topic Re: AmEx Blue Preferred - Cash Back Start Over Date? in Credit Cards

AmEx Blue Preferred - Cash Back Start Over Date?

spritezero1017 — Wed, 23 Sep 2015 15:10:43 GMT

Hello...

My apolgies for being to lazy to dig up my card agreement and I couldnt find an answer to this with casual Googling.

Does the 3% & 6% cash back on the AmEx Blue Preferred start over on the anniversary of your card or at the start of the calendar year? Seeing there's the cap I'd like to know when to switch off to another card until those cash back levels re-boot.

Thanks much.

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 15:59:02 GMT

Anniversary date

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Anonymous — Wed, 23 Sep 2015 16:05:20 GMT

@kdm31091 wrote:
Anniversary date

Well, Amex doesn't think so!

https://www.americanexpress.com/us/credit-cards/personal-card-application/upgrade/SJUpgrade/blue-cash-preferred-credit-card/npa-36188#cardbenefits

An annual reward year is 12 billing periods in a row beginning with the one that includes January 1st; if your billing cycle changes, the length of your annual reward year will also change.

You will earn a reward of 6% on the first $6,000 of eligible purchases in an annual reward year at supermarkets located in the U.S. (superstores and warehouse clubs are not considered supermarkets;

The BCP/BCE have this policy, not anniversary, not quite calendar year, OBC is anniversary.

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 16:09:36 GMT

Oops. Sorry. I meant to say calendar date lol but was reading OPs post and had anniversary in my head.

As an aside the redemption process with BCP is on my nerves lately. Great rewards, but in practice nearly impossible to redeem them all since it has to be increments of 25, not just over 25. With that restriction its almost like the reward percentage is effectively less since you cant access the rewards

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Anonymous — Wed, 23 Sep 2015 16:17:42 GMT

@kdm31091 wrote:
Oops. Sorry. I meant to say calendar date lol but was reading OPs post and had anniversary in my head.

As an aside the redemption process with BCP is on my nerves lately. Great rewards, but in practice nearly impossible to redeem them all since it has to be increments of 25, not just over 25. With that restriction its almost like the reward percentage is effectively less since you cant access the rewards

Yes, exact multiple of $25, and a month later than other programs, is pretty annoying.

I've also complained to Amex about the reward process, where you have to select the quantiy and amount (so you can select 4*$25, 2*$50, 1*100, 1*50+2*25 etc) for something that makes ABSOLUTELY no difference! You will get a $100 statement credit whatever combination you select! Why they can't just say "Redeem $100"...

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 16:20:22 GMT

Pretty much unless you calculate your spend exactly you will always have some rewards that you cannot redeem. Its ridiculous

Re: AmEx Blue Preferred - Cash Back Start Over Date?

UncleB — Wed, 23 Sep 2015 17:19:36 GMT

@kdm31091 wrote:
Pretty much unless you calculate your spend exactly you will always have some rewards that you cannot redeem. Its ridiculous

I just realized that myself this past week when I redeemed rewards for the first time. If I keep this card my entire life, even if I cash in rewards each month (which I don't) there will be some rewards at the every end that will never be realized. The same holds true if you ever cancel the card, unless you calculate it just perfectly, and I'm sure there aren't many folks with the will or ability to get it exactly on the penny of an increment of $25, then wait for two months for redemption before closing the card.

I wonder if this is figured into their accounting somewhere... hell, who am I kidding, this is Amex, of course it's figured in.

The better question is, how much are they saving by placing this restriction on the redemptions? Over millions of cardholders, I'm sure it's not insignificant.

(Side-note: Even with this annoyance, it's still worth it to me... it's just the point I'm 'venting' about...)

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 17:23:52 GMT

It just kinda makes it so technically you arent really getting 6 percent groceries since theres a portion youll never get to redeem. Ugh!

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Anonymous — Wed, 23 Sep 2015 19:31:30 GMT

Even happier that I'm switching over to EDP. I hadn't even looked at redemptions yet. I think I'm at 172.30 or something. Hope I'm at or near 200.00 next statement!

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Revelate — Wed, 23 Sep 2015 19:41:02 GMT

@kdm31091 wrote:
It just kinda makes it so technically you arent really getting 6 percent groceries since theres a portion youll never get to redeem. Ugh!

Maybe I'm confused but it's not like you can't bankroll them for future redemption?

BCP has been a long-term card for me, it hasn't worked out as well as it could but at some point hopefully next month there will be more transactions that land as grocery for Amex and in amounts which the Sallie won't cut it... but that hasn't stopped me from simply aggregating the rewards until a recent expenditure.

Admittedly not the best cash back strategy, but people are seriously worried about losing $24?

Don't piss Amex off unnecessarily, it'll still be there next month or whatever. If the rewards vs. AF make sense it's a good card, if it doesn't, do the math to get the rewards if you care about that level of money, and close the card. Not seeing that it's that complicated and IIRC you're leveraging GC's on it these days so where's the issue?

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 19:45:40 GMT

My point is that yes, it will still be there the next month but its a perpetual cycle where you will very likely never hit exactly 50, 75, etc in rewards. By design, youre basically forced to leave some rewards behind. I dont mind that much since my spend isnt huge, but it does sort of hurt the rewards rate if you cant ever redeem them all.

I may or may not keep it long term. But if I dont I will surely do the math and cash out every penny haha

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Open123 — Wed, 23 Sep 2015 19:51:38 GMT

@kdm31091 wrote:
My point is that yes, it will still be there the next month but its a perpetual cycle where you will very likely never hit exactly 50, 75, etc in rewards. By design, youre basically forced to leave some rewards behind. I dont mind that much since my spend isnt huge, but it does sort of hurt the rewards rate if you cant ever redeem them all.

I may or may not keep it long term. But if I dont I will surely do the math and cash out every penny haha

Sure, but further to Rev's point, assuming this doesn't violate your sense righteousness (not a violation of Amex's T&C), just buy Amazon, Gas card, or restaurant GCs you'll use to round up the redemption to $25.

Cash out, close the card, done.

Re: AmEx Blue Preferred - Cash Back Start Over Date?

kdm31091 — Wed, 23 Sep 2015 19:55:09 GMT

Well they gave me a 25 dollar credit when I upgraded so my fee is really only 50 this year. Ive also used about 25 bucks in amex offers. So my fee has been low. I have time to figure it out

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Anonymous — Wed, 23 Sep 2015 19:58:25 GMT

But forcing you to redeem multiples of $25 is "unfriendly", even Citi Dividend moved away from that, allowing redemption of any amount above the minimum.

Re: AmEx Blue Preferred - Cash Back Start Over Date?

Revelate — Wed, 23 Sep 2015 20:09:51 GMT

@Anonymous wrote:
But forcing you to redeem multiples of $25 is "unfriendly", even Citi Dividend moved away from that, allowing redemption of any amount above the minimum.

It's an unsophisticated software implementation; wasn't arguing that... was simply suggesting in real world terms for "real" consumers it makes no difference.

Possible they did it on purpose, wouldn't put it past someone thinking it was a good idea to make the system more complicated than it needed to be in hopes people wouldn't make full use of the rewards... with the recent VW issue I wouldn't put that sort of shennigans past folks, but it's rare that they'd go out of their way to do that from a software implementation perspective.

If I had to guess this thing was implemented years ago since the common demonination for GC's is $25 and they just did the easy thing and made that the minimum statement credit rather than developing two different systems. Not a fan, but I can see where it evolved into the awkwardness that exists today with regards to statement credit.