topic Re: Change coming in BCP rewards structure in Credit Cards

Change coming in BCP rewards structure

jason86423 — Fri, 05 Oct 2012 00:27:09 GMT

Just got notified in my October statement that Amex is changing the rewards structure on grocery store purchases for the Blue Cash Preferred. Will continue to accrue 6% through the first $6000 of yearly grocery store purchases and after that it will be 1%. Change is effective January 15, 2013

Re: Change coming in BCP rewards structure

L-TWT — Fri, 05 Oct 2012 01:43:29 GMT

jason86423 wrote:
Just got notified in my October statement that Amex is changing the rewards structure on grocery store purchases for the Blue Cash Preferred. Will continue to accrue 6% through the first $6000 of yearly grocery store purchases and after that it will be 1%. Change is effective January 15, 2013

Thx 4 the heads up, i guess after that date I shall be Canceling my card!:smileymad:

Re: Change coming in BCP rewards structure

tray — Fri, 05 Oct 2012 02:30:32 GMT

Seems funny how Amex now is making sudden changes cutting back on this card rewards structure, I wonder if behind the curtains it has anything to due with this company being SUED for millions of dollars well we wil see if any other changes occurs on other cards...

Re: Change coming in BCP rewards structure

afjock21 — Fri, 05 Oct 2012 05:43:38 GMT

6,000? I got no problem with that.. we're talking 500/month grocery bill for one dude, just me? Definitely not... However, This is definitely not something I will ignore as even though for me it's not a big deal for the family it sure as hell is... Something to watch!!!

Re: Change coming in BCP rewards structure

DeadSpider — Fri, 05 Oct 2012 06:34:50 GMT

Well this just sux @$$ as I spend about $1000 on food a month grrrrr.

I havn't gotten my Oct statement yet so i can see the print myself.

I guess I'll be using my Discover and freedom on grocery months...

Re: Change coming in BCP rewards structure

scientifics — Fri, 05 Oct 2012 11:14:00 GMT

I agree this is unfortunate, but it's probably because too many people were taking advantage of the 6% and buying excessive amounts of gift cards at 6% off!

Re: Change coming in BCP rewards structure

FrugalRican — Fri, 05 Oct 2012 11:37:14 GMT

Ouch, that's a hard one to bite for families.

My advice... hopefully BCP card users have either a Freedom or a Discover card.

Use your BCP in non-grocery 5% months. Use Freedom/Discover/Other in months that they have 5%.

It's not 6% all year, but definitely helps soften the blow.

Re: Change coming in BCP rewards structure

flowfaster — Fri, 05 Oct 2012 11:47:07 GMT

This is not what I wanted to wake up to! I have a family of 4 so I definitely go over 6000 a year.

That is a great idea about using freedom for that quarter. That's if Chase keeps the same categories.

Re: Change coming in BCP rewards structure

CreviceTool — Fri, 05 Oct 2012 12:41:03 GMT

Wow, I had no idea families ate so much. I only buy groceries for myself, and I probably spend $100/month. But I do tend to eat like an 8yo.

For those of you who find this a limiting factor, look at the US Bank Cash+ card. You can choose groceries as one of your 5% CB categories every quarter, and if you redeem your CB in chunks of $100, you get $25 back, making it effectively 6.25%.

Re: Change coming in BCP rewards structure

shakalaka — Fri, 05 Oct 2012 13:22:53 GMT

I guess it depends on yourself. I ate like two 20 year olds. Which fits, for I am a little over 40. :smileyvery-happy:

And I have around 250/months. So you do the maths.

But, I love good food and I am willing to pay for it.

Re: Change coming in BCP rewards structure

flowfaster — Fri, 05 Oct 2012 13:23:40 GMT

I have the cash+ and grocery is not a 5% category. Best bet is like someone else said use the freedom card when grocery is a category.

Re: Change coming in BCP rewards structure

DeadSpider — Fri, 05 Oct 2012 13:45:45 GMT

If Discover and Freedom have same month grocery I'm just going to buy max amount off giftcards.

Somebody need to redo the math on if it's worth to have TWO BCP per household ???

I wonder if everybody called Amex and B!tched they might change to old policy.

Re: Change coming in BCP rewards structure

CreviceTool — Fri, 05 Oct 2012 14:03:34 GMT

flowfaster wrote:
I have the cash+ and grocery is not a 5% category.

Hmmm, ok, I must be mistaken. I've not chosen it as a category since I also have BCP, but I thought I remember it being a choice. I guess it was one of the 2% category choices then?

Re: Change coming in BCP rewards structure

FrugalRican — Fri, 05 Oct 2012 14:31:51 GMT

DeadSpider wrote:
I wonder if everybody called Amex and B!tched they might change to old policy.

It's AMEX.

I doubt they'd care.

Re: Change coming in BCP rewards structure

flowfaster — Fri, 05 Oct 2012 14:49:00 GMT

CreviceTool wrote:
flowfaster wrote:
I have the cash+ and grocery is not a 5% category.
Hmmm, ok, I must be mistaken. I've not chosen it as a category since I also have BCP, but I thought I remember it being a choice. I guess it was one of the 2% category choices then?

Correct, It is a 2% category. Gas, grocery and drug are the 2% picks.

Re: Change coming in BCP rewards structure

crunching_numbers — Fri, 05 Oct 2012 14:57:16 GMT

I am currently doing a refi on the house, so no new apps for anyone, but if they do this I guess DH will be apping for his own BCP, and we will double the amount for groceries. I think this is crazy, because I will stop running groceries through the card as soon as I hit the cap, and use a card that gives me more back. The do realize that going to 1% will cause a big group of us to use other cards entirely, don't they?

I have a family of 5, plus additional teenagers eating over frequently. My bill is WAY over $500 a month on groceries.

Re: Change coming in BCP rewards structure

FrugalRican — Fri, 05 Oct 2012 15:00:12 GMT

They probably do realize that, but probably also realize that it's worth doing that and they'd lose far less in cashback than they are making in retail fees because of it.

Re: Change coming in BCP rewards structure

crunching_numbers — Fri, 05 Oct 2012 15:11:23 GMT

Dropping to 1% is severe. They should at least only drop to 3% like the BCE. Seems more fair. Are they also capping the BCE?

Re: Change coming in BCP rewards structure

FrugalRican — Fri, 05 Oct 2012 15:16:51 GMT

If they are, I haven't gotten a notice yet.

I'm surprised they'd cap the one with the annual fee, though and not the free one.

Maybe more changes are a-comin'.

Re: Change coming in BCP rewards structure

DeadSpider — Fri, 05 Oct 2012 16:44:58 GMT

If BCE has not cap than I'll app for BCE and use that after hitting my CAP on BCPAU.

At 1% my Cap1 gives better rewards or just about any card.

Anybody has a link or letter of OFFICIAL terms we can read from Amex ?