@@OfficialChadsMoneyMinutes Since my last comment. I also added the Venmo Visa which does code Walmart and Costco as GROCERY as well at 3%. For Costco, I can also use the Venmo Visa and Amazon Chase Visa card. I product changed my Freedom Unlimited to a Flex to pair with the Discover It Cash Back and the 2 Custom Cashes. When I am out of 5/24 jail in 2026, I can get the Freedom Unimited again and the if I'm up to the annual fee, the Sapphire Preferred to complete the Chase Trifecta.
This video just made me have a big brain move. I applied and got the card. And i just had my wife apply and get it. 12 percent total now for my house for the year. We will switch use of each every six months, family of five 😅
Sorry brother...I can't make myself part ways with the BCP. The cashback for groceries alone absorbs the annual fee for me. Once I hit the $6k cap then I just use the Amex Gold. 😀
I like the Blue Cash Preferred Cash. With the 6% and 3% back. I combine with Uber One and Amex Platinum Uber Credits and now the Uber Delta Platinum really add up every month. I understand your point about the cash back, but I just use it to offset the following months bill. The Gas cash back credit combined with the Mobil/Exxon app which offers savings on top of the PCB card and combined with an AARP monthly credit really adds up. I more than make up my $95 annual fee and then some. I will hold on to it a bit longer.
Wow that sounds packed with value, I've done a video about AARP membership I would love to hear how you maximize it in relation to your credit card strategy.
BCP is great first year if the annual fee is waived. The second year is harder to justify because after you pay $95 you are only getting around 4.4% back on groceries.
Good video Chad. Before I joined Team Travel, I looked at the BCP off and on but could never pull the trigger because the cash back is only in the form of a statement credit. Don't blame you for canceling.
Absolutely and at the time I was so new to the game I didn't understand that would be the case, I think it may have affected my decision to grab it but the fact that it has a gas multiplier also helped with rental cars at work until I got the bonvoy business.
Thank you, for your detailed comments on why, you selected the American Express "Blue Cash Preferred" card and also, why it no longer meets your needs. A someone who does not track points or searches for special offers, I prefer the American Express "Plum" card. This is a "charge" only card with a 1.5 percent (unlimited) statement credit and, when needed has a 60-days (no interest) extended time period to pay-off your card balance. To date, this card has been meeting all of my needs (smile ... smile).
I think the Plum card is definitely not given it's due because it doesn't have the fancy sign up of its siblings. I'm happy to see it's working for you!
I dropped the same card sometime last year. Probably September/October. Instead of canceling, I just downgraded to BCE. Got a 17k SL on it and it boosts my total limit. The BCE is good enough for now while I'm gardening. Gives me 3% online purchases, so that covers me on Amazon right now. Once that FNC offer for the hilton cards pop back up. I'll get either Honors or surpass and, which ever offer shows. Then transfer that limit over and cancel the bce. Then plan on later this year getting the chase amazon card. Just so I can still get the 5% back on Amazon. I'll be at 2/24 end of this year, just trying to stick to my roadmap
That's a well measured plan and I wish I had that kind of knowledge when I first got the card because I may have employed it differently from the start.
Only 2 cards I actually felt sad about cancelling... the Amex BCP and the Chase RC. I cancelled the BCP for the same reason you did - to make space. I regret it now. Why? Because that card is just plain beautiful Chad😅
Thank you for alerting me to the fee. I missed that. Guess I'll be canceling mine too. I don't pay fees for cards. There are plenty of free ones out there.
Competition for new customers has gotten pretty good lately that American Express can't just rely on the name alone. They either gotta revamp more cards to fit in or suffer more cancellations like they have recently. I'm still going to keep my gold, but thats only because I'm consistent with the credit usage. BBP is still there in the end of the day
Absolutely! At least for their business lines aimed at the common man. However if they are really going to revamp more than 40 products this year we may be pleasantly surprised by Q3....but who knows????
@@OfficialChadsMoneyMinutesWouldn't mind if they just waited another year before doing revamps, just observing the competition since so many cards are so similar. If anything else we'll probably see an increase to some of their annual fee cards lol.
