Quick question about the BCE

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mai
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Quick question about the BCE

Postby mai » Sat Nov 28, 2015 4:04 pm

I know that you can link the ED to Amazon and redeem your rewards on purchases. I was wondering if you can do the same with the BCE? I would be interested in applying for the BCE but I'd like to know what options I have when it comes to redemption. Thanks!


augiedog
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Re: Quick question about the BCE

Postby augiedog » Sun Nov 29, 2015 12:41 am

No. You can redeem your cash back as a statement credit in $25 increments.
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kdm31091
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Re: Quick question about the BCE

Postby kdm31091 » Sun Nov 29, 2015 8:46 am

Yeah, there's no shop with amazon feature on BCE/BCP, but you can more or less do the same thing by just making the amazon purchases and then giving yourself a statement credit. The caveat is that it has to be a $25 increment, as mentioned. I have a BCP, and find the $25 increment thing a bit annoying, but it is what it is. I'm ok with a $25 minimum, but to have to also be a $25 increment seems a bit over the top. Hopefully Amex will change it down the road.

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CarefulBuilder14
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Re: Quick question about the BCE

Postby CarefulBuilder14 » Sun Nov 29, 2015 11:56 am

I only use BCE for offers (in the form of automatic statement credits), so my actual cash back accumulates slowly.

If BCE is going to get a reasonably large percentage of your spending, then getting $25 in cash back may not take long.

I'd rather take a statement credit and use a card to make a purchase on Amazon (and earn rewards on the Amazon purchase) than use CC cash back on Amazon. I do see the convenience of using rewards directly on Amazon, though.
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kdm31091
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Re: Quick question about the BCE

Postby kdm31091 » Sun Nov 29, 2015 12:04 pm

CarefulBuilder14 wrote:I only use BCE for offers (in the form of automatic statement credits), so my actual cash back accumulates slowly.

If BCE is going to get a reasonably large percentage of your spending, then getting $25 in cash back may not take long.

I'd rather take a statement credit and use a card to make a purchase on Amazon (and earn rewards on the Amazon purchase) than use CC cash back on Amazon. I do see the convenience of using rewards directly on Amazon, though.


It is convenient, but realistically, paying with a CC vs shopping with points is a nominal difference in convenience (at least to me). Either way, you click a few things and you're done. And like you said, you earn rewards if making the purchase with CC and then taking a credit vs shopping with points outright.

I don't even use my BCP all that terribly much, and you're right the rewards add up fairly quickly thanks to the 3% department stores and gas and 6% groceries. But even when it was a BCE, the rewards added up pretty decently too. I'd love to get more use out of Amex Offers but they just keep throwing me offers for places I don't go to/shop at.

augiedog
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Re: Quick question about the BCE

Postby augiedog » Sun Nov 29, 2015 3:51 pm

I actually like the statement credit vs pay with points. The $25 increments is a bit finicky of them, but at least they don't require you to make a purchase to apply the points towards. It also lessens the mentality that I'm receiving something for free, instead I feel that I have $25-$50 to spend towards something I will enjoy.
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takeshi
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Re: Quick question about the BCE

Postby takeshi » Mon Nov 30, 2015 8:39 am

mai wrote:I know that you can link the ED to Amazon and redeem your rewards on purchases. I was wondering if you can do the same with the BCE? I would be interested in applying for the BCE but I'd like to know what options I have when it comes to redemption. Thanks!

Make sure you're considering total cost/benefit and not just AF. Run the numbers for your spend.

With cards like the ED make sure you're considering redemption method and how that impacts point value. Statement credits and redeeming for merchandise (even with Amazon) are generally poor value. If those are the redemption methods you can use then you may be best served with cash back cards.

kdm31091
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Re: Quick question about the BCE

Postby kdm31091 » Mon Nov 30, 2015 10:39 am

If you want to use points on amazon or any kind of statement credit, the ED isn't a good fit. People talk about the fact that you can use the points on amazon or against charges with the ED, but that does not mean it's a good value. Statement credit or shopping on amazon gives you roughly 0.75 per point if I'm not mistaken. So even if you reach the swipe bonus on the ED, you are still netting a value of basically 1% back on purchases which is weak since you can get a pure 1, 1.5 or 2% cash from other options. Consider that even if you literally never use a BCE for any of the bonus categories, you are getting 1% back in cash on every purchase, even if you don't meet a certain number of swipes.

Basically the MR program benefits travel transfers and if other redemption options will be your focus it probably doesn't make sense for you. The options exist to give people other choices if no travel is on the horizon, but it doesn't mean they are a good value proposition.

It is important not to get caught up in which cards/programs are popular and to really analyze what will make sense for you. The MR and UR programs are popular on forums because a lot of members travel often for work/pleasure, have large incomes to support that, and are spending a lot of money on the cards. Absent those things, those cards just don't make sense. While you can redeem cash for your UR points from CSP, it makes little sense when there are no AF options available.

mai
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Re: Quick question about the BCE

Postby mai » Mon Nov 30, 2015 3:39 pm

Thank you all for your replies. I didn't know about the $25 increments. Sounds like I'd be a lot happier with the ED.

augiedog
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Re: Quick question about the BCE

Postby augiedog » Mon Nov 30, 2015 3:51 pm

mai wrote:Thank you all for your replies. I didn't know about the $25 increments. Sounds like I'd be a lot happier with the ED.


I was slightly surprised about that too when I signed up, but I've been able to redeem every month on it (sometimes every other). Another surprise is that your cash rewards will be issued the month after your statement ends; you're essentially going to be a month behind. All Amex cards seem like that though.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates



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