Citi Custom Cash vs. AMEX Blue Cash Preferred | BEST Cashback Card?
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- เผยแพร่เมื่อ 22 พ.ค. 2024
- The Citi Custom Cash card was revolutionary when it came out since it offered automatic 5% cash back on your top monthly spend category without selecting, enrolling, or changing anything. I had been using the AMEX Blue Cash Preferred for my grocery spending up until this card came out in 2021. However, once the Citi Custom Cash card came out, I decided to retire this card. In this video, I’ll explain why I think the AMEX Blue Cash Preferred is obsolete, and include an AMEX BPC as well as a Citi Custom Cash Card review.
Although the AMEX Blue Cash Preferred offers 6% cash back on groceries (with a limit of $6,000 per year), unfortunately, it has this $95 annual fee, which will eat into your overall earnings. The Citi Custom Cash credit card offers 5% cash back for that same $500 in grocery spending per month, with only 1% lower than the BCP and no annual fee.
I do want to point out that I think the AMEX Blue Cash Preferred can still be a great go-to card for a lot of people. Since it covers a lot of high-yield categories such as groceries, streaming services, gas, and transit, it may be an excellent card for some of you that want just one card that can get you great cash back on a lot of common spend categories with an easy cash back redemption system.
Overall, both the Citi Custom Cash and the AMEX Blue Cash Preferred cards are both excellent cards to use. But it’s important to realize that depending on your specific situation, analyzing your expenses and doing the math is the best way to see which card makes sense for you.
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Chapters:
00:00 Intro
01:27 Overview of Both Cards
03:31 Comparison Using Grocery Category
04:33 Comparison Using All Categories
06:43 Why the AMEX BCP is Obsolete
08:26 Outro
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Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice. This video, and any ideas presented in it, are opinions and are provided for entertainment purposes only. Please do your own research and consult your own financial, tax, or legal professional for specific advice.
#citicustomcash, #amexbcp, #creditcards
This was a great breakdown! I love how you included your actual numbers when explaining the difference between the two. no if you are someone looking for optimization in your spend and have multiple credit cards, then the Citi Custom Cash is the way to go. I pair that one with the Amex Gold card, and Chase Freedom Unlimited for the bulk of my spending and then use my Sapphire Preferred for certain purchases here and there (I mainly have it for transfer partners) and this setup has been serving me well!
Thanks Spencer! Yeah, the Citi Custom Cash is definitely best used with other cards as part of a setup. Speaking of, you got an awesome setup going on there covering UR, MR, and TY points systems! It’s awesome that you’re taking advantage of all the major rewards programs and diversifying your transfer partner options 👍!
@@TheCreditFrog Thank you! That's the goal!!
Your videos are worth watching for the 2nd time.... thanks ~~~
Thanks Yasin! Yeah, I wanted to go into more detail on this topic. Glad you enjoyed it!
Thank you for this!!!
You're welcome!!
Always love your videos and how you are so polite about different views. I think that citi custom is better if you are buying for just yourself. bcp is better if you have a large family that can offset the annual fee in groceries and streaming.
Thanks Justin! Yeah, I value all opinions since there are so many different situations to use these credit cards, and I definitely agree! The BCP has a lot more categories that you can use for that 6% multiplier, while the Citi Custom Cash is better if it's just focused on a single category.
@@TheCreditFrog There's also a Disney+ $7 monthly credit, so if you subscribe to that, BCP is $11/year lol
Great point! Those statement credits can go a long way if you can value them at the full amount!
Gotta still roll with the citi custom cash as its a hassle free credit card and that's how I like it. I don't want to personally worry about which credit cards earn what type of cash back so the citi custom cash is a definite NEED so i dont have to worry about one of those categories! Great Video Stan!
Thanks Eric! Yeah, the Citi Custom Cash is so powerful for that reason. It’s versatility is SO clutch and can roll with whatever your budget demands! I also don’t like having to worry about which credit card earns what as well. Simplicity is key!
@@TheCreditFrog What's the streaming service multiplier in between the Blue Cash Preferred in comparison to the Custom Cash, in other words, which streaming services are eligible for cash back?
@@isao_the_2nd There is a list that you can find at americanexpress.com/us/rewards-info/retail.html as well as at the Citi Custom Cash application page under additional information. I looked through them just now to simplify it for you.
The obvious ones are covered by both, but AMEX has AppleTV+, Audible, Hulu, iHeartRadio, Paramount+, and Peacock while Citi does not. Citi as CBS All Access, Starz, and Vudu, which are not included with AMEX.
Both are great, but if I had to choose one it will be AMEX Blue Cash Preferred, with Citi Custom Cash card you transfer your points to Citi Premier.
Hey Tariq! Yes, AMEX BCP also has some great perks as well. It depends on your own situation on which card would be best!
I really enjoy Amex Offers another perk of having BCP & protections Citi’s cards do not offer or stripped away over the years.
I agree Neno! AMEX Offers are amazing and can definitely add loads of value to the BCP.
Good sharing 😀 very beautiful place ❤ 🍹🍹
Thanks!
The AMEX BCP has a slightly better SUB now with $350 cash back for $3,000 spend in the first 6 months. I recorded this video before that so make sure you get the new SUB if you're interested!!
Do you prefer the Citi Custom Cash or AMEX BCP? Let me know in the comments below! 👇
Imo CCC is the clear winner. Yes, no protection sucks but who needs protection for groceries lol. 5.5x back (also own rewards+) has a floor value of 5.5% back for cash and it has higher value when coupled with Citi premier. The AMEX cash back card is only good when couple with AMEX offers, which to me makes the updated BCE better than the current BCP for online shopping even if both have no AF
Definitely agree with you here Yan! Although the BCP can be a good card for those who make use of the other categories, if we are just speaking about groceries, there are much better cards out there as you mentioned that have basically the same multiplier with no annual fee!
The BCP definitely is a better option if you want a card that can catch more categories (should never really use the Citi Custom Cash for more than just one dedicated category), however I would definitely go with the Citi Custom Cash for most people due to not having that fee and still having a 5x category. Great video Stan!
Thanks Matt! I totally agree. The BCP has its uses and can be good for some, but overall, I think the Citi Custom Cash offers the better value!
BCP only works on some grocery stores and you will not get 6% if you buy groceries from Walmart, target and king Soopers.
Yes, that is true! You definitely have to be mindful of what stores codes as groceries and what doesn't. I think Walmart and Target are pretty well known as ones that don't code as groceries, and I'm not familiar with King Soopers, but that's great to know. Thanks for the tip!
Can I have a Citi Custom Cash Card and Citi Double Cash Card both at the same time?
Yes you can! It's the Citi Duo and a great no annual fee credit card setup!
You didn’t get a retention offer to keep BCP?
I didn't ask for one. As this is my oldest card, I decided to downgrade it to the no-annual-fee Cash Magnet card, and it will stay like that hopefully forever or until the BCP is worth it again.
Are you trolling me with that smile during pauses b/t sentences? Lol..... I get what you're saying, but I definitely prefer the blue cash. For me 6% in streaming per year will more than make up the $35 difference. Then add 3% on my gas spend and I'm really coming ahead. That's just my situation though, I feel like what you came up with is probably the best for those people.
Haha! I'm just trying to keep the mood light! Yeah, I totally get you. The BCP is an amazing card if you take advantage of all the multipliers. I made this video putting the BCP head-to-head with the CCC on the grocery category only since the CCC is only really a one-category card. I'm glad the BCP is getting you great value!
Too good hello you.
Hello and thank you!
Well, once again I have to disagree with ur calculations here. A more proper accounting would factor in the Amex BCP SB, especially for the 1st 2 yrs - winning just on that. 2nd is the Amex offers, where ur very likely to get ur AF knocked off with just 1! Fix these holes, and BCP is clearly the superior card. For the most part nice job on this🙂
Hey man, thanks for your feedback! Yes, there is $0 annual fee the first year which is pretty amazing and does propel the AMEX BCP out front in the first year for sure. The AMEX Offers do get you a bunch of good deals, but that also depends if you get good offers that match well with your spending habits. This just goes to show that credit cards are personal and there's no one best credit card as it will depend on your own personal situation and spending habits! The AMEX BCP is a great card - I had it for 14 years and loved using it during that time!
@@TheCreditFrog yes indeed, & the 2nd yr gets the win over the CCC because of the SB differential. Then there are the offers covering a broad range of products & services. But, if folks don't use them - oh well🙃
Sorry, I don’t share the hype for the CC. It’s a one trick pony and really only useful for one category.
No worries! That’s what’s great about credit cards - it’s all about what’s important to you! You’re totally right though! It truly is a one trick pony and works best combined with other cards.