Citi Diamond Preferred Rewards Credit Card Review
Author: quiznut1
Posted: Sun Jul 23, 2006 2:02 pm
Post subject: Citi Diamond Preferred Rewards - 2% back for first 12 months
Hi everyone,
I know this move will raise some eyebrows by some (considering the Fidelity 529 card is already 2% cash back), but I decided to apply for the Citi Diamond Preferred Rewards card under offer code F1G7.
Here are the details:
Citi Diamond Preferred Rewards (Offer Code F1G7)
- 2 Thank You points per dollar on every purchase for 1 year (1 point thereafter)
- 0% on Balance Transfers till August 2007, and no balance transfer fee with application (doesn't apply to me, but worth mentioning)
- 10,000 bonus points with first purchase, redeemable for $100 gift card
(or what they won't tell you, redeemable for two $50 gift cards for 2 different merchants if you like).
- Apply via apply.citicards.com, or call 1-800-491-0848 by 9/15/06.
The best way to redeem points on this card for me is through gift cards, since the top cash rebate is $250 for 38,000 points (not good at all). I shop at Target often, and Target gift cards are available on the Thank You Network. There are others, such as Best Buy, Circuit City, Shell, Exxon Mobil, Applebees, TGI Fridays, and others.
Since 5,000 points equals a $50 gift card, that means spending $2,500 at 2 points per dollar will get you a $50 gift card (2%). Also, I already have the Citi MtvU Visa card, which has Thank You points. As a result, I found out that should I get this Diamond card, I can use combine both card's Thank You point balance into one bucket basically, and get the rewards quicker.
Bottom Line: I applied for this card since Bank Of America phased out the Power Rewards 1.5% and 2% cash back options. I fully expect another credit card to come out in the future that offers the opportunity to earn 2% without having to jump through a ton of hoops like I feel the Fidelity 529 card is. Until then, I will likely use this card for 1 year, cancel it, and apply for another one that offers more than 1% back.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: JaneiR36
Posted: Sun Jul 23, 2006 2:39 pm
Post subject:
For some reason, I can't really think of many of my purchases that fall outside of gas and groceries. Maybe air tickets?
Author: phantomega1
Posted: Sun Jul 23, 2006 4:40 pm
Post subject: Citi Diamond Preferred Rewards Credit Card Review
I just got those two cards as well. The Diamond Preferred Rewards and MTVu will add up to about 5 points everywhere. I can't wait til the cards get here!
_________________
I can't commit. I don't even know if I like Pepsi or Coke. Caffeine is my lifeblood.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sun Jul 23, 2006 2:02 pm
Post subject: Citi Diamond Preferred Rewards - 2% back for first 12 months
Hi everyone,
I know this move will raise some eyebrows by some (considering the Fidelity 529 card is already 2% cash back), but I decided to apply for the Citi Diamond Preferred Rewards card under offer code F1G7.
Here are the details:
Citi Diamond Preferred Rewards (Offer Code F1G7)
- 2 Thank You points per dollar on every purchase for 1 year (1 point thereafter)
- 0% on Balance Transfers till August 2007, and no balance transfer fee with application (doesn't apply to me, but worth mentioning)
- 10,000 bonus points with first purchase, redeemable for $100 gift card
(or what they won't tell you, redeemable for two $50 gift cards for 2 different merchants if you like).
- Apply via apply.citicards.com, or call 1-800-491-0848 by 9/15/06.
The best way to redeem points on this card for me is through gift cards, since the top cash rebate is $250 for 38,000 points (not good at all). I shop at Target often, and Target gift cards are available on the Thank You Network. There are others, such as Best Buy, Circuit City, Shell, Exxon Mobil, Applebees, TGI Fridays, and others.
Since 5,000 points equals a $50 gift card, that means spending $2,500 at 2 points per dollar will get you a $50 gift card (2%). Also, I already have the Citi MtvU Visa card, which has Thank You points. As a result, I found out that should I get this Diamond card, I can use combine both card's Thank You point balance into one bucket basically, and get the rewards quicker.
Bottom Line: I applied for this card since Bank Of America phased out the Power Rewards 1.5% and 2% cash back options. I fully expect another credit card to come out in the future that offers the opportunity to earn 2% without having to jump through a ton of hoops like I feel the Fidelity 529 card is. Until then, I will likely use this card for 1 year, cancel it, and apply for another one that offers more than 1% back.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: JaneiR36
Posted: Sun Jul 23, 2006 2:39 pm
Post subject:
For some reason, I can't really think of many of my purchases that fall outside of gas and groceries. Maybe air tickets?
Author: phantomega1
Posted: Sun Jul 23, 2006 4:40 pm
Post subject: Citi Diamond Preferred Rewards Credit Card Review
I just got those two cards as well. The Diamond Preferred Rewards and MTVu will add up to about 5 points everywhere. I can't wait til the cards get here!
_________________
I can't commit. I don't even know if I like Pepsi or Coke. Caffeine is my lifeblood.
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 11:21 PM
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