Heyo,
So my mom has sign up at BJs since last year as it was closer compared to Sam's Club. As it was mention the credit card was being transferred to Capital One. Today my mom got the new card for the account and the One+ card is interesting for members.
Interesting. Thanks for the heads-up, @ZackAttack. I don't have BJs in my area of the country, but it makes me wonder if some other changes might be coming to other cards.
If Capital One can provide 2% cash back elsewhere on this card, perhaps they will finally get around to increasing the Quicksilver cash back from 1.5% to 2.0%. Quicksilver led the charge on the 1.5% cash back and then became stagnant in the past few years as more lucrative cards were phased-in.
Second, I wonder if this change might pressure CITI and COSTCO to finally update the 4-3-2-1 payout on their card. When it was introduced in 2016, it was ahead of the pack in many ways. Seven years later, not so much. The 4% (up to $7K) on gas is still very good. The 3% on uncapped dining and travel (which used to be exceptional for cash back) has been met or eclipsed by many cards. The 2% at Costco/Costco.com is less impressive than it used to be since there are many 2% or even higher cards to use in-warehouse now. The 1% everywhere else has never been very impressive. Again, since CITI can make the Double Cash program profitable, it would seem they could provide a 2% floor everywhere else similar to the Capital One for BJ.
Synchrony and Sams Club offer 5% on gas (with a lower $6K cap,) 3% in-warehouse like the BJs card, plus 3% on dining.
How about ... a 5-4-3-2 setup instead of a 4-3-2-1 setup?? This seems reasonable and a very competitive upgrade for this card.
- 5% on gas, even if they just match the lower Sams Club $6K cap. (The total payout difference is only $20 more.)
- 4% on dining and travel. (They could even put some modest cap on this to keep it from being abused for business or heavier personal travel, like perhaps up to $25K in annual spend.)
- 3% on Costco/Costco.com.
- 2% everywhere else.
Also here because the title...su...brought me in
To stay on topic: too bad BJ's and Sams club is not top tier gas. Its the single thing that makes costco better in my humble opinion
What am I missing? Why would someone choose the One and not the One+? Does the + have an annual fee? Or is it just a matter of which one an applicant qualifies for?
As A_H pointed out, that is interesting to see Cap 1 doing 2% everything.
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@ptatohed wrote:What am I missing? Why would someone choose the One and not the One+? Does the + have an annual fee? Or is it just a matter of which one an applicant qualifies for?
I think I know, @ptatohed even though I'm not a BJs member. Warehouse clubs often have multiple levels of membership. From looking on the BJ's website, it appears the more-rewarding card was reserved for the higher "Perks Rewards" ($110 annual membership) versus the standard "Inner Circle" membership ($55 AF.)
Costco has a similar step-tiered program where the Executive membership ($120 AF) offers 2% back in-warehouse (even without their credit card) on up to about $50K annual spend - $1K cap in rewards. The Gold Star Costco membership is only $60 but there aren't any spend-rebates. *These Executive rebates are separate from the cash back on a Costco Visa credit card.
