Minimum Redemption Levels for Cash Back - I don't like them!

[driftless]

I have both QS and Freedom as my cash back cards. For the most part I don't want to think about which card to use and when so QS gets used most.

[driftless]

minicooper Post-Script: Mini S Countryman with manual here. Red w/stripes.

[Anonymous]

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@driftless wrote:
minicooper Post-Script: Mini S Countryman with manual here. Red w/stripes.

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Driftless - 2009 Mini Clubman with manual here All black (including wheels) 118,000 miles and still going!

[driftless]

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@Anonymous wrote:

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@driftless wrote:
minicooper Post-Script: Mini S Countryman with manual here. Red w/stripes.

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Driftless - 2009 Mini Clubman with manual here All black (including wheels) 118,000 miles and still going!

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Very cool!

[Anonymous]

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@Anonymous wrote:

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@CluelessJohn wrote:

I'm generally a believer that 2% cash back is better than 1.5%, but I shelved my Citi DC and started using a CapOne QS card for general spend.  Citi DC had the $25 minimum and other redemption issues since I don't have a Citi checking account.  I know I'm leaving money on the table but I prefer the instant gratification.

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I agree and I feel like at the end of the day, getting 1.5% quickly is better than 2% and having to wait for it. 

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Consider an alternative view: If there was an investment that would give you an easy return of 33% per month, would you be interested? I certainly would be!

Well, if you wait a month to have $20 instead of $15 today, you're earning 33% a month. By taking less money early (taking 1.5% now vs. waiting for 2%), you're basically borrowing from your future potential rewards at an annual interest rate of ((1.33)^12)-1=29.63 (2963% per year).

Not even First Premier charges that much in interest.