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If you don't travel, you should not waste your time with Membership Rewards. Your redemption values will generally never be better than 1 cent per point and could be lower (for example, redeeming for Starbucks gift cards gives you 0.7 cents per point). Add in the fact that for the ED card, your points earning will never be higher than 2.2 MR per dollar spent, and it's just absolutely the wrong card for you.
If you get the BCE, you know exactly what your cash back will be worth. And you can earn as much as 3 cents per dollar spent. If you upgrade to the BCP, then you can get 6 cents per dollar spent. Unless you change your mind about traveling, you'd be leaving money on the table with the ED card.
I have already done all of the research on the nice Credit limit increases with Amex.
This is one of the main reasons that I like the company and want to get one of their cards.
In the end, its all about the credit score.
Thanks for your response
Thank you for the information.
I will def be apping for the BCE card.
What you said makes alot of good sense to me, and I def agree !
Oh yeah to answer your questions about scores being good enough. I'll talk about my friend's story of applying for it through PMs. He wouldn't want his story on a public forum lol.
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TCL: $571.05k CCs:23 AAoA: 6yr 1mo Util: ~1% Derog: 0 |
Mortgage: $215.1k Sonata Lease: $1.3k Palisade: $23.8k |
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TCL: $571.05k CCs:23 AAoA: 6yr 1mo Util: ~1% Derog: 0 |
Mortgage: $215.1k Sonata Lease: $1.3k Palisade: $23.8k |
@Anonymous wrote:
Thank you for the information.
I will def be apping for the BCE card.
What you said makes alot of good sense to me, and I def agree !
Looks like you've already made your decision, but another point is that how much would you put on the card should also be considered.
ED(P) only works for middle-ish spending, i.e. you spend enough to make the accumulated points actually useful, but not so much that you can't burn them down. Namely, most meaningful redemptions require a certain amount of MR points per pop (such as around 60K to 65K MRs for a busniess RT ticket to HI) and if you can't earn that kind of points in a reasonably short amount of time your points (or reminder of your points) would just sit there until you hit that amount and do nothing for you. On the otherhand if you spend A LOT then you might have trouble using them as fast as you are earning them (i.e. you only have that much time per year to fly/stay on your own dime/points and those are not enough). In both cases you are forced to leave the points in AMEX's hands without collecting any interest while facing inflation (usually called devaluation when talking about CC points).
BCE(P), however, works for most kinds of spending, since you can cash out as soon as having $25 of CB and you can also cash out as much as you'd like.