Amex BCP Rewards Getting Capped Next Year

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cashback
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Location: NY

Postby cashback » Mon Oct 22, 2012 7:33 pm

It's a sad moment for me. I buy $2000 - $4000 worth of MC Gift cards at my grocery store with my BCP (and get the grocery store fuel kick backs on top). I guess I'll be going to the Cash+ card and hope a home improvement or department store carry these gift cards.
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


trumpet-205
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Location: CA, USA

Postby trumpet-205 » Tue Oct 23, 2012 7:26 pm

Don't those prepaid card come with $5 to $8 purchase fee per card?
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Tue Oct 23, 2012 7:58 pm

$6 per card for me. Using BCP thats a net gain of $24.36 per $500 card I buy. Plus the fuel savings from the grocery store, anywhere from $80 to $300 of free gas a month.
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

andrewket
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Location: Virginia

Postby andrewket » Sun Oct 28, 2012 12:39 pm

cashback wrote:$6 per card for me. Using BCP thats a net gain of $24.36 per $500 card I buy. Plus the fuel savings from the grocery store, anywhere from $80 to $300 of free gas a month.


What is the deal you're using at your grocery store? My local grocery store (Giant) doesn't give us gas points for GC purchases, and even if they did, I don't think I would get anywhere near $80-$300 in savings.

On a different note, I just got my October BCP statement and it doesn't have any notices regarding lowering the cap. The account is only ~6 months old, so perhaps they are waiting for the account to age >1 year before limiting, or some other criterion.

LadyinRed
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Location: Los Angeles, CA

Postby LadyinRed » Sun Oct 28, 2012 4:34 pm

andrewket wrote:On a different note, I just got my October BCP statement and it doesn't have any notices regarding lowering the cap. The account is only ~6 months old, so perhaps they are waiting for the account to age >1 year before limiting, or some other criterion.


I just got my card a month ago - in fact the October statement was my very first statement and it had the cap listed.
AMEX: Blue Cash Preferred (6% on groceries, 3% gas & dept stores)
Capital One: Venture (2 points per $1, equivalent to 2%)
Chase: Freedom (rotating 5% categories), Disney Rewards (1 point per $1, Disney benefits)
US Bank: Cash+ (5% bookstores / 5% Electronic Stores)

cashback
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Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sun Oct 28, 2012 5:06 pm

My grocery store is Price Chopper. Basically they give you $2 in free gas per $100 you spend at the store. They often run specials on gift cards though for $8 off gas per $100 spent on gift cards. I think they have caught on though, I haven't seen that special in 2 months now. But it was good while it lasted. I spent $20 on gas 3 months in a row before!
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

craigm1
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Location: toms river nj

cap

Postby craigm1 » Sun Oct 28, 2012 8:07 pm

thank god I never upgraded my original blue cash no cap for us!!!!!!!!!!!!!
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
Discover Cashback Bonus $10.5k member since 11
US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Mon Oct 29, 2012 9:29 am

cashback wrote:It's a sad moment for me. I buy $2000 - $4000 worth of MC Gift cards at my grocery store with my BCP (and get the grocery store fuel kick backs on top). I guess I'll be going to the Cash+ card and hope a home improvement or department store carry these gift cards.


MC as in Mastercard? I agree with the response below, those cards have hefty fees that can eat away at your rewards.
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

cashback
Centurion Member
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Mon Oct 29, 2012 9:41 am

FutureBillionaire wrote:MC as in Mastercard? I agree with the response below, those cards have hefty fees that can eat away at your rewards.


Not hefty fees. Only $5.95 per card. Using the BCP it's a net gain of $24.40 per card. It works out to be 4.9% for all your purchases if you use gift cards bought with BCP. And you can then use the GC's and shop for groceries at Wal Mart or other cheaper places and still get almost 5% off.
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

FutureBillionaire
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Mon Oct 29, 2012 11:56 am

cashback wrote:Not hefty fees. Only $5.95 per card. Using the BCP it's a net gain of $24.40 per card. It works out to be 4.9% for all your purchases if you use gift cards bought with BCP. And you can then use the GC's and shop for groceries at Wal Mart or other cheaper places and still get almost 5% off.


You know what, I guess I never did the math again after I got my BCP. It wasn't worth it with my other cards, but I think it is with this particular card.

I forgot that department stores sell gift cards to other spots. I'm going to make the change with the Cash + and take advantage of that.
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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