Author Topic: Credit Cards, By Benefits  (Read 64553 times)

Offline AJK

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Re: Credit Cards, By Benefits
« Reply #45 on: October 23, 2011, 11:13:13 PM »
How can I exchange MR points for UR points?

You can't.
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Offline DovidR

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Re: Credit Cards, By Benefits
« Reply #46 on: October 24, 2011, 05:42:56 AM »
I'm sure you don't want to hear this, but, like most times, the answer is it depends. The first (and perhaps dispositive) question you need to answer is who you will likely transfer the points to, i.e. look at the transfer partners and decide. That will, in many cases, answer the question for you.
Fair enough.

Ok.... is the Amex PRG the only card that gives points for groceries?

Offline AsherO

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Re: Credit Cards, By Benefits
« Reply #47 on: October 24, 2011, 08:24:29 AM »
Ok.... is the Amex PRG the only card that gives points for groceries?

You mean bonus points, practically every rewards card offers points for spend on groceries :P

There are definitely others, I think one of the Citi TYP cards offers bonus points for grocery spend.
PGF24BMGS

Offline DovidR

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Re: Credit Cards, By Benefits
« Reply #48 on: October 24, 2011, 10:35:28 AM »
You mean bonus points, practically every rewards card offers points for spend on groceries :P

There are definitely others, I think one of the Citi TYP cards offers bonus points for grocery spend.
Yes, I meant bonus points. I'm glad that the meaning came through without having to spell it out.  ::)

Thanks for the quick reply.

Offline AJK

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Re: Credit Cards, By Benefits
« Reply #49 on: October 24, 2011, 12:49:06 PM »
Fair enough.

Ok.... is the Amex PRG the only card that gives points for groceries?

Check out AMEX Blue Cash Preferred. $75 AF/6% CB for groceries.
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Offline DovidR

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Re: Credit Cards, By Benefits
« Reply #50 on: October 24, 2011, 01:44:13 PM »
Check out AMEX Blue Cash Preferred. $75 AF/6% CB for groceries.

I know, but it takes something like $1250 in grocery spending just to break even.
I think you mentioned (on a different thread) buying giftcards, which sounds like a great idea until I look through the local supermarkets and realize that I really don't want any giftcards.
Worse for me, this won't work for Costco purchases.
Finally, I prefer points/miles over cash back (though I admit 6% is bigger than what I'd usually squeeze out of miles anyway. I just there was no annual fee.)   

Offline Dan

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Re: Credit Cards, By Benefits
« Reply #51 on: October 24, 2011, 02:11:43 PM »
I know, but it takes something like $1250 in grocery spending just to break even.

Actually the breakeven is more like $1,900 in grocery spending assuming you get 2% cash back equivalent on other cards (SPG or Freedom, etc)
The not getting 6% at Costco is what really hurts though as groceries at Costco are probably 30% cheaper than at a grocery store.
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Offline bubbles

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Re: Credit Cards, By Benefits
« Reply #52 on: October 24, 2011, 02:13:43 PM »
Actually the breakeven is more like $1,900 in grocery spending assuming you get 2% cash back equivalent on other cards (SPG or Freedom, etc)
The not getting 6% at Costco is what really hurts though as groceries at Costco are probably 30% cheaper than at a grocery store.

We went through this already. The break even is $2500 as opposed to the fee free 3% back blue cash card.
And as far as costco goes it's prob not worth the hassle but you can always get $500 AMEX cards from shoprite for only a $5.95 fee.

Offline AJK

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Re: Credit Cards, By Benefits
« Reply #53 on: October 24, 2011, 03:30:12 PM »
Actually the breakeven is more like $1,900 in grocery spending assuming you get 2% cash back equivalent on other cards (SPG or Freedom, etc)
The not getting 6% at Costco is what really hurts though as groceries at Costco are probably 30% cheaper than at a grocery store.

Where is my math wrong?

To "make back" the $75 AF, you spend $1250. However, the opportunity cost of spending $1250 on the BCP is losing the $1250 of spending on a 2% CB card, i.e. one would lose $25 (1250 x .02). Thus the real annual cost of the BCP would be $100 ($75 AF + $25 opportunity cost). Therefore, why wouldn't the breakeven point be $1667.67 (1667.67 x .06 = $100)?

EDIT: Nevermind.
« Last Edit: October 24, 2011, 03:33:27 PM by AJK »
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Offline bubbles

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Re: Credit Cards, By Benefits
« Reply #54 on: October 24, 2011, 03:34:16 PM »
Where is my math wrong?

To "make back" the $75 AF, you spend $1250. However, the opportunity cost of spending $1250 on the BCP is losing the $1250 of spending on a 2% CB card, i.e. one would lose $25 (1250 x .02). Thus the real annual cost of the BCP would be $100 ($75 AF + $25 opportunity cost). Therefore, why wouldn't the breakeven point be $1667.67 (1667.67 x .06 = $100)?

did you take into account the 2% you would be making on the spend between $1250 and $1667?

EDIT: okay

Offline Dan

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Re: Credit Cards, By Benefits
« Reply #55 on: October 24, 2011, 03:35:55 PM »
That's an awful lot of fuzzy math.

At $1,667 the CB on BCP is $100, less than $75 annual fee for a total of $25 cash back.
At $1,667 at CB on a 2% card is $33.34.

Of course with small purchases on Freedom (with checking and sapphire) you can do much better than 2%.
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Offline DovidR

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Re: Credit Cards, By Benefits
« Reply #56 on: October 24, 2011, 03:55:36 PM »
Of course with small purchases on Freedom (with checking and sapphire) you can do much better than 2%.

Sure, if you live in a state that has Chase banks. I'm in Massachusetts, where I can't get a Chase checking account.
[And if that's not enough of a reason to leave Massachusetts, I also have these Red Sox. Ugh.]

Offline Dan

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Re: Credit Cards, By Benefits
« Reply #57 on: October 24, 2011, 03:58:06 PM »
Sure, if you live in a state that has Chase banks. I'm in Massachusetts, where I can't get a Chase checking account.
[And if that's not enough of a reason to leave Massachusetts, I also have these Red Sox. Ugh.]
You can't signup online?
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Offline AJK

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Re: Credit Cards, By Benefits
« Reply #58 on: October 24, 2011, 03:58:57 PM »
OK, is there anyway to determine, mathematically, and without guesses, the exact breakeven point between the BCP and a generic 2% CB card?
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Offline Dan

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Re: Credit Cards, By Benefits
« Reply #59 on: October 24, 2011, 04:02:20 PM »
Sure, it's $1,875 assuming you are comparing to a 2% card.
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