I personally don't see the BCE/BCP being phased out anytime soon. It is their cash back program. Most major CCC's have a points program and a cash back program. As most have said, none of the Amex revolvers have a minimum spend, the Everday line of cards has bonuses for a minimum number of swipes per month.
What it really comes down to is whether you want cash back or start collecting a bank of MR points. I am more of a MR points collector. In the end, the points could be converted to giftcards to restaurants and the like at a 1cent/point rate (just not Amex giftcards - they are more of a .75 cent/point rate). The cash back you just redeem as a check or statement credit in increments of $25. So, 2,500 points for $25. The MR points are best transferred to affiliated travel programs (especially when conversion specials are occurring) to be used for booking travel need. But, as a back up if traveling doesn't seem probable, can be converted to giftcards at the same value to dollar rate for retail/restaurant giftcards as the cash back BCE.
@ezdoesit wrote:I personally don't see the BCE/BCP being phased out anytime soon. It is their cash back program. Most major CCC's have a points program and a cash back program. As most have said, none of the Amex revolvers have a minimum spend, the Everday line of cards has bonuses for a minimum number of swipes per month.
The Blue is not the same as the BCE or BCP two different cards and rewards structure. The Blue is a MR rewards card with no AF with 1:1 card.
With so many cards/abbreviations overlapping, it gets confusing. Either way, just because a card is no longer available, doesn't mean it won't be usable anymore. There are still many people that carry and use the Zync even though it has been retired. Amex still supports the cards as well by sending out new cards before the current card expires. There are still people that carry around credit cards that have been phased out 10 years ago. For the most part, the companies will still support the account.
If you really want the Blue, go for it. But, understand you have better points earning potential with the Everyday.
@takeshi74 wrote:
@wmweeza wrote:I had planned on applying for that card.
Also, I'm just confused on their cards in general, the Everday and BCP etc.
If you're confused then how did you decide on the Blue? Selecting a card is always about finding a card that suits the individual. Many tend to select cards based on rewards. What would your major spend categories be on the card and how much volume would you run through the card? That information would help to narrow down the options.
No annual fee
The Costco TrueEarnings is mentioned because it provides cash back rewards with no AF as long as Costco membership is maintained so if you already have a Costco membership it might be worth considering if the rewards suit your spend. However, the TrueEarnings only issues checks for cash back once a year in February, IIRC. The BCE and BCP allow you to redeem at any time in increments of $25.
I thought about that but again, my income is tiny so my husband pays for our trips to Costco. If I paid we'd then have to transfer money around. The card looks decent, but would you want to transfer money every time you shopped?
Generally speaking, cash back cards tend to be better suited for lower amounts of spend whereas points/miles cards (Membership Rewards in the case of AmEx) are suited to larger amounts of spend. If you tell us more about you and what you're looking for we can help guide you to products suited to you.
EDIT: After reading beyond the OP I'd agree that the BCE is probably a good fit given that the OP wants am AmEx for backdating, warranty, & roadside and has low spend. The old Blue is probably a poor choice since it is a Membership Rewards card. MR points are generally best valued when transferred and it takes a large amount of spend to utilize the points in such a manner (take a look at redemption requirements for frequent flyer programs of the transfer partners).
@wmweeza wrote:My problem is this; I am not a shopper, I am frugal, we even have one car because I honestly cannot justify the cost of having a second one. Can we afford it? Easily, but the point to me is to keep a financial safety net and part of that is not buying items that serve no purpose.
Earning rewards doesn't necessarily require frivolous spend. I charge my insurance (home, auto, etc), electric, cell phone, cable & internet, all fuel and all groceries to earn rewards. These are all costs that I would pay anyway so I might as well get something back for them.
I could set up auto pay since I pay the cable and internet, thanks for the idea!
@wmweeza wrote:Am I correct in that the BCE , maybe I'm misreading this, that you have to charge a certain amount on the card each month, or at least use it many times a month in many small transactions at least.
There is no minimum spend on any of AmEx's revolvers. It sounds like you're confusing the BCE with the rewards bonus on the Everyday cards (ED & EDP). The BCE, BCP and the old Blue Cash are cash back cards. The Everyday cards and the old Blue are Membership Rewards cards.
Thank you! That's where I was confused
The bonus based on number of trasactions only applies to the Everyday cards. I guess it's a bit confusing given that the BCE has "Everyday" in its name. Everyday in this context refers to the new ED & EDP cards with the silver square in the middle. If you carefully look at the info on the BCE it does not mention the bonus based on number of transactions.
@wmweeza wrote:I'm just not a woman who shops,I buy books and things for my business and that's it
I don't think any AmEx will help with books. For what you're describing so far the Sallie Mae may actually be a better fit from a rewards perspective but it won't help with backdating.
Any card will work for my shopping needs, since most modern and antiquarian book dealers accept cards. I was just explaining what I buy. Can we afford to have me suddenly turn into a shopaholic? Sure, but it's just not in my character. I like to invest and enjoy what I have already, thus why I was worried. The way the card promiotions are worded made it sound like I'd have to shop about 200% above what I do, so I really appreciate the explanation
Thank you all for the replies and help.
And that's where I realized I need more coffee. Sorry, idiotic statement on my part! Of course I'd use it elsewhere . Sorry, long night and my brain isn't fully functional today