NEW American Express Blue Cash Cards

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samko said:   LocalMotion said:   ironfist99 said:   pjws3 said:   echip said:   Don't forget to factor in the 6% on gift cards at supermarket for the Blue Cash Preferred card.

do gift cards at supermarkets qualify for the 6% with this card?

Absolutely not. Whenever you buy a gift card at a grocery store, the manager of the store calls your credit card company and informs them how much of your purchase was for gift cards. There is somewhat of a delay between when you make the purchase and when this information is reflected in your account. So the points may show up in your account fora brief period of time, but will be removed before you are able to cash them out.


Huh?
ironfist99 is being sarcastic. There is no way the AMEX will know what you bought from the supermarket.

It appears this is the main benefit of this card. Use the card to buy GC for all the other retailers you usually shop at. Essentially, this gets you 6% off every place that the supermarket sells gift cards to. This often includes Amazon, eBay as well as generic visa and AMEX gift cards (which come with a fee).

I have a Chase Ink card which gives 3% for gas, restaurants, office supply, and hardware stores and 1% everywhere else (limit $2000/mo). Without carrying an additional card for supermarkets, the Ink card is the best for me.


Just be careful of getting caught. They won't know for sure, but they can close out your account (and all over your other accounts) at any time if they think you're abusing it.

ironfist99 said:   pjws3 said:   echip said:   Don't forget to factor in the 6% on gift cards at supermarket for the Blue Cash Preferred card.

do gift cards at supermarkets qualify for the 6% with this card?

Absolutely not. Whenever you buy a gift card at a grocery store, the manager of the store calls your credit card company and informs them how much of your purchase was for gift cards. There is somewhat of a delay between when you make the purchase and when this information is reflected in your account. So the points may show up in your account fora brief period of time, but will be removed before you are able to cash them out.


. Seriously, I've had to call them to tell them it's really me at the grocery store trying to make a $5000 purchase and let the damn thing go through.

medialink said:   FYI, Costcos, WalMart, Targets, Sams Clubs.... are considered superstore or warehouse stores, so only 1% Cash Back. Too bad... Costco would have been great.

OK, maybe I'm ignorant, but what's stopping someone from purchasing Target gift cards at the supermarket?

Furthermore, buying gas cards (6% back vs 1%), airline cards (6% back vs 1%), hotel gift cards (6%), and so on??

Is there an activation fee for these gift cards that I'm missing?

Also if you stockpile these gift cards what are the possible reprecussions? Don't want an AMEX Financial Review...

has anyone ever got "caught" doing this?

hejustlaughs said:   samko said:   LocalMotion said:   ironfist99 said:   pjws3 said:   echip said:   Don't forget to factor in the 6% on gift cards at supermarket for the Blue Cash Preferred card.

do gift cards at supermarkets qualify for the 6% with this card?

Absolutely not. Whenever you buy a gift card at a grocery store, the manager of the store calls your credit card company and informs them how much of your purchase was for gift cards. There is somewhat of a delay between when you make the purchase and when this information is reflected in your account. So the points may show up in your account fora brief period of time, but will be removed before you are able to cash them out.


Huh?
ironfist99 is being sarcastic. There is no way the AMEX will know what you bought from the supermarket.

It appears this is the main benefit of this card. Use the card to buy GC for all the other retailers you usually shop at. Essentially, this gets you 6% off every place that the supermarket sells gift cards to. This often includes Amazon, eBay as well as generic visa and AMEX gift cards (which come with a fee).

I have a Chase Ink card which gives 3% for gas, restaurants, office supply, and hardware stores and 1% everywhere else (limit $2000/mo). Without carrying an additional card for supermarkets, the Ink card is the best for me.


Just be careful of getting caught. They won't know for sure, but they can close out your account (and all over your other accounts) at any time if they think you're abusing it.

Signed up for it. Lets see if I get one. 70k HHI, 745 credit rating according to creditkarma
FWIW, I only have one other CC. It's an 8 year old MasterCard from my university's credit union (no Cash Back). No late fees.

samko said:   LocalMotion said:   ironfist99 said:   pjws3 said:   echip said:   Don't forget to factor in the 6% on gift cards at supermarket for the Blue Cash Preferred card.

do gift cards at supermarkets qualify for the 6% with this card?

Absolutely not. Whenever you buy a gift card at a grocery store, the manager of the store calls your credit card company and informs them how much of your purchase was for gift cards. There is somewhat of a delay between when you make the purchase and when this information is reflected in your account. So the points may show up in your account fora brief period of time, but will be removed before you are able to cash them out.


