Author Topic: Amex BCP Downgrade (Read 10662 times)

DP7 · « **on:** October 10, 2012, 11:28:56 PM »

Seems as though starting jan 2013 the 6% back on groceries will be capped at $6000. http://www.reddit.com/r/personalfinance/comments/10zp8c/fyi_amex_blue_cash_preferred_cardholders_6/

aj26 · « **Reply #1 on:** October 10, 2012, 11:42:51 PM »

this is the most tragic loss we have seen this year

Dan · « **Reply #2 on:** October 10, 2012, 11:53:21 PM »

Well that pretty much makes BCP a pointless card.

aj26 · « **Reply #3 on:** October 11, 2012, 12:27:14 AM »

the bigger question is what to do with all my ap accounts now

HelpMe · « **Reply #4 on:** October 11, 2012, 06:37:55 AM »

Quote from: DP7 on October 10, 2012, 11:28:56 PM

Seems as though starting jan 2013 the 6% back on groceries will be capped at $6000. http://www.reddit.com/r/personalfinance/comments/10zp8c/fyi_amex_blue_cash_preferred_cardholders_6/

It looks like you will still get one year with no cap.

Quote from: aj26 on October 10, 2012, 11:42:51 PM

this is the most tragic loss we have seen this year

I have seen worse

Quote from: Dan on October 10, 2012, 11:53:21 PM

Well that pretty much makes BCP a pointless card.

Lets not put a fork in it just yet.

Quote from: aj26 on October 11, 2012, 12:27:14 AM

the bigger question is what to do with all my ap accounts now

Let someone use them that knows what they are doing.

DP7 · « **Reply #5 on:** October 11, 2012, 07:32:02 AM »

Quote from: HelpMe on October 11, 2012, 06:37:55 AM

It looks like you will still get one year with no cap

What makes you say that?

HelpMe · « **Reply #6 on:** October 11, 2012, 07:54:45 AM »

The exact wording of the email. I will see if I can find it.

3ZeroT · « **Reply #7 on:** October 11, 2012, 08:41:54 AM »

Quote from: HelpMe on October 11, 2012, 07:54:45 AM

The exact wording of the email. I will see if I can find it.

I can HelpYou HelpMe

"This change becomes effective when your account renews on or after January 15, 2013"

HelpMe · « **Reply #8 on:** October 11, 2012, 09:27:22 AM »

Quote from: 3ZeroT on October 11, 2012, 08:41:54 AM

"This change becomes effective when your account renews on or after January 15, 2013"

That is it. TY!

meshugener · « **Reply #9 on:** October 11, 2012, 09:48:42 AM »

The recent enforcement of Amex T&C re churning is much worse than this.
HelpMe is now going to jump out of the cage.

HelpMe · « **Reply #10 on:** October 11, 2012, 09:53:12 AM »

Quote from: meshugener on October 11, 2012, 09:48:42 AM

The recent enforcement of Amex T&C re churning is much worse than this.

As always you have a lot to learn young grasshopper!

Dan · « **Reply #11 on:** October 11, 2012, 10:29:45 AM »

Quote from: HelpMe on October 11, 2012, 06:37:55 AM

Lets not put a fork in it just yet.

$6,000 on SPG that you have anyway=$132 of rewards at 2.2cpp.
$6,000 on Blue Cash=$360-$75 annual fee for a card that was only really rewarding on groceries-$132 you could've earned on SPG for that spend=$153.

I don't think $153 is worth the hassle of another card to keep track of.

AsherO · « **Reply #12 on:** October 11, 2012, 10:33:30 AM »

Quote from: Dan on October 11, 2012, 10:29:45 AM

$6,000 on SPG that you have anyway=$132 of rewards at 2.2cpp.
$6,000 on Blue Cash=$360-$75 annual fee for a card that was only really rewarding on groceries-$132 you could've earned on SPG for that spend=$153.

I don't think $153 is worth the hassle of another card to keep track of.

I think HelpMe means that we can exploit it until the annual cap kicks in. Assuming one can do $20k/month, that's $1.2/month in BCP until it's capped/dead.

Dan · « **Reply #13 on:** October 11, 2012, 10:35:39 AM »

Quote from: AsherO on October 11, 2012, 10:33:30 AM

I think HelpMe means that we can exploit it until the annual cap kicks in. Assuming one can do $20k/month, that's $1.2/month in BCP until it's capped/dead.

True, but just 3 months left for that.