BCP

[Anonymous]

For those who have this card, (it's a future goal card of mine) I see that the cashback is only issued as a statement credit?  Can anyone tell me what exactly you do with your 6%?  I spend about $700/month on groceries and I'd hit the $6000 cap easily and then only be earning 1%, but I'd be getting back $384 minus the annual fee.  Still coming out on top.

[TiggerDat]

You could pair it with the SM card and/or the US Bank Cash+ card.  It would take a little work tracking the spending, but it would maximize the rewards.

[kdm31091]

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@Anonymous wrote:

For those who have this card, (it's a future goal card of mine) I see that the cashback is only issued as a statement credit?  Can anyone tell me what exactly you do with your 6%?  I spend about $700/month on groceries and I'd hit the $6000 cap easily and then only be earning 1%, but I'd be getting back $384 minus the annual fee.  Still coming out on top.

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Statement credit or gift cards. Can also get merchandise but not a good value. There's no actual "cash back" as far as a check or direct deposit.

[PNW_Hunter]

I absolutely love my BCP. I do wish they let you redeem any amount of cash for statement credits, not just $25 increments.

I'd pair it was a SM MC for sure! That is my plan once I am exceeding the spending cap

If you exceed that cap, too, then another option would be to go the ED/EDP route if you make the swipe requirement.

[Anonymous]

Switch spend on grocery to more lucrative card once you hit your mark at approximately 8 months in. I didn't use my BCP all that much for the year I had it except to max out the groceries category and meet it's spend.

[Anonymous]

I just use the statement credit.

Pairing BCP with SM is a good idea. Put the first $500 per month of spend onto the BCP, put the rest on SM. You have to do it that way, rather than putting it all on BCP until you hit the $6k, because SM resets monthly, rather than yearly like the BCP. 

[longtimelurker]

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@Anonymous wrote:

I just use the statement credit.

Pairing BCP with SM is a good idea. Put the first $500 per month of spend onto the BCP, put the rest on SM. You have to do it that way, rather than putting it all on BCP until you hit the $6k, because SM resets monthly, rather than yearly like the BCP. 

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Well, for that spend yes, but if spending nearer 9K   "Put the first $250 per month on SM and the rest on BCP"   That makes sure you are using up both caps.   

[Anonymous]

And if you have a Freedom...see if they're having Groceries for a quarter again and factor that in. I was thinking I'd max it sooner than I will, but I use SM at Target that accounts for a chunk of my grocery spend. I try to throw a bit onto SM each month as insurance in case I hit cap near the end. 

[NRB525]

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@Anonymous wrote:

And if you have a Freedom...see if they're having Groceries for a quarter again and factor that in. I was thinking I'd max it sooner than I will, but I use SM at Target that accounts for a chunk of my grocery spend. I try to throw a bit onto SM each month as insurance in case I hit cap near the end. 

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Would not the Target card get 5% back at Target every day?

[takeshi74]

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@Anonymous wrote:

For those who have this card, (it's a future goal card of mine) I see that the cashback is only issued as a statement credit?

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You can redeem for merchandise, gift cards, etc but they didn't seem to be all that great a value last I checked.

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@Anonymous wrote:

I spend about $700/month on groceries and I'd hit the $6000 cap easily and then only be earning 1%, but I'd be getting back $384 minus the annual fee. 

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We spend a bit more and use a pair of BCP's.