AMEX BCP vs Barclay Sallie Mae

[mongstradamus]

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@VirtualCuriosity wrote:

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@mongstradamus wrote:

I may be in the minority here i plan on getting both. I already have the BCP since last september, and going to apply sometime during the summer for sallie mae. the 5 % from gas and amazon from sallie mae sounds pretty darn appealing to me. 

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I am in that group with you.  I originally had the specific goal of getting the AMEX only, but since I read a little more here regarding the Sallie Mae, I believe I will be getting both as well.  Hopefully in the next few months after a refinance.

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just waiting for some hp last year to reach one year anniversaries. I think my scores are ok for approval, but i am an bit wary about recently opening 3 new accounts last sept, and the fact I have an fair amount of HP like 6 with TU and 8 with EX. 

I think would stil use BCP an lot for groceries, and sallie mae will get some amazon love and gas, when IT and freedom don't have it on their 5% categories.

[milkshakes]

EDIT: had thread opened for a couple hours so i didn't see the other replies. none of the info below is new anymore :]

perhaps you might find this thread helpful:

http://ficoforums.myfico.com/t5/Credit-Cards/Prequalified-for-Blue-Sky-but-want-BCE/td-p/2998146/pag...

but i agree. as much as i wanted to start a relationship with amex, the sallie mae card was just a much better option. it's also good to know that Mastercard merchants Amazon as a bookstore.

my only caveat with sallie mae is that i can't deposit the points into cash in my checking (though this isn't terribly different than many banks). only redemption options are: 1) deposit into upromise account, 2) pay off sallie mae loan, 3) pay off credit limit on card. i do #3 every time.

[navistar]

I have 50k in student loans so I can use all the help I can get

[longtimelurker]

SM is a great card (and if the limits were doubled it would be a total no-brainer).   But instead of band-waggon hopping from BCE to SM, always consider some alternatives (which may be harder or easier to obtain)

If your gas use is very heavy, try for Penfed or Fort Knox

If grocery use is very high, Amex BC (also covers gas and drug stores)

If travel rewards are important, and MR fit your needs, consider Everyday or Everyday Preferred.

Much as I love SM (I have one and am AU on another) I hardly ever use it, because the categories are covered elsewhere, so do that check as well!

[celluloid17]

It would seem to me that both of these cards would be good to have in your arsenal depending on your personal needs and life circumstances.  For groceries, the BCP would for sure come out ahead if you're buying food for more than one person, therefore the BCP should be your go to card for groceries up to $6000 and then use the Sallie Mae for anything over that.  On the other hand, the Sallie Mae card should be your default gas card until you hit the monthly cap and then the BCP can pick up the slack.  

If you're single, I would think the Sallie Mae would be perfectly sufficient and there would be no need for the BCP or BCE.  

[Involver]

I'm right around $250 a month in spend for grocery (hardly any spend on gas) so I use the SM up to $250 and the BCE for anything beyond.  Good $0 AF combo for my purposes.

[BigBS]

The BCP works well for me since I pay no annual fee and spend about $700 (or more) on groceries each month.

[longtimelurker]

How do you get no AF!

[BigBS]

Military member.

[longtimelurker]

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@BigBS wrote:

Military member.

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Oh right.  So that makes the decision between BCE and BCP pretty easy!