The Blue Cash Preferred earns enough cash back to cover the annual fee...so I figure it's fine to keep. It doesn't get the best cash back on gas, doesn't code for grocery at some stores, and hekk...doesn't even count at gas at some places. My high-yield savings account earns almost enough interest monthly to cover the annual fee.
Dont forget the disney credit and the 6% on streaming services. The card has it's pros and I don't want anyone to think that my cancelling is an indictment on the card as a whole. It's wild to hear that some grocery and gas doesn't code properly though...
So someone help me please….I thought for years that regardless you should NOT ever cancel any card since it will affect your credit available, utilization, yrs etc. Basically a cancellation to me has always been positioned as negative. That all said….I just got back into the Amex ecosystem with two recent card approvals. I want to get rid of two bad cards I have currently. Should I cancel these two cards I have paid off but hate to use?
That’s a bit of a misnomer because it really depends on your credit history, mine is over twenty years old and I have quite a bit of available credit so cancelling doesn’t have huge effects on my profile. If I were in your situation I would cancel both cards without a second thought ESPECIALLY if you are paying annual fees on them. The need is not normally as pressing with no AF cards because you’re not putting out any money in the front end.
@@OfficialChadsMoneyMinutes I really appreciate you taking the time to answer my concern and provide your POV. You got a new sub for life! Thanks again!
Before you cancel it, try for another card first. Whats the worst that can happen hahaha. Appreciate the shoutout. I'll have to make that same decision in a few months. If I pick up the Delta Platinum, im definitely downgrading the BCP.
Yeah I dropped a data point on your Members only video that I think may be helpful. I just figured I would cut it and decrease my AF count especially since the credits weren't ones that I was readily taking advantage of.
You can always downgrade to the Amex Blue Cash Everyday card, that's what I did no AF and you can keep the account active. Unless you want to free up a Amex card slot, 3% on groceries is still solid along with 3% on gas, and 3% online purchases.
Tell me about it, while it made the most sense it was still a little hard to do since the card has been with me since the beginning of my intentional credit journey began
Agreed, the blue cash preferred is not worth occupying a card slot with Amex. I had it for exactly 1 years because there was an offer to waive the annual fee first year and $400 back in cash. Since it didn't offer MR points it was first to get chopped after year 1. Onwards to other cards
Well worth it for me. I don't care about travel. I get a lot of value out of the BCP from the 6% streaming, the $7/mo Disney bundle credit plus the 6% back on groceries. More than makes up for the AF. The Amex Blue Cash Preferred and Anex Gold are my most used cards. I have no use for a card like the Amex Platinum. Would not be worth the AF for me because I do not travel at all.
Hello Chad, young 20 year old here finally getting ready to peek his head into the actual adult world, I soon wish to move out, get my own car, etc. My score should go back up as i just finished paying off 1000 dollars before a promotion ended and had zero interest over 6 months. With that being said, before my score plummeted after acquiring said debt, it was sitting at 731. Will my score return to its previous high, and would this card be a card you would recommend for someone like me? Or what would be your card of choice, if given the circumstances?
Firstly welcome and yes your score will rebound even as you pay the debt off granted you aren't acquiring more debt in the mean time. As far as a first I don't think this is the right one for those starting out as it lacks flexibility with it's currency. I would suggest a MR point earning card instead and you could go for the Everyday preferred as it has the same AF as this card, or you cold go the no AF route with some chase cards as well, but I would save this card for a little later in your set up
I had an almost identical realization about 6 months into owning this card. Here’s what I plan to do: downgrade it to the Blue Cash Everyday, and then use that ONLY for Disney.
it was a part of the sign up when I got the card at the time, the bonus was 100k MR points for $6k spend in 3mo plus 10x on restaurants for 6mo. that's why I delayed getting the gold
@@OfficialChadsMoneyMinutes congrats🥂maybe one day JP Morgan AkA Chase will release from 5/24 jail . lol Watched your other videos keep the teaching us how to use these card .
@@OfficialChadsMoneyMinutes Chad I lol when you said your No sledge the General 🫡🫡 What the secret to 8/24 how did you pull it off . I’m on lock down jail5/24 . Need a bail bond
@@OfficialChadsMoneyMinutes soon as I’m outta of 5/24 jail I’m applying for Ink Business cash . In the United Explore card for United club Lounge Access
That's definitely an option but the no AF option has options that I already have other cards covering and they do it better so I just got rid of a needless AF
Lmfaooooooooo! Im not Sledge either! 🫡💪🏽 It was the smart and best thing to do! I don’t like the statement credit only cards either! Thank you as always Chad!!
