Re: PC - BankAmeric
ard Privileges w/Cash Rewards
11-09-2012 06:57 PM
While I won't pretend to know your financial situation and spending ability/requirements, you are aware that the 1-2-3 Privileges card isn't all that superior to the 1-2-3 cash rewards card, right? Even with the 1.5x versus 1.1x redemption bonus, there is no way to outperform the 1-2-3 cash rewards card with the Privileges with spending on bonus categories accounting for the annual fee ($75) - as far as I've seen, this is unique for a premium rewards card (e.g. BCP v. BCE has no capped categories/will have a cap sufficient to meet the reward equivalency point in the future).
At $6000 gas spending/year, you'll max out at $3 less than the standard card. You'd need an additional $750 in spend in non-bonus categories (e.g. spend $1500/quarter on gas then $62.50 *afterwards* on anything else including groceries) to break even with the standard 1-2-3. While that's not impossible, do you really spend $6k/yr in gas? At $4/gallon and 30 mpg, that's 45000 miles. I'm not aware if there are any particular additional benefits to having the Privileges over the standard 1-2-3 (e.g. you seem to be getting the EMV card; I'm getting one too sometime between now and the end of time, dependent on shipping).
That said, the Privileges card is pretty and they should mint an Amex with no (or relaxed) category bonus caps.