating your Optima well, and you did pay the Amex one in full, I think you have a good shot at approval anyway. You’re looking to spend big compared to a lot of people, and that does buy a tremendous amount of forgiveness with Amex and likely most other lenders as well.

Personally I’d take the swing anyway once the utilization is fixed, as even then a denial is 99.5% likely to be a SP anyway, so there’s really no harm at all taking the chance: you either wind up with what appears to be a great card for you for 1 HP , or nothing happens to your credit report. Really hard to get better than that in the credit card universe.

Best American Express Cards

Who’s this for? If you’re whipping up a new recipe, refueling your car or streaming your favorite TV show, it’s a good idea to consider a card that rewards those purchases. The Blue Cash Preferred® Card from American Express is a great choice for anyone who regularly stocks up on groceries, drives or pays for streaming subscriptions since the cash-back program is tailored to those purchases.

Cardholders earn an industry-leading 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases and 6% cash back on select U.S. streaming subscriptions. Plus you earn 3% cash back at U.S. gas stations and on transit and 1% cash back on other purchases.

The list of eligible streaming subscriptions is longer than most cards and includes Netflix, Spotify, Disney+ and more. Learn more about how Amex classifies bonus category purchases.

In addition to rewards, you can take advantage of no interest on purchases for the first 12 months your account is open .

This card has a $0 introductory annual fee for the first year, then $95 , but it can be offset by the cash back you earn and discounts you can get through the Amex Offers. There’s also a no-annual-fee version, the Blue Cash Everyday® Card from American Express, which is the best no-annual-fee Amex card .

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Delta Skymiles Gold American Express Card

  • Earn 40,000 SkyMiles after you spend $1,000 in purchases in the first 3 months of card membership.
  • Plus, earn up to $50 back in statement credits for purchases at U.S. restaurants with your card in the first 3 months of card membership.
  • Check your first bag free on every Delta flight savings of at least $60 on each round-trip flight, per person.
  • Earn 2x SkyMiles per dollar spent at both restaurants and U.S. supermarkets
  • Earn 2x SkyMiles per dollar on eligible Delta purchases and 1x mile for all other spending.
  • Earn a $100 Delta flight credit if you spend $10,000 on the card in a calendar year.
  • Get 20% off in-flight purchases such as food & drinks in the form of a statement credit
  • No foreign transaction fees

to learn more about the Delta SkyMiles Reserve American Express Card.

Hilton Honors American Express Card

Amex Upgrade Offers: What You MUST Know ( Amex Platinum, Amex Gold, Amex Green )

80,000 Hilton Honors Bonus Points after you spend $1,000 in purchases on the Hilton Honors American Express Card in the first 3 months of Card Membership. Plus, you can earn an additional 50,000 Hilton Honors Bonus Points after you spend a total of $5,000 in purchases on the Card in the first 6 months.

  • Earn 80,000 Hilton Honors Bonus Points after you spend $1,000 in purchases on the Hilton Honors American Express Card in the first 3 months of Card Membership.
  • Plus, you can earn an additional 50,000 Hilton Honors Bonus Points after you spend a total of $5,000 in purchases on the Card in the first 6 months.
  • Earn 7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with a hotel or resort within the Hilton portfolio.
  • Earn 5X Hilton Honors Bonus Points for each dollar of eligible purchases at U.S. restaurants, at U.S. supermarkets, and at U.S. gas stations.
  • Earn 3X Hilton Honors Bonus Points for all other eligible purchases on your Card.
  • No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
  • Enjoy complimentary Hilton Honors Silver status with your Card. Plus, spend $20,000 on eligible purchases on your Card in a calendar year and you can earn an upgrade to Hilton Honors Gold status through the end of the next calendar year.
  • No Annual Fee.

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