Always update the setup! When cards dont fit anymore, time to move on. Thanks for the video sir!!
You bet I gotta keep everything moving like a well oiled machine!
@@OfficialChadsMoneyMinutes Since my last comment. I also added the Venmo Visa which does code Walmart and Costco as GROCERY as well at 3%. For Costco, I can also use the Venmo Visa and Amazon Chase Visa card. I product changed my Freedom Unlimited to a Flex to pair with the Discover It Cash Back and the 2 Custom Cashes. When I am out of 5/24 jail in 2026, I can get the Freedom Unimited again and the if I'm up to the annual fee, the Sapphire Preferred to complete the Chase Trifecta.
This video just made me have a big brain move. I applied and got the card. And i just had my wife apply and get it. 12 percent total now for my house for the year. We will switch use of each every six months, family of five 😅
Sounds like a smart move for a much smaller fee than the gold cards would get you great idea!
Out with the BCP in with the Rose Gold! 🙌🏾 🙌🏾 😃
This is the way 😊
😂😂😂😂😂😂
Absolu...........WAIT WTF!?!?!!? nah you're not bringing me over to that side lol
@@mtnbob exactly 🙌🏾
Chad which Gold card did you pick ?
Sorry brother...I can't make myself part ways with the BCP. The cashback for groceries alone absorbs the annual fee for me. Once I hit the $6k cap then I just use the Amex Gold. 😀
I feel you 100% I don't think it's a bad card at all at that 6%back is a beast it just didn't play well with my other cards.
My DIsney+ bundle credit effectively means my BCP = $11 per year lol
I like the Blue Cash Preferred Cash. With the 6% and 3% back. I combine with Uber One and Amex Platinum Uber Credits and now the Uber Delta Platinum really add up every month. I understand your point about the cash back, but I just use it to offset the following months bill. The Gas cash back credit combined with the Mobil/Exxon app which offers savings on top of the PCB card and combined with an AARP monthly credit really adds up. I more than make up my $95 annual fee and then some. I will hold on to it a bit longer.
Wow that sounds packed with value, I've done a video about AARP membership I would love to hear how you maximize it in relation to your credit card strategy.
BCP is great first year if the annual fee is waived. The second year is harder to justify because after you pay $95 you are only getting around 4.4% back on groceries.
Yes that is a commonly unstated fact!
$7 back a month on the Disney bundle plus 6% on all streaming services more than pays for the AF.
@@Mr01dschoolyou get that same credit at no cost with the blue cash everyday and the online retail category is much more flexible
I’ll never get rid of the BCP. It’s my favorite card.
Hang on to it as long as it is an asset!
Me either, I love the card. Would never get the Platinum card because I do not travel. So paying $495/yr for that card would be a waste.
Good video Chad. Before I joined Team Travel, I looked at the BCP off and on but could never pull the trigger because the cash back is only in the form of a statement credit. Don't blame you for canceling.
Absolutely and at the time I was so new to the game I didn't understand that would be the case, I think it may have affected my decision to grab it but the fact that it has a gas multiplier also helped with rental cars at work until I got the bonvoy business.
Thank you, for your detailed comments on why, you selected the American Express "Blue Cash Preferred" card and also, why it no longer meets your needs. A someone who does not track points or searches for special offers, I prefer the American Express "Plum" card. This is a "charge" only card with a 1.5 percent (unlimited) statement credit and, when needed has a 60-days (no interest) extended time period to pay-off your card balance. To date, this card has been meeting all of my needs (smile ... smile).
I think the Plum card is definitely not given it's due because it doesn't have the fancy sign up of its siblings. I'm happy to see it's working for you!
