Blue Cash Preferred or Costco Amex?

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Robrus1
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Postby Robrus1 » Fri Oct 10, 2014 2:43 pm

Omarperez48 wrote:This is where I get confused because Blue Cash seems way better with 6% back up to $6k so why would I even want the Costco one? Am I getting all this mixed up?


Costco will not be coded as a supermarket/grocery store, but rather a discount/bulk warehouse, and therefore purchases made at Costco with the BCP will not qualify for the 6% cash back. It would kind of defeat the purpose of the Costco AmEx. I don't remember the numbers of the Costco AmEx, I just know it is a also a cash back card.
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Omarperez48
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Postby Omarperez48 » Fri Oct 10, 2014 2:45 pm

Okay so basically I am better off with Costco if this is the place where I shop at mostly. Bummer.
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Macy's $3000

PayPal $1500

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Robrus1
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Postby Robrus1 » Fri Oct 10, 2014 2:51 pm

Omarperez48 wrote:Okay so basically I am better off with Costco if this is the place where I shop at mostly. Bummer.


Costco: 3% Cash Back

at US gas stations and on gasoline at Costco.* *Up to $4,000 per year in purchases, then 1%. Terms and limitations apply. You will receive your cash back annually in the form of a reward coupon. No AF.

So if you shop at Costco seeing as how the BCP and BCE won't give you the 3% that the Costco AmEx does, then yes, the Costco AmEx would net you the most cash back. The unfortunate thing about this card is the annual coupon for cash back as opposed to monthly reward dollars you get with the BCE and BCP.
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Amex BCP 21K
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Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
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Omarperez48
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Postby Omarperez48 » Fri Oct 10, 2014 2:53 pm

I see. And only up to $4,000 ? that is absurd. I'll stick to my PGR at least I get 2% and no other inquiries.
AMEX PRG (Npsl)



CitiPreferred ThankYou $3000



CapOne QuickSilver $4000



CapOne Platinum $5000



CapOne Yamaha $10,500



Macy's $3000



PayPal $1500



1St Financial Bank $900 (have had it for 6 years)



Credit One Bank $1000 (don't use this card)



Selfmade 24 year old, ambitious and future 1%er

TheLethargicAge
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Postby TheLethargicAge » Fri Oct 10, 2014 3:05 pm

Vattené wrote:Being from the rural Midwest where giant Walmarts are ubiquitous, I've never heard of this. Is it like a more upscale, urban version of Walmart?


It wouldn't say it's upscale. It's a lot smaller than Walmart Supercenter and they only sell groceries.
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TheLethargicAge
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Postby TheLethargicAge » Fri Oct 10, 2014 3:06 pm

Omarperez48 wrote:I see. And only up to $4,000 ? that is absurd. I'll stick to my PGR at least I get 2% and no other inquiries.


2X points != 2% (the points to cash conversion of MR points is not 1:1)
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

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Vattené
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Postby Vattené » Fri Oct 10, 2014 3:07 pm

Blue Cash also earns more on department stores, so depending on how much you're dropping at Saks and Neiman Marcus....
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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Vattené
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Postby Vattené » Fri Oct 10, 2014 3:11 pm

TheLethargicAge wrote:It wouldn't say it's upscale. It's a lot smaller than Walmart Supercenter and they only sell groceries.


I see. That just reminded me of when I lived in St. Louis. There is a very high end grocer downtown (can't remember its name) whose parent company is just a regular supermarket (Schnuck's - not sure how widespread they are).
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Omarperez48
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Postby Omarperez48 » Fri Oct 10, 2014 3:21 pm

So the $6k a year also applies to Neiman? I did not know this that means I would get 6% back on this department store? Maybe I should read everything about this card.
AMEX PRG (Npsl)



CitiPreferred ThankYou $3000



CapOne QuickSilver $4000



CapOne Platinum $5000



CapOne Yamaha $10,500



Macy's $3000



PayPal $1500



1St Financial Bank $900 (have had it for 6 years)



Credit One Bank $1000 (don't use this card)



Selfmade 24 year old, ambitious and future 1%er

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Vattené
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Postby Vattené » Fri Oct 10, 2014 3:24 pm

Actually it is just 3% on the BCP (same as gas), and it says "select" U.S. department stores. So be sure to verify your favorites would qualify before committing to this one.

EDITED TO ADD: I haven't looked any deeper than the general info level on the BCP, but it gives the $6,000 cap on supermarkets without mentioning one on gas & department stores. One would have to check the fine print to know for sure if it really was unlimited though.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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