Stockback Rebate Credit Card
Author: Guest
Posted: Thu Jun 24, 2004 5:46 pm
Post subject: Stockback Rebate Credit Card
Looking for comments on the new Stockback rebate credit card from MBNA/Vesdia Corporation.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Eugene
Posted: Thu Jun 24, 2004 11:31 pm
Post subject: Stockback Rebate Credit Card
Looks like you need to charge a LOT to make this card competitive:
Quote:
Customers will earn based upon the following monthly spending thresholds: $0-$1,500 = 0.5%, $1,501-$3,000 = 1%, $3,001-$5,000 = 1.5%, $5,000+ = 2.0%. Earning Potential is capped at $6,000 or $120 in Rewards monthly.
(See https://wwwn.applyonlinenow.com/USapp/Ctl/redirect?CV_sourceCode=HV67&CV_MC=A000001NHK for full details.)
If you use Citibank's card for supermarkets, drugstores and gas stations (5% cash back on those purchases), then you need to charge at least another $3,001 on top of that on Stockback card MONTHLY to make the card more competitive than Citibank for the rest of the purchases. In this case MBNA Stockback card will be better than AmEx Blue cashback. Assuming you charge $3,001 monthly on Stockback vs. charging $36,012 annually in non-everyday purchases on AmEx (same thing approximately), you'll get $540.18 from Stockback vs. $475.18 on AmEx. If you charge even more, MBNA/Stockback's advantage over AmEx Blue becomes wider.
If you charge between $1,501 and $3,000 on MBNA Stockback monthly, you are also (slightly) better off than getting 1% on Citi. Even though you earn the same percentage, you get cash faster on MBNA (as soon as you reach $25 in rewards) vs. Citi's $100. And the upper limit is also higher ($120 monthly on MBNA vs. $300 annually on Citi).
If you charge less than $3,000 monthly after Citibank supermarket / drugstore / gas station purchases (and especially if less than $1,500), then you should probably use either a plain 1% card or AmEx Blue for the rest of the purchases. Break-even point would be $13,000 for the rest of the purchases annually. If you charge less than that, use a plain 1% card, otherwise use AmEx Blue.
This analysis assumes you do not carry a balance on Blue and does not consider other cards available (like Citibank's time-limited 5% on all purchases promos or Chase Perfect).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Jun 24, 2004 5:46 pm
Post subject: Stockback Rebate Credit Card
Looking for comments on the new Stockback rebate credit card from MBNA/Vesdia Corporation.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Eugene
Posted: Thu Jun 24, 2004 11:31 pm
Post subject: Stockback Rebate Credit Card
Looks like you need to charge a LOT to make this card competitive:
Quote:
Customers will earn based upon the following monthly spending thresholds: $0-$1,500 = 0.5%, $1,501-$3,000 = 1%, $3,001-$5,000 = 1.5%, $5,000+ = 2.0%. Earning Potential is capped at $6,000 or $120 in Rewards monthly.
(See https://wwwn.applyonlinenow.com/USapp/Ctl/redirect?CV_sourceCode=HV67&CV_MC=A000001NHK for full details.)
If you use Citibank's card for supermarkets, drugstores and gas stations (5% cash back on those purchases), then you need to charge at least another $3,001 on top of that on Stockback card MONTHLY to make the card more competitive than Citibank for the rest of the purchases. In this case MBNA Stockback card will be better than AmEx Blue cashback. Assuming you charge $3,001 monthly on Stockback vs. charging $36,012 annually in non-everyday purchases on AmEx (same thing approximately), you'll get $540.18 from Stockback vs. $475.18 on AmEx. If you charge even more, MBNA/Stockback's advantage over AmEx Blue becomes wider.
If you charge between $1,501 and $3,000 on MBNA Stockback monthly, you are also (slightly) better off than getting 1% on Citi. Even though you earn the same percentage, you get cash faster on MBNA (as soon as you reach $25 in rewards) vs. Citi's $100. And the upper limit is also higher ($120 monthly on MBNA vs. $300 annually on Citi).
If you charge less than $3,000 monthly after Citibank supermarket / drugstore / gas station purchases (and especially if less than $1,500), then you should probably use either a plain 1% card or AmEx Blue for the rest of the purchases. Break-even point would be $13,000 for the rest of the purchases annually. If you charge less than that, use a plain 1% card, otherwise use AmEx Blue.
This analysis assumes you do not carry a balance on Blue and does not consider other cards available (like Citibank's time-limited 5% on all purchases promos or Chase Perfect).
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 12:17 PM
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