I dropped the same card sometime last year. Probably September/October. Instead of canceling, I just downgraded to BCE. Got a 17k SL on it and it boosts my total limit. The BCE is good enough for now while I'm gardening. Gives me 3% online purchases, so that covers me on Amazon right now. Once that FNC offer for the hilton cards pop back up. I'll get either Honors or surpass and, which ever offer shows. Then transfer that limit over and cancel the bce. Then plan on later this year getting the chase amazon card. Just so I can still get the 5% back on Amazon. I'll be at 2/24 end of this year, just trying to stick to my roadmap
That's a well measured plan and I wish I had that kind of knowledge when I first got the card because I may have employed it differently from the start.
Salute to the fallen soldier of the credit card legion. About to cancel mine as well 😢
Yeah man it was a good run....
Only 2 cards I actually felt sad about cancelling... the Amex BCP and the Chase RC. I cancelled the BCP for the same reason you did - to make space. I regret it now. Why? Because that card is just plain beautiful Chad😅
I hear you bro and while I did cancel the card....I didn't actually get rid of the physical card because I agree with you 10000%
@@OfficialChadsMoneyMinutes 😁
Great video. I've been looking for more honest reviews about this card
Glad it was helpful! That's what I try to do here, I think it just helps more even if it goes against the grain.
Thank you for alerting me to the fee. I missed that. Guess I'll be canceling mine too. I don't pay fees for cards. There are plenty of free ones out there.
There certainly are, as a matter of fact the Blue Cash Everyday is the no AF variant of this card and may serve your purposes as well.
Competition for new customers has gotten pretty good lately that American Express can't just rely on the name alone. They either gotta revamp more cards to fit in or suffer more cancellations like they have recently. I'm still going to keep my gold, but thats only because I'm consistent with the credit usage. BBP is still there in the end of the day
Absolutely! At least for their business lines aimed at the common man. However if they are really going to revamp more than 40 products this year we may be pleasantly surprised by Q3....but who knows????
@@OfficialChadsMoneyMinutesWouldn't mind if they just waited another year before doing revamps, just observing the competition since so many cards are so similar. If anything else we'll probably see an increase to some of their annual fee cards lol.
Makes sense the Blue Cash Preferred couldn’t make the cut for another year, I wonder what card’s next
Yeah man it fought the good fight and it did make itself useful as long as it could but too many other options just knocked out of the running.
The Blue Cash Preferred earns enough cash back to cover the annual fee...so I figure it's fine to keep. It doesn't get the best cash back on gas, doesn't code for grocery at some stores, and hekk...doesn't even count at gas at some places. My high-yield savings account earns almost enough interest monthly to cover the annual fee.
Dont forget the disney credit and the 6% on streaming services. The card has it's pros and I don't want anyone to think that my cancelling is an indictment on the card as a whole. It's wild to hear that some grocery and gas doesn't code properly though...
@OfficialChadsMoneyMinutes
Exactly why I love the card for the streaming service benefits. For me, those alone cover the AF.
So someone help me please….I thought for years that regardless you should NOT ever cancel any card since it will affect your credit available, utilization, yrs etc. Basically a cancellation to me has always been positioned as negative.
That all said….I just got back into the Amex ecosystem with two recent card approvals. I want to get rid of two bad cards I have currently. Should I cancel these two cards I have paid off but hate to use?
That’s a bit of a misnomer because it really depends on your credit history, mine is over twenty years old and I have quite a bit of available credit so cancelling doesn’t have huge effects on my profile.
If I were in your situation I would cancel both cards without a second thought ESPECIALLY if you are paying annual fees on them. The need is not normally as pressing with no AF cards because you’re not putting out any money in the front end.
@@OfficialChadsMoneyMinutes I really appreciate you taking the time to answer my concern and provide your POV. You got a new sub for life! Thanks again!
I currently have this card due to an upgrade offer, I am gonna downgrade my though rather than cancel, since it is my only Amex card
Makes perfect sense
Before you cancel it, try for another card first. Whats the worst that can happen hahaha. Appreciate the shoutout.
I'll have to make that same decision in a few months. If I pick up the Delta Platinum, im definitely downgrading the BCP.
Yeah I dropped a data point on your Members only video that I think may be helpful. I just figured I would cut it and decrease my AF count especially since the credits weren't ones that I was readily taking advantage of.
You can always downgrade to the Amex Blue Cash Everyday card, that's what I did no AF and you can keep the account active. Unless you want to free up a Amex card slot, 3% on groceries is still solid along with 3% on gas, and 3% online purchases.
