topic Re: AMEX BCE v BCP in Credit Cards

AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 01:50:07 GMT

Is it worth it to upgrade to the BCP? I have the BCE & I'm wondering if the BCP is worth the $75 AF.

Can anyone weigh in on their experience with the BCP? Has anyone PC from BCE to BCP (or vice versa)?

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 02:04:02 GMT

Does your grocery/gas spending justify the AF?

Re: AMEX BCE v BCP

tk_0014 — Tue, 25 Jun 2013 03:09:46 GMT

The consensus is yes, after 13 months due to the restrictions implemented by the CARD act on fees increasing.

I'm kicking myself, because I've realized that I will EASILY exceed the margin where it becomes profitable, because I love to use my BCE!

Now, I would like to raise a question, Is it possible to hold both cards? If not, I may have my DW apply, and add me as AU, or I could just wait and PC next april...

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:15:22 GMT

I have to put maybe $80 in my tank every two weeks. And I spend maybe $60-80 in groceries every two weeks. So lets say $160 every two weeks. So... I'm not 100% sure if it does. The problem is I do majority of my grocery shopping at Target, and I'm pretty sure they aren't counted as a grocery store.

Re: AMEX BCE v BCP

SnackTrader — Tue, 25 Jun 2013 03:17:15 GMT

You need to figure out more accurately if you meet the break even calculations to where the BcP is more profitable than the BCE. Easiest way is by saying you need $210 per month in grocery spending. Or with every dollar less than that per month, you need about $6 in either gas or department store spending.

So only $150 in grocery spending per month, you would need approximately $360 in gas/department store spending per month.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:21:05 GMT

@SnackTrader wrote:
You need to figure out more accurately if you meet the break even calculations to where the BcP is more profitable than the BCE. Easiest way is by saying you need $210 per month in grocery spending. Or with every dollar less than that per month, you need about $6 in either gas or department store spending.

So only $150 in grocery spending per month, you would need approximately $360 in gas/department store spending per month.

Thanks. That breakdown helped a lot. And that's too much spending for me in a month. I'm not a huge shopper. So I applied for the right card.

Re: AMEX BCE v BCP

SnackTrader — Tue, 25 Jun 2013 03:29:02 GMT

Glad to help.

Enjoy the card, and good luck with your next 3x CLI attempt!

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:39:59 GMT

Thanks Snack for breaking it down

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:42:13 GMT

@SnackTrader wrote:
Glad to help.

Enjoy the card, and good luck with your next 3x CLI attempt!

Thanks. I think Dec. is the next time I can apply for one, I think I'll only ask for 2x, because I do believe you can have too much avail. credit.

If I did PC to the BCP, I'd get about $165 in cashback a year with my regular spending. So it'd be about $90 a year( when you subtract the AF). That's not bad, but I'm not sure I would remember that I came out on top with $90 when it's time to pay that AF, lol.

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 03:42:56 GMT

For the overwhelming majority of people, the BCP is better, because you can always buy restaurant, gas, itunes, amazon, and any of the prepaid Visa/MCs for the 6% to easily maximize the $6K limit.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:44:02 GMT

Does AMEX offer an upgrade bonus from BCE to BCP?

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 03:47:30 GMT

@Anonymous wrote:
Does AMEX offer an upgrade bonus from BCE to BCP?

Do you mean, the sign-up bonus? No.

And now, in order to qualify for the sign-up bonus, you can't have had the BCP the last 12 months, or BCE for the last 90 days. However, Amex has made exceptions for certain cardmembers, but whether or not they will is uncertain.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:52:08 GMT

Not the sign up bonus (that would be cool though), but how about waiving the annual fee for the first year or a smaller upgrade bonus (maybe $25-50 reward dollars).

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 03:55:49 GMT

@Anonymous wrote:
Not the sign up bonus (that would be cool though), but how about waiving the annual fee for the first year or a smaller upgrade bonus (maybe $25-50 reward dollars).

