R
RamboAroundTheWorld
Guest
Wasn't able to product change because my Exec's been open for too little time. Ah well.
Citi DoubleCash
- Thread starter arathorn
- Start date
goals^n^dreams
Level 2 Member
I am really confused about their term of 2% cash back. If I buy $5000 and I pay off $5000 before my statement closes, then I buy $3000 and pay off before my statement closes, will I get 2% of $8000?
Some reps say yes, some say no.
Some terms seem clear to me:
First month as an obvious example, you have zero purchase tracker, you won't earn 1% on early payments.
The confusion seems to be if you pay it down do those purchases then add on to the purchase tracker for the following month... but even if you do you can get screwed on that 1% every month:
Month 1 purchase $1000 pay $1000 = 1% PT Zero
Month 2 PT $1000 purchase $2000 pay $2000 = 1.5%
Month 3 PT PT $2000..
So, you are always getting caught out if you buy in that pattern, which is not simple to track,and many people will fall foul of it.
I've said it before, and I'll say it again it is NOT 2%. 2% is buy something, get 2% - same as the Fidelity Amex.. I'm willing to put money on this being the case, even if they do bolt on the full amount of purchases to PT, you still can have scenarios occur where you aren't getting 2% back from these guys.
First month as an obvious example, you have zero purchase tracker, you won't earn 1% on early payments.
The confusion seems to be if you pay it down do those purchases then add on to the purchase tracker for the following month... but even if you do you can get screwed on that 1% every month:
Month 1 purchase $1000 pay $1000 = 1% PT Zero
Month 2 PT $1000 purchase $2000 pay $2000 = 1.5%
Month 3 PT PT $2000..
So, you are always getting caught out if you buy in that pattern, which is not simple to track,and many people will fall foul of it.
I've said it before, and I'll say it again it is NOT 2%. 2% is buy something, get 2% - same as the Fidelity Amex.. I'm willing to put money on this being the case, even if they do bolt on the full amount of purchases to PT, you still can have scenarios occur where you aren't getting 2% back from these guys.
goals^n^dreams
Level 2 Member
so it is not 2% card. As a MS, we will not keep a balance on the date of statement closed. So I think it is a 1% card.
I like to pay my MS balances early but I like letting my true spending close in the monthly statement.
So this could be a good place to redirect my non-MS, non-category spending and gain the ability to pay it off with a debit card.
Racking up MS with this might be tough in any case due to Citi's greater propensity to charge cash advances versus other issuers.
So this could be a good place to redirect my non-MS, non-category spending and gain the ability to pay it off with a debit card.
Racking up MS with this might be tough in any case due to Citi's greater propensity to charge cash advances versus other issuers.
I'm not speculating, I am reading and explaining the terms and conditions. Doing this is not pointless, it is what we have to do in order to assess a deal. Now... there could be value (and often is) when reality doesn't match the terms and conditions, but that is a different beast.
Edit-
I take that back, the purchase tracker updating at month end might be considered speculation as although it was told to me by citi, it wasn't in the terms.
So yeah, everybody stfu!
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Also, if T&Cs were always true, there would be no MO or GC game. I'm still interested, but I'm willing to wait right now.I'm not speculating, I am reading and explaining the terms and conditions. Doing this is not pointless, it is what we have to do in order to assess a deal. Now... there could be value (and often is) when reality doesn't match the terms and conditions, but that is a different beast.
Edit-
I take that back, the purchase tracker updating at month end might be considered speculation as although it was told to me by citi, it wasn't in the terms.
So yeah, everybody stfu!
As mentioned, that is a different discussion, a valid one all the same.
Annie H.
Egalatarian
Splitting hairs here but T&Cs ARE always true and it is the law/rule. T&Cs aren't always enforced (my favorite, can't use card to buy gift cards)--that's what's true and the hammer is always there for them to pull out when they need or want to.
loves2fly
Gold Member
I also called for clarification asking why they had to separate verbiage for the purchase part and another cashback for payment part. It was obvious to me that the rep I talked to was reading off a script. He couldn't give me direct answers to an example I gave him like: I have $3000 in purchases and pay that in batches leaving $100 outstanding balance on day statement cuts. So I bought $3K worth and already paid $2900, will I get 1 % on the $3K and another 1% on the $2.9K? He wouldn't answer with a YES or NO, he just mumbled 1% when you buy and another 1% when you pay blah blah blah. I decided to end the useless conversation. Why can't it be as simple as CapOne Quicksilver 1.5% CB on everything?
What I'm trying to say is T&C tell you how it is supposed to work, not how it does work. Just as anything, if they catch a violation, they could rescind the points under the T&C. I'm just saying we need to see how an actual billing statement posts with CB that is paid before the statement closes.
Annie H.
Egalatarian
Sorry, I shouldn't have butted in. I want to know how it works also!
Reports are coming in on FT (well, report, one so far) that 2% posted for purchases on the first statement, that were paid off before they closed.
And another post I saw that might explain the wording of 1%+1%. If you use CB as a statement credit, it appears you only get 1%, and not the second 1% for paying it off, as Citi did.
And another post I saw that might explain the wording of 1%+1%. If you use CB as a statement credit, it appears you only get 1%, and not the second 1% for paying it off, as Citi did.
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R
RamboAroundTheWorld
Guest
Anyone seen a good offer on this recently?
Silverthunder
Level 2 Member
Does anyone know if purchases from gift card mall will get the 2% cash back from citi?