The anniversary date on our AmEx Blue Cash rewards card is in December. That means that the rewards that we’ve accrued throughout the year will be paid out this month. Curious as to how we’ve been doing, I logged in to check…
As a reminder, this card pays 5% on “everyday” purchases (gas, groceries, and drugstores) and 1.25% (formerly 1.5%) on all other purchases once you reach $6500 in total purchases. Prior to that level, you’ll earn 1%/0.5% on the two different categories.
After logging in and poking around, I learned that we’ve cleared 1.93% in rewards over the past year. Not too shabby, but slightly below the 2% offered by the Charles Schwab reward card.
Should we switch to the Schwab Visa?
On the plus side, the Schwab card is a Visa, so it’s more widely accepted. It also pays out the rewards on a monthly basis, which is nice. The downside is that you have to open a Schwab account into which the rewards will be deposited.
I’ve heard rumors that the terms of the Schwab rewards will be changing, but that they’ll be grandfathering existing cardmembers in under the old reward structure. Because of this, I’m thinking of applying for the Schwab card just in case.