Huh?
ironfist99 is being sarcastic. There is no way the AMEX will know what you bought from the supermarket.

It appears this is the main benefit of this card. Use the card to buy GC for all the other retailers you usually shop at. Essentially, this gets you 6% off every place that the supermarket sells gift cards to. This often includes Amazon, eBay as well as generic visa and AMEX gift cards (which come with a fee).

I have a Chase Ink card which gives 3% for gas, restaurants, office supply, and hardware stores and 1% everywhere else (limit $2000/mo). Without carrying an additional card for supermarkets, the Ink card is the best for me.


Just want everyone to know that this is not true.

Quote from AMEX:

"Unlimited Cash Back for all your purchases-6% Cash Back at supermarkets..."

Word to take into account from above is all.

"Been there and done that!"

whatsthisbutton4 said:   has anyone ever got "caught" doing this?

One person in this thread claimed to have a friend who did:

http://www.fatwallet.com/forums/finance/1091420/

I wouldn't doubt it, AMEX catches people for the wrong reasons sometimes. Your large spending triggers a FR, your account goes across from eyes that realizes what you're doing and next thing you know all your accounts are closed and you're banned for life.

KayK said:   Signed up for it. Lets see if I get one. 70k HHI, 745 credit rating according to creditkarma
FWIW, I only have one other CC. It's an 8 year old MasterCard from my university's credit union (no Cash Back). No late fees.


Only 2 CC's?

smovva said:   Does FreshDirect count as a supermarket for this purpose?

that's what i'm worried.

thanks, upgraded my old blue card that I never used

.

I admit that i'd prolly be first in line to buy the gc's to get the 6%, but if you're using the bought gc's for anything other than turning directly into cash or paying bills, you'll be losing valuable cc benefits of items purchased with the cc. theft, being able to charge back something you can't work out with a seller, doubling manufacturers warranty, getting refunded the difference if something goes on sale after u bought it....etc... you all know what i mean...

If I ever got a call about gift card purchases.. I'd just say I buy them to donate to the local churches food pantry in lieu of cash.. since I can't be sure what the cash is being spent on...

WantTheBest said:   I admit that i'd prolly be first in line to buy the gc's to get the 6%, but if you're using the bought gc's for anything other than turning directly into cash or paying bills, you'll be losing valuable cc benefits of items purchased with the cc. theft, being able to charge back something you can't work out with a seller, doubling manufacturers warranty, getting refunded the difference if something goes on sale after u bought it....etc... you all know what i mean...

You cannot buy GC's from supermarkets- such as AMEX, Citi, etc- without paying a charge. Why? They are NOT GG's per se. Amazon, BB, etc. does not carry that charge as they are specific to whom the GC is denoted. In other words, if you buy a Amazon GC, you ONLY can use it at Amazon.

AMEX isn't stupid. Neither of these new cards holds a candle to Blue Cash for those who hit the $6500 tier early in their anniversary year. I have NO interest in converting my existing card to one of these inferior products. 5% on groceries,fuel,and drugstores works for me. I use my FIA 2% CashBack card for everything else.

sayhey said:   AMEX isn't stupid. Neither of these new cards holds a candle to Blue Cash for those who hit the $6500 tier early in their anniversary year. I have NO interest in converting my existing card to one of these inferior products. 5% on groceries,fuel,and drugstores works for me. I use my FIA 2% CashBack card for everything else.

It IS a good deal if you don't spend enough to get past the $6500 each year like me...and don't want to pay an annual fee then the new one without the annual fee is a good way to go as compared to Chase Freedom with the 5% but rotating...with my Freedom i only get the opportunity to get 5% for 3 months out of the year on supermarkets...with this i would get 3% year round...

I don't know if they will convert me though at this time, i got the standard Blue (you know with the points instead of cash) about 3 months ago and though i would LOVE to switch it over to this, i suspect they will tell me that my account is too new to do that...

I'll try calling tomorrow...but if anyone has the answer on that i would love to know in the meantime...

LocalMotion said:   WantTheBest said:   I admit that i'd prolly be first in line to buy the gc's to get the 6%, but if you're using the bought gc's for anything other than turning directly into cash or paying bills, you'll be losing valuable cc benefits of items purchased with the cc. theft, being able to charge back something you can't work out with a seller, doubling manufacturers warranty, getting refunded the difference if something goes on sale after u bought it....etc... you all know what i mean...

