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I’ve written about Amex EveryDay Preferred card numerous times, and consider it one of the best products for a middle-class family. As a reminder, you can get 4.5 Membership Rewards points on groceries, 3 points on gas, and 1.5 points on everything else. The annual fee is somewhat reasonable at $95. Plus, Amex cards come with various perks that may offset it.
But there is one small nuance: You have to make 30 purchases per billing cycle in order to get this return on spending. It probably won’t be a big deal for most normal people, but I’m not normal. I switch credit cards constantly, and remembering this pesky detail can be a bit of a hassle.
I actually got this card a few years ago and intended to renew it. However, I’ve forgotten to do small Amazon reloads during some months, and as a result, got 3 MR points per dollar on groceries instead of 4.5 points. Sure, it’s not terrible, but hardly worth paying a $95 fee each year.
The whole thing just felt like a nuisance, so I’ve decided to downgrade the card to Amex EveryDay at the end of 12 months (so I wouldn’t lose the sign-up bonus). Amex EveryDay doesn’t have an annual fee, and is a good way to keep your Membership Rewards currency alive and well.
Doing the downgrade via chat was super easy, and took maybe 3 minutes. But then something surprising happened. Only two days later, I got an offer to upgrade back to Everyday Preferred version and get 25k MR points in the process. I would have to also spend $2k in 3 months and pay $95 fee, of course. That seemed like a good deal, especially since there would be no credit pull involved. So I took it.
A deja vu
I figured I would keep the card another year and see how I felt about it. Even if I didn’t use it all, getting 25k points for $95 is extremely profitable. And if you meet $2k minimum spend by buying groceries (and don’t forget to do Amazon reloads), it’s a smoking hot deal.
Well, at the end of the year, my feelings haven’t changed, so I’ve decided to downgrade it yet again. Another five minutes spent on Amex chat, and I was good to go. You know where this is going, right? Yes, two days later, I got an upgrade offer for 25k points, same terms as last time. Done! That was actually quite unexpected, since I figured my upgrade offer was a one-time deal.
But the story isn’t over yet. A few days ago, my third 12-months cycle came to an end, so it was time for my third customary Amex chat. Same story. And yes, two days later I got an upgrade offer yet again. Except this time it was for 40k points instead of the usual 25k points. Obviously, I accepted.
I’m not too sure about the algorithm these guys are using. It seems that “fool me once, shame on you, fool me twice…” principle should apply here. But clearly, somebody really wants me to make this card a permanent keeper. Which, of course, I’m not going to do.
This has become a fun game of sorts. I can’t wait to see what my next upgrade offer will be like. A 100k points? I doubt it, but wouldn’t that be nice.
All jokes aside, I do think this is a good option for folks who like to use one card for most of their purchases. I know I use plastic at least 30 times each month without even thinking about it. And 4.5 points per dollar return towards groceries (all year long) is nothing to sneeze at. Just keep mind that you only get it on $6k worth of purchases per year. Still, it’s an easy way to pick up some very valuable flexible points. There are no limits on gas or anything else.
This card isn’t in affiliate networks, but you can apply online or via someone’s referral. Here is mine I do recommend you check links in incognito mode as well, because they may be higher than my referral offer. Who knows, maybe you can get on the same downgrade/upgrade gravy train as me.
Also, keep in mind that some referral links on Amex Gold card currently have an offer of 90k points, which would be my pick over Amex Everyday Preferred. As I’ve said many times, sign-up bonuses is how you get ahead in this game via minimal effort. Though you can probably put upgrade offers in the same category as well.
CLICK HERE TO VIEW VARIOUS CREDIT CARDS AND AVAILABLE SIGN-UP BONUSES
Author: Leana
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.
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@Leana Same here (downgraded and immediately got upgrade offer). When I first called to downgrade the rep advised me to wait until a specified date “so as not to lose points “. I did and then only got a prorated refund at that point (but only paid about $12 so worth it).
I’d hesitate to upgrade again but your experience is encouraging.
@Audrey Yeah, it’s important to wait at least 12 months after accepting the last upgrade offer (or sign up bonus) before downgrading again.
Did you pay the next annual fee before downgrading? I just did, because I wasn’t sure of the clawback rules, but I want to downgrade – even without further upgrade offers!
I did pay the annual fee when I upgraded of course, so can I downgrade and ask for this one back?
@Audrey The fee posted, but was refunded after I downgraded the card. Then when I upgraded, they charged it again ( totally expected).
Thanks. Hopefully it’s not too late for a refund. Shall give it a try!
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That’s a crazy story!
I’m at the end of year 1 with my Preferred upgrade. I was leaning towards keeping it (rather than downgrading) because I’m in Amex popup jail. I thought paying the fee and using the card regularly might help. But now I might reconsider….
As an aside – I’m really not sure why I’m in jail because I only have 2 Amex cards (both of which I pay fees to maintain), I do some spending with my Amex cards, and I haven’t opened or closed many cards over the past few years. Oddly, while I can’t get seem to get approved for any new Amex cards, they’ve been generous with upgrade offers – both with Amex Preferred and from Delta Gold to Platinum.
If I can’t get approved for new cards, I may as well take advantage of these upgrade offers…
@Seth I’m in the same Amex pop-up jail and frankly, I don’t blame them! That algorithm formula is 100% correct in my case. I did get approved for targeted Delta offer last year, so I suggest keeping an eye on mailers from Amex.
As far as your Preferred card goes, I recommend downgrading and waiting for a similar offer. You can always upgrade without bonus, so there is zero risk. I don’t know how much longer this gravy train will keep rolling, but I’m on my third upgrade. And it’s the best one yet! Worth a shot.
After reaching the 30 transactions, do you not make the additional 50% bonus, getting 4.5 points, from ALL purchases during the period, not just on grocery purchases as you cited?
@DonDoer As far as I know, this card normally gets 3 points on groceries and 4.5 points if you make 30 transactions each month. You get 1 point on all other purchases, and 1.5 if you meet the requirement. So, 50% bump.
LOVE this story! The only thing holding me back on getting amex cards was that it seems like a lot of merchants won’t accept them due to their high processing fees. You havent come up against that in your area? Maybe i need to check into it again!
@Sara I normally don’t have this issue, though my husband has come across small restaurants that don’t accept Amex. You definitely want a backup Visa or MasterCard with you at all times, just in case. Most grocery stores do accept Amex, and that’s where the strongest earning potential lies with Amex Everyday Preferred. Plus, Amex has some nice savings opportunities via offers in profile. Of course, the main attraction is the initial sign-up bonus, or upgrade opportunities like the one I’ve described.
I also received a 40,000 upgrade offer. Do you know if upgrade offers count towards 5/24?
And am I correct in this is more than you would get if you just applied to the card outright? I’m just seeing 15000 bonus poitns.
@HML No, it shouldn’t count towards 5/24 status since it’s the same card, with the same number. Definitely upgrade, it’s a no-brainer.
The original signup offer on this card varies, but generally nothing to brag about. But the points earning potential is very strong, so worth considering under the right circumstances.
Thanks Leana,
I just “chatted” with AMEX as well and they confirmed that there is no hard pull and I keep the same credit card number.
I just got another card but this will fit in fine since I have six months to meet the spend.
@HML Great!