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@longtimelurker wrote:
@w003ptr wrote:Thanks for the info. I actually planned to do most of the $6k in Visa gift debit cards to buy money orders and pay rent with. My concern is that Amex will question the spending because $500/mo is much higher than I spend now.
Hard to be definite, but in my view, at low levels like that, the risk is possibly greater than the gain. On the plus side, it's unlikely to attract attention, but if it does....
So for each $1000 you get $60, probably paying ~ $12 for the gift card, and ~0.50 for the MO, so ~ $285 per year, with a $75 AF. So, certainly not nothing, but weigh the risk!
Yeah that's exactly what I was thinking. Maybe I should stick with BCE and test the waters for a few months? I did a small purchase ($125) to make sure I could do cashback or MO and even with that the cashier said she needed to see my credit card and ID.. I'm guessing something triggered Amex?
@w003ptr wrote:
@longtimelurker wrote:
@w003ptr wrote:Thanks for the info. I actually planned to do most of the $6k in Visa gift debit cards to buy money orders and pay rent with. My concern is that Amex will question the spending because $500/mo is much higher than I spend now.
Hard to be definite, but in my view, at low levels like that, the risk is possibly greater than the gain. On the plus side, it's unlikely to attract attention, but if it does....
So for each $1000 you get $60, probably paying ~ $12 for the gift card, and ~0.50 for the MO, so ~ $285 per year, with a $75 AF. So, certainly not nothing, but weigh the risk!
Yeah that's exactly what I was thinking. Maybe I should stick with BCE and test the waters for a few months? I did a small purchase ($125) to make sure I could do cashback or MO and even with that the cashier said she needed to see my credit card and ID.. I'm guessing something triggered Amex?
Don't think that was Amex. Which store is that? If Amex had questions that would generally decline the transaction and ask you to verify that you attempted it. Looking at ID and credit card is standard for stores like CVS. (And for purchases of $1000 or more, CVS scans your license.)
@longtimelurker wrote:
@w003ptr wrote:
@longtimelurker wrote:
@w003ptr wrote:Thanks for the info. I actually planned to do most of the $6k in Visa gift debit cards to buy money orders and pay rent with. My concern is that Amex will question the spending because $500/mo is much higher than I spend now.
Hard to be definite, but in my view, at low levels like that, the risk is possibly greater than the gain. On the plus side, it's unlikely to attract attention, but if it does....
So for each $1000 you get $60, probably paying ~ $12 for the gift card, and ~0.50 for the MO, so ~ $285 per year, with a $75 AF. So, certainly not nothing, but weigh the risk!
Yeah that's exactly what I was thinking. Maybe I should stick with BCE and test the waters for a few months? I did a small purchase ($125) to make sure I could do cashback or MO and even with that the cashier said she needed to see my credit card and ID.. I'm guessing something triggered Amex?
Don't think that was Amex. Which store is that? If Amex had questions that would generally decline the transaction and ask you to verify that you attempted it. Looking at ID and credit card is standard for stores like CVS. (And for purchases of $1000 or more, CVS scans your license.)
It was a Kroger that I shop at regularly and have spent >$100 in a single transaction on mutiple occasions. The transaction didn't go through immediately like it usually does and this was the first time they've IDed me. Coincidence?
@w003ptr wrote:
@VinnyofLegend wrote:The $6000/yr grocery limit came into effect sometime last year. It applies to the BCE as well.
How much less do you think you'll spend?
As long as you spend at least $208/month at supermarkets the BCP won't ever be worse than the BCE. You also get an extra 1% on gas/department stores.
There's a nice chart here giving a close comparison.
http://www.plasticiq.com/blog/blue-cash-everyday-blue-cash-preferred/
Thanks for the info. I actually planned to do most of the $6k in Visa gift debit cards to buy money orders and pay rent with. My concern is that Amex will question the spending because $500/mo is much higher than I spend now.
I have the "old" Blue Cash that only offers the 1% until I hit $6.5k. I was stocking up on vanilla, using AmEx, until I realized that Citi Dividend is offering 5% at drugstores until March 31st. I'm liking that I can earn rewards for paying things like my electric bill, mortgage by offering Vanilla to BlueBird.
@longtimelurker wrote:Not to start a holy war against BCE, but for almost everyone, unless you need your first Amex (if you really do!), the Sallie Mae is going to be a better card.
Just focusing on groceries, for spending up to $3K a year, SM wins, because it pays 5% vs 3%. So at $3K, SM gives $150, BCE $90.
BCE continues its rate up to $6K, but that doesn't make much of a difference because of SM's lead. So at $6K, SM gives $150 + $30 = $180, exactly the same as BCE. SM is always ahead until this point, and afterwards, they each earn the same: 0.01(x-$6000) + $180.
And SM pays 3% more on gas up to $250 per month, and more importantly, gives 5% on bookstores including Amazon up to $750 a month. The advantage of BCE is only if you use the 2% on department stores, or buy more than $6K of gas per year.
BCE vs BCP is a false choice IMO, better is SM vs BCP vs BC. Between them, those cards cover all levels of spending.
ETA: You may notice I have a BCE in my sig! But this was just a PC to avoid the AF once I got the BC. The card is sock-drawered.
Interesting... I may have to track down the Sallie Mae card versus the UPromise MC I acquired earlier this year...
I would like to point out that the "Department Stores" rebate may not be worth it in many cases, when Sears, Macys, Kohls, and others incent customers to use their card with special sale prices in the neighborhoods of 15-30% off when their private-label store credit cards are used.
@w003ptr wrote:
@longtimelurker wrote:Don't think that was Amex. Which store is that? If Amex had questions that would generally decline the transaction and ask you to verify that you attempted it. Looking at ID and credit card is standard for stores like CVS. (And for purchases of $1000 or more, CVS scans your license.)
It was a Kroger that I shop at regularly and have spent >$100 in a single transaction on mutiple occasions. The transaction didn't go through immediately like it usually does and this was the first time they've IDed me. Coincidence?
Amex will outright decline if they suspect fraudulent use, but once you indicate that the charges are legitimate, future charges seem to go through. Note to self - "TAPPING" the card will almost always result in a decline, whereas a SWIPE works.
Some stores have unique policies about checking identification that change based on the clerk and day. I've had some clerks ask for ID for a single card, others never, and once used my wife's card and they checked the ID and let the transaction through. A purchase at CVS greater than $1,000 will result in your license being scanned, and I found this out on February 1st with a license that had "expired" the day before while I was waiting for the replacement to arrive in the mail.
Just to note: As far as we know, the CVS license scanning is used only to "enforce" their policy of no more than $5K per person per day. It doesn't quite work because you can buy single $500 cards without getting scanned, but you would have to be pretty dedicated to use that loophole. Now suspicious minds suspect that since the data is stored it could be used by LEAs/IRS etc, but no reports of that yet.