Get out of here!!! I am looking for a travel card to replace my Freedom and I have received countless offers for both of these. I didn't want to apply for new credit so I immediately delete/throw away. But I am going to take another look. If it has potential for savings for me, I may reevaluate. Thank you
@Anonymous wrote:Is there a minimum spend per category that the community has agree’d that the Anual fee for the BCP is worth it? If not can we make one?
My spending:
about $300/mo on groceries (Walmart neighborhood market)
$60-80/mo on gas
about $30/mo on streaming services.
I ended up downgrading my BCP to a BCE, but I didn't use mine for gas, so our situations are not exactly the same, but our numbers are close. Here is a link to my topic on it with my math where I decided that using the BCE and Discover It card would make me come out almost even between the two cards (and I did end up getting a second Discover It card, so I'm getting 10% for the first year instead of 5% like this math is showing).
I was using $350 per month as my projected grocery spend. With your groceries and streaming being 6%, you'd be at $330 per month there. I have a 5% gas card, so I didn't use it for gas.. so you'll have to figure if you come out ahead in that regard as it's only 2% for the BCE for gas vs 3% for the BCP. They also added that 3% "transit" category to BCP if any of that applies to you. Based on the high end of your average gas spend at $80, the extra 1% would only mean an extra $9.60 per year, so gas isn't likely to be a deciding factor here, but it's worth mentioning.
Let’s not forget the new categories of 6% for streaming services. I forgot about that. It works for Netflix, Amazon Prime, Hulu, Sirius XM, etc. so if you have those you can add to your 6%. I switched all those services over as well.