10-09-2013 04:34 AM - edited 10-09-2013 04:35 AM
I buck the trend and suggest you apply for the Sallie Mae World Mastercard. %5 on Grocery @ $250/Mo, 5% on Gas @ $250/Mo, 5% on Book Stores @ $750/Mo
You say you spend $300 - $350 on gas per month. The Sallie Mae has a small monthly cap of $250 on Gas. But 5% capped beats 3% uncapped in this scenario.
Sallie Mae: ($250 X .05) + ($100 X .01) = $13.50 cash back. No Annual Fee.
AmEx BCP: ($350 X .03) = $10.50 cash back, plus you pay an Annual Fee. You do get a nice signup bonus.
Plus much more cash back if you buy some Groceries or Book Store purchases (IE, Amazon.com)
10-09-2013 08:55 AM
10-09-2013 08:56 AM
So this morning, I went ahead and applied for the BCP card and was asked to call their number for a decision.
I called the number, confirmed my information and was then told that my application will need further review and I will receive a decision in 24 hours.
I'm thinking maybe one of the reports they pulled was not good enough so they are looking at another report.
did you get 7-10 message or was it something else. I got 7-10 and called in and was approved i was actually pretty suprised.
10-09-2013 08:58 AM
Which BofA card do you have? The BofA BankAmericard Cash Rewards is 3% gas, 2% groceries, 1% everything else with a 10% bonus if redeemed into a BofA checking/savings, with no AF.
Note: It looks like you went for the BCP. That works too.
10-09-2013 11:51 AM
I see you've already applied for the BCP... and i think that is a good call. I app'd for the BCE because, like you, I do not like having AF on any of my card. Now that I've had it for a year, i'm thinking I'll PC it to a BCP. It is my main go to card and I could use the bumped up rewards.
If you check your online app status, what does it tell you??
10-09-2013 12:14 PM
10-09-2013 04:00 PM
amazon is considered a bookstore? Even purchases that are not books such as household items?
Items are not individually reported to the credit card companies. What is reported is the buisness type that charged you for a transaction..
Now, Amazon is huge and spread around the country, so they do have multiple business types. If you buy Music or MP3 downloads, etc, that gets marked as a music store purchase, whereas most stuff you buy from Amazon gets marked as comming from a bookstore. If you order stuff and it is shipped from a 3rd party, I'm guessing thats probably not a bookstore. I haven't verified that last bit myself yet.
Since I use Amazon Prime, I specifically try to buy stuff shipped from Amazon.
Same deal goes for cards with Gas station discounts. I get my 5% cash back on the half price donuts after 4pm... MMM... half price filled bismarks... still tasty.
10-09-2013 04:59 PM
Once the application was submitted, I was thanked for applying. The message also said, "In order to provide you with an instant decision, we need to speak with you. Call during normal hours or we will contact you within 2-3 days if we do not hear from you."
I was not aware that I could check the status of my application online, I will look into that.
I would be very surprised if you weren't approved. Keep us posted.