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October 25, 2012

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I'm keeping it. Can't beat 4.75% back on groceries and 3% back on gas in a single card. This is a better deal for my family than 5% gas and 2% groceries offered by the US Bank card. Note that the new terms actually go into effect on your anniversary date after January 15, 2013. If your anniversary date (ie date the annual fee is charged) is later in the year you can keep enjoying the 6% on groceries without a cap until that time.

We don't have this card but for those who did, I would see no reason to stop using it as you certainly aren't going to find a comparable cash back rate on grocery items. I agree, they were probably getting whacked by the people that were using the gift card loophole. In a way, that's a positive that they closed it, because otherwise they may have had to lower the rate or cancel the grocery benefit altogether, which would have punished those who use it just for their groceries. This way, it lets people still take advantage of the great opportunity.

Yeah, I'll keep it. I'll also make sure to load up on Amazon.com gift cards between now and the end of the year.

re: 08graduate

To be clear, the uncapped 6% back doesn't expire at the end of the year, nor does it necessarily expire on January 15. The cap goes into place for your account starting on your next anniversary date after January 15, 2013.

Does it classify Super Target as a grocery store?

Freedom Fighter, thanks for the comment, I noticed the "when your account renews" line, but didn't really understand it. I'll check with customer service to make sure, but this is good news if so, gives us another 8 months to stock on Amazon cards:-)

The card is still a very good deal, but our family spends 9-10k a year on groceries and mostly in traditional supermarkets - no Costco, no Target, very little WalMart, so it will affect us.

I just signed up for the Priceline card, 2% all around, and will use it for the "overflow" once we are above 6k

Ron --

The only relieble way to find out is to get the card and do a test charge. Details here:

http://www.freemoneyfinance.com/2011/10/you-must-do-a-test-charge.html

It will remain in my arsenal but I'll now use the Chase Freedom 5% bonus on groceries when eligible (I hadn't bothered before). I may also shift more of my spending to Costco, which we've already been doing anyway.

I like the Blue card myself and have been using it as my preferred card for years. I never really thought about using it to buy gift cards at the supermarket before. Even though the terms will change, it's still a pretty good deal. Thanks for the tip.

Seriously- the time and energy you people use trying to game the credit card roulette. You must have a bunch of free time in your hands. Stick with one or two cards that have some decent rewards and do something more productive.

Sorry, KJ, I don't see anyone here talking about using five or six different credit cards in an attempt to maximize rewards, nor do I hear anyone complaining about how much time such a strategy requires. In fact, thanks to the Blue Cash Preferred, my family is down to two cards in regular use, a number you think is optimal. Obviously, we all have a lot of time on our hands if we're posting comments on the internet.

6K limit? I consider that quite low especially, if you're buying lots of produce.

Well, it was good while it lasted. We will continue to use the card, but we spend way more that $6000 on our groceries where we live. Hopefully some 5% cards will be offering up supermarkets in their rotating categories soon.

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