Next Best Rewards Credit Card?
Guest: JaneiR36
Credit Expert (100+ Posts)
Post subject: Next Best Rewards Credit Card?
Posted: Sat Aug 05, 2006 7:29 pm
I keep hearing about the next best rewards card, and even when they offer me a higher percentage than I'm currently earning on a given category, I always feel like if they're not offering at least what I get on certain everyday purchases the amount would never be enough to actually collect the rewards! Either that, or it would take a much longer length of time.
For instance, unless it's for the initial $100 bonus, I find it hard to apply for anything Citibank for rewards purposes. This being because I spend a huge amount of money on Walmart every month, and only my Chase cards give me rewards on that so far. Without the Walmart / grocery purchases to seriously bump the total amount, I wonder when I'll actually be able to collect my points.
Anyone face this scenario, and if so, how do you deal with it? If not, how come?
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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Aug 05, 2006 8:35 pm
If you have a card that gives you better benefits at WalMart than a Citibank card, of course you should use that card to shop at WalMart. But for me that's not an argument against getting a Citibank card.
You can't ignore that $100 bonus, the 0% intro offer, the ability to balance transfer to it and then get a cash refund of any credit balance, the possibility of getting other special offers from the card now or in the future, and the boost any additional cards will give to your credit scores. No harm in sockdrawering it if it's not useful to you for retail purchases.
For example, Citibank has a promo going on with Google right now for Google's new merchant shopping service. Enroll your Citibank card and get $5 first time you use it at a Google merchant. I enrolled all six of my Citibank cards, purchased a 35 cent video download on each (which I didn't bother to download), and pocketed a quick $30.00. I also enrolled the cards I wasn't using in Citibank's card protection program and pocketed another $40 per card. After I get those $40 checks, I'll call to cancel the protection service and be enticed into keeping it by being offered gift cards or $50 in coupons or whatever the going retention deal is.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
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Guest: EasyRhino
Posted: Sat Aug 05, 2006 8:40 pm
Oh sure. I have five cards in daily spending rotation right now. And I don't really spend that much in a year. It tends to dripple out rewards thresholds across multiple cards.
But, when I was hoplessly naive, and only had a 1% card, and paid for lots of stuff with cash, I only think I ever redeemed any money once every year or two. And even then, not big bucks, like $25 or $75.
Now, I'll probably still only be cashing out at about the same frequency, except across five cards instead of one.
The way I figure it, if you can get a meaningful amount back from it over the course of a year, then it's worth using. Any longer, and it's probably too much of a pain, or even runs a risk of having points expire.
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Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Sat Aug 05, 2006 8:41 pm
That's an interesting way to look at it, Polonius, getting the rewards on not necessarily everyday purchase items but rather the gimmes they throw around every now and then. I do have four Citi cards but I don't use any of them for everyday purchases due to the points adding up issue. I'll definitely reconsider seeing as there are so many ways to get the points to add up, or just get rewards, either way.
I have about 3 $20 checks from Chase for the payment protection. How do you feel about signing up for these, and then talking to a real person to cancel knowing full and well you weren't going to keep the service to begin with? Just to be clear, I'm not attacking you at all, I'm actually looking for a pep talk so I can rationalize it and be that way as well and pocket the money, too!
Last edited by JaneiR36 on Sat Aug 05, 2006 8:48 pm; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Next Best Rewards Credit Card?
Posted: Sat Aug 05, 2006 7:29 pm
I keep hearing about the next best rewards card, and even when they offer me a higher percentage than I'm currently earning on a given category, I always feel like if they're not offering at least what I get on certain everyday purchases the amount would never be enough to actually collect the rewards! Either that, or it would take a much longer length of time.
For instance, unless it's for the initial $100 bonus, I find it hard to apply for anything Citibank for rewards purposes. This being because I spend a huge amount of money on Walmart every month, and only my Chase cards give me rewards on that so far. Without the Walmart / grocery purchases to seriously bump the total amount, I wonder when I'll actually be able to collect my points.
Anyone face this scenario, and if so, how do you deal with it? If not, how come?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Aug 05, 2006 8:35 pm
If you have a card that gives you better benefits at WalMart than a Citibank card, of course you should use that card to shop at WalMart. But for me that's not an argument against getting a Citibank card.
You can't ignore that $100 bonus, the 0% intro offer, the ability to balance transfer to it and then get a cash refund of any credit balance, the possibility of getting other special offers from the card now or in the future, and the boost any additional cards will give to your credit scores. No harm in sockdrawering it if it's not useful to you for retail purchases.
For example, Citibank has a promo going on with Google right now for Google's new merchant shopping service. Enroll your Citibank card and get $5 first time you use it at a Google merchant. I enrolled all six of my Citibank cards, purchased a 35 cent video download on each (which I didn't bother to download), and pocketed a quick $30.00. I also enrolled the cards I wasn't using in Citibank's card protection program and pocketed another $40 per card. After I get those $40 checks, I'll call to cancel the protection service and be enticed into keeping it by being offered gift cards or $50 in coupons or whatever the going retention deal is.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: EasyRhino
Posted: Sat Aug 05, 2006 8:40 pm
Oh sure. I have five cards in daily spending rotation right now. And I don't really spend that much in a year. It tends to dripple out rewards thresholds across multiple cards.
But, when I was hoplessly naive, and only had a 1% card, and paid for lots of stuff with cash, I only think I ever redeemed any money once every year or two. And even then, not big bucks, like $25 or $75.
Now, I'll probably still only be cashing out at about the same frequency, except across five cards instead of one.
The way I figure it, if you can get a meaningful amount back from it over the course of a year, then it's worth using. Any longer, and it's probably too much of a pain, or even runs a risk of having points expire.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Sat Aug 05, 2006 8:41 pm
That's an interesting way to look at it, Polonius, getting the rewards on not necessarily everyday purchase items but rather the gimmes they throw around every now and then. I do have four Citi cards but I don't use any of them for everyday purchases due to the points adding up issue. I'll definitely reconsider seeing as there are so many ways to get the points to add up, or just get rewards, either way.
I have about 3 $20 checks from Chase for the payment protection. How do you feel about signing up for these, and then talking to a real person to cancel knowing full and well you weren't going to keep the service to begin with? Just to be clear, I'm not attacking you at all, I'm actually looking for a pep talk so I can rationalize it and be that way as well and pocket the money, too!
Last edited by JaneiR36 on Sat Aug 05, 2006 8:48 pm; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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