You cannot buy GC's from supermarkets- such as AMEX, Citi, etc- without paying a charge. Why? They are NOT GG's per se. Amazon, BB, etc. does not carry that charge as they are specific to whom the GC is denoted. In other words, if you buy a Amazon GC, you ONLY can use it at Amazon.


Thanks captain obvious. And even still, 6% of 500 is still > than the purchase fee for a 500 dollar visa GC.

It looks like they are no longer offering the Blue Cash with the $6500 tier.

6% on groceries looks mighty good.

It says 6% supermarket. I tried to search but didn't get any conclusive answer on what constitutes a supermarket.

For example, Costco, WalMart, Target do not qualify. Does safeway qualify?

I believe Target counts as a department store, so that would be 2% back with the Everyday and 3% back with the Preferred card.

safeway should count as a supermarket.

Take another look at terms and conditions 3pts not 3%



3 points for every full £1 you spend in major Supermarkets up to £500 per month1

2 points for every full £1 you spend in leading Department Stores

1 point for virtually every full £1 you spend everywhere else

Earn points which you can redeem for handy gift vouchers 5,000 points = £25 gift voucher

Earn up to 18,000 bonus points (thatís £90 worth of gift vouchers) when you spend £500 each month for your first 3 months2

Introductory Offer: 0% on all new purchases for six months3

Earn points even faster, with Supplementary Cards at no additional cost for family and friends

24-hour customer service

No annual fee

leedsutd67 said:   Take another look at terms and conditions 3pts not 3%



3 points for every full £1 you spend in major Supermarkets up to £500 per month1

2 points for every full £1 you spend in leading Department Stores

1 point for virtually every full £1 you spend everywhere else

Earn points which you can redeem for handy gift vouchers 5,000 points = £25 gift voucher

Earn up to 18,000 bonus points (thatís £90 worth of gift vouchers) when you spend £500 each month for your first 3 months2

Introductory Offer: 0% on all new purchases for six months3

Earn points even faster, with Supplementary Cards at no additional cost for family and friends

24-hour customer service

No annual fee

Huh? That looks like a completely different card. I do not believe the card we are discussing is available in the UK. From a quick search, it looks like you copied the terms of the Express Rewards Credit Card available in the UK.

sayhey said:   Neither of these new cards holds a candle to Blue Cash for those who hit the $6500 tier early in their anniversary year.

But for those who don't hit the $6500 tier early in their anniversary year, or those who don't hit $6500 at all--like me--these cards are a vast improvement.

Seriously, ever since getting my (ex)Schwab card, I've used my Blue Cash card two or three times a year, making a purchase for a dollar or two each time, just to keep the card active. Now, I'll be making all my supermarket purchases on this card, and will see a significant increase in my annual Cash Back. So, for me at least, this is a good thing.

question for those upgrading from old blue or blue cash... hard pull, soft pull, or neither?

MDfive21 said:   question for those upgrading from old blue or blue cash... hard pull, soft pull, or neither?

In their quest for excellent customer service, Experian won't allow me access to my credit reports to check on the soft pull but according to USAA's pull last night, I did not get a hard pull on the upgrade from the old Blue Cash to Blue Cash Preferred.

How easy/difficult is it to get the annual fee waived on these cards?

Argyll said:   It looks like they are no longer offering the Blue Cash with the $6500 tier.

6% on groceries looks mighty good.


It's simple math. $6500 spend with 0 CashBack is equivalent to $130 loss on a 2% CashBack credit card (Schwab, Household, etc.). Now AMEX offers you 6% CashBack (instead of old 5%) with only $75 annual fee. So what is better 5% for $130, or 6% for $75?

VagrTiger said:   Argyll said:   It looks like they are no longer offering the Blue Cash with the $6500 tier.

6% on groceries looks mighty good.


It's simple math. $6500 spend with 0 CashBack is equivalent to $130 loss on a 2% CashBack credit card (Schwab, Household, etc.). Now AMEX offers you 6% CashBack (instead of old 5%) with only $75 annual fee. So what is better 5% for $130, or 6% for $75?


Depends on your other spending. Going from 5% to 6% on groceries and getting rid of the tier is nice, but going from 5% to 3% on gas and 1.25% to 1% on everything else takes a pretty big hit. I did the math and for me the original blue cash is better, but it will depend on each persons spending habits. It's easy enough to do the math if you go online and look at your last anniversary statement. It's all broken down for you other than department stores.

