What is the Best Rewards Card (Cash back or Gift Cards)

[stan_the_man]

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@pastnow123 wrote:

I would recommend a AMEX BCE+ BOA 1-2-3 as a good replacement for AMEX BCP? If you don't have tons of grocery expenses to justify annual fee. Everyone agree? 

boa 1-2-3

1% every purchase

2% grocery

3% gas

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The breakeven point between Blue Cash Everday and Blue Cash Preferred is $2,500 in annual grocery spending -- that's just $48.08/week. So, unless you are doing your grocery spending at Costco, Sam's Club, BJ's WalMart or Target, it's really hard to not to cover the annual fee in additional earnings.

Compared to the Bank of America card, the break even point for Blue Cash Preferred is even lower (since the rebate spread is 4%, compared to 3% vs. Blue Cash Everyday) -- $1,875, or $36.06/week.

[pastnow123]

Sorry. I should be more clear. My 2 options here are:   BCE + BOA 1-2-3 combo,   and  BCP

For BCE + BOA 1-2-3:

Use BCE for grocery and BOA for Gas.

For BCP,

Use BCP for both purposes.

The breack even point should still be $2,500 in annual grocery spending --$48.08/week, right?

So, when you can't reach the break even spending, the BCE+BOA 1-2-3 combination would be a good alternative.

Just curious why people not mention BOA 1-2-3 card, think it provides pretty good rewards as well.

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@stan_the_man wrote:

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@pastnow123 wrote:

I would recommend a AMEX BCE+ BOA 1-2-3 as a good replacement for AMEX BCP? If you don't have tons of grocery expenses to justify annual fee. Everyone agree? 

boa 1-2-3

1% every purchase

2% grocery

3% gas

---

The breakeven point between Blue Cash Everday and Blue Cash Preferred is $2,500 in annual grocery spending -- that's just $48.08/week. So, unless you are doing your grocery spending at Costco, Sam's Club, BJ's WalMart or Target, it's really hard to not to cover the annual fee in additional earnings.

Compared to the Bank of America card, the break even point for Blue Cash Preferred is even lower (since the rebate spread is 4%, compared to 3% vs. Blue Cash Everyday) -- $1,875, or $36.06/week.

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[stan_the_man]

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@pastnow123 wrote:

Sorry. I should be more clear. My 2 options here are:   BCE + BOA 1-2-3 combo,   and  BCP

For BCE + BOA 1-2-3:

Use BCE for grocery and BOA for Gas.

For BCP,

Use BCP for both purposes.

The breack even point should still be $2,500 in annual grocery spending --$48.08/week, right?

So, when you can't reach the break even spending, the BCE+BOA 1-2-3 combination would be a good alternative.

Just curious why people not mention BOA 1-2-3 card, think it provides pretty good rewards as well.

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@stan_the_man wrote:

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@pastnow123 wrote:

I would recommend a AMEX BCE+ BOA 1-2-3 as a good replacement for AMEX BCP? If you don't have tons of grocery expenses to justify annual fee. Everyone agree? 

boa 1-2-3

1% every purchase

2% grocery

3% gas

---

The breakeven point between Blue Cash Everday and Blue Cash Preferred is $2,500 in annual grocery spending -- that's just $48.08/week. So, unless you are doing your grocery spending at Costco, Sam's Club, BJ's WalMart or Target, it's really hard to not to cover the annual fee in additional earnings.

Compared to the Bank of America card, the break even point for Blue Cash Preferred is even lower (since the rebate spread is 4%, compared to 3% vs. Blue Cash Everyday) -- $1,875, or $36.06/week.

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My take on the BOA 1-2-3 card is that it's good, but since it doesn't offer the best rate on anything it doesn't make it into the top tier of rewards cards.

[Anonymous]

I don't know why you'd ever get anything besides the bcp. That card is required for getting the best from your grocery spending. Penfed for gas.

[pastnow123]

Penfed would be the best gas card to have, but it takes time, due to the membership and high score requirement. i would say BOA 1-2-3 is currently the next best for gas.

[thebanjoman]

Alternative to Penfed is Fort Knox FCU... same 5% on gas, but 1.25% on everything else... unsure on the requirements/strictness though. I hear they pull TU.

[clocktick]

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@thebanjoman wrote:

Alternative to Penfed is Fort Knox FCU... same 5% on gas, but 1.25% on everything else... unsure on the requirements/strictness though. I hear they pull TU.

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Fort Knox is 5% off of gas if the gasoline is at least $3.50/gallon.

[Anonymous]

bofa cash rewards sig visa

3 gas

2 groceries

1 everything else

plus redeem rewards into bofa checking account and get a 10% bonus. 100 directly deposited into your bofa checking or savings would be 110.

Seems like one of the best in my eyes especially with the 10% bonus and No aF

[thebanjoman]

@clocktick wrote:

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@thebanjoman wrote:

Alternative to Penfed is Fort Knox FCU... same 5% on gas, but 1.25% on everything else... unsure on the requirements/strictness though. I hear they pull TU.

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Fort Knox is 5% off of gas if the gasoline is at least $3.50/gallon.

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No... the reference to $3.50 a gallon is merely the value used for the statement "which equates to a reduction of 17¢ on the gallon"... If gas drops to $1.00/gal, FKFCU still gives 5%, it just equates to 5 cents per gallon instead of 17cents as in the example of $3.50 per gallon.

[SevenNEW]

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@Anonymous wrote:

bofa cash rewards sig visa

3 gas

2 groceries

1 everything else

plus redeem rewards into bofa checking account and get a 10% bonus. 100 directly deposited into your bofa checking or savings would be 110.

Seems like one of the best in my eyes especially with the 10% bonus and No aF

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Does it have caps on the rewards? I really dislike those...