Change to AmEx BCP redemption options

[Anonymous]

This notice was in my latest monthly statement:

Not going to make a difference for me, but thought others might be interested

[Anonymous]

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@Anonymous wrote:

This notice was in my latest monthly statement:

Not going to make a difference for me, but thought others might be interested

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That's interesting as I had assumed redemption for merchandise was a potential profit maker for the issuer (as rates are so bad), but I guess the costs involved might outweigh that.   

[Anonymous]

I could see eliminating "merchandise" as that seems too cost prohibitive, but a GC would be similar to straight cash back in the form of a check issued to yourself. And It's not like you're getting a great deal on said GC anyways.

I guess ultimately they just want you paying your card back in the form of a Statement credit with the rewards. lol

[summerterrace]

The statement credit thing is the one issue that is keeping me from AmEX cash back cards, that and the caps on grocery spending.  Just put the money in my bank account, not that hard.  LOL

[adelphi_sky]

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@Anonymous wrote:

I could see eliminating "merchandise" as that seems too cost prohibitive, but a GC would be similar to straight cash back in the form of a check issued to yourself. And It's not like you're getting a great deal on said GC anyways.

I guess ultimately they just want you paying your card back in the form of a Statement credit with the rewards. lol

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Which is why I just app'd for the Charles Schwab Ivestor card. The cash back goes directly to my brokerage account. Sure it's only 1.5%. But I can find ways to turn it into 10%. 

[disdreamin]

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@summerterrace wrote:

The statement credit thing is the one issue that is keeping me from AmEX cash back cards, that and the caps on grocery spending.  Just put the money in my bank account, not that hard.  LOL

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Eep, your grocery bill must be up there! We hit the spend most years (although not since me and instacart became such good friends) but I still feel like it's a win. The statement credit isn't a big deal, I just adjust payments the following month and it's like it went directly into my bank account anyways

[5KRunner]

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@disdreamin wrote:

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Eep, your grocery bill must be up there! We hit the spend most years (although not since me and instacart became such good friends) but I still feel like it's a win. The statement credit isn't a big deal, I just adjust payments the following month and it's like it went directly into my bank account anyways

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Ha! I easily - I mean VERY easily - hit the $6000 annual cap on the BCP. Then again, there are 6 people living in this house, so...

[disdreamin]

Oh heck yeah, six? Easy peasy haha. We are down to three in the house and it takes a good chunk of the year to hit the $6k spend now. I only wish I could put the college meal plan on BCP and get the 6% on it