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Credit card companies have done a good job of marketing their cards to existing users. After all, who is a more likely candidate for a new American Express card than someone who is already an American Express cardmember? Plus, you're likely already interacting with American Express through its website or mobile app, so it's a perfect marketing channel to try and lure you in with sweet, sweet upgrade offers.
Upgrading an Amex card can make sense, but it's worth weighing the pros and cons before making the switch.
Why You Should Think Twice Before Upgrading an Amex Card
Credit card issuers have application rules that determine your eligibility for new
Once you upgrade to a new credit card, you've now held that product. This can affect your ability to earn a welcome offer on the same card later down the road — and not just on the card you're converting to.
Beware of Amex family restrictions
American Express also has family restrictions that can affect your eligibility for other cards within the same family. For example, here's how the rules apply to the Delta American Express cards:
- Delta SkyMiles® Blue American Express Card: You may not be eligible for a welcome offer if you have or have had this card, the Delta SkyMiles® Gold American Express Card, Delta SkyMiles® Platinum American Express Card, the Delta SkyMiles® Reserve American Express Card, or previous versions of these Cards.
- Delta Gold Card: You may not be eligible to receive a welcome offer if you have or have had this card, the Delta Platinum Amex, the Delta Reserve, or previous versions of these Cards.
- Delta Platinum Amex: You may not be eligible to receive a welcome offer if you have or have had this card, the Delta Reserve, or previous versions of these Cards.
- Delta Reserve: You may not be eligible to receive a welcome offer if you have or have had this Card or previous versions of this Card.
So, if you upgrade to a Delta Reserve, you're locking yourself out of getting any other Delta card welcome offers for a “lifetime” — although recent reports suggest Amex may be loosening its once-per-lifetime rules.
Applying for a New Amex Card Is Usually Better
When you apply for a new American Express card, you'll get the full welcome offer (as long as you're eligible). In most cases, the welcome offer on a new card will be higher than any upgrade offer.
Make sure to compare the current new-card offer vs. any upgrade offer before doing anything. That way, you can choose the better offer (usually the higher one). Applying for a new card also lets you keep the existing card if holding both makes sense.
No annual feeRates & Fees
(Terms Apply)
- Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. Terms and limitations apply.
$150
(Terms Apply)
- 12X bonus points for each dollar of eligible purchases charged on your card directly with a hotel or resort within the Hilton portfolio
- 6X bonus points for each dollar of eligible purchases on your card at U.S. restaurants, U.S. supermarkets, and U.S. gas stations
- 4X bonus points on U.S online retail purchases
- 3X bonus points for all other eligible purchases on your card
$325
- 4X Membership Rewards® points at restaurants worldwide, plus takeout and delivery in the U.S. (on up to $50,000 per year in purchases, then 1X)
- 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X)
- 5X Membership Rewards® points on prepaid hotels booked on amextravel.com
- 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com
- 2X Membership Rewards® points on prepaid car rentals booked through amextravel.com
- 2X Membership Rewards® points on cruises booked and paid through amextravel.com
- 1X on other eligible purchases
When You Should Upgrade an Amex Card
Here are a few reasons you should consider upgrading your American Express card:
- You've already held the new card and aren't eligible for its welcome offer.
- You're otherwise ineligible for the welcome offer.
- You receive an exceptional targeted upgrade offer.
While most upgrade offers are lower than the welcome offers on new cards, it's not unheard of for people to get amazing upgrade offers, especially ones that are targeted and not publicly available. If you get an outstanding upgrade offer, it can make a lot of sense to take it rather than applying for a new card.
What To Check Before Upgrading
Before accepting an upgrade offer, check a few things. First, have you held the card before, and are you eligible for a welcome offer if you apply directly? If you've had the new card before or aren't eligible for any new welcome bonus, an upgrade offer may be the only way to get a bonus on the new card. You'll also want to check if upgrading to a new card could affect your eligibility for other Amex cards.
Next, review the spending requirement to make sure you can comfortably meet it. Finally, check the new card's annual fee and whether you'll pay the full amount upfront or a prorated fee based on your cardmember anniversary.
The Bottom Line
While Amex upgrade offers come in many forms (on the website, through the mobile app, or in the mail), you'll want to think twice before taking advantage of one. In most cases, it will be more lucrative to apply for the new card rather than upgrading.
Usually (though not always), the welcome offer for applying for the card directly will be higher than an upgrade offer. Make sure you compare the welcome offers, annual fee, benefits, and how upgrading to a new card might affect your eligibility for other American Express cards before you take that Amex upgrade offer.
For rates and fees of the cards mentioned in this post, please visit the following links: The Blue Business® Plus Credit Card from American Express (Rates & Fees)
