cashback wrote:BCP has taken a huge hit with this cap. It was one of the best cards out there before the cap, if not the best (because of gift cards). With the cap, it is merely a 4.75% grocery card. And that is if you spend exactly 6K, no more, no less.
Bksuper wrote:To be fair, avoiding a hard pull isn't worth that much money unless you were about to apply for a very important loan in the next few months. However, opening a card with an annual fee that would need to be closed if your spending habits or the cards terms change is not something I would do lightly, and certainly not for this card. And Sevenfeet, if you use the SallieMae Barclaycard instead and use that with the PenFed if you're approved (and PC your AF'ed BCP to the BCE either way, but use it instead if you aren't approved for PenFed) after you've hit the SallieMae cap, you would make more money and not pay the AF.
FutureBillionaire wrote:I'm going to get my 6k out of this card. I will happily take the 285 cash back. I will use my Penfed card to help manage the cap. This is still a good card, even if it isn't great. I think your calculations devalue it a bit too much.
Gamma wrote:BCP is far better than the Sallie Mae in terms of cashback. You forget to mention the additional perks Amex offers its costumers every now and then. Last year, I got back $255 back from the Xbox sync feature, $75 back on groceries on Small Business Saturday, $40 back for a sync offer for Best Buy, and a few others. As you can see, I've gotten more than $300 cashback since I got the card in July of last year and I still haven't included my cashback from groceries. What perks does Sallie Mae offer besides balance transfer checks? You really seem to devalue the BCP as if it were a horrible card. Maybe you should get one to better experience the true value of the card.
Bksuper wrote:You can still apply for it: