Reply
Established Member
Posts: 47
Registered: ‎08-16-2011
0

Re: Best CC for entertainment, bars, and restaurants

As with more rewards cards that award via category, it depends on how the merchant reports itself to the CC network.  I know 2 bars that I have visited are marked as restaurant, and I got the bonus points, while one other was not, and only received 1 point. Unfortunetely you generally don't know until you get your statement.  You will however know for future visits.  Also remember that 5 TY Points != 5 cents on statement credits.  The conversion for statement credits is anywhere between 3 to 3.571% depending on redemption amount.  Student Loan Rebates are 1 point  = 1 cent, along with many gift cards.

Established Contributor
Posts: 776
Registered: ‎08-02-2008
0

Re: Best CC for entertainment, bars, and restaurants


tuffluck wrote:

citi's website says:

 

5 ThankYou Points for every $1 spent on purchases at restaurants (including fast food), bookstores, music stores, video rental stores and movie theaters; 1 ThankYou Point for every $1 spent on all other purchases

 

does a bar really count as a restaurant?  i mean if you go to a dance club that only sells alcohol, would you get the 5 points per dollar spent there?


Hrm, I hope so!

FICO: EX: 743 (10/14); TU: 758 (9/14); EQ 721 (9/14)

In My Wallet: Amazon X 1 |Amex X 5 | Barclays X 2 | BOA X 1 | CapOne X 3 | Chase X 5 | Citi X 6 | DCU X 1 | DinersClub X 1 | Discover X 1 | Fidelity X 1 | Fifth Third X 2 | Macys X 1 | PenFed X 2 | PSECU X 1 | Sams Club MC X 1 | Target RedCard X 1 | USAA X 2 | US Bank X 1 | Walmart X 1 | Wells Fargo X 1

Holding off apps until the end of the year! Wish me luck!
Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Best CC for entertainment, bars, and restaurants

[ Edited ]

There are two versions of Citi Forward. One with 5 TY points on bonus categories and one with 2 TY points on bonus categories.

 

Each TY point on average worth around 0.6 to 0.8 cents. Certain redeemptions do allow 1:1 redeemptions ratio.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Best CC for entertainment, bars, and restaurants


UFGuy2006 wrote:

tuffluck wrote:

citi's website says:

 

5 ThankYou Points for every $1 spent on purchases at restaurants (including fast food), bookstores, music stores, video rental stores and movie theaters; 1 ThankYou Point for every $1 spent on all other purchases

 

does a bar really count as a restaurant?  i mean if you go to a dance club that only sells alcohol, would you get the 5 points per dollar spent there?


Hrm, I hope so!


Hmm, I really doubt it.  :smileywink:

 

The way that you get rewards (on any card) depends on how the merchants codes the transaction. I'd be awfully surprised if a dance club with a bar coded itself as a restaurant.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Posts: 1,072
Registered: ‎04-24-2008
0

Re: Best CC for entertainment, bars, and restaurants

 


Hmm, I really doubt it.  :smileywink:

 

The way that you get rewards (on any card) depends on how the merchants codes the transaction. I'd be awfully surprised if a dance club with a bar coded itself as a restaurant.



 

Went to one of a few nightclubs I frequent a few wks ago and when I looked at my statement online, it showed that they processed it as: dinning & entertainment. So I am wondering the card I have which gives 2pts per $1 is something my bank will honor?

Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Best CC for entertainment, bars, and restaurants


tntexans72 wrote:

Hmm, I really doubt it.  :smileywink:

 

The way that you get rewards (on any card) depends on how the merchants codes the transaction. I'd be awfully surprised if a dance club with a bar coded itself as a restaurant.


Went to one of a few nightclubs I frequent a few wks ago and when I looked at my statement online, it showed that they processed it as: dinning & entertainment. So I am wondering the card I have which gives 2pts per $1 is something my bank will honor?


That would definitely be worth calling you CCC to ask. IMO, one problem with rewards programs is that they have often not been very transparent as to whether you're really being credited the full amount. A few are changing to monthly updates as to your current rewards status, but even that can require some detective work to determine which purchases are getting what level of rewards.

 

I was just now trying to figure out which of my accounts shows two different categories for a reward, and now of course, I can't find it. But it was something like Retail and then Restaurants, or something goofy like that. Anyway, all the more reason why it's worth calling the CCC and asking how your purchases are getting sorted for rewards.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Posts: 1,072
Registered: ‎04-24-2008
0

Re: Best CC for entertainment, bars, and restaurants

@haulingthescore

 

As always..thanks!

Established Contributor
Posts: 855
Registered: ‎06-29-2010
0

Re: Best CC for entertainment, bars, and restaurants


trumpet-205 wrote:

Citi Forward --> 3.2% return per dollar spent on entertainment, bars, and restaurants.




If if you use it for student loan rebates and mortgage rebates then the cash back increases to 3.9%

Established Contributor
Posts: 855
Registered: ‎06-29-2010
0

Re: Best CC for entertainment, bars, and restaurants


tuffluck wrote:

citi's website says:

 

5 ThankYou Points for every $1 spent on purchases at restaurants (including fast food), bookstores, music stores, video rental stores and movie theaters; 1 ThankYou Point for every $1 spent on all other purchases

 

does a bar really count as a restaurant?  i mean if you go to a dance club that only sells alcohol, would you get the 5 points per dollar spent there?


Most bars I go to are coded as restaurants -- of course, most of them also serve some kind of food (whether or not I'd eat there is a different discussion point).

Established Contributor
Posts: 855
Registered: ‎06-29-2010
0

Re: Best CC for entertainment, bars, and restaurants


waralpha wrote:

As with more rewards cards that award via category, it depends on how the merchant reports itself to the CC network.  I know 2 bars that I have visited are marked as restaurant, and I got the bonus points, while one other was not, and only received 1 point. Unfortunetely you generally don't know until you get your statement.  You will however know for future visits.  Also remember that 5 TY Points != 5 cents on statement credits.  The conversion for statement credits is anywhere between 3 to 3.571% depending on redemption amount.  Student Loan Rebates are 1 point  = 1 cent, along with many gift cards.


True on the 1 point does not equal 1 cent, however, I show the best conversion ratio  for points to cents at 0.8 cents per point if you use the student loan rebate option. This rate corresponds to a 0.8% cash back rate for non-bonus categories and 4.0% for bonus categories:

 

https://rewards.thankyou.com/b2r/merchandise/itemDetail.do?itemId=TYNPARENT1852986&parent=&merchantI...

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.