Originally Posted by
mc1973
I did read your post but my point was that the BAPP amex doesn't require and £82 per day spend to break even.
I get what you are saying that once you get the companion voucher you can downgrade for a refund but putting the value of the card as a cost for avios is wrong, the attraction of the card is the companion voucher not the bonus avios. The £150 fee based on a £10k spend gets you a companion voucher and a bonus 5k avios, that is what you need to base the worth on not what you get the net cost of avios points down to.
Of course earning the companion voucher is one of the features of the BAPP, and if your spend is £10k/year or more then it makes sense to hold a BAPP (if you value a companion voucher and avios).
Once you have earned the companion voucher the card requires an £82/day spend to break as you can downgrade keeping the voucher and get a pro-rata refund. My break-even figures were expressly written with that preface to the calculations.