Should I stick with BC or switch to something else?

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8 posts
stealth210
 
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Location: Memphis, TN

Should I stick with BC or switch to something else?

Postby stealth210 » Thu Nov 01, 2012 8:46 pm

Hello,

First post. I've been trying to figure out what I should do. I apologize if I get a "use search!" response, but I tried and it's still not clear.

I'm trying to see if I should stay with my Blue Cash card or switch to something else. I currently get back about $650/year on ~$50k of purchase. I'm not heavy grocery/gas/drugstore that seems to be the elevation factor of these cards, I merely put 99% of my everyday purchases on this Blue Cash card and pay it off every month and never carry, ever (since I've been using it from 2003).

I'm new to managing credit card plans, so apologies if it's been done ad nauseum.

Thanks for your insight


Money card
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Postby Money card » Sun Nov 04, 2012 12:03 am

is this the basic blue cash, the bluecash perfered or original blue cash? if you were to switch you could only go down to a clear card
or up to a premium card which has annual fees or airlines /hotels which are for people who travel. so you don't have a lot to choose from.
unless your very unhappy with your Blue cash card or your very intrested in a premium card like a green or gold, or if your company is having you travel on business and you want a airline card I would stay with your blue cash card.

cashback
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Postby cashback » Sun Nov 04, 2012 12:15 am

Assuming you have the Blue Cash Everyday card, keep it since you do not spend a lot on groceries. But do the math and see if an upgrade to Blue Cash Preferred would be best for you. It offers 6% at grocery stores.

The US Bank Cash+ card is a must have for cash back. You can pick 2 categories each quarter for 5% cash back (department stores, online bill pay, restaurants, electronic stores, home improvement stores, and more).

For gas, get the PenFed Platinum Cash Rewards card (5%). Those two cards plus your BC card are must haves in my opinion.

Then, you can get rotating category cards. Categories rotate quarterly for 5% cash back but you do not get to choose them. These cards are Chase Freedom, Discover IT, Citi Dividend, and probably more I can't think of.

With the cards mentioned above, you would definitely be able to get more than $650 a year. On $50000 yearly spending, there is no reason you shouldn't be able to get 4% yearly average, which is $2000. I suggest reading the thread on the US Bank Cash+ card. A little cash back secret is to buy gift cards at places you get 5% cash back. That way you can get cash back at places you normally wouldn't!
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

stealth210
 
Posts: 2
Joined: Thu Nov 01, 2012 8:37 pm
Location: Memphis, TN

Postby stealth210 » Sun Nov 04, 2012 10:28 am

Thanks for the advice. I'm pretty sure I just have plain "Blue Cash" according to the card and online. I've had it since 2003. I reran the numbers and I'm closer to $35k, not 50 as I had incorrectly estimated.

AlwaysLearning
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Postby AlwaysLearning » Mon Nov 05, 2012 11:44 am

They're changing to BCP benefits now so that after you've spent 6k on groceries you fall back to 1% cash back. It depends on people and what they feel is their personal limit on what they're willing to spend on a fee for their card. Is making the card fee back x3+ worth it? To some people, that's a no.

I'm still keeping mine for now. But if there were changes that resulted in no longer getting 3% back on gas, I might have to think a little harder.
Everybody's different. Overall, I've really appreciated my cash back card through AMEX.

jeffysdad
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Postby jeffysdad » Mon Nov 05, 2012 1:55 pm

If you're willing to use two-four cards optimized for cashback per spending category, you could be making a nominal 2.5-3% of your spending back, maybe a little more. If you spend $50k a year, you should be getting $1,000 back at the very least. You could do this using just the Fidelity Amex, which pays 2% back on everything.

This year by using the cards in my signature below I will make about $950 cash back on spending of about $28k. This doesn't include about $600 worth of miles/points from sign-up bonuses with the two travel cards (Delta and PriorityClub).
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

FutureBillionaire
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Postby FutureBillionaire » Mon Nov 05, 2012 6:47 pm

I agree with jeffysdad. You should be using cards that get you at or near the max in the particular categories. You could easily earn 1k in cashback.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

FutureBillionaire
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Postby FutureBillionaire » Mon Nov 05, 2012 6:50 pm

cashback wrote:Assuming you have the Blue Cash Everyday card, keep it since you do not spend a lot on groceries. But do the math and see if an upgrade to Blue Cash Preferred would be best for you. It offers 6% at grocery stores.

The US Bank Cash+ card is a must have for cash back. You can pick 2 categories each quarter for 5% cash back (department stores, online bill pay, restaurants, electronic stores, home improvement stores, and more).

For gas, get the PenFed Platinum Cash Rewards card (5%). Those two cards plus your BC card are must haves in my opinion.

Then, you can get rotating category cards. Categories rotate quarterly for 5% cash back but you do not get to choose them. These cards are Chase Freedom, Discover IT, Citi Dividend, and probably more I can't think of.

With the cards mentioned above, you would definitely be able to get more than $650 a year. On $50000 yearly spending, there is no reason you shouldn't be able to get 4% yearly average, which is $2000. I suggest reading the thread on the US Bank Cash+ card. A little cash back secret is to buy gift cards at places you get 5% cash back. That way you can get cash back at places you normally wouldn't!


I agree with everything he said. I also recommend the Platinum Rewards card from Penfed if you spend alot at the grocery store. I prefer the Discover IT as a 5% card, unless you use other Chase cards. I heard you can combine the benefits of multiple Chase Cards.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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