I know I will most likely get flak for posting this from the churning snobs, but oh well LOL!
I had upgraded my Blue Cash Everyday (BCE) card last year to the Blue Cash Preferred (BCP) with a special offer that waived the annual fee for a year, and it came with a $150 bonus after spending $2000 in three months.
The card has been great especially using it at Meijer to purchase MC and Visa gift cards when they are running the $10 off specials (buy a $100 the card for $95~ after fees and get 6% back).
However, my fee renewal was coming up in august, and I decided not to pay the annual fee just to get the 6% tier. So I canceled it a few weeks ago and downgraded back to the BCE.
Today, I just received ANOTHER email from Amex saying that if i upgraded to the BCP again , they would give me $150 after spending $1000. I called up, and the rep confirmed I was eligible since I had received the email. So I upgraded the card again. Even with the $95 fee, I am still coming out ahead ~ $50 plus 6% for the next year.
The nice thing about this is that (as far as i can tell) they do not need to do another credit pull to re-upgrade your card.
Here is my timeline
Sept 2018 - upgraded from BCE to BCP (no fee and $150 bonus after 2k spend)
Aug 2019 - Downgraded from BCP to BCE to avoid $95 fee
Aug 2019 - recieved upgrade email from AMEX for $150 back after 1k spend , $95 annual fee)
TLDR; If you have the BCP and were on the fence about canceling, you may get an offer to re-upgrade back to the BCP if you downgrade to the BCE.
Anyways, hope this helps someone, and enjoy!