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If you are responsible and pay your statement in full each month, it’s free money. My particular Amex card gives me 5% cash back on gas and groceries and has n
by Bluecobra 2y ago
If you are responsible and pay your statement in full each month, it’s free money. My particular Amex card gives me 5% cash back on gas and groceries and has no fees. This translates to ~$1,200 per year.
- TMWNN 2y agoWhich Amex card? The ones I've seen cap the total purchase amount for rewards for gas/groceries at a low enough level that the rewards max out at a few hundred a year. (Cash Magnet's cashback is universal and unlimited, but the 1.5% rate is less than Wells Fargo Active Cash's 2%.)
- Bluecobra 2y agoIt's just called "Blue Cash", not "Blue Cash Everyday" or "Blue Cash Preferred". It seems like they don't offer it to new applicants anymore. The only downside is that you have to spend $6,500 before the 5% cash back kicks in for groceries/drug stores/gas stations, though I usually hit that in a couple of months anyways. edit: more info here https://www.reddit.com/r/amex/comments/12r91y4/what_happened_to_the_blue_cash_card/ https://www.reddit.com/r/amex/comments/12r91y4/what_happened...
- xp84 2y agoI had that card almost 20 years ago, until Amex abruptly closed both that and my "Student" Amex Blue that had very few benefits. Their letter referenced that "something on my credit report" and apparently the one forgotten payment I'd had recently, to Macy's for $60 (forgot I had used the card) was an unforgivable sin, surely portending a bankruptcy filing in their view, I guess. I harbored a grudge over that for about 15 years, but finally got back on the Amex bandwagon with a Gold card a few years ago. 4 points per dollar on dining and groceries works out really well for me.