Amex BCP Rewards Getting Capped Next Year

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Gamma
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Postby Gamma » Sun Dec 16, 2012 9:59 pm

cashback wrote:If you didn't read the whole thread, the cap takes effect as of your anniversary date after Jan 16. So don't think you're capped on Jan 16th and stop using it.

I was unsure if the cap would be on jan 15 or our anniversary after jan 15, so I called Amex from 3 different representative and 2/3 told me it start Jan 15, OR your anniversary date in 2013, whichever is sooner. Then again, most representatives wouldn't even know the answer.


cashback
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Postby cashback » Sun Dec 16, 2012 10:21 pm

Gamma wrote:I was unsure if the cap would be on jan 15 or our anniversary after jan 15, so I called Amex from 3 different representative and 2/3 told me it start Jan 15, OR your anniversary date in 2013, whichever is sooner. Then again, most representatives wouldn't even know the answer.


This is the exact wording of it on the statement I got. "This change becomes effective when your account renews on or after January 15, 2013." To me that sounds like its your anniversary date. Someone else on these threads also called and the rep told him that it was your anniversary date too. But it wouldn't be the first time a company gives out conflicting info.
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

Gamma
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Postby Gamma » Sun Dec 16, 2012 10:51 pm

cashback wrote:This is the exact wording of it on the statement I got. "This change becomes effective when your account renews on or after January 15, 2013." To me that sounds like its your anniversary date. Someone else on these threads also called and the rep told him that it was your anniversary date too. But it wouldn't be the first time a company gives out conflicting info.

Yup I see it that way too. A little part of me says it understands that statement as " This change becomes effective when your account renews on Jan 15 OR becomes effective AFTER Jan 15" know what I'm saying? I'm pretty sure it is renew date like you say though, which means I got till July to continue gift card shopping!

cashback
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Postby cashback » Mon Dec 17, 2012 10:06 am

Gamma wrote:Yup I see it that way too. A little part of me says it understands that statement as " This change becomes effective when your account renews on Jan 15 OR becomes effective AFTER Jan 15" know what I'm saying? I'm pretty sure it is renew date like you say though, which means I got till July to continue gift card shopping!


I see what you're saying. Maybe they just want to word it so it's confusing lol. But if it's not your anniversary date I don't know why they wouldn't just write "this change becomes effective on Jan 15" and not add the "when your account renews" part.
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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cap

Postby craigm1 » Mon Dec 17, 2012 10:40 am

anybody on here have the original amex blue cash 5% gas,supermarket,drugstore.


NO CAP
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

silver6054
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Postby silver6054 » Mon Dec 17, 2012 1:11 pm

Right, but no reward either till $6,500 either, right? So not a huge advantage for many people.

My solution is to use BCP till 6K (my cap begins in Feb) then PenFed Rewards, which is 3% upcapped for now. Also, I bought a number of grocery cards (at 6% off) to use some of next year, but that's not a long term solution.

I'm expecting US Bank Cash Plus to be the next card to be "adjusted", as uncapped bill pay seems likely to be the equivalent of gift cards at supermarkets for upsetting profit predictions.

FutureBillionaire
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Postby FutureBillionaire » Mon Dec 17, 2012 1:42 pm

silver6054 wrote:Right, but no reward either till $6,500 either, right? So not a huge advantage for many people.

My solution is to use BCP till 6K (my cap begins in Feb) then PenFed Rewards, which is 3% upcapped for now. Also, I bought a number of grocery cards (at 6% off) to use some of next year, but that's not a long term solution.

I'm expecting US Bank Cash Plus to be the next card to be "adjusted", as uncapped bill pay seems likely to be the equivalent of gift cards at supermarkets for upsetting profit predictions.



Set up 5% at department stores to buy many of the same gift cards that you would at drugstores.
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
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Postby cashback » Mon Dec 17, 2012 1:45 pm

FutureBillionaire wrote:Set up 5% at department stores to buy many of the same gift cards that you would at drugstores.


Did you find a department store that has a good selection of gift cards? I searched all around and only Lowe's had a good selection.
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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Postby FutureBillionaire » Mon Dec 17, 2012 1:49 pm

cashback wrote:Did you find a department store that has a good selection of gift cards? I searched all around and only Lowe's had a good selection.


I only have found Lowe's as well. I really don't go in department stores, that's the problem. I still need to check it out.


I've also seen gift cards at gas stations. Use your Discover IT in there to get some cash back too.
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

craigm1
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Posts: 285
Joined: Wed Dec 01, 2010 8:44 pm
Location: toms river nj

Postby craigm1 » Mon Dec 17, 2012 3:30 pm

Right, but no reward either till $6,500 either, right? So not a huge advantage for many people.

I spent 57k last year on amex and i'm going to hit my $6500 for my new calendar year in 5 weeks. I think I spent like 15k just in groceries last year!!!

craigm1
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



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