BCP 6% limit?

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lawtai
 
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Joined: Tue Dec 18, 2012 10:07 am
Location: NY

BCP 6% limit?

Postby lawtai » Tue Dec 18, 2012 10:09 am

I don't recall this being the case when I first got the card earlier this year?

Each eligible purchase made in the U.S. shall qualify for 6%, 3%, or 1% cash back of the purchase amount as follows: 6% for the first $6,000 of purchases at stand-alone supermarkets in a calendar year (supermarkets do not include superstores and warehouse clubs),


Deweytf4
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Joined: Mon Feb 27, 2012 9:00 pm
Location: Valley village, ca

Postby Deweytf4 » Thu Dec 20, 2012 4:03 pm

Yep,

That's something Amex initiated a few months back. Essentially, if you got the card before Nov 5, you'll still recieve 6% cashback from groceries without any cap until your next aniversary. Nov 5 and beyond, the cap takes place right away.

The reason why Amex placed a cap is because many people would buy gift cards at grocery stores, making a good chunk of profit.

For example, a person would buy $500.00 visa gift card pay 5.95 to activate it, but would still get a $24.00 profit from the 6% cash back.

I understand the reasoning on Amex's part, but I wish they would raise the cap to at least $10,000 or so.



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