The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: TheOnlyJustin on October 20, 2014, 12:25:07 PM
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Hello varying degrees of facial hair,
Still working on a case study as I feel bad for lurking for so long... that being said any thoughts on this Rewards Card?
https://www304.americanexpress.com/credit-card/compare/blue-cash/26129?PID=15-11781647-2528798-9007854-57714031&BUID=CCG&PSKU=BCE&CRTV=BCESBS&CID=2011600
An excerpt from the stipulations of the Rewards...
"You will earn a reward of 6% on the first $6,000 of eligible purchases in an annual reward year at supermarkets located in the U.S. (superstores and warehouse clubs are not considered supermarkets; 3% on eligible purchases of gasoline at gas stations located in the U.S. (superstores, supermarkets and warehouse clubs that sell gasoline are not considered gas stations); 3% on eligible purchases at select department stores located in the U.S. (The current list of select major department stores at which you can earn a 3% reward is available at americanexpress.com/rewards-info); and 1% on all other eligible purchases."
My biggest takeaway is that I need to figure out what their definition of "superstore" is... Depending on how picky they are on that 6% for Grocer and 3% for Gas seems awesome... ( My apologies in advance if I miss something glaring as I am new to looking at Rewards Cards... )
Thoughts?
Regards,
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Sallie Mae Mastercard is the best, IMO.
Monthly:
5% on $250 Gas
5% on $250 Groceries
5% on $750 Amazon/Bookstores.
It's my go-to card. I understand if you have a huge grocery budget with a large family, $250 might not cut it - but I think it does for most!
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Superstores pretty much is Walmart/Target. Any store that is more than groceries alone.
You really have to do the math with your spending to see if the card is worth the 75$ annual fee. At my spending I only make ~$20 more a year compared to a different card but its still "more" so I keep it around. My two cards are the Amex Blue Cash Preferred and then the PricelineRewards for all other spending. Sallie Mae has a 5% grocery and gas card that may be worth it.
5% cash back on the first $250 you spend per month on eligible gas and grocery purchases each and the first $750 you spend per month on eligible book purchases.
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My wife and I use the BCP as our shared card for grocery purchases and dining out together (we have semi-independent finances at this point) and it's working out well for us. As Angie55 pointed out, the big box stores that carry a range of goods aren't going to qualify as supermarkets here. I think that the card works best for bigger families that use mainstream supermarkets or other size households that buy "fancy" or "alternative" groceries (organic, local, etc). I can say that our BCP gives 6% on both of the food co-ops that we shop at regularly (as well as the Safeway and Thriftways that we use less often) and that is a big win for us.
If you shop for a lot of groceries at Costco, Sam's Club, etc you may be better off with a store card (e.g., Costco Amex) or a general purpose cash back card like the newer Citi 1%+1% or the 2% Amex from Fidelity (?). Or perhaps that SallieMae MasterCard, if they use a more expansive definition of groceries.
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Thanks guys,
This leads me in the right direction on some considerations.
For a family spending ALOT on fuel. ( Way too much trying to get job near home ) the 3% also is better than even the best overall 2% card and the difference comes about $5 away a year from covering the annual fee so I think for my personal situation this card would make sense until commute is shortened.
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I just got this card to replace my Delta Skymiles Amex. I've had great customer service from them (for things like attempted fraudulent use) and the rewards sounded pretty good. I don't spend much on gas, but I did the math and I think with what I spend on groceries, it will be worth it to get the preferred.
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You might want to look at the Old Blue Amex. 5% on gas,groceries and drug stores after $6500 in annual spend- no annual fee. Kind of hidden now, but if you do some googling you should be able to find it.
Also, the Fidelity Amex gets 2% back on everything, no AF. Barclay Arrival Plus Mastercard is 2.22% and has an enormous signup bonus that will cover the $89 annual fee for years- plus the fee is waived the first year and I've heard reports of Barclay's waiving it in the second year.
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Bank of America Cash Rewards is 3% on gas
There is a PenFed 5% gas card I believe.