Posted by Chuck on May 17, 2015
Credit Card Review

Published on May 17th, 2015 | by Chuck

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New BP Visa Credit Card Review (Potential 5x Everywhere for 90 Days + 3x Grocery, Travel, Dining)

We’ve reported that the BP credit card is switching over from being issued by Chase to being issued by Synchrony. The new Synchrony-issued card was slated to go live on May 18, 2015, but it’s already available for applications. A few people have already been approved for the card.

They’ve also improved the rewards program of the card. Let’s take a look at the new version.

Overview

Direct Link

There are three versions of the credit card:

  • BP VISA CREDIT CARD WITH DRIVER REWARDS
  • BP VISA SIGNATURE CREDIT CARD WITH DRIVER REWARDS
  • BP CREDIT CARD WITH DRIVER REWARDS

The first and second versions are credit cards which can be used anywhere, the only difference being that one is a Visa Signature and one is an ordinary Visa. The third option will only be able to be used at BP and nowhere else.

BP Visa Card Rewards

  • For every $100 spent at BP get 25¢ off per gallon, up to 20 gallons. Value: $5 with 20-gallon fill-up.
  • For every $100 spent on groceries, dining, and travel get 15¢ off per gallon, up to 20 gallons. Value: $3 with 20-gallon fill-up.
  • For every $100 spent anywhere else (aside from non-BP gas stations) get 5¢ off per gallon, up to 20 gallons. Value: $1 with 20-gallon fill-up.

Signup Bonus: For the first 90 days you’ll get 25¢ off per gallon (up to 20 gallons) for every $100 spent anywhere (aside from non-BP gas stations). Value: $5 with 20-gallon fill-up. The old card had a similar signup bonus but only for 60 days.

BP Credit Card Rewards

  • For every $100 spent at BP get 10¢ off per gallon, up to 20 gallons. Value: $2 with 20-gallon fill-up.

Additional Details

  • Rewards expire after 1 year.
  • 20-gallon max must be done in one fill-up.
  • It is possible to redeem rewards for a statement credit at the rate of 15 times the value in cents. For example, if you have a 10¢ discount available, you can get a $1.50 statement credit. This option will give you three-quarters of the total value that you can get by doing a 20-gallon fill-up. By filling up 20-gallons you can get a $2 value, while with the statement credit option you’ll only get a $1.50 value. It could still make sense for someone with a small tank.
  • IMPORTANT: The rewards earned at the pump on the credit card replace the regular BP rewards earned without the credit card (see below).
  • You’ll always pay a minimum of 10.9 cents per gallon. The remaining rewards will remain for future use.
  • When you swipe your BP credit card at the pump, the system will ask you if you want to use your rewards or save them for later.

BP Driver’s Rewards

BP has also improved their non-credit card rewards program. The program now offers 10¢ off 20 gallons, after having made $100 in BP gas purchases.

There’s also a one-time bonus of 15¢ off per gallon (max 20 gallons) which can be earned by spending $300 in a calendar year.

We reported this a while back and the changes are now taking effect. [The old program gave a 5¢ per gallon. We detailed the old program here.]

Our Verdict

The fact that the card is now issued by Synchrony would probably be a positive for most people since they’re usually easy to get approved with. Also, we can leave Chase for other credit card applications.

Let’s take a look at the value we can get from the Visa card option in the gas category, the grocery/travel/dining category and in the everyday category for the first 90 days.

Gas 

The maximum value possible to get with the BP Visa card is possibly a 5% value on BP gas purchases since you can get $5 back after $100 in purchases.

There are a few things to note, however:

  • The most basic thing to make this card worthwhile would be if your local BP stations are competitively priced.
  • You may already have a credit card which earns a bonus rate at the pump.
  • If your tank doesn’t hold 20 gallons, you won’t be able to maximize the value with this card.

Being that the credit card rewards replace the non-credit card rewards program, you’re really just getting an additional 15¢ per gallon or 3%. There are lots of cards which can get you 3% back on gas without dealing with the confusing BP program.

Verdict: Probably not worthwhile for gas.

Grocery, Travel, Dining 

An interesting part of this card is the bonus category for groceries, travel, and dining. This card could possibly be a 3% card in those areas. For every $100 in spend you can get $3 off your next fill-up. Again, this will only work if your BP stations are competitively prices and your tank holds 20 gallons. If you’d redeem for a statement credit you end up losing 25% and it would only be a 2.25% earning rate.

