Help Me Pick Out My Next CC

[mmoon24]

Hey guys, it's been exactly one year since I last applied for a CC (AMEX BCP), Currently, I would say I don't have a need for anything specific, but at the same time, if there's opportunity to save money, then why not?

Browsing the forums, I have noticed people like the Sallie Mae card, despite its $250 cap on Gas/Groceries. Groceries are taken care of by the BCP, but I figure I can use it as a gas card when my Freedom is not offerring 5% back (that's easily 6 months). I tend to spend 200 bucks on gas per month anyways due to a long commute, so I figure that should be good, right?

Anyways, would like to hear thoughts on any other potential cards. Thanks.

[coldnmn]

The new Sam's club mastercard will have 5% on gas anywhere for the first $6000 in spending. If your a Sam's club member that may be an option. It also has 3% restaurants and travel.

[takeshi74]

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@mmoon24 wrote:

Currently, I would say I don't have a need for anything specific, but at the same time, if there's opportunity to save money, then why not?

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What are your major spend categories aside from groceries?  You really need to proivde your own criteria to narrow down the options.  If you don't need anything then why are you looking for another card?  What's lacking with your current set of cards?

[longtimelurker]

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@mmoon24 wrote:

Hey guys, it's been exactly one year since I last applied for a CC (AMEX BCP), Currently, I would say I don't have a need for anything specific, but at the same time, if there's opportunity to save money, then why not?

Browsing the forums, I have noticed people like the Sallie Mae card, despite its $250 cap on Gas/Groceries. Groceries are taken care of by the BCP, but I figure I can use it as a gas card when my Freedom is not offerring 5% back (that's easily 6 months). I tend to spend 200 bucks on gas per month anyways due to a long commute, so I figure that should be good, right?

Anyways, would like to hear thoughts on any other potential cards. Thanks.

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If you spend $200 a month on gas, and that's all you use the Sallie Mae for, this saves $4 per month over using the BCP, so a total of $24 a year (taking into account the Freedom).    That would not be a great use of a HP, you would do better getting a card with a sign-up bonus, which would be several years of $24 saving.

But the situation changes if you have Amazon or bookstore purchases (you don't seem to have these covered on your existing card), and/or if

a) You spend over your $6K grocery cap, in which case the Sallie Mae can be used once that runs out (actually use both each month so as not to waste the $250 a month cash back) or 

b) You spend under ~ $4.5K on groceries, in which case you could close the BCP and save the annual fee, and use SM instead  (The 1% less is more than made up for by the lack of AF until you spend about $4.5K)

[mmoon24]

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@takeshi74 wrote:

What are your major spend categories aside from groceries?  You really need to proivde your own criteria to narrow down the options.  If you don't need anything then why are you looking for another card?  What's lacking with your current set of cards?

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Grocieres/Gas foot the main chunk. Outside of that, I just do general eating out and shopping of misc things like clothes, electronics, etc. I am still getting the 10% + 10 points per swipe on my Freedom Card, so I abuse that for those purchases as well.

I currently use my AMEX BCP for Gas (3%) when the Freedom is not in season.

Also, my sister is an incoming freshman and brother is in college. So if there's ever a time to get money back on textbooks, now would be it lol.

[juniornj23]

Can someone explain me why should anybody wants a gas reward card 

In Nj 

340 cash 

360 credit 

So is 20 cent at galon if you do the math is cheaper to pay cash even you get 5 or 3 % back 

[psm]

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juniornj23 wrote:

Can someone explain me why should anybody wants a gas reward card 

In Nj 

340 cash 

360 credit 

So is 20 cent at galon if you do the math is cheaper to pay cash even you get 5 or 3 % back 

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Not everyone lives in NJ. Here in MN I have never seen a station that gives more than 3 cents a gallon discount. Most don't give any cash discount.

[keithB]

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@juniornj23 wrote:

Can someone explain me why should anybody wants a gas reward card 

In Nj 

340 cash 

360 credit 

So is 20 cent at galon if you do the math is cheaper to pay cash even you get 5 or 3 % back 

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For 2¢ a gallon difference, I think I'd rather use the convenience of a card.  It's not like you can fill up for $10-20 anymore.

[longtimelurker]

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@juniornj23 wrote:

Can someone explain me why should anybody wants a gas reward card 

In Nj 

340 cash 

360 credit 

So is 20 cent at galon if you do the math is cheaper to pay cash even you get 5 or 3 % back 

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Depending on how you redeem 5% in URs (on the Freedom) might well by worth more than 20% and similarly for MR etc.

[Creditaddict]

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@juniornj23 wrote:

Can someone explain me why should anybody wants a gas reward card 

In Nj 

340 cash 

360 credit 

So is 20 cent at galon if you do the math is cheaper to pay cash even you get 5 or 3 % back 

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This is why I get the Gas brand specific card (76 gas and chevron) because almost all the stations offer the cash price if you use their gas card