Citi Double Cash

[PointLager]

I personally converted one of my Citi cards to the ATT access more. 3x thank you points for ALL online purchases is massive for me especially when paired w Citi prestige , which allows me to transfer out to airlines (and realize average of 2 cents per point value) or buy cash flights for 1.25 cents per point.

[Anonymous]

Did they offer you $100 converting from the Diamond Preferred to the new card?

[Loquat]

I'm almost at the end of the intro APR on my DP and I don't know what I'm going to do with this card as I already have a DC.  Does anyone have any idea of any other card that Citi will let you PC a DP to?

[UncleB]

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@Loquat wrote:

I'm almost at the end of the intro APR on my DP and I don't know what I'm going to do with this card as I already have a DC.  Does anyone have any idea of any other card that Citi will let you PC a DP to?

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I'm in a similar position; my intro period on my Diamond Preferred is up in March, and I have the USAA Limitless which makes a 2% card (with no other 'perks', such as Blispay) not so alluring.

I'm likely going to try a PC to a Dividend; I have Discover already but having another 5% category card could be useful especially if/when the categories don't overlap. 

I admit I'm already dreading the call, though... from what I've read the process is either totally painless and takes a few minutes, or it's a game of HUCA with reps who aren't informed, with little in-between.    (This is assuming the PC to Dividend is even still possible.)

[Kforce]

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@Legal_Girl wrote:

I got an email from Citi today telling me I could convert my Diamond Preferred to Double Cash.  Needless to say, I took the offer.  It will be nice to get some kind of reward/cash back on a Citi card.

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Congradulations,  I think you will like the card.

A little off topic, however a couple of things you should be aware of as a new Double Cash owner.

1) if you want to get a Direct Deposit for your cash back, ( The only way to get the full 2% ),  you need

     to establish history (and continue history) by making payment from Citi's online system,

     and not by pushing money from your  bank's bill pay.

2) It takes a 2-3 months for credit score, instant payment, and ability to transfer

     cashback to you checking. (be a little patient and all services come alive)

3) Can not pre-pay pending charges without loosing 1% cashback (need to pay only

     posted balance on this card).

[Anonymous]

Hi KForce,

I'm not sure what the issue is to receiving full 2% as statement credit??

If the cardholder requests the full CB AFTER paying balance and not before.  It appears everyone is referring to requesting statement credit before paying balance which ends up as 1.99% instead of 2%. This way the cardholder would receive full 2% as statement credit correct?

Example:

$1000 purchase, 1% cash back $10 (don't redeem as statement credit right away), then complete balance payment $1000, earn another 1% cash back $10. Then and only then redeem as statement credit. This will then earn full 2%. Since I use my card each month, I can use the full CB the following month. Did I miss anything?

I don't understand why everyone says there is no choice to limit this to 1.99% when redeeming as statement credit??

[Kforce]

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@Anonymous wrote:
Example:

$1000 purchase, 1% cash back $10 (don't redeem as statement credit right away), then complete balance payment $1000, earn another 1% cash back $10. Then and only then redeem as statement credit. This will then earn full 2%. Since I use my card each month, I can use the full CB the following month. Did I miss anything?

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     With your example, your credit tracking account will now have a  credit of $20 so with

     the next $100 spend you only owe $80 and will lose 1% of the credit on the payment side.

     You lose 1% of the cash back as payment credit the next cycle. It is very small and many feel it

     is easy to just get statement credit,  others push it to checking to maneuver around the loss.

     The same thing happens if you pay more than what the balance is. If you were to pre-pay $500,

     you would lose 1% of $500.

[Legal_Girl]

Sorry Mench, I just saw this.  I deleted the email after I converted and I cannot remember for sure.  I know when I read the offer at the time it was definitely worth converting.

[Anonymous]

Thanks very much KForce...now I understand. The statement credit makes it impossible to earn the additional full 1% on the payment, so no matter what the balance is at any given time, it takes away one's ability to ever make a payment for the same amount the balance was reduced by.

[longtimelurker]

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@Anonymous wrote:

Thanks very much KForce...now I understand. The statement credit makes it impossible to earn the additional full 1% on the payment, so no matter what the balance is at any given time, it takes away one's ability to ever make a payment for the same amount the balance was reduced by.

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Yes, but as KForce says, for many it is a very small amount, reducing the generally small cash back by 1/200.   On the other hand, depositing instead to your bank account isn't that much extra work either!