Can I Upgrade My Credit Card Without a New Application?
Update: Some offers mentioned below are no longer available. View the current offers here.
TPG reader Brock emailed me to ask about upgrading a credit card:
"I currently have an Amex EveryDay card and use it a ton on groceries and other purchases, but I'm interested in the Everyday Preferred card. Could I call American Express and convert from one to the other? If so, will they run another credit check, and will I have the same credit limit?"
American Express introduced the EveryDay cards back in 2014, and they continue to be strong options for earning Membership Rewards points with a relatively low annual fee (or none at all). Both the Amex EveryDay Credit Card and Amex EveryDay Preferred Credit Card let you transfer to airline and hotel partners, but they offer different earning rates and transaction bonuses, so you might find that one of them suits you better based on your spending patterns. Fortunately, Amex makes it easy to switch between the two.
You can request an upgrade (or downgrade) by phone or online. Either way, be sure to check if there are any bonus points available for upgrading your card — these are separate from the sign-up bonuses offered to new card applicants. Amex phone reps should be able to see those offers in your account, but sometimes there are offers online that don't show up on their screens.
To check for online offers, log in to your American Express account, click the Menu button and select Cards > Personal Credit Cards > View All Personal Charge & Credit Cards. Find the card you want (not the one you already have) and click Apply for an Upgrade. Upgrade bonuses come and go, and vary from person to person. You'll probably be offered less than what you would get from a new sign-up bonus, but getting upgraded may not restrict you from earning a sign-up bonus down the road (despite Amex's tight application restrictions).
Note that you won't be eligible to upgrade if your account is less than 13 months old, since the CARD Act prevents issuers from raising your annual fee in the first year (even if you want them to). If you're still in your first year as a cardholder, you'll have to either wait to upgrade or put in a new application.
The good news is that upgrading an Amex card won't result in a hard credit pull, since you're just changing products and not opening a new account. That means you don't have to worry about your FICO score being impacted by new credit inquiries or account closures.
When you upgrade (or downgrade) an Amex card, your account number and credit limit will remain the same. However, your card expiration date and security code will change when you activate the new card. Charges made using the old information will continue to go through for 45 days, but beyond that you'll need to update any automatic payments you've scheduled. You can use the old card until the new one arrives, but you'll get the benefits of your new card starting the day after you upgrade.
As for whether you should upgrade, these posts can help you decide:
- Amex Everyday vs. Everyday Preferred: Which Should Be in Your Wallet?
- One Year of Earning and Burning with the Amex Everyday Preferred Card
- Chase Freedom Unlimited vs. the Amex Everyday Preferred Card
If you have any other questions, please tweet me @thepointsguy, message me on Facebook or send me an email at info@thepointsguy.com.
[card card-name='The Amex EveryDay® Preferred Credit Card from American Express' card-id='220310489' type='javascript' bullet-id='1']
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.