topic Re: Best general spend AMEX? in Credit Cards

Best general spend AMEX?

Anonymous — Tue, 19 Apr 2016 16:58:21 GMT

Hey folks, I am planning to close my Delta AMEX because I no longer have much use for it and don't think its worth the annual fee. Before I do, I'd like to apply for a regular AMEX revolver for general spend with no annual fee. For those of you that have them, do you prefer the ED or the BCE? I know one is points based and the other is cash back, but I'm not familar enough with AMEX points to know if they are worthwhile. What's your take? My beef with Delta is how much they've devalued their points in the last couple years so I'm no longer interested in the card.

Re: Best general spend AMEX?

myjourney — Tue, 19 Apr 2016 17:06:14 GMT

@Anonymous wrote:
Hey folks, I am planning to close my Delta AMEX because I no longer have much use for it and don't think its worth the annual fee. Before I do, I'd like to apply for a regular AMEX revolver for general spend with no annual fee. For those of you that have them, do you prefer the ED or the BCE? I know one is points based and the other is cash back, but I'm not familar enough with AMEX points to know if they are worthwhile. What's your take? My beef with Delta is how much they've devalued their points in the last couple years so I'm no longer interested in the card.

Building points w/o say a good bonus unless you spend heavily and travel a lot would not be worth it

In that case BCE would be a better choice as a pure cashback card

And just the opposite if vice verse

Re: Best general spend AMEX?

Mattopotamus — Tue, 19 Apr 2016 17:09:39 GMT

I prefer cashback rewards, so would take the BCE.

Re: Best general spend AMEX?

PointLager — Tue, 19 Apr 2016 17:51:40 GMT

Do the BCR Cashback credits (statement credits I assume) have a minimum level that needs to be reached before you can monetize them? (Like fidelity Amex has 5000 points minimum to get the $50 Cashback. )

Re: Best general spend AMEX?

PointLager — Tue, 19 Apr 2016 17:53:07 GMT

To OP: realize that the cards we've been talking about all have foreign transaction fees, unlike your delta card. Just something to consider if you plan on using the card abroad

Re: Best general spend AMEX?

Anonymous — Tue, 19 Apr 2016 17:58:05 GMT

By far the best use of MRs is airline miles. If you want cash or hotel points, don't get an MR card. If you're switching from Delta to another airline, see how much value you can can by transferring MRs to that other airline, or one of its alliance/codeshare partners.

If you have a Schwab account, you might look at the 1.5% cash back cobrand Amex.

Re: Best general spend AMEX?

takeshi74 — Tue, 19 Apr 2016 18:06:03 GMT

It doesn't matter what we prefer. You can't make your decision just by polling others. It's not just about the card itself or its rewards program but what specifically suits you best. You have to determine the value per point you can get with Membership Rewards and similar programs like Ultimate Rewards, Thank You, etc. You have to look at the redemption options, determine the methods you can use, do the math for your spend and calculate out the value per point. Compare that to the rewards you'd stand to earn with another points/miles program or even a cash back card.

If you can't or don't want to bother with that then stick with cash back. Determining reward value is much easier since it's just spend * earn rate.

There are existing threads for those who have gone through such a process and you can refer to them as resources as well.

Why are you selecting AmEx first? Select specific products that suit you. Don't go about it backwards by selecting the creditor first and then trying to justify a card from the creditor. If you want cash back on general spend then consider one of the 1.5% or 2% cash back cards.

@Anonymous wrote:
the ED or the BCE?

Don't just avoid AF's. Run the numbers. If you're considering the ED & BCE then consider total cost/benefit and see if the EDP or BCP may be a better fit. For any comparison you need to do your own due diligence to compare the options.

Re: Best general spend AMEX?

Anonymous — Tue, 19 Apr 2016 18:10:55 GMT

@takeshi74 wrote:
It doesn't matter what we prefer. You can't make your decision just by polling others. It's not just about the card itself or its rewards program but what specifically suits you best. You have to determine the value per point you can get with Membership Rewards and similar programs like Ultimate Rewards, Thank You, etc. You have to look at the redemption options, determine the methods you can use, do the math for your spend and calculate out the value per point. Compare that to the rewards you'd stand to earn with another points/miles program or even a cash back card.

If you can't or don't want to bother with that then stick with cash back. Determining reward value is much easier since it's just spend * earn rate.

There are existing threads for those who have gone through such a process and you can refer to them as resources as well.

Why are you selecting AmEx first? Select specific products that suit you. Don't go about it backwards by selecting the creditor first and then trying to justify a card from the creditor. If you want cash back on general spend then consider one of the 1.5% or 2% cash back cards.

@Anonymous wrote:
the ED or the BCE?
Don't just avoid AF's. Run the numbers. If you're considering the ED & BCE then consider total cost/benefit and see if the EDP or BCP may be a better fit. For any comparison you need to do your own due diligence to compare the options.

Thanks, I get it but there is nothing wrong with asking for other people's opinion on their experience with the product.

Re: Best general spend AMEX?

Anonymous — Tue, 19 Apr 2016 18:12:45 GMT

As others have stated, you'll have to do some research and determine how you personally value MR points versus cash back. It's widely accepted that MR is preferable because of the value in transferring to partner loyalty programs for flights but that could be useless to you if you have no interest in that particular method of redeeming the points. With a non AF card, building a large stash of MR points could be tough so I think BCE is probably the safer bet.

Re: Best general spend AMEX?

Septrosh — Tue, 19 Apr 2016 18:13:30 GMT

It depends what you are looking for the card to do for you in my opinion. Are you looking for cash back or travel rewards? Travel rewards tend to give you the most bang for your buck it most situations if you used correctly and if that is even a need / want in your life.

For me, I would go with the BCE for the cash back because that's what I choose to use my AMEX for. I use my CSP for the travel rewards for that kind of spending. Your situation could be different.

Re: Best general spend AMEX?

jbsea — Tue, 19 Apr 2016 18:44:41 GMT

I myself love the MR points. They are doing very well for me. But as Myjourney has said without the bonus points I don't think I would go that route. I would go with BCE and just take the cash. Or try to get the bonus on the ED and PRG. These are my most used cards.