topic Re: Gas and Grocery Card in Credit Cards

Gas and Grocery Card

LShawn08 — Sat, 03 Oct 2015 22:07:54 GMT

Plotting out for a future app next year and only planning to app once for the right card. Can anyone steer me in the right direction of a great gas and grocery card?

Re: Gas and Grocery Card

mongstradamus — Sat, 03 Oct 2015 22:09:26 GMT

@LShawn08 wrote:
Plotting out for a future app next year and only planning to app once for the right card. Can anyone steer me in the right direction of a great gas and grocery card?

cashback vs MR ? AF or no AF?

Re: Gas and Grocery Card

Anonymous — Sat, 03 Oct 2015 22:10:29 GMT

At this point, the best combined card is probably Amex BCP. After the annual fee is factored in, it ends up being ~4.75% back at supermarkets (on $6k spend per year) and 3% back at gas stations.

TheManWhoCan has some charts around that can help you figure it out more easily, based on your spend for each.

Re: Gas and Grocery Card

NRB525 — Sat, 03 Oct 2015 22:11:13 GMT

Where do you live? If on the West Coast, the Golden1 Credit Union has a 3% cash back card on Groceries, Gasoline and Dining. No caps.

Re: Gas and Grocery Card

LShawn08 — Sat, 03 Oct 2015 22:15:58 GMT

@NRB525 wrote:
Where do you live? If on the West Coast, the Golden1 Credit Union has a 3% cash back card on Groceries, Gasoline and Dining. No caps.

I live in Illinois which doesn't mean Chicago. Haha

Re: Gas and Grocery Card

LShawn08 — Sat, 03 Oct 2015 22:16:57 GMT

@mongstradamus wrote:
@LShawn08 wrote:
Plotting out for a future app next year and only planning to app once for the right card. Can anyone steer me in the right direction of a great gas and grocery card?
cashback vs MR ? AF or no AF?

Cashback, preferably no AF.

Re: Gas and Grocery Card

mongstradamus — Sat, 03 Oct 2015 22:21:50 GMT

@LShawn08 wrote:
@mongstradamus wrote:
@LShawn08 wrote:
Plotting out for a future app next year and only planning to app once for the right card. Can anyone steer me in the right direction of a great gas and grocery card?
cashback vs MR ? AF or no AF?
Cashback, preferably no AF.

Your only options are probably BOA cash rewards or amex BCE, both have 3-2-1 format. Its too bad sallie mae card is gone so it seems .

Re: Gas and Grocery Card

kdm31091 — Sat, 03 Oct 2015 22:22:58 GMT

For no AF with cash back, either bank of america cash rewards or amex blue cash everyday. The bank of america is 3 percent gas, 2 percent grocery, 1 percent elsewhere, whereas its reversed on the amex with 3 percent grocery, 2 percent gas (and dept stores) 1 percent elsewhere.

Depending which one you spend more on, theyre both good options.

Re: Gas and Grocery Card

LShawn08 — Sat, 03 Oct 2015 22:33:16 GMT

That is to bad about Sallie Mae and oddly enough BOA just sent me a letter offering me there Cash Rewards Visa CC.

Re: Gas and Grocery Card

Anonymous — Sat, 03 Oct 2015 23:16:31 GMT

I used my new Sallie Mae card that everybody says doesn't exist anymore for the first time on Thursday. 5% rewards on both my gas and walmart purchases posted today. But by all means, let's not let that data point get in the way of the nerfing hysteria.

Re: Gas and Grocery Card

mitchblue — Sat, 03 Oct 2015 23:22:21 GMT

@Anonymous wrote:
I used my new Sallie Mae card that everybody says doesn't exist anymore for the first time on Thursday. 5% rewards on both my gas and walmart purchases posted today. But by all means, let's not let that data point get in the way of the nerfing hysteria.

Honestly, I think we're all going to be granfathered in.. It make no sense to just take it away from everyone.

Re: Gas and Grocery Card

icyhot — Sat, 03 Oct 2015 23:28:14 GMT

I love my BofA cash card. It counts Walmart as groceries. Imagine going Christmas shopping or back to school supplies and getting 2% back. I loved it even more when I banked with BofA and could combine the customer bonus + BankAmerideals all in my savings account, but still a great straight cash card. Also lets you get a check while Amex only lets it be a statement credit

Re: Gas and Grocery Card

kdm31091 — Sat, 03 Oct 2015 23:31:29 GMT

Take note not all Walmarts will count as grocery on BOA, or any card. It truly is location variable.

Re: Gas and Grocery Card

mitchblue — Sat, 03 Oct 2015 23:34:16 GMT

@kdm31091 wrote:
Take note not all Walmarts will count as grocery on BOA, or any card. It truly is location variable.

True that. I'm fortunate my Sallie Mae gets 5% at my Walmart but I know other poeple who have the card and it doesn't work..

Re: Gas and Grocery Card

icyhot — Sat, 03 Oct 2015 23:43:00 GMT

Really? Didn't know that. Gotta test it out then

Re: Gas and Grocery Card

kdm31091 — Sat, 03 Oct 2015 23:48:42 GMT

For fun and giggles ive tried my upromise mastercard at both local Walmarts and they come up as discount stores. Doesnt matter really as my amex is my grocery card and I rarely shop at walmart anyway, but definitely not every walmart counts as grocery.

I get most stuff at target with my redcard or BJs with their 5 percent card, and outside of that I use my BCP at grocery stores.

Re: Gas and Grocery Card

Anonymous — Sun, 04 Oct 2015 00:21:48 GMT

When I use my Amex at the Wal Mart I usually shop at, it comes up as a Discount Store. But when I use my Sallie Mae mastercard at that same Wal Mart, it shows up as groceries.

Re: Gas and Grocery Card

mitchblue — Sun, 04 Oct 2015 00:30:27 GMT

@Anonymous wrote:
When I use my Amex at the Wal Mart I usually shop at, it comes up as a Discount Store. But when I use my Sallie Mae mastercard at that same Wal Mart, it shows up as groceries.

Same.

Re: Gas and Grocery Card

LShawn08 — Sun, 04 Oct 2015 01:08:04 GMT

I prefer to shop at Schnucks anyway but i should keep that in mind.

Re: Gas and Grocery Card

UncleB — Sun, 04 Oct 2015 01:40:39 GMT

There are some really good suggestion here.

I'll just add that I also really don't care for annual fees... that being said, if your grocery spend is high enough the BCP could be a better deal than the BCE, even after you subtract the annual fee. That's actually the case for me.

The cut-off for which one to choose (if you're only talking about groceries) is approx. $210/month. If you spend less, stick with the BCE. If you spend more, even after the AF the BCP will still get you more cash back. This doesn't take department store purchases or gas into account, which you'll also want to consider.

Here's the 'back of the envelope' math (keep in mind this only takes grocery purchases into consideration):

BCP $210/month * 12 = $2520 * 6% = $151.20 - ($75 AF) = $76.20 annual cash back

BCE $210/month * 12 = $2520 * 3% = $75.60 annual cash back