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When does a PC to a card with an AF make sense?
Main Post:
I currently have a 5% cash back card I'm using for my groceries (Citi Custom Cash) and a 3% card for gas (BofA Custom Cash). I am considering getting the Amex BCP card to use the 6% back on groceries, and switch the Citi Custom Cash to get %5 back on gas. However, the Amex BCP has a $95 AF (the first year is free, but thinking about long-term use, so can basically treat it like $95 AF long-term).
Current state Future state Groceries 5%, no AF 6%, $95 AF Gas 3%, no AF 5%, no AFI wanted to do the math correctly to calculate if this new card would be worth it. I think the logic is, as long as the +1% on groceries and the +2% on gas is greater than $95, then it makes sense, but I didn't know if there was a more accurate calculation to make.
Top Comment: To your title question, I think you've misunderstood what a PC is, as it doesn't seem relevant to your post. I'll come back to this below. To your post: I think the logic is, as long as the +1% on groceries and the +2% on gas is greater than $95, then it makes sense, Correct in the context of just these 3 cards, however what you really need to be doing is comparing all available options for new cards. Unless you spend a very large amount on the BCP's streaming category that you'll earn 6% on, you're better off keeping the CCC on groceries and focusing on a 5% gas card (see the List of Best Cashback Cards by Category linked in the sidebar), or getting a 2nd Citi Custom Cash by getting the Citi Strata Premier or AA Platinum and doing a downgrade, a.k.a. PC - product change, after 1 year. (Point being that a PC is when you change an existing card to a different credit card product issued by that same bank.)