Of course, those categories are heavily bonused categories on other credit cards, but still…

Verdict: Interesting.

Everyday Purchases

We definitely won’t recommend this card for everyday purchases since the max you’ll get here is 1% and you can do much better, see Best Credit Cards For Every Day Purchases.

Verdict: Not recommended.

Signup Bonus 

The signup bonus of 25¢ per $100 of spend anywhere is also very interesting. If you can max out the value of the gas rewards, this would mean a 5% back card on all purchases for 90 days, aside from non-BP gas stations. Even when redeemed as a statement credit you can end up with 3.75% everywhere for 90 days which is interesting.

Verdict: Very interesting.

Final Thoughts

All-in-all it seems like they actually rolled out a card which is something to think about. It is much more confusing than an ordinary point-earning credit card and there may be other caveats/reasons why the card doesn’t represent a real 3%/5% value on the bonus categories.

Being that there aren’t a whole lot of 5x options remaining, this could be an interesting new way of getting 5% back everywhere for 90 days. You’ll have a year to use up the gas rewards earned in those 90 days.

The card can make sense especially for someone who always uses BP since redeeming rewards won’t be a hassle for such a person.



32 Responses to New BP Visa Credit Card Review (Potential 5x Everywhere for 90 Days + 3x Grocery, Travel, Dining)

  1. thanks for posting…I think too many caveats with this card…esp for #mfgspend . Might be a good starter card for those with 20 gallon tanks and getting into the M&P world 🙂

  2. Paul says:

    Synchrony cards typically have low CL, so not worth it to MS for most people. And the rewards program is too confusing…I’ll pass on this one.

    You can get 3x MRs at gas on a few Amex cards, which is the equivalent of 5% (or better), so I don’t see why anyone would bother with this silly card.

    • Chuck Sithe says:

      Yeah, the main selling point we mentioned is the 5% back everywhere for 90 days. It’s definitely confusing, but still it’s at least something interesting…

  3. john says:

    At 5% off for max spend of 1k, you make 50 dollars a month or 150 over 90 days.

    not worth it. Open a citi account and fund it with a 2% credit cards credit line. Even if you have small CL of 10k, thats still 200 in less than a month. Best part no Hard Pull.

  4. miguel dominguez says:

    how and where can I pay may BP gas card since is not thru Chase any longer…I have a bill due on the 19 of june……

  5. Jim says:

    I have the same problem I contacted bp and synchrony both of them are giving out bogus information. One said to go to mybpcreditcard.com but my computer at work would not open that site you might try that.

    Jim

  6. Ron says:

    I’ve been trying to open the new “mybpcreditcard.com” but can’t seem to find it.

    • DENISE SANDY says:

      need to setup online payment

    • Carlos Parscal says:

      It is a website, if you are one of the BP Chase card people who’s account was closed and Synchrony Bank didn’t buy your account, you are now without a credit card.

    • Carlos Parscal says:

      website: onlinecreditcenter6.com. they have changed this since yesterday Jun 11, I wouldn’t give that bank the time of day. Both them and Chase are giving out bogus info.

  7. DENISE SANDY says:

    the web site is asking for the password and user ID

  8. Carlos Parscal says:

    Synchrony bank purchased BP Chase customers from them, not all were purchased like myself, so I am without a credit card overseas. All the information on the change over was misleading. Just my opinion.

  9. Brandon says:

    Just got my card in the mail today. Is the deal about redeeming points on the 22nd of each month still valid? I used to buy gas on the 22nd and get double credit. So if I had a $1 discount on gas, I’d get $2/gallon off. I bought gas in December for 10.9 cents per gallon – filled up for about $2. (I try to time it so that I need 19 gallons, and will often take my gas can with me, to feed the lawnmower).

  10. Carolyn heyward says:

    What is going on. I cannot find the wedsite to pay bill. I hope will not affect my credit rating

  11. Jim says:

    its mybpcreditcard.com Carolyn

  12. wm says:

    I was told only way to get remaining rewards points was credit on my Chase card account. Then also told by “off-shore-expert”, future best use of rewards on new card is definitely credit to account which I find mistifying since rewards that way result in 1.5%, and gas way = 2%. Misleading to say the least. I save rewards for annual “snowbird” trip to Fla panhandle. Isn’t this the way to go? Harder to find bp stations, and harder, competitive since they sold a whole bunch of stations. Think I’m looking elsewhere. Any suggestions?