How much do you spend on grocery store gift cards a year? $75/.06 = $1250 spending on grocery gift cards to offset annual fee.

It looks like VagrTiger's underlying assumption was another 2% card, so the 1 vs 1.25% change on non-bonus purchases is irrelevant. Assuming you have a 2% card and a gas card that does better than 3% (PenFed or the like), it's a significant upgrade to get the new card.

Made the mistake of not calling and upgrading my standard blue... now I have to wait for them to mail me the decision.

I just started using this card 2 months ago prior to purchasing some big household items and daily stuff.. I have almost hit the $6500 tier already. My gut instinct is that if you attempt to use this card as your primary almost everywhere you go -- i.e. have no problem hitting $6500 early in the year -- The original Blue Cash is better.

For people that use this card as their primary, I would stay with the original as long as you can. For casual users of AMEX, I would switch to Everyday.

Chgoman said:   VagrTiger said:   Argyll said:   It looks like they are no longer offering the Blue Cash with the $6500 tier.

6% on groceries looks mighty good.


It's simple math. $6500 spend with 0 CashBack is equivalent to $130 loss on a 2% CashBack credit card (Schwab, Household, etc.). Now AMEX offers you 6% CashBack (instead of old 5%) with only $75 annual fee. So what is better 5% for $130, or 6% for $75?


Depends on your other spending. Going from 5% to 6% on groceries and getting rid of the tier is nice, but going from 5% to 3% on gas and 1.25% to 1% on everything else takes a pretty big hit. I did the math and for me the original blue cash is better, but it will depend on each persons spending habits. It's easy enough to do the math if you go online and look at your last anniversary statement. It's all broken down for you other than department stores.


Too much trouble buying gift cards to your favorite gas station? Perhaps I'm used to living in the land of Kroger, and therefore only having two stations I would buy gas from. (Kroger / Shell)

"...We were not able to process your application within 60 seconds in order to provide you with an instant decision. Once your application is processed, we will notify you of your application status by e-mail using the e-mail address you provided."

WTF???

So sweet to have a 5%+ card lined up after AARP expires.

According to some of the blogs there is a $75 refer-a-friend bonus for the preferred card and a $100 sign-up bonus as well. Can anyone confirm?

kjl1977 said:   How easy/difficult is it to get the annual fee waived on these cards?
Depends how much Am3x likes you when you call and threaten to cancel...

bargainhunter3 said:   How much do you spend on grocery store gift cards a year? $75/.06 = $1250 spending on grocery gift cards to offset annual fee.


No, because you can get 3% at grocery stores with the free card. So $75/(.06-.03) = $2500 is the spend on grocery you need to breakeven on the annual fee.

LocalMotion said:   WantTheBest said:   I admit that i'd prolly be first in line to buy the gc's to get the 6%, but if you're using the bought gc's for anything other than turning directly into cash or paying bills, you'll be losing valuable cc benefits of items purchased with the cc. theft, being able to charge back something you can't work out with a seller, doubling manufacturers warranty, getting refunded the difference if something goes on sale after u bought it....etc... you all know what i mean...

You cannot buy GC's from supermarkets- such as AMEX, Citi, etc- without paying a charge. Why? They are NOT GG's per se. Amazon, BB, etc. does not carry that charge as they are specific to whom the GC is denoted. In other words, if you buy a Amazon GC, you ONLY can use it at Amazon.


OK for the red!

We shall see...

Good afternoon OOOOOO,

I received your email regarding your request to convert your current Blue Cash Card to a Blue Cash Everyday Card and I will be delighted to assist you!

Congratulations! Your request for the new Blue Cash Everyday Card product change has been approved. The Product Change will be effective on 04/28/2011.

You will receive details regarding the change in terms by mail.

Your current Card can continue to be used until the new Card is received. Your new Card will be received within 7-10 business days.

It was my pleasure to assist you. We appreciate your Cardmembership since 2000 and we look forward to serving you in the future.
Sincerely, OOOOOOO Email Servicing Team American Express Interactive Services

Datapoint: Applied for Blue Cash Preferred card last night and got approved instantly. 758 credit score, 70k HHI, one other AMEX card (old blue cash). I opted for a new card for the $100 bonus.

Did a quick calculation: Even after paying the annual fee (which I NEVER did before), I will end up with around $250 more in CashBack than Fidelity/ex-Schawb card.

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