topic Re: Amex BCP changes announced in Credit Cards

Amex BCP changes announced

Anonymous — Thu, 02 May 2019 08:21:44 GMT

"Starting May 9, American Express AXP-0.18% is adding two new categories to the card’s cashback rewards program.

Card holders will receive 6% back on more than 20 U.S. streaming subscriptions. They include video-streaming services like Amazon Prime AMZN-0.78% YouTube GOOG-1.72% and Netflix NFLX+2.23% HBO T-0.55% and music-streaming services, including Apple Music, Pandora, Amazon Kindle Unlimited and Audible.

It also includes 3% back on transit purchases including parking, tolls, train fares and rideshares, including Lyft LYFT-1.76% and Uber UBER"

https://www.marketwatch.com/amp/story/guid/965A05C8-6861-11E9-ACA1-3F2BE0CA201C

Re: Amex BCP changes announced

NRB525 — Thu, 02 May 2019 08:25:33 GMT

I wonder if that takes the air out of the rumored changes to Green; Amazon and Gas.

Re: Amex BCP changes announced

kdm31091 — Thu, 02 May 2019 10:22:30 GMT

It's nice to see additional categories. For me personally not exciting enough to warrant an app, since I don't use transit services and of the streaming list I only use Netflix, so we aren't talking big rewards. For the right person, this is a nice enhancement.

Re: Amex BCP changes announced

Lucifer — Thu, 02 May 2019 10:35:08 GMT

@NRB525 wrote:
I wonder if that takes the air out of the rumored changes to Green; Amazon and Gas.

Exactly my first thought....

But upon reconsideration......threy really aren't mutually exclusive so I am holding out hope for my most useless card.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 11:38:13 GMT

Ehhh... not really that lucrative to be honest. There are other cards that offer cash back on ride sharing and travel in general that don’t have an AF and streaming services aren’t expensive enough to warrant a category.

Its added value for people who can maximize the grocery benefit for sure but its not a real game-changer either.

Re: Amex BCP changes announced

simplynoir — Thu, 02 May 2019 11:29:53 GMT

The only positive I can see from this is that they didn't raise the AF to do it as far as I can tell from the article.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 12:01:26 GMT

Guess they finally got wise to some of us just buying Netflix gift cards at the grocery store. It's a good move.

Re: Amex BCP changes announced

DaveInAZ — Thu, 02 May 2019 13:00:01 GMT

"Additionally, American Express will no longer provide 3% back on department store purchases. Instead, those purchases will earn just 1% back in rewards dollars"

I dunno about you, but I could spend alot more at Macys than Netflix.

But my BCE is one of my least used cards, I'll still pass on the upgrade to BCP they've been pushing on me since forever.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 13:01:47 GMT

I wonder if this will also go into the BCE...

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 13:09:13 GMT

@DaveInAZ wrote:
"Additionally, American Express will no longer provide 3% back on department store purchases. Instead, those purchases will earn just 1% back in rewards dollars"

I dunno about you, but I could spend alot more at Macys than Netflix.

But my BCE is one of my least used cards, I'll still pass on the upgrade to BCP they've been pushing on me since forever.

I'm going to take a wait and see approach on that. It's not clear from the article if they have an inside scoop, or if they are just relying on previous articles. I think the original reports were based on it being removed from the marketing on the card. Amex has subsequently said that the department store perk is not disappearing, but it wouldn't be the first misleading statement from a major cc company if it did.

Re: Amex BCP changes announced

kilroy8 — Thu, 02 May 2019 13:13:14 GMT

Could it be that these changes are for new cards only? I have received no communication from AmEx regarding any changes. I think that with the date of the change so close, I would have been notified if my account was going to change.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 13:28:08 GMT

Found another article about it, a bit more detailed.

https://www.businesswire.com/news/home/20190502005280/en/

Re: Amex BCP changes announced

kilroy8 — Thu, 02 May 2019 13:38:45 GMT

@Anonymous wrote:
Found another article about it, a bit more detailed.

https://www.businesswire.com/news/home/20190502005280/en/

Thanks, that helped a lot. I guess starting in August, I'll need to use a different card at Kohl's. In the end, with the new streaming thing, it will be about a wash.

The new card design they show resembles the Cash Magnet, I wonder if that is accurate?

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 13:42:03 GMT

I think it’s just to help refresh it against that pesky Uber Visa to justify that AF.

Give us the green card details!!!

Re: Amex BCP changes announced

pinkandgrey — Thu, 02 May 2019 13:42:41 GMT

Those changes don’t affect me at all. I don’t use a lot of that stuff anyway. Besides, I have the BCE not the BCP. I think a lot of us assumed the changes would affect the BCE too, but I guess not. Like someone else said, I wonder what’s going to happen with the Green refresh now...

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 13:48:24 GMT

@kilroy8 wrote:

The new card design they show resembles the Cash Magnet, I wonder if that is accurate?

I was thinking the same thing. That looks insanely similar. My wallet will get a lot more confusing if it is.

If it is accurate, it makes me wonder if they have plans to eventually move the Cash Magnet over to the BCE.

Re: Amex BCP changes announced

kilroy8 — Thu, 02 May 2019 13:50:36 GMT

@Anonymous wrote:
@kilroy8 wrote:

The new card design they show resembles the Cash Magnet, I wonder if that is accurate?
I was thinking the same thing. That looks insanely similar. My wallet will get a lot more confusing if it is.

If it is accurate, it makes me wonder if they have plans to eventually move the Cash Magnet over to the BCE.

I just hope they are more durable. I go through a BCP about every year right now.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 14:03:08 GMT

The card in the picture IS the Cash Magnet with squares popping out instead of the diamond arrow thing.

I thought it was a card stock issue but it looks like Amex really is going to make it that stupid close.

Re: Amex BCP changes announced

kilroy8 — Thu, 02 May 2019 14:02:24 GMT

@Anonymous wrote:
The card in the picture IS the Cash Magnet. I don't know why they are using that image on an article about BCP. Must not have a stock image of the BCP they can use?

No, it doesn't seem to be. If you magnify, you can see that it has "Cash Preferred" lettering on it.

Re: Amex BCP changes announced

Anonymous — Thu, 02 May 2019 14:04:13 GMT

@kilroy8 wrote:
@Anonymous wrote:
The card in the picture IS the Cash Magnet. I don't know why they are using that image on an article about BCP. Must not have a stock image of the BCP they can use?
No, it doesn't seem to be. If you magnify, you can see that it has "Cash Preferred" lettering on it.

Yeah I edited the post. Its a bit stupid to make them so similar. The BCP has big squares popping out instead of the diamond arrow design... I guess they want people to slip up and use the wrong card.