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Amex BCP vs BCE rewards

Established Contributor

Re: Amex BCP vs BCE rewards

Thank you for all the info. Should I

1.) CLI BCE
2.) Upgrade BCE card to BCP
3.) App for a new Amex card

in any particular order?
myFICO




Message 11 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards

One last thing, I remember you talked about not wanting to be HPed because of your garden club diamond status in another thread, a new account from Amex will reset diamond to seeding even if it's SP only. Just a heads up.
Message 12 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards


@_NERD wrote:
Thank you for all the info. Should I

1.) CLI BCE
2.) Upgrade BCE card to BCP
3.) App for a new Amex card

in any particular order?
Exactly as you have it.
Message 13 of 33
Established Contributor

Re: Amex BCP vs BCE rewards

What?!?! This is horrifying news.
myFICO




Message 14 of 33
Mega Contributor

Re: Amex BCP vs BCE rewards


@oldman87 wrote:

@_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.

But, as oldman87 suggested earlier, this calculation is only valid with the assumptions:

 

1) All the $6K spend is at stores that Amex counts as grocery stores (e.g. not Target and at least some Walmart stores, or Costco)

2) None of the spend could be covered by 5% cards, such as Freedom, Discover (and for Whole Foods, Chase Amazon)

Message 15 of 33
Valued Contributor

Re: Amex BCP vs BCE rewards

I am a big fan of the BCP, but I am in a unique situation. I have a grocery store where the gas station also codes as groceries, so I was able to:

 

Nearly max 2 Discover cards with cash back match during grocery quarter, so 10% back on about 2.5K

Max out BCP 6K groceries by end of November, 6% less 95 AF

Put another 2K or so (thus far) in groceries on BCE/NFCU MoreRewards at 3%

 

I have earned a bunch of cash on my grocery spend this year.

Message 16 of 33
Mega Contributor

Re: Amex BCP vs BCE rewards


@longtimelurker wrote:

@oldman87 wrote:

@_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.

But, as oldman87 suggested earlier, this calculation is only valid with the assumptions:

 

1) All the $6K spend is at stores that Amex counts as grocery stores (e.g. not Target and at least some Walmart stores, or Costco)

2) None of the spend could be covered by 5% cards, such as Freedom, Discover (and for Whole Foods, Chase Amazon)


Should have also added:  For those with Amazon Prime cards, check to see if gift cards are available on Amazon for that supermarket.   Then, although a little less convenient then just using your card, you get an uncapped 5% on those, which makes the BCP less valuable.   Plus you get the rewards that month and (at least with Chase) you have different cash redemption options, whereas with BCP you get them a month delayed, and as statement credit.   You can get cards for Safeway, Albertsons, Giant/Stop&Shop and WholeFoods.

Message 17 of 33
Established Member

Re: Amex upgrade BCE to BCP | worth it?

Blue Cash Everyday is 3% Cash Back at supermarkets capping at $6,000. After that its 1% and 1% on everything else. To break even with the BCP if you spend an average of $140 a month on groceries, this would break even on the annual fee. From there everything else would put you over the threshold. Though there is a capping threshold over $6000 where it changes to 1%, you would obtain more cashback if you spend that amount a month in groceries alone. 



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Message 18 of 33
Valued Contributor

Re: Amex upgrade BCE to BCP | worth it?


@jrdoctor79 wrote:

Blue Cash Everyday is 3% Cash Back at supermarkets capping at $6,000. After that its 1% and 1% on everything else. To break even with the BCP if you spend an average of $140 a month on groceries, this would break even on the annual fee. From there everything else would put you over the threshold. Though there is a capping threshold over $6000 where it changes to 1%, you would obtain more cashback if you spend that amount a month in groceries alone. 


You have to factor in 3% earned on a no AF BCE, OP will have to spend $264/month to break even on the BCP vs using BCE. And that is just a straight up comparison of BCP vs BCE, not taking into account of other factors like Discover and Freedom's 5% grocery categories.
Message 19 of 33
Super Contributor

Re: Amex BCP vs BCE rewards

Keep in mind also you can often get goods cheaper at stores that don't count as "grocery" for 6% on Amex, such as Target, Walmart, Costco, etc. So don't spend more at "real" grocery stores just to try and justify the 6% if you can save more on the goods to begin with by shopping elsewhere.

Message 20 of 33