Blue cash everyday comments

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JackLane
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Blue cash everyday comments

Postby JackLane » Tue Jun 16, 2015 9:17 am

I have been getting Blue Cash Everyday offers for a while. Recently, they improved the bonus to $200 (if I make purchases worth $1000 in 3 months).
Last week, I called up AmEx for some other reason and the CSR offered this card, as Costco AmEx will stop working on March 30, 2016. Silly me, I said yes because I was confusing it with Platinum card with 6% cashback. This card has 3% supermarkets, 2% gas and 1% all rest purchases, and no annual fees.

What do folks suggest, do I keep it or return it? My credit score is about 760, don't know FICO score. I am considering Discover It card as well as it has double cashback offer for one year. I plan to apply for that by the end of July.
Chase Freedom 04/2012. $6500 | Costco AmEx 10/2012 $8100 | AmEx BlueCash 06/2015, $15000 |Discover It 07/2015, $5200 |Amazon Store Prime 01/2016 $2200
Local Credit Union secured card, 12/2009 - Closed 02/2015
Tu-764, Ex-764


takeshi
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Re: Blue cash everyday comments

Postby takeshi » Tue Jun 16, 2015 10:28 am

You have to make the decision based on your spend, priorities and preferences. The cash back on groceries is too low for me and the BCP is a better fit for my spend. However, YMMV. Run the numbers for your spend to help you decide.

JackLane wrote:Silly me, I said yes because I was confusing it with Platinum card with 6% cashback.

Sounds like you need to be more careful in general before making decisions. The Blue Cash Preferred is 6% on groceries with a cap. The Platinum is a charge card and earns MR points. It does not earn at a higher rate for groceries and is only 1x.

JackLane wrote:My credit score is about 760

What credit score? Which model and CRA?

JackLane
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Re: Blue cash everyday comments

Postby JackLane » Tue Jun 16, 2015 10:39 am

Lot to learn..

Which one is BCP card? AmEx Blue Cash Preferred? I am still getting hang of the terminology here.
I wonder if there is any calculator where one can feed monthly expense sheet (say, exported from Mint) and it will calculate cashback depending on the card you select. My expenses are pretty standard, no travel / hotel stay or restaurants, just standard groceries worth $1200-1500 per month, about 70 gallon of gas, and $500 worth misc. expenses.

Credit score is from Experian. Not too sure what model is that.
Chase Freedom 04/2012. $6500 | Costco AmEx 10/2012 $8100 | AmEx BlueCash 06/2015, $15000 |Discover It 07/2015, $5200 |Amazon Store Prime 01/2016 $2200
Local Credit Union secured card, 12/2009 - Closed 02/2015
Tu-764, Ex-764

kdm31091
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Re: Blue cash everyday comments

Postby kdm31091 » Wed Jun 17, 2015 8:18 am

JackLane wrote:Lot to learn..

Which one is BCP card? AmEx Blue Cash Preferred? I am still getting hang of the terminology here.
I wonder if there is any calculator where one can feed monthly expense sheet (say, exported from Mint) and it will calculate cashback depending on the card you select. My expenses are pretty standard, no travel / hotel stay or restaurants, just standard groceries worth $1200-1500 per month, about 70 gallon of gas, and $500 worth misc. expenses.

Credit score is from Experian. Not too sure what model is that.


Just to make sure I'm reading this right -- you spend $1200 a MONTH on groceries?

If that's true, you'd certainly be able to justify the BCP as you'll earn enough rewards vs the annual fee. So if your spend is really that high on groceries, definitely upgrade your BCE to the BCP (Blue Cash Preferred). Your BCE will earn you 3% on groceries with no fee, but with high spend like that you can justify the BCP's $75 fee.

rockyrock
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Location: Ventura, CA

Re: Blue cash everyday comments

Postby rockyrock » Wed Jun 17, 2015 9:08 am

kdm31091 wrote:
JackLane wrote:Lot to learn..

Which one is BCP card? AmEx Blue Cash Preferred? I am still getting hang of the terminology here.
I wonder if there is any calculator where one can feed monthly expense sheet (say, exported from Mint) and it will calculate cashback depending on the card you select. My expenses are pretty standard, no travel / hotel stay or restaurants, just standard groceries worth $1200-1500 per month, about 70 gallon of gas, and $500 worth misc. expenses.

Credit score is from Experian. Not too sure what model is that.


Just to make sure I'm reading this right -- you spend $1200 a MONTH on groceries?

If that's true, you'd certainly be able to justify the BCP as you'll earn enough rewards vs the annual fee. So if your spend is really that high on groceries, definitely upgrade your BCE to the BCP (Blue Cash Preferred). Your BCE will earn you 3% on groceries with no fee, but with high spend like that you can justify the BCP's $75 fee.


I agree, if those numbers are correct, it's a no brainer. You will more than recover the AF. In fact you, like me, will max out the grocery category on the BCP. The CB difference in gas purchases alone will cover 1/3 of the AF...
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

Vermonster
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Re: Blue cash everyday comments

Postby Vermonster » Wed Jun 17, 2015 9:50 am

As long as you are spending that at a real grocery store then you should definitely get a BCP. I'd double check that Amex considers your regular stores as "Grocery"
The uncapped 3% gas is nice too. You will easily make use of the BCP.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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