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Is the Amex BCP worth the annual fee?

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Anonymous
Not applicable

Re: Is the Amex BCP worth the annual fee?

do note, walmart doesn't count as supermarket for amex. *not sure about the other stores like target? costco? sam's club? idk. i dont shop at these stores. make sure the 'supermarkets' you buy from mainly are amex 'approved' supermarkets. 

Message 11 of 73
jacetx
Valued Contributor

Re: Is the Amex BCP worth the annual fee?


@Anonymous wrote:

do note, walmart doesn't count as supermarket for amex. *not sure about the other stores like target? costco? sam's club? idk. i dont shop at these stores. make sure the 'supermarkets' you buy from mainly are amex 'approved' supermarkets. 


Costco and Sam's Club are coded as "Wholesale Clubs" I believe, so they do not qualify.

Message 12 of 73
Anonymous
Not applicable

Re: Is the Amex BCP worth the annual fee?

Also, gas stations at supermarkets dont count I believe

Message 13 of 73
longtimelurker
Epic Contributor

Re: Is the Amex BCP worth the annual fee?


@jace8602 wrote:

@longtimelurker wrote:

@jace8602 wrote:

If you spend $500 or more on groceries a month alone is worth it. The following calculation is based on $500 per month and takes into consideration the $6k cap on groceries spend. And this leaves out any sign up bonuses.

 

$500 x 12 = $6000 * 0.06 (6%) = $360 - $75 (AF) = $285 cashback = 4.75% cashback ($285/$6000)


That's just payback of the AF, have to consider what alternatives there are and see if this earns more.   In the past, for example, 2 SM did better.


I'm not considering any other cards since OP specifically asked about the BCP. My calculation includes the payback of the AF because OP wants to know if its worth it, which IMO it is.


But "worth it" sort of implies "compared to what" (including nothing).   So my example, if I offer you a card which pays 0.1% with an annual fee of $1, you are ahead if you spend just $1,000 a year!   Is this a worthwhile card?  No, because you can do much better.

Message 14 of 73
jacetx
Valued Contributor

Re: Is the Amex BCP worth the annual fee?

Also, I'm going to add to that the 3% cashback on select dept stores is nice.

Message 15 of 73
kdm31091
Super Contributor

Re: Is the Amex BCP worth the annual fee?

Personally I found the annoyances with Amex's clunky reward system eclipsed all else for me. Rewards take months to post, they are picky about supermarkets, 25 dollar increments only pretty much guarantees you never cash out the full amount, etc.

Some people don't mind the headaches for the increased rewards but to me it just wasn't worthwhile. Now, to be clear, there are no cards out there otherwise with 6 percent at supermarkets. That said, because of the 25 dollar increment rule, you'll rarely be able to collect the full amount, which to me reduces the effective rewards rate.
Message 16 of 73
jacetx
Valued Contributor

Re: Is the Amex BCP worth the annual fee?


@longtimelurker wrote:

@jace8602 wrote:

@longtimelurker wrote:

@jace8602 wrote:

If you spend $500 or more on groceries a month alone is worth it. The following calculation is based on $500 per month and takes into consideration the $6k cap on groceries spend. And this leaves out any sign up bonuses.

 

$500 x 12 = $6000 * 0.06 (6%) = $360 - $75 (AF) = $285 cashback = 4.75% cashback ($285/$6000)


That's just payback of the AF, have to consider what alternatives there are and see if this earns more.   In the past, for example, 2 SM did better.


I'm not considering any other cards since OP specifically asked about the BCP. My calculation includes the payback of the AF because OP wants to know if its worth it, which IMO it is.


But "worth it" sort of implies "compared to what" (including nothing).   So my example, if I offer you a card which pays 0.1% with an annual fee of $1, you are ahead if you spend just $1,000 a year!   Is this a worthwhile card?  No, because you can do much better.


I understand what you are saying but you are missing my point. You are mentioning the Sallie Mae, which is a mute point since this card is no longer obtainable. Like I said "IMO is worth it" OP can take it or leave, it is up to him/her to do the homework and decide. My example was with grocery spend which is the biggest earner on this card. Would you provide an example of another card that would be better for groceries other than SM?

Message 17 of 73
Anonymous
Not applicable

Re: Is the Amex BCP worth the annual fee?

Good point. What I meant by "Worth it" is in comparison to the Blue Cash Everyday. I want one or the other, but am trying to decide which. 3% is ok, but not thst great in comparison to what I already have. I wanted something stronger, with more rewards. This is my first AMEX. I didn't really want to deal with the points with the Everyday....Def prefer cash back. I am pretty shocked to hear about AMEX's interesting and semi-annoying cash back system. You would think with them being a leader in the industry, they would work out the kinks. I mean "weeks to post"? Makes me love my Cap1 cards even more. lol. I am just looking to learn everything possible I can before opening the AMEX door. 

Message 18 of 73
longtimelurker
Epic Contributor

Re: Is the Amex BCP worth the annual fee?


@jace8602 wrote:

. My example was with grocery spend which is the biggest earner on this card. Would you provide an example of another card that would be better for groceries other than SM?

Well, for bug spend, I already mentioned the OBC (which is what I happen to use even though I have two SM).   If you want to use points (and I know the OP just said prefer cashback) EDP can give more value than the BCP (and PRG above the cap).  The Freedom this quarter can be used  (as UR) which can again impact how useful the BCP can be,

 

But as the OP now says it was just between BCP and BCE, your answer was good.   (IMO, just the wrong question!)

Message 19 of 73
jacetx
Valued Contributor

Re: Is the Amex BCP worth the annual fee?


@Anonymous wrote:

Good point. What I meant by "Worth it" is in comparison to the Blue Cash Everyday. I want one or the other, but am trying to decide which. 3% is ok, but not thst great in comparison to what I already have. I wanted something stronger, with more rewards. This is my first AMEX. I didn't really want to deal with the points with the Everyday....Def prefer cash back. I am pretty shocked to hear about AMEX's interesting and semi-annoying cash back system. You would think with them being a leader in the industry, they would work out the kinks. I mean "weeks to post"? Makes me love my Cap1 cards even more. lol. I am just looking to learn everything possible I can before opening the AMEX door. 


The delay is for sure irritating but it works for me. I put my cashback in savings so I'm not in a rush to get it ASAP. Good for you for doing your research before aplying, I ended up with several cards in the past because I knew I would get approved for it but did not need them or there was something better.

Message 20 of 73
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