Cash back Card what are your thoughts.

[Anonymous]

Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

[sparklerd34]

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@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

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i thought when i read you can only spend 250 a month on groceries

[kdm31091]

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@sparklerd34 wrote:

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@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

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i thought when i read you can only spend 250 a month on groceries

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Sallie Mae gets a ton of love on here. Some of it is deserved, some of it is a bit overboard. If you spend enough to justify a BCP, there's no real reason to have a Sallie Mae unless your gas spend is also high enough that 5% is significantly more than 3% (BCP's gas return). Your max return on Sallie Mae is $12.50 a month on either gas/grocery category if maxed out. At 3% on gas with BCP for $250 spend you'd get $7.50. You decide if 5 bucks a month is worth it.

People have Sallie + BCE so they can fall back onto the BCE when they hit the cap on Sallie. But if you are spending more than $250 a month on groceries regularly, you may be able to justify the BCP anyway.

[sparklerd34]

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@kdm31091 wrote:

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@sparklerd34 wrote:

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@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

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i thought when i read you can only spend 250 a month on groceries

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Sallie Mae gets a ton of love on here. Some of it is deserved, some of it is a bit overboard. If you spend enough to justify a BCP, there's no real reason to have a Sallie Mae unless your gas spend is also high enough that 5% is significantly more than 3% (BCP's gas return). Your max return on Sallie Mae is $12.50 a month on either gas/grocery category if maxed out. At 3% on gas with BCP for $250 spend you'd get $7.50. You decide if 5 bucks a month is worth it.

People have Sallie + BCE so they can fall back onto the BCE when they hit the cap on Sallie. But if you are spending more than $250 a month on groceries regularly, you may be able to justify the BCP anyway.

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ok one more question do i have to spend a certain amount to get the 6% on the BCP?  so say for instance i spending 350.00-400 a month on groceries and 200.00 a month  or is it a tier program?

[kdm31091]

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

[Anonymous]

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@kdm31091 wrote:

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

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Great if you're willing to wait two months for your cash, Lol.

[sparklerd34]

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@Anonymous wrote:

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@kdm31091 wrote:

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

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Great if you're willing to wait two months for your cash, Lol.

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If i can wait this long to get my credit in order, as long as i can benefit on what im already spending.   2 months wont kill me LOL. sounds like the BCP is for me

[kdm31091]

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@Anonymous wrote:

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@kdm31091 wrote:

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

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Great if you're willing to wait two months for your cash, Lol.

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That is a downside and I hate that with my BCE. But really, even though yes Sallie does award the cash instantly, I believe you still have to wait to hit $25 to redeem, which is the same as BCE/BCP.

[sparklerd34]

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@sparklerd34 wrote:

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@Anonymous wrote:

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@kdm31091 wrote:

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

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Great if you're willing to wait two months for your cash, Lol.

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If i can wait this long to get my credit in order, as long as i can benefit on what im already spending.   2 months wont kill me LOL. sounds like the BCP is for me

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thank you for some clarificaton that helps. i really dont need any more cards. just one last card and that will be good for me.

[steel_string]

For comparisons like this, you really need to look at how much you spend and where and calculate how much you'd net after AF. Where do you buy those groceries? Will you be using the card for gas? Do you shop at Wal-Mart? Target? Amazon? bookstores?