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@Pilotdude wrote:
@GaTech wrote:
@kats_rebuild wrote:Are there large differences in the underwriting requirements with these two cards?
Same underwriting requirements.
If you use them exclusively for groceries, you need to spend > $250 a month in groceries to make the BCP worth the $75 annual fee.
This.
BCP is for large families who will spend 500+ a month every month on groceries......or for folks like me and my wife who are expensive eaters.
We have no problem recouping the AF but not everyone does. There is (or was) a nice sign up bonus on Creditcards.com that gave me 250 reward dollars after I spent, I think 1000 in the first 3 months.
I think the percentage at Gas Stations might be higher than the BCE too, but don't hold me to that.
I do know that its nice to use for gas when my Freedom and Discover don't have their bonus category during that particular month. Just be sure to PIF if you do that.
If you do the math, it's only > $208/month in groceries, because the rate of return (with the $75 annual fee gradually increases from 3%, and builds up to a max 4.75% cah back at the $6,000 cap).
BCE -------> $2500*.03 = $75
BCP--------> $2500*.06 - $75(annual fee) = $75.
Thus, you need to spend MORE than $2500 a year in groceries (about $208 a month) to make the BCP worth it.
@GaTech wrote:
@Pilotdude wrote:
@GaTech wrote:
@kats_rebuild wrote:Are there large differences in the underwriting requirements with these two cards?
Same underwriting requirements.
If you use them exclusively for groceries, you need to spend > $250 a month in groceries to make the BCP worth the $75 annual fee.
This.
BCP is for large families who will spend 500+ a month every month on groceries......or for folks like me and my wife who are expensive eaters.
We have no problem recouping the AF but not everyone does. There is (or was) a nice sign up bonus on Creditcards.com that gave me 250 reward dollars after I spent, I think 1000 in the first 3 months.
I think the percentage at Gas Stations might be higher than the BCE too, but don't hold me to that.
I do know that its nice to use for gas when my Freedom and Discover don't have their bonus category during that particular month. Just be sure to PIF if you do that.
If you do the math, it's only > $208/month in groceries, because the rate of return (with the $75 annual fee gradually increases from 3%, and builds up to a max 4.75% cah back at the $6,000 cap).
BCE -------> $2500*.03 = $75
BCP--------> $2500*.06 - $75(annual fee) = $75.
Thus, you need to spend MORE than $2500 a year in groceries (about $208 a month) to make the BCP worth it.
Right, but as said earlier, "groceries" includes anything you can get a gift card for at a supermarket, which is a whole lot of stuff. e.g. if you are a heavy amazon shopper, you can spend the whole $6K on amazon gift cards and get 6% off.
But with the $6K cap, neither card is particularly exciting, but of the two, I still maintain that the BCP is better for the vast majority.