Time To Drop Blue Cash Preferred?

12 years ago I got my first AmEx card, the Blue Cash Everyday, which I product changed to the Blue Cash Preferred after joining the Navy since the $95 annual fee would be waived. I have kept this card for 12 years only because of the 6% cash back on groceries which cannot be beat. I also kept the card to have a 12 year old anchor to up my credit score. The downside in doing this is one of my valuable 5 AmEx credit card slots has been filled by a card that give me no annual benefit such as a free hotel night and $250 Resort Credit and $250 airline credit like the Hilton Aspire, or a $300 hotel credit and free night like the SPG Luxury or even a companion pass like the Delta Platinum or Reserve. This slot even takes the place of a lesser card such as the Hilton Ascend, Hilton Honors, SPG Personal, or Delta Gold or Blue Sky that could be upgraded to another one of the higher product to double dip.

I came to this realization today when I finally saw how valuable the new Rose Gold AmEx Card is when the 4x MR earning is paired with the 1.25 cents per MR point cash out with Charles Schwab Platinum and 1.5 cents per point for flights with the Business Platinum.

I also came across this article regarding the illogical obsession of pursuing a 850 credit score. Turns out anything over 760 is treated the same as a 850 in terms of best rates. So there goes my main point for having my 12 year old Blue Cash Preferred taking up one of these valuable slots!

The second point of having the card was for 6% on groceries and 3% on gas. Which this new Rose Gold card has taken its place. I already use my CostCo card for 4% on gas which puts this card in the obsolete category. I made this chart below reflecting what cards I currently have and the cash back:

My humble summary of best categories and cards is as such:

Since I rarely shop at department stores we can bring the Blue Cash Preferred to the chopping block. I hope to replace it soon with a Personal SPG card or Hilton Honors card in hops of upgrading for another high level product. This will be my make up as my solid 5 cards:

  1. Delta Reserve
  2. Delta Platinum (Replace with Business Reserve)
  3. SPG Luxury
  4. Hilton Aspire
  5. Hilton Honors (Upgrade to Aspire)

This set up will result in 2 first class companion passes, $300 at Marriott, One 50k Marriott night, $500 Hilton Resort Credit, $500 in Airline Gift Cards, and 2 free Hilton nights every year.

I think its time to drop the Blue Cash Preferred, now that we can get the same bonus on the Rose Gold charge card, thus freeing up one of our valuable 5 card slots. Thoughts? Comment below.


11 thoughts on “Time To Drop Blue Cash Preferred?

  1. Matthew Kelly says:

    Makes a lot of sense! I’m still making my way through the Chase cards, but this gives me some good guidance for going forward!

  2. Andrew Sheep says:

    I totally agree. I dropped my BC Preferred. I now have 2 SPG luxes, Aspire, biz SPG, and will get the Delta Reserve here soon. Too much value elsewhere to keep it; you can always downgrade one of your plats to BC Preferred later if you lose MLA or SCRA benefits.

  3. A kim says:

    Dumb question Can you upgrade the bcp to any cc? Ie Amex spg luxury or Hilton aspire or delta reserve?

  4. Akim says:

    Can you upgrade bcp to spg luxury or Hilton aspire?

    • uiucderp2011 says:

      Hilton honors, Hilton Aspire, and Hilton Ascend are all in the same brand, they can only be turned one to another. BCP can only be a Blue Cash

  5. A says:

    (not sure if this didn’t post)

    Can the Amex Blue cash preferred be upgrade to the aspire or the spg luxury? or only the platinum? thanks!

  6. R says:

    How are you calculating the 7.5% cash back for personal platinum/business?

    • uiucderp2011 says:

      The MR points are worth 1.5 cents towards flights when booking with the biz plat for flights of your selected airline. With 5 points per dollar thats 7.5% back in the form of airfare.

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