Originally Posted by
Mark202
Jags86, what are the benefits of the "upgrade/downgrade train"? Do you wait for Amex to give you an incentive to upgrade, you take it, and then downgrade again to avoid the AF?
Edited to add: I have a BCP and have been planning to downgrade it to the BCE when I get a Citi Custom Cash to use at supermarkets, so I'm curious about the strategy here.
AMEX typically offers upgrade offers on both the BCE to BCP and the ED to EDP. For example, AMEX might offer you $250 after spending $3000 in 3 months to upgrade from the BCE to the BCP. You have to pay the $95 annual fee, but you net $155 plus the 6% at grocery stores. You need to keep the card for a full 12 months before you downgrade back to the BCE. On the ED to EDP, AMEX typically offers 25,000 to 40,000 MR points to upgrade from the ED to the EDP and you get the 4.5 MR at grocery stores. Same deal, must keep for 12 months before you downgrade. For whatever reason, the upgrade offers appear very shortly after you downgrade. I've done this probably 10 times between the two cards.