Cash Back Credit Card Benefits
Post subject: Cash Back Credit Card Benefits
Guest: legitimate user
Posted: Tue May 24, 2005 8:03 pm
I've looked into the highly advertised cash back cards like Amex Blue Cash and Citi's Dividend, but I keep reading and I can't find the serious catch in the fine print.
Ok, so Amex calculates your cash back based on your spending, and you won't get that advertised 5% back unless you spend a lot. Big deal that wholesale stores don't count as grocery stores and only get 1% instead of 5% back.
Citi just mails you a check once you gain $250 in cash back rewards? It just sounds too easy to me. Someone care to shed any light on this subject?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Post subject: Cash Back Credit Card Benefits
Posted: Tue May 24, 2005 10:45 pm
I'll give you the scoop on my Citi Pref Div a/c:
I earn 1% on purchases, 5% with select grocery/pharmacy. Only those stores registered with them get the bonus. (e.g. Trader Joe's purchases don't qualify for a bonus)
I can request a check for accumulated dividend dollars anytime my balance exceeds $50. It's a very simple online task (2 or 3 min. at most) and has worked flawlessly for me..
Note that some cards gradually increase dividend rates as you charge through the year. The first $x may only receive a .25% rebate, subsequent charges earn a higher rate. Read details carefully when you apply.
Guest: Dunbar
Post subject: Cash Back Credit Card Benefits
Posted: Thu May 26, 2005 10:48 pm
Only catch is the $300 a year cap, that and I only get 20-vs-30 days to pay compared to my plain-jane MBNA card. If you're a "deadbeat," how the CC companies refer to on-time payers, there is no catch. I think the CC companies see these everyday charges as a growth area. One so they can earn more interest with late-payers, and two because people tend to spend more when they're charging it. Citbank doesn't have to twist my arm to give me $300 a year
Guest: sammy262
Post subject: Cash Back Credit Card Benefits
Posted: Fri May 27, 2005 9:41 am
I agree with the other posts. Citi Dividend Platinum Select is the best rewards card out there if you pay your balance in full monthly and you are a megacharger. My wife and I each have one of these cards and have no trouble hitting our $300 limit on rebates. No annual fee, reasonable grace period, easy to navigate their website for account lookup, bill pay, etc.
We switched to this card from the GM Card which served us well. It pays 5% back on everything, but of course the rebate is only good towards a GM vehicle purchase or lease. Over the years we have gotten (in round numbers) $1700 off a GMC Jimmy, $2300 off A Chevy S-10, $1900 off a Buick Century, and $2600 off a Buick Rendezvous. And that's on top of whatever other rebates, discounts, etc are available or you can negotiate.
Also, this is the "old" GM card which is no longer available. Its structure for accumulation and redemption of rebates is superior to the "new" GM card. I think GM realized the "old" card was overly generous and scaled back with the "new' card.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Daniel
Post subject: Cash Back Credit Card Benefits
Posted: Sat May 28, 2005 11:53 am
The Citi Div card is nice but the $300 cap is a negative imo use it for the 5% deals once you hit the cap put it away.
Penfeds cash back card is worth looking at it.
1.25% cash back paid monthly with NO limit I am on track to make over $2000 this year on this card.
Guest: legitimate user
Post subject: Cash Back Credit Card Benefits
Posted: Sat May 28, 2005 12:20 pm
Interesting. I ran the numbers and I don't think hitting that cap should limit my rewards.
Anyone have any interesting information like this about Blue Cash?
Guest: Board Monitor
Post subject: Cash Back Credit Card Benefits
Posted: Mon May 30, 2005 9:10 am
Check out our consumer reviews section here:
http://www.cardratings.com/cardreviewfr.html
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: legitimate user
Posted: Tue May 24, 2005 8:03 pm
I've looked into the highly advertised cash back cards like Amex Blue Cash and Citi's Dividend, but I keep reading and I can't find the serious catch in the fine print.
Ok, so Amex calculates your cash back based on your spending, and you won't get that advertised 5% back unless you spend a lot. Big deal that wholesale stores don't count as grocery stores and only get 1% instead of 5% back.
Citi just mails you a check once you gain $250 in cash back rewards? It just sounds too easy to me. Someone care to shed any light on this subject?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hdporter
Post subject: Cash Back Credit Card Benefits
Posted: Tue May 24, 2005 10:45 pm
I'll give you the scoop on my Citi Pref Div a/c:
I earn 1% on purchases, 5% with select grocery/pharmacy. Only those stores registered with them get the bonus. (e.g. Trader Joe's purchases don't qualify for a bonus)
I can request a check for accumulated dividend dollars anytime my balance exceeds $50. It's a very simple online task (2 or 3 min. at most) and has worked flawlessly for me..
Note that some cards gradually increase dividend rates as you charge through the year. The first $x may only receive a .25% rebate, subsequent charges earn a higher rate. Read details carefully when you apply.
Guest: Dunbar
Post subject: Cash Back Credit Card Benefits
Posted: Thu May 26, 2005 10:48 pm
Only catch is the $300 a year cap, that and I only get 20-vs-30 days to pay compared to my plain-jane MBNA card. If you're a "deadbeat," how the CC companies refer to on-time payers, there is no catch. I think the CC companies see these everyday charges as a growth area. One so they can earn more interest with late-payers, and two because people tend to spend more when they're charging it. Citbank doesn't have to twist my arm to give me $300 a year
Guest: sammy262
Post subject: Cash Back Credit Card Benefits
Posted: Fri May 27, 2005 9:41 am
I agree with the other posts. Citi Dividend Platinum Select is the best rewards card out there if you pay your balance in full monthly and you are a megacharger. My wife and I each have one of these cards and have no trouble hitting our $300 limit on rebates. No annual fee, reasonable grace period, easy to navigate their website for account lookup, bill pay, etc.
We switched to this card from the GM Card which served us well. It pays 5% back on everything, but of course the rebate is only good towards a GM vehicle purchase or lease. Over the years we have gotten (in round numbers) $1700 off a GMC Jimmy, $2300 off A Chevy S-10, $1900 off a Buick Century, and $2600 off a Buick Rendezvous. And that's on top of whatever other rebates, discounts, etc are available or you can negotiate.
Also, this is the "old" GM card which is no longer available. Its structure for accumulation and redemption of rebates is superior to the "new" GM card. I think GM realized the "old" card was overly generous and scaled back with the "new' card.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Daniel
Post subject: Cash Back Credit Card Benefits
Posted: Sat May 28, 2005 11:53 am
The Citi Div card is nice but the $300 cap is a negative imo use it for the 5% deals once you hit the cap put it away.
Penfeds cash back card is worth looking at it.
1.25% cash back paid monthly with NO limit I am on track to make over $2000 this year on this card.
Guest: legitimate user
Post subject: Cash Back Credit Card Benefits
Posted: Sat May 28, 2005 12:20 pm
Interesting. I ran the numbers and I don't think hitting that cap should limit my rewards.
Anyone have any interesting information like this about Blue Cash?
Guest: Board Monitor
Post subject: Cash Back Credit Card Benefits
Posted: Mon May 30, 2005 9:10 am
Check out our consumer reviews section here:
http://www.cardratings.com/cardreviewfr.html
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
posted by CardRatings.com at 4:49 PM
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