Doctor of Credit (H/T) has reported today that changes might be coming to two American Express credit cards. In fact, Amex recently sent out surveys to Blue Business Plus and Everyday Preferred cardholders. Surveys like this from Amex are intended to gauge current cardholders’ interest in various benefits. The surveys for these two credit cards are no exception.
What’s Going On?
American Express’ surveys asked cardholders to rank benefits from the following companies:
- Home Depot
- Nike
- Pay Pal
- Select Streaming Companies
- Target
- Walmart
These benefits are likely going to be annual credits similar to those offered on the three Amex charge cards. The credits are reported to be worth $10 for the Blue Business Plus and $25 for the Everyday Preferred.
Moreover, adding credits and leveraging partnerships is not surprising for American Express. They do this especially often with their flagship Platinum Card. Recent changes to American Express credit cards include the addition of credits and changes to earning structures. The latter situation applied to the Green Card and Gold Card in the late 2010s.
Credit Card Context
Everyday Preferred Card
Furthermore, the Everyday Preferred Card has had the same earning structure and perks since its inception. The Everyday Preferred Card was released in 2014 as an alternative to the traditional charge cards. Both Amex Everyday Cards were originally targeted towards “busy moms”, according to The New York Times (H/T). But the Everyday Preferred Card’s enigmatic earning structure and lack of perks are not as enticing as they used to be, especially with the plethora of credit cards offering grocery store perks (including Amex themselves).
However, the Everyday Preferred Card has a $95 annual fee (NOT waived the first year). And it does not have the perks that its charge card brethren have. American Express can make this credit card into something truly excellent in the wake of the COVID-19 pandemic. But will they?
Blue Business Plus
Similarly, the Blue Business Plus is incredibly valuable for entrepreneurs, those with side gigs, and small business owners. This card has no annual fee, but Amex does not offer any perks or a sign-up bonus either. Such simplicity might be a turn-off for some prospective cardholders and American Express’ executives might be noticing.
Plus, a plethora of cardholders commented on Doctor of Credit that they do not want the Blue Business Plus to change. But offering a sign-up bonus and some perks in addition to keeping its earning structure will make this amazing business credit card even better.
Final Draw
Changes to American Express credit cards are a big deal. Fortunately, Amex has sent surveys out about two cards that can use a revamp. The Blue Business Plus and Everyday Preferred Cards are great options for very different consumers. But it is nice to see American Express make them even more competitive in the wake of the COVID-19 pandemic.
“But it is nice to see American Express make them even more competitive in the wake of the COVID-19 pandemic.”
Why are you assuming that Amex won’t add an annual fee to the BBP or increase the fee of the EDP?
Hi Brutus,
Thanks for reading! The short answer to your question (and my assumption) is not to cannibalize their other cards.
Consider what other credit cards Amex currently has. They already have the Green Card, which has a $150 AF; and the Gold Card, which has a $250 AF. Besides the EDP, Amex does not have another card at the $95 price point. On the business side, the BBP is the equivalent of the Everyday Card. Both have no annual fee and have the ability to transfer points to partners. Plus, Amex has the seldom-mentioned Business Green Card at the $95 price point. Adding an annual fee to the BBP would cannibalize their own products.
Best Regards,
Anthony