Do you use your BCE? (If you have one)

[Anonymous]

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@Anonymous wrote:
Nope. Its open bc the credit line and backdate are appreciated.
Sallie Mae #1 - 5% groceries, 5% gas
Sallie Mae #2 - 5% Target, 5% Wal-Mart
BCE is fairly useless in my case. Offers sometimes look nice but its rare I see something I want.

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This would be my ultimate setup...

By the way, could you explain what backdating is, and the benefit of it? 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
Nope. Its open bc the credit line and backdate are appreciated.
Sallie Mae #1 - 5% groceries, 5% gas
Sallie Mae #2 - 5% Target, 5% Wal-Mart
BCE is fairly useless in my case. Offers sometimes look nice but its rare I see something I want.

---

This would be my ultimate setup...

By the way, could you explain what backdating is, and the benefit of it? 

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Ah yes, backdating. In a time not so long ago, AmEx would report your newest trades with them with the same month and year as your first account with them. For example, I have a 39 year backdate (1976), and due partially to my consistent churning of AmEx offers until last year I currently have a 17 yr old AAOA.

[kdm31091]

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@Anonymous wrote:

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@Anonymous wrote:
Nope. Its open bc the credit line and backdate are appreciated.
Sallie Mae #1 - 5% groceries, 5% gas
Sallie Mae #2 - 5% Target, 5% Wal-Mart
BCE is fairly useless in my case. Offers sometimes look nice but its rare I see something I want.

---

This would be my ultimate setup...

By the way, could you explain what backdating is, and the benefit of it? 

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Amex accounts used to "backdate" so if your original card was from 1990, and you opened a new card, it would show as being from 1990. This protected AAOA and let people open new cards without hurting it.

However, as of several months ago, it no longer occurs. Any new account has the date it was opened just like any other lender. So the benefit is gone.

[Anonymous]

Dang, that sucks for anyone who cannot back date and has to reduce their AAoA now. 

Thanks for the info, guys. 

[Man-Of-Steel]

Yes, I use my BCE periodically.  The key benefits of this card for me are the CL, backdate, offers, and the fact that it is an account that I can easily manage and pay in full before the statement cuts, so I can let my other more active accounts report a balance if needed.

[Anonymous]

I use mine once a month. I buy a grocery gift card equal to what I will spend for the month in groceries and gas. I just like it this way so I can make one charge per month and pay it off instead of a charge each week for groceries. I hope that I will get 3% back on gas doing this, but Amex takes so long to post rewards to statements, I have not been able to confirm if it works. I have used a couple of Amex offers, but most of the offers that show up on my account are for places that I wouldn't shop or have never heard of. So for me, the Amex offers are disappointing. And since I'm not sure if I am getting 3% back on groceries by using my gift card method, I really don't know if the BCE is a benefit or not.

[kdm31091]

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@Anonymous wrote:

I use mine once a month. I buy a grocery gift card equal to what I will spend for the month in groceries and gas. I just like it this way so I can make one charge per month and pay it off instead of a charge each week for groceries. I hope that I will get 3% back on gas doing this, but Amex takes so long to post rewards to statements, I have not been able to confirm if it works. I have used a couple of Amex offers, but most of the offers that show up on my account are for places that I wouldn't shop or have never heard of. So for me, the Amex offers are disappointing. And since I'm not sure if I am getting 3% back on groceries by using my gift card method, I really don't know if the BCE is a benefit or not.

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There have been reports of the gift card thing not working correctly (and only getting 1%), but I doubt they scrutinize everyone's transactions in this amount of detail. I think most people who say it does not work are doing it in very large volumes.

[PrimeRate]

Had it SD'd for a few years. Everyday came out - applied for it and closed my BCE, but not before moving it's 20k limit.

Got a nice 30k ED now, which also sits in the SD for the most part lol! 

[Anonymous]

Groceries mainly, and the occasional Amex Offer. But what I really like about it is having my daughters as AUs and being able to set a spend limit on their cards. Enough to cover a small-ish emergency and dorm life expenses, but not QUITE enough to get into seriously fun trouble, lol.

[TitaniumCash]

I use mine sparingly because I prefer other cards with better redemption process. It's great for department store purchases at 3% and the Amex offers are good too. I got the $200 cash back after spending $1000 in 3 months last year.