If you upgrade the preferred to the reserve, you can “double dip”the $300 travel credit by using it in year 1 + the very beginning of year 2. Then downgrade it back to the Preferred (or another card) and your effective annual fee for a year (and change) is about zero.
Interesting! That’s a good data point, might be worth it for someone who’s on the fence about upgrading as they can test out the card with basically no annual fee
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If you upgrade the preferred to the reserve, you can “double dip”the $300 travel credit by using it in year 1 + the very beginning of year 2. Then downgrade it back to the Preferred (or another card) and your effective annual fee for a year (and change) is about zero.
Interesting! That’s a good data point, might be worth it for someone who’s on the fence about upgrading as they can test out the card with basically no annual fee