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Amex BCP vs BCE rewards

Established Contributor

Amex BCP vs BCE rewards

I’ve had my BCE for over 2 years never had a CLI on it. I just now learned what my benefits are. Looks like I would benefit from having the BCP on my grocery budget alone. 6% CB on the max groceries = $360 CB on $500/mo groceries. Then there’s 2% CB on gas. I always wanted a CB card for gas I thought Sam’s Club had a card that offered 5% CB on gas....that’s another story.

So the BCP would net me $265/yr CB after AF. If my math is correct, this would be worth having over a BCE? I have an offer in my AMEX account to upgrade to a BCP and get $250 for spending $2k/90 days.

Your thoughts? Should I request a CLI before upgrading? Would my upgrade offer go away if CLI is approved?
myFICO




Message 1 of 33
32 REPLIES
Valued Contributor

Re: Amex BCP vs BCE rewards

If you can max out 6k per year, you will net $85 with BCP vs BCE. That said, if you end up joining Sam's for its 5% gas, some of that grocery spending will end up at Sam's so I would look at the whole picture before making the move, meanwhile get that CLI going, it shouldn't affect the upgrade offer.

 

I just closed my BCP and moved limit to BCE before the AF was about to hit (1st year waived), between BCE and Discover/Freedom 5% at either grocery or Costco, the math just didn't add up for me.

Message 2 of 33
Established Contributor

Re: Amex BCP vs BCE rewards

My math: 6% on $6,000 groceries = $360. $360 minus $95 AF = $265. Am I missing something?

I’m with Costco but would consider a Sam’s membership. I’ll look at their benefits in a moment. I thought AMEX grocery rewards didn’t apply to Costco/Sams. I’m not considering Sam’s at this time because I don’t want a HP at this time.
myFICO




Message 3 of 33
Moderator

Re: Amex BCP vs BCE rewards

It's worth waiting until you get an email with an incentive to upgrade, however if it makes sense to your budget, then go right ahead. I just love having an "upgrade and receive $XX-XXX dollars" for doing so. Smiley Happy
Message 4 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards


@_NERD wrote:
My math: 6% on $6,000 groceries = $360. $360 minus $95 AF = $265. Am I missing something?

I’m with Costco but would consider a Sam’s membership. I’ll look at their benefits in a moment. I thought AMEX grocery rewards didn’t apply to Costco/Sams. I’m not considering Sam’s at this time because I don’t want a HP at this time.

 

Your math is missing the opportunity cost of 3% you would get from using the no AF BCE, so it's 3% on $6000 = $180 -$95 = $85.  This is why BCP doesn't make sense for cashback people with a full deck which will most likely include Freedom and Discover, assuming each has a 5% quarter on grocery, the math then becomes 3% on $3000 + 1% on $3000 = $90 + $30 = $120, $120 - $95 = $25.  That is assuming maxing out $6000, not easy to do being a wholesale club member and Freedom/Discover 5% wholesale club categories.

 

I wasn't implying Amex rewards applies to wholesale clubs, just saying some of the spending would go to wholesale cubs if you join Sam's because it's probably cheaper than supermarkets even with BCP 6%. Did not know you already have Costco.

Message 5 of 33
Established Contributor

Re: Amex BCP vs BCE rewards

@oldman87: I never heard of opportunity cost. I’m just now starting to use my BCE for groceries. If I am going to put $6k of grocery spend on a credit card annually moving forward, which of these two cards would you recommend?

Thanks!
myFICO




Message 6 of 33
Established Contributor

Re: Amex BCP vs BCE rewards

@Kenny: I don’t have an email but I have an upgrade offer in my Amex account (using AMEX app & website) to upgrade my BCE to a BCP & get $250 back if I spend $2,000 in the first three months.

Does that qualify as an incentive?
myFICO




Message 7 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards


@_NERD wrote:
@oldman87: I never heard of opportunity cost. I’m just now starting to use my BCE for groceries. If I am going to put $6k of grocery spend on a credit card annually moving forward, which of these two cards would you recommend?

Thanks!
BCP, you will make $265 after AF vs $180 with BCE, net gain of $85.
Message 8 of 33
Established Contributor

Re: Amex BCP vs BCE rewards

Thank you, I’ll upgrade to BCP then. If I do a CLI before the upgrade, would that cancel my preapprovals on all the other AMEX cards I’m currently preapproved for? Or if I get a new AMEX card on a SP first, would that reset the CLI clock on my BCE?
myFICO




Message 9 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards

No, getting a CLI shouldn't cancel preapprovals unless you've hit your Amex internal limit, even then Amex will move some of your BCE limits to the approved card. And no, getting a new card will not reset the clock for BCE, the clock will now apply to both BCE and the new card, you can choose either card (only one) when you're eligible for CLI.
Message 10 of 33