@@shawn.credit that's what I'll be doing
Well done, thou good and faithful card. 😢
Tell me about it, while it made the most sense it was still a little hard to do since the card has been with me since the beginning of my intentional credit journey began
Thanks for the info + video!
No problem!
RIP, makes sense though. Looking forward to seeing the next one.
Yeah man I'm still looking through the collection to see who fits and who doesn't.
Wow Chad….you got rid of BCP?? I’ve been thinking about the same thing.
Yeah I have too much overlap and I'm not utilizing the credits that come with the card.
Agreed, the blue cash preferred is not worth occupying a card slot with Amex. I had it for exactly 1 years because there was an offer to waive the annual fee first year and $400 back in cash. Since it didn't offer MR points it was first to get chopped after year 1. Onwards to other cards
Yeah once the travel bug hit me it was just another nail in the coffin for the BCP
Well worth it for me. I don't care about travel. I get a lot of value out of the BCP from the 6% streaming, the $7/mo Disney bundle credit plus the 6% back on groceries. More than makes up for the AF. The Amex Blue Cash Preferred and Anex Gold are my most used cards. I have no use for a card like the Amex Platinum. Would not be worth the AF for me because I do not travel at all.
Hello Chad, young 20 year old here finally getting ready to peek his head into the actual adult world, I soon wish to move out, get my own car, etc. My score should go back up as i just finished paying off 1000 dollars before a promotion ended and had zero interest over 6 months. With that being said, before my score plummeted after acquiring said debt, it was sitting at 731. Will my score return to its previous high, and would this card be a card you would recommend for someone like me? Or what would be your card of choice, if given the circumstances?
Firstly welcome and yes your score will rebound even as you pay the debt off granted you aren't acquiring more debt in the mean time. As far as a first I don't think this is the right one for those starting out as it lacks flexibility with it's currency. I would suggest a MR point earning card instead and you could go for the Everyday preferred as it has the same AF as this card, or you cold go the no AF route with some chase cards as well, but I would save this card for a little later in your set up
Interesting decision on canceling. Gl man
Thanks bro!
I had an almost identical realization about 6 months into owning this card. Here’s what I plan to do: downgrade it to the Blue Cash Everyday, and then use that ONLY for Disney.
That sounds good and will keep you in good standing! You won't lose the available credit and amex will keep getting interchange dollars!
That's all i use it for 😅
How does the AMEX Platinum card give 10x on restaurants? Can you elaborate on that?
Probably from a referral bonus
@@LK_EBMYup there is no advertisement for 10x anywhere else.
it was a part of the sign up when I got the card at the time, the bonus was 100k MR points for $6k spend in 3mo plus 10x on restaurants for 6mo. that's why I delayed getting the gold
I have that in my portal, $250 SUB.....but didnt pull the trigger
I would hold out for $350 to $400
Do you have any JP Morgan Chase card
I too didn’t know about
The 5/24 Rule .
Didn’t like the prefer Blue cash cause of the fee
Yes I have 6 Chase cards and I got most of them (4 business cards) when I was 8/24
@@OfficialChadsMoneyMinutes congrats🥂maybe one day JP Morgan AkA Chase will release from 5/24 jail . lol
Watched your other videos keep the teaching us how to use these card .
@@OfficialChadsMoneyMinutes Chad I lol when you said your
No sledge the General 🫡🫡
What the secret to 8/24 how did you pull it off . I’m on lock down jail5/24 . Need a bail bond
@@OfficialChadsMoneyMinutes soon as I’m outta of 5/24 jail
I’m applying for Ink Business cash . In the United Explore card for United club Lounge Access
Shouldn't you just downgrade it to the blue cash card with no fee?
That's definitely an option but the no AF option has options that I already have other cards covering and they do it better so I just got rid of a needless AF
You’ll miss it. I promise.
I definitely miss the 6% on streaming providers......this card was my superchat go-to
Man he got a HEEEEAD 😅
ok
Lmfaooooooooo! Im not Sledge either! 🫡💪🏽 It was the smart and best thing to do! I don’t like the statement credit only cards either! Thank you as always Chad!!
My pleasure, I just couldn't keep it another year and potentially leave money on the table.