flroots wrote:The negatives of the AmEx are an annual fee of $75 and a cap of $6000 on supermarket purchases.
takeshi wrote:Would be easier to provide recommendations if you listed your top spend categories and the volumes you put through them.
You have to run the numbers versus just assuming that the AF and cap are negatives. It's total cost/benefit that you need to compare to the alternatives. For certain levels of spend the BCP is a good fit. For other levels of spend the Sallie Mae or the old Blue Cash may be a better fit.
flroots wrote:We have reviewed cash back credit cards and come up with what we believe to be the best combination.Our requirements were:
no rotating categories: too complicated
reward is cash back.
maximum of 3 credit cards not counting our debit card for use at ATMs
pay balance in full each month to avoid all finance charges
ignore sign up bonuses in evaluation: interested in long term benefits
Thanks. What do you mean by swipe? Is there some immediate way to see if it's coded as a grocery store? I've assumed I would need to purchase something and wait to see how it gets posted.flroots wrote:I've changed my mind again We now plan to convert the BCP to BCE as soon as we've met the promotional spending limit to avoid the annual fee going forward. We have applied for and received approval for a 2nd SM MC for my wife. We'll use both SM cards to double the grocery cap to $500/mo. One of the key factors affecting our decision was that SM has a much broader definition of what constitutes a grocery store compared to the AmEx. Another factor was that our local Save-A-Lot does not accept AmEx. The negative is having to balance the spending between the two SM's each month. In summary the 3 cards we carry going forward will be:
Does anyone know if you get 5% cash back at Sams club with the SM card? I know they accept all MasterCards.
- SM MC #1: 5% on groceries, gas, and books (Amazon)
- SM MC #2: 5% on groceries, gas, and books (Amazon)
- Citi Double Cash MC: 2% on everything else including Sams Club