Swapping my BoA Cash Rewards with AMEX BCE

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
9 posts
Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Swapping my BoA Cash Rewards with AMEX BCE

Postby Whatamuji » Mon Aug 24, 2015 7:33 pm

I received a good offer in the mail from AMEX offering me a low APR of 12.99% and no interest for 15 months. However I have the BoA Cash Rewards card which offers me similar cashback (3% Gas, 2% Groceries, 1% Everywhere else). I'm on the fence at the moment if I should pay off the balance on my BoA card and close it then apply for the AMEX card. Or just stay with what I've got. I really don't use my BoA card much and it has a higher interest rate compared to the AMEX (22.99 vs 12.99). But my logic is if I close the BoA and go with the AMEX card I can eventually upgrade it to the BCP if I want. What are yalls thoughts?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3962
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby CarefulBuilder14 » Mon Aug 24, 2015 9:48 pm

Whatamuji wrote:I received a good offer in the mail from AMEX offering me a low APR of 12.99% and no interest for 15 months. However I have the BoA Cash Rewards card which offers me similar cashback (3% Gas, 2% Groceries, 1% Everywhere else). I'm on the fence at the moment if I should pay off the balance on my BoA card and close it then apply for the AMEX card. Or just stay with what I've got. I really don't use my BoA card much and it has a higher interest rate compared to the AMEX (22.99 vs 12.99). But my logic is if I close the BoA and go with the AMEX card I can eventually upgrade it to the BCP if I want. What are yalls thoughts?

As someone who got BCE and then Sallie Mae a few weeks later, I can tell you that there can be limited value in having cards that are very similar.

Aren't you already busy with Hilton minimum spend? And what happened to wanting IHG and CSP?

You should be picky about the cards you add, and when you add them. And only think about rewards once you're already paying in full.

And if you don't use a 3% gas, 2% grocery card much...would you really use a 2% gas, 3% grocery card that much more?

For your light spending, a Sallie Mae could be good.

If you spend more or can maybe add an AU, get an EDP and leave those other reward programs in the dust. :D
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby Whatamuji » Mon Aug 24, 2015 9:56 pm

Hilton Minimum Spend...check :cool:

But yes you're right. I don't really have any use for either the BoA or BCE to be honest since I can use my Hilton for those categories. I'll keep the BoA for the time being.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby takeshi » Tue Aug 25, 2015 8:51 am

If you don't use your BoA card much and it is very similar to the BCE then why are you itching for the BCE? Don't just respond to offers. If you want the BCP you can just apply for the BCP. You don't need to go via the BCE.

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby Whatamuji » Tue Aug 25, 2015 12:47 pm

I went ahead and decided against getting the BCE. Thanks for the input.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3962
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby CarefulBuilder14 » Wed Aug 26, 2015 10:33 pm

Whatamuji wrote:I don't really have any use for either the BoA or BCE to be honest since I can use my Hilton for those categories. I'll keep the BoA for the time being.

If your travel habits allow you to redeem Hilton points well, that could be a good option. Some out-of-the-way Hiltons do let you redeem points well during high-vacancy times - occasionally for over 1 cpp. The cash price difference between a property that costs 10k or 15k points and one that costs 70k can sometimes be relatively small. You mentioned making road trips before, and Hilton points could be good for those hotel stays.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby Whatamuji » Thu Aug 27, 2015 1:47 am

Another thing I consider advantageous to me is the fact that my points won't expire as long as I'm a card holder. Of course that can change anytime however for the time being I gonna milk it for all it's worth
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3962
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby CarefulBuilder14 » Thu Aug 27, 2015 1:14 pm

Whatamuji wrote:Another thing I consider advantageous to me is the fact that my points won't expire as long as I'm a card holder. Of course that can change anytime however for the time being I gonna milk it for all it's worth

Just because points don't expire doesn't mean they can't be devalued. Hilton may decide that an individual property that currently costs 20k points should cost 25k points - or 40k points on night when rooms are scarce. These changes are common.

More dreaded is the "new category" event, where a hotel adds a new category, reclassifies old hotels into a new system, and a huge number of properties cost more points.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

Whatamuji
Centurion Member
Centurion Member
 
Posts: 278
Joined: Wed May 27, 2015 10:08 pm
Location: Houston, TX

Re: Swapping my BoA Cash Rewards with AMEX BCE

Postby Whatamuji » Fri Aug 28, 2015 12:07 am

Yeah I found an article awhile back that was from 2013 which showed how the Hilton rewards were structured pre-devaluation. It was a bit better bang for your buck.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 2 guests