Best rewards program for groceries?

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silver6054
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Postby silver6054 » Mon Jan 28, 2013 7:18 am

Bksuper wrote:To each their own. $4160 on gas...yeesh, you must have a really long commute, or drive a gas guzzler, perhaps both! Personally, Im going to go for that SallieMae Barclaycard next, followed by the Fidelity Amex, then I'll be done until someone comes out with a new credit card I like.


Really? Sallie Mae looks pretty bad unless you buy a lot of books, max grocery/gas give back of $12.50 per month.

OP, if you can get the Penfed, there is almost no point in considering the BCE. BCE has the same grocery rate as PenFed, but is capped (and PF isn't) and a worse rate on gas. The only advantage is if you buy a lot of stuff at the "selected department stores" as you get 2% there whereas PF gives the usual 1%


silver6054
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Postby silver6054 » Mon Jan 28, 2013 7:22 am

me08053 wrote:[ATTACH=CONFIG]120[/ATTACH][ATTACH=CONFIG]121[/ATTACH][ATTACH=CONFIG]122[/ATTACH]


Thanks all! I don't think the Sallie Mae card will be good for me because I'll utilize more than $250 in gas and eventually more in grocery. Current spending is roughly $2500/year for grocery and $4160/year for gas. Could you please take a glance at the three images attached and let me know if my math / reasoning makes sense? It seems you get more % back the less you spend a month on Pen Fed. Really the BCP by my calculations doesn't really win unless you spend the $6K and even then it is only by $21. If you spend less in groceries it appears you make more even at $5K on Penfed. Currently only feeding two but that number will increase as we build the family. I just want the best long term and short term card and I think I found the winner. Just trying to find the best for me and looking to have an expert evaluate my thought process. Thanks!


Re: It seems you get more % back the less you spend a month on Pen Fed.

That's just because of the way the set up the calculations, keeping gas spending constant and changing grocery. As gas gives 5% and grocery 3, the more grocery you add to the mix, the lower the overall rate of return eventually trending to 3% This still compares well to BCP for large grocery spends, when BCP starts giving just 1%

Bksuper
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Postby Bksuper » Mon Jan 28, 2013 7:40 am

silver6054 wrote:Really? Sallie Mae looks pretty bad unless you buy a lot of books, max grocery/gas give back of $12.50 per month.

OP, if you can get the Penfed, there is almost no point in considering the BCE. BCE has the same grocery rate as PenFed, but is capped (and PF isn't) and a worse rate on gas. The only advantage is if you buy a lot of stuff at the "selected department stores" as you get 2% there whereas PF gives the usual 1%

Ah but my spending in those categories as a single college student with a parent-paid-for meal plan and no car is low enough that I will not hit the cap, but would prefer the highest rate (without paying an AF that exceeds the marginal increase in rewards at my spending level; which excludes the BCP) when making small convenience purchases at the grocery store. Yes, textbooks are my largest expense after Tuition/Fees and Housing/Meal Plan (and those 2 have a 3% surcharge to pay by CC yet only count for base rewards, so are paid by echeck), but I already have a Forward that has uncapped 5% (effectively, although I realize straight-up 5% is better) for that. So its really just for an extra few dollars per month at grocery stores for now.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

DavidNY
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Postby DavidNY » Mon Jan 28, 2013 8:25 am

silver6054 wrote:Sallie Mae looks pretty bad unless you buy a lot of books


Amazon is a bookstore.

Bksuper
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Postby Bksuper » Mon Jan 28, 2013 8:39 am

DavidNY wrote:Amazon is a bookstore.


Can you confirm this for this card?
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

FutureBillionaire
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Postby FutureBillionaire » Mon Jan 28, 2013 9:16 am

Bksuper wrote:The SallieMae Barclaycard gives 5% on Groceries, Gas, Bookstores and has no AF, accepted more places than the BCP, but both groceries and gas are capped at $250 per month each and bookstores at $750 per month and the base reward is only 1%.
https://www.salliemae.com/landing/WorldCreditCard/


How easy or hard is it to get this card?
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

Bksuper
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Postby Bksuper » Mon Jan 28, 2013 10:07 am

^It seems to be a card for college students or those who still have student loans, so I would think it would be easier than some of the "top" credit cards like Cash+, CSP, BCP, Penfed, etc. Im still going to wait until the late Spring or early summer to apply though as I want to wait for CLIs on some of my existing cards and for my new Amex to build some history.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

LadyinRed
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Location: Los Angeles, CA

Postby LadyinRed » Mon Jan 28, 2013 1:02 pm

I've had my eye on the Sallie Mae card for some time, but actually have been hesitant about it since I haven't seen much posted about it in this forum... haha.

Personally, I have tens of thousands of dollars in loans through Sallie Mae, so that would be a good reason. I think this would pair nicely with the AMEX BCP since now it has a cap. With the BCP, $6,000 divided by 12 is $500, so an extra $250 a month would be nice. Also even if I wanted to just use it for gas, it seems much easier to get than the PenFed card, and I certainly don't spend more than $100 in gas each month.

One more thing about the Sallie Mae card. You get an extra 5% cash back on online purchases through Upromise (it's one of those click and purchase though this link and you'll get a percentage back). I already use Upromise (when the savings outweigh that of the Chase Ultimate Rewards site). BestBuy.com gets 5% through Upromise, which means 10% with the card.

If the 5% back on bookstores counted Amazon.com then... well... there would be no reason not to get this card.
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)

FutureBillionaire
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Postby FutureBillionaire » Mon Jan 28, 2013 2:11 pm

LadyinRed wrote:I've had my eye on the Sallie Mae card for some time, but actually have been hesitant about it since I haven't seen much posted about it in this forum... haha.

Personally, I have tens of thousands of dollars in loans through Sallie Mae, so that would be a good reason. I think this would pair nicely with the AMEX BCP since now it has a cap. With the BCP, $6,000 divided by 12 is $500, so an extra $250 a month would be nice. Also even if I wanted to just use it for gas, it seems much easier to get than the PenFed card, and I certainly don't spend more than $100 in gas each month.

One more thing about the Sallie Mae card. You get an extra 5% cash back on online purchases through Upromise (it's one of those click and purchase though this link and you'll get a percentage back). I already use Upromise (when the savings outweigh that of the Chase Ultimate Rewards site). BestBuy.com gets 5% through Upromise, which means 10% with the card.

If the 5% back on bookstores counted Amazon.com then... well... there would be no reason not to get this card.


If you have low utilization, I don't see why you wouldn't be able to get a penfed card. I feel like at penfed card is something to get early before you have many cards and high limit. I have two, and I don't have 800 credit. You should give it a shot.
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

FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Mon Jan 28, 2013 2:17 pm

I'm not sure if this card counts Amazon as a bookstore. They have the right to choose I think. I like this card overall.
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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