Update 5/8/20: DoC reports a new round of people targeted and shared a link to check for this upgrade offer that came from reddit (YMMV). Apparently DPs are mixed about the extended timeframe to meet the spending requirement, so I’d follow the advice in this post to reach out to Amex after upgrading to confirm your deadline in writing.
Original post with full details follows.
Recently, Doctor of Credit reported a good upgrade offer that some are seeing available on their Amex Everyday credit cards: earn 25,000 Membership Rewards points after spending either $2,000 or $2,500 in the first 3 months after upgrade (the targeted offers vary). I believe that the extra 3 months Amex is offering members to meet spending requirements would also apply to an upgrade, so you would likely have 6 months to meet the spending requirement. That’s a pretty good offer (and it’s possible that you’ll see other offers in your various accounts).
- Amex is offering some targeted cardmembers the opportunity to upgrade from the Amex Everyday credit card to the Amex Everyday Preferred and earn 25,000 Membership Rewards points after spending either $2K or $2.5K in the first 3 months (which should really be six months if you upgrade by 5/31/20).
- No link: log in to your Amex account and you should see the upgrade account in your Amex Offers section or log in and go to AmericanExpress.com–>Cards–>View all credit cards and you may see an upgrade offer there when logged in
The offer reported by Doctor of Credit is excellent. While people are sometimes targeted for a slightly higher new cardmember bonus of 30K points, this upgrade offer beats the usual standard offer on that card.
Furthermore, you’ll want to check the terms of your targeted offer, but these upgrade offers typically do not contain lifetime language — meaning that you may be eligible even if you have had the card to which you are upgrading before.
While the DoC report was about an upgrade offer from the Everyday to Everyday Preferred, keep it mind that it is also common to see upgrade offers in other card families as well — for example, from the Business Gold to Business Platinum (sometimes as high as 75K points after min spend for upgrading), the Hilton Surpass to Aspire (sometimes matching the 150K offer that is available for new cardholders), etc.
Advantages of upgrading include the lack of lifetime language (usually) and the fact that it does not add a new account against your 5/24 count. If you’re never had the target card to which you’re upgrading, you should consider whether you’d prefer to get a new cardmember bonus on that card instead (once you have upgraded, you will be locked out of a new cardmember bonus on it since Amex typically restricts welcome bonuses to those who have not had the card before).
As noted at the top, Amex is currently extending the timeframe to meet minimum purchases for those who are approved for new accounts by 5/31/20 (and those who were approved since 12/1/19). I believe that would apply here, giving you three additional months to meet the minimum spending requirement, but I’d recommend chatting with the Amex team to confirm.
H/T: Doctor of Credit