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Valued Contributor
Posts: 1,572
Registered: ‎09-15-2012
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Re: Discover IT vs. Amex BCE

Do you have any student loans?

 

If you do, another card to consider is the Citi Forward. It gets 5x ThankYou points on restaurants and Amazon (or so it is rumored, I haven't yet tried this personally). Then you get a 1:1 redemption ratio on student loan payments, which I will use to supplement my monthly payments and reduce interest. There are other redemption options if you don't have any student loans that will help you maximize rewards for your restaurant spending. 

 

Otherwise, it definitely looks like BCE or BCP will add to your rewards earnings more than Discover since it will give you an elevated level of cash back on two of your biggest categories (gas and groceries) year round. 

 

By the way, the break even analysis for BCP over BCE is approximately $210 in grocery spending a month ($50 per week). With any gas spending put on that card (when Freedom doesn't have gas as a revolving 5% category) reducing that grocery break even point. For me, since I spend over $300 per month on groceries, and nearly $200 a month on gas, the BCP clearly makes more sense than BCE. 

 

In terms of approval, that's a completely different animal. You have no baddies, which is excellent, and a long revolving credit history. My revolving history was only 6 months when I was approved for BcP, but I had 6 years of positive student loan history and 2 years on a car loan.   Something I did before going on my latest app spree, which you don't have to do, but may add to your confidence, is I signed up for the free version of ScoreWatch and received my free EQ FICO score. I saw that it was over 750, which gave me a lot of confidence and convinced me to apply for the difficult-to-achieve BCP. I cancelled my subscription 5 days later and no charges were made to my credit card. It turned out my EX FICO that AMEX used for approval was even higher than EQ, so I was instantly approved. 

 

The other thing here is that if you aren't afraid of inquiries or managing a lot of cards, you can try for multiple cards now so that they will all age together. It will drop your AAoA, but that can recover over time. Just another possibility If you want to try for both Discover and BCE/P.  It doesn't have to be a one or the other decision. 

 

I wish you the best of luck, and let me know if you have other questions. 


In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Senior Contributor
Posts: 4,303
Registered: ‎02-23-2011
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Re: Discover IT vs. Amex BCE

Really very different cards.

 

I think it's more of complimentary cards than an either/or.  Any reason why you can't have both?

Established Member
Posts: 53
Registered: ‎01-06-2013
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Re: Discover IT vs. Amex BCE


SnackTrader wrote:

KS13 wrote:

I would get the American Express BCE.

 

 

But chances are you probably won't be approved for it since it is harder to get, but you never know. What is your total income ?

 

 


To KS13: How can you say that if you know nothing about the OP's credit profile?

 

To OP:

 

I chose the BCP because my grocery spending easily covers the annual fee, and because the rewards categories are used ALL the time, as opposed to the rotating categories of Discover/Chase Freedom. Although I did get the Freedom due to the two quarters of 5% on gas this year. 

 

Anyway, if you tell us more about your spending habits and you credit profile we can help recommend a card that fits your spending and that is within reach for approval. 


I was basing on the info and score the OP gave original first post.

Regular Contributor
Posts: 159
Registered: ‎08-28-2007
0

Re: Discover IT vs. Amex BCE

I love Discover's friendly n casual CS. I'm not in the Amex family yet. :smileyhappy:

Last App Oct 2013...applied and received Amex PRG and Blue Sky!
FICO -Walmart = 779
Credit Karma = 781
EX-766, EQ 772, TU-759
Goal: 800
Established Contributor
Posts: 772
Registered: ‎08-02-2008
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Re: Discover IT vs. Amex BCE


chnceit wrote:
IMO AMEX BCE is still harder to get, Discover IT is new so they are targeting and campaigning everyone signs up. But IT has awesome features and rewards

Completely agree. I'd go for the IT card.

FICO: EX: 743 (10/14); TU: 758 (9/14); EQ 721 (9/14)

In My Wallet: Amex X 5 | Barclays X 3 | BOA X 1 | CapOne X 3 | Chase X 3 | Citi X 7 | DCU X 1 | Discover X 1 | Fidelity X 1 | Fifth Third X 1 | Macys X 1 | PenFed X 1 | PSECU X 1 | Sams Club MC X 1 | Target RedCard X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1 = 36 Cards

Holding off apps until the end of the year! Wish me luck!
Frequent Contributor
Posts: 361
Registered: ‎07-31-2007
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Re: Discover IT vs. Amex BCE

I was just about to post regarding this card. What's the difference between this and say, the More card. I love my Discover More card. I don't see much difference between this and the other card products that Discover offers.

6/9/2008-TransUnion-703
6/9/2008-Equifax-712
6/9/2008 Experian-635

2/16/2011 Transunion - 675
3/11/2011 Equifax - 688
5/13/2011 Equifax - 704
5/28/2011 Equifax - 704
5/28/2011 Transunion - 724
Established Contributor
Posts: 772
Registered: ‎08-02-2008
0

Re: Discover IT vs. Amex BCE


kc12286 wrote:

I was just about to post regarding this card. What's the difference between this and say, the More card. I love my Discover More card. I don't see much difference between this and the other card products that Discover offers.