I've never seen Amex waive the annual fee. This doesn't mean they can't or won't for certain cardmembers, but I've personally never heard of the fee waived for this card, nor heard of any reward bonus for a PC.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 03:56:05 GMT

@Open123 wrote:
@Anonymous wrote:
Does AMEX offer an upgrade bonus from BCE to BCP?
Do you mean, the sign-up bonus? No.

And now, in order to qualify for the sign-up bonus, you can't have had the BCP the last 12 months, or BCE for the last 90 days. However, Amex has made exceptions for certain cardmembers, but whether or not they will is uncertain.

I know I may sound young and dumb here, but sign up bonuses don't matter to me because I know I'm not going to spend that amount of money in a 3 months span. Like spending $1000 in 3 months is FOR ME too much money to spend. I don't want to have to put $1000 on a credit card in 6 months (unless it's small balances that I'm PIF that add up to that in a certain span of time). I know the best time to get these cards are when you're going on a trip or something, but the important thing for me is the 0% interest for x amount of months.

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 03:58:48 GMT

@Anonymous wrote:
I know I may sound young and dumb here...

Not at all.

Many ways to spend $1,000, without really spending $1,000. For example, do you spend $1,000 in 6 months? 8 months? Buy a $1,000 worth of Visa/Mc GCs for 6% cashback, $250 bonus, and use the cards to time-shift your spending.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 04:10:27 GMT

@Open123 wrote:
@Anonymous wrote:
I know I may sound young and dumb here...
Not at all.

Many ways to spend $1,000, without really spending $1,000. For example, do you spend $1,000 in 6 months? 8 months? Buy a $1,000 worth of Visa/Mc GCs for 6% cashback, $250 bonus, and use the cards to time-shift your spending.

So you buy these gift cards and then you pay your bills with them? Can you explain time shifting to me?

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 04:09:42 GMT

@Anonymous wrote:
@Open123 wrote:
@Anonymous wrote:
I know I may sound young and dumb here...
Not at all.

Many ways to spend $1,000, without really spending $1,000. For example, do you spend $1,000 in 6 months? 8 months? Buy a $1,000 worth of Visa/Mc GCs for 6% cashback, $250 bonus, and use the cards to time-shift your spending.
So you buy these gift cards and then you pay your bills with them?

Right, at whatever pace you're going to pay them anyway, but at your own pace. You could take however long you'd like.

Could be bills, gift cards to your favorite restaurants, amazon gift cards, gas cards, and use the Visa/MC to pay for things wherever they're accepted. Now, thanks to the Durbin act, these cards come with pin #s to allow for even more flexibility.

Re: AMEX BCE v BCP

Anonymous — Tue, 25 Jun 2013 04:12:46 GMT

@Open123 wrote:
@Anonymous wrote:
@Open123 wrote:
@Anonymous wrote:
I know I may sound young and dumb here...
Not at all.

Many ways to spend $1,000, without really spending $1,000. For example, do you spend $1,000 in 6 months? 8 months? Buy a $1,000 worth of Visa/Mc GCs for 6% cashback, $250 bonus, and use the cards to time-shift your spending.
So you buy these gift cards and then you pay your bills with them?
Right, at whatever pace you're going to pay them anyway, but at your own pace. You could take however long you'd like.

Could be bills, gift cards to your favorite restaurants, amazon gift cards, gas cards, and use the Visa/MC to pay for things wherever they're accepted. Now, thanks to the Durbin act, these cards come with pin #s to allow for even more flexibility.

And what does time shift mean? Is it like, I'd have the $250 gas card, so instead of using my cash for gas, I'd pay towards my Amex bill and use the gift card? This is an entirely new concept to me.

Re: AMEX BCE v BCP

Open123 — Tue, 25 Jun 2013 04:14:39 GMT

@Anonymous wrote:
And what does time shift mean? Is it like, I'd have the $250 gas card, so instead of using my cash for gas, I'd pay towards my Amex bill and use the gift card?

"Time Shift" means spending $1,000 now for a Visa/MC gift card to reap the bonus, which allows you to spend the $1,000 on bills for the next 6, 8 or 12 months, like you would anyway.