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  1. #1
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    Default Amex BCP Rewards Getting Capped Next Year

    According to a post I saw on Reddit this morning, it appears that the Blue Cash Preferred rewards on groceries is getting capped starting in January 2013.
    FYI Blue Cash Preferred Cardholders: 6% grocery cashback will be capped next year (or, all good things must come to an end). : personalfinance

    So if you have the $75 annual fee Blue Cash preferred, you need to spend $2500 or more in groceries per year to make it worth it over the 3% cashback on groceries (but annual fee free) Blue Cash Everyday.

    A lot of people easily did this by buying not only their groceries at grocery stores, but got 6% cashback on a lot of other items too - by buying gift cards (Shell/Mobile/BP, Amazon/Best Buy, Gap/American Eagle, etc) at the grocery store (single retailer gift cards typically have no fee to buy beyond money loaded on them).

    This was always officially excluded per cashback policy, but Amex could never tell what you were buying because all they got was the total purchase amount and merchant category code - they could tell you spent $252.31 at a grocery store, not that $102.31 was groceries and you bought $150 in gift cards.

    Unfortunately, as of January 15th, 2013, you will only earn 6% cashback on the first $6,000 in grocery spending per calendar year. This should be printed on your October statement.

    The card should still be worthwhile if you break $2,500 in grocery spend as you'll outdo the rewards of the no annual fee card (including deducting the annual fee from those rewards), but for the highly dedicated people buying a lot of gift cards who would break $6K, this may be a big deal.

    More importantly, realize credit card rewards are never set in stone. Sometimes the change is positive (e.g. Discover upped the 5% quarterlies to $1500 in eligible spending from a lower amount), but great rewards can always be capped (e.g. Sallie Mae recently capped the grocery and gas 5% cashback on one of their Visa Signature cards). Always watch your statements.
    $6,000 a year comes out to $500 a month in groceries. That's more than my husband and I spend a month in groceries, but I literally just got the card like a week ago and was really looking forward to the gift card buying trick. Though, I suppose the cap was to probably discourage the gift card buying. I hope that the Chase Freedom card will offer 5% back for a quarter next year - that should help.
    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)
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  2. #2
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    <groan>

    Another one bites the dust.
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  3. #3
    Gold Member Victorleo's Avatar
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    Thats funny my reward dollars have not posted this month for BCP. Amex has dissapointed me lately . :shoot:
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    Quote Originally Posted by Victorleo View Post
    Thats funny my reward dollars have not posted this month for BCP. Amex has dissapointed me lately . :shoot:
    Mine haven't posted either. I almost wonder if they are trying to figure out a way to determine which spending is actually for groceries vs gift cards.
    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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  5. #5
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    Quote Originally Posted by LadyinRed View Post
    According to a post I saw on Reddit this morning, it appears that the AMEX Blue Cash Preferred rewards on groceries is getting capped starting in January 2013.
    FYI Amex Blue Cash Preferred Cardholders: 6% grocery cashback will be capped next year (or, all good things must come to an end). : personalfinance



    $6,000 a year comes out to $500 a month in groceries. That's more than my husband and I spend a month in groceries, but I literally just got the card like a week ago and was really looking forward to the gift card buying trick. Though, I suppose the cap was to probably discourage the gift card buying. I hope that the Chase Freedom card will offer 5% back for a quarter next year - that should help.
    They realized that you can't really tell what you are buying at the grocery store, so they had to do something I guess. You can still make alot of cash with the trick. You will probably just need to spread it between a couple other cards now.
    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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  6. #6
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    I hope they leave the original blue cash alone!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!
    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 15k member since 12
    Citibank Thank You Preffered World Mastercard $16.5k member since 14
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  7. #7
    Platinum Member t528491's Avatar
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    This doesn't affect me right now, as I don't spend nearly enough to warrant getting the BCP over the BCE.
    But I was hoping to use this card a lot in a few years!

    02/12 Authorized user on Chase Freedom ($5000)
    08/12 Discover It ($1500)
    08/12 American Express Zync (NPSL)
    12/12 NFL Visa ($500)


    Future cards:
    Citi Forward for Students 6/13
    American Express Blue Cash Everyday 1/14
    Sallie Mae World Mastercard 2014
    Chase Freedom 2014
    Penfed Platinum Rewards Card 2015
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  8. Centurion Member
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    last year I spent over 9k at the supermaket blah!!!!!!!!!!!
    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 15k member since 12
    Citibank Thank You Preffered World Mastercard $16.5k member since 14
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  9. #9
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    We are in the 300$ a month range (and only buy gift cards when we need to give a gift) so we have a little wiggle room before we would hit the cap. From a selfish perspective I would rather see them keep the 6% flat and cap the spending (at a level I do not intend to hit) rather can cut the category rate.
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  10. #10
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    The cap will hit me hard. I've spent $16k at grocery stores so far this year (Jan-Oct). This was the primary reason I got BCP.
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