IT provides 1% cash back on all purchases whereas the more only provides .25% cash back up to 3k in spend. Both cards provide rotating 5% categories. 

FICO: EX: 743 (10/14); TU: 758 (9/14); EQ 721 (9/14)

In My Wallet: Amex X 5 | Barclays X 3 | BOA X 1 | CapOne X 3 | Chase X 3 | Citi X 7 | DCU X 1 | Discover X 1 | Fidelity X 1 | Fifth Third X 1 | Macys X 1 | PenFed X 1 | PSECU X 1 | Sams Club MC X 1 | Target RedCard X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1 = 36 Cards

Holding off apps until the end of the year! Wish me luck!
Frequent Contributor
Posts: 361
Registered: ‎07-31-2007
0

Re: Discover IT vs. Amex BCE

Out of curiosity I went to the Discover webpage and looked at the cash back terms.  So it seems like until you hit 3k, you're only getting .25% which explains why some months, even when I was purchasing in the cash back category, I was not getting a lot of bang for my buck,

All Other Purchases

You will earn up to 1% Cashback Bonus on all purchases other than Program Purchases. You will earn up to 1% Cashback Bonus on ShopDiscover purchases, unless otherwise specified on ShopDiscover. At the end of each billing period, we calculate your Cashback Bonus by multiplying the total amount you spent on all other purchases by the following:

When you have spent the amounts listed below in total annual purchases: You earn Cashback Bonus at the listed tier level:
$3,000.01+ (unlimited)
$0-$3,000
1.00% (.01)
0.25% (.0025)
All purchases made at select warehouse clubs or discount stores, including grocery stores affiliated with these stores (“Warehouse Purchases”). Call 1-800-347-7896 for a complete list.0.25% (.0025)

We determine your tier level based on your total annual purchases, which is the total amount of purchases made during your Anniversary Year. We do not include Program Purchases or any Warehouse Purchases in calculating your total annual purchases. The calculation to determine your tier level begins again at $0 on the first day of each Anniversary Year.

6/9/2008-TransUnion-703
6/9/2008-Equifax-712
6/9/2008 Experian-635

2/16/2011 Transunion - 675
3/11/2011 Equifax - 688
5/13/2011 Equifax - 704
5/28/2011 Equifax - 704
5/28/2011 Transunion - 724
Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Discover IT vs. Amex BCE


kc12286 wrote:

Out of curiosity I went to the Discover webpage and looked at the cash back terms.  So it seems like until you hit 3k, you're only getting .25% which explains why some months, even when I was purchasing in the cash back category, I was not getting a lot of bang for my buck,

All Other Purchases

You will earn up to 1% Cashback Bonus on all purchases other than Program Purchases. You will earn up to 1% Cashback Bonus on ShopDiscover purchases, unless otherwise specified on ShopDiscover. At the end of each billing period, we calculate your Cashback Bonus by multiplying the total amount you spent on all other purchases by the following:

When you have spent the amounts listed below in total annual purchases: You earn Cashback Bonus at the listed tier level:
$3,000.01+ (unlimited)
$0-$3,000
1.00% (.01)
0.25% (.0025)
All purchases made at select warehouse clubs or discount stores, including grocery stores affiliated with these stores (“Warehouse Purchases”). Call 1-800-347-7896 for a complete list.0.25% (.0025)

We determine your tier level based on your total annual purchases, which is the total amount of purchases made during your Anniversary Year. We do not include Program Purchases or any Warehouse Purchases in calculating your total annual purchases. The calculation to determine your tier level begins again at $0 on the first day of each Anniversary Year.


Yes, a number of posts on this.  Some, including me, pointed out that the difference is very small.  The extra 0.75% on $3000 is $22.50 a year, under $2 a month.  But others have indicated that the IT now gives 1% on the Warehouse Purchases, so if you do a lot of those there could be additional savings.  And with the phrase you post:  We do not include Program Purchases or any Warehouse Purchases in calculating your total annual purchases, those purchases weren't even getting you to the 3K lower cap.....

 

 

Frequent Contributor
Posts: 361
Registered: ‎07-31-2007
0

Re: Discover IT vs. Amex BCE


bs6054 wrote:
Yes, a number of posts on this.  Some, including me, pointed out that the difference is very small.  The extra 0.75% on $3000 is $22.50 a year, under $2 a month.  But others have indicated that the IT now gives 1% on the Warehouse Purchases, so if you do a lot of those there could be additional savings.  And with the phrase you post:  We do not include Program Purchases or any Warehouse Purchases in calculating your total annual purchases, those purchases weren't even getting you to the 3K lower cap.....

 

 Is a warehouse purchase like BJs, Costco?  And I guess program purchase are referring to the regular 5% categories. 

 
Do you think it would be difficult to do a PC?

 

6/9/2008-TransUnion-703
6/9/2008-Equifax-712
6/9/2008 Experian-635

2/16/2011 Transunion - 675
3/11/2011 Equifax - 688
5/13/2011 Equifax - 704
5/28/2011 Equifax - 704
5/28/2011 Transunion - 724

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