  13. Bob McConnell says:

    The new card seems to me to be a giant scam. they took me off auto pay and then charged me.
    I contacted the company. You cannot talk to a customer service person without being charged $10. It really seems a little unbelievable.

  14. Maitri Meyer says:

    Synchrony is a very difficult credit card company to get any service from. My daughter took the card on vacation across country. They froze the account: Wouldn’t let me in to my account online and the card was denied at BP. I called to clear it and they couldn’t authenticate me because my cell phone was not on the account, they can’t send an email to authenticate and my home voice mail wasn’t working. They asked me to send a copy of a utility bill and A SOCIAL SECURITY NUMBER to their address for authentification. THEN they could talk with me to confirm if recent transactions were mine and turn my card back on. I was on the phone for 30 minutes and transferred to a few people and finally said: SEND ME A PAPER STATEMENT OF ALL TRANSACTIONS SINCE MY LAST PAYMENT. I will mail a check for what I owe as long as there is nothing on their that is not mine and then I will call to CANCEL THE ACCOUNT!

    Ridiculous!

  15. oldfish says:

    It could be a good one depending on timing and location. Synchrony coded the purchase of AAA Travelmoney card as purchase instead of cash advance and there was a no-fee promotion in July and August for those in Carolinas. I got the BP credit card in late June. Enough said ……

  16. Kristin says:

    I’ve had a BP visa card for 20 years–have gone through several bank changes, but the one this spring is the definition of disaster! In addition to “losing” my payment during the switch, these are a few of the top customer service fails I’ve experienced in the past 6mo:
    1) denied payment on 3 occasions: One was legitimate fraud. One was at a Dick’s Sporting Goods store. They though it was a purchase in Columbia the country and not the Columbia 5 miles from my house that i shop at every few weeks. One was because I traveled out of state. I was told that i should call them every time i leave the state. HUH?
    2) I’ve had fraud or possible fraud 3 times in the last six months. It takes them 5 business days to send a new card. If you happen to be away from home, they cannot figure out how to get the card to you without changing your billing address to your travel address.
    3) The “customer service” number on the back of the card is actually the claims department. I’ve had several claims dept people vigorously inform me of this. In fact, one person told me it wasn’t his job to provide customer service. HUH?!?!?!?
    4) The first person to answer the phone is poorly trained and has no ability to deviate from a written script. I’ve called so many times i now politely ask for their manager.
    They don’t care if they lose customers, so I’m done with this card.

  17. Laney says:

    some one got hold of my card and was purchasing flowers, etc. Had to be from someone at all of the weird looking BP stations. Cancelling card ASAP of new one’s arrival and hard copy of all cahrge. Can not access online. The card is not worth it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  18. Karen King says:

    The website is HORRIBLE! I am canceling NOW. I can’t get in to pay my bill and I can’t find anyone to TALK TO ME!!!!! ARGGGGGGGG!

  19. Bobby B says:

    My interest rate went from 14% to 24% after the switch last year. My FICO score is 775. Called and they said everyone’s rate went up. Lots better deals out there if you carry a balance.

    • Greg Irby says:

      They told me the reason for such high rates is to discourage people from carrying a balance. We all know this is a lie. This bank cannot be trusted. They are using the law and the legal chargeable interests for their benefit. I would run from SYNCHRONY bank cards. They cannot tell the truth.

  20. Laura Glaude says:

    Which other card would you suggest, other than BP?

  21. Greg Irby says:

    We have had a BP card for several years. While on vacation this week we discovered that the $40.00 payment was processed as a $4000.00 payment. We have spent several hours on the phone trying to get this rectified and EVERYONE that we have spoken to at SYNCHRONY BANK has told us something different (in short lies). They even went so far as to tell me that they discourage carrying a balance on their cards and that is why they charge such high interest rates (and we all know that’s the truth too LOL).

    When I return home I will pay off all my SYNCHRONY BANK credit cards and will never do credit business with any company that uses their services. This Bank IS NOT to be TRUSTED. They cannot tell the truth.

  22. Benny says:

    BP has denied to many charges for us. Its embarrassing. Will stop using for this reason.

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