Quicksilver cash back

[Anonymous]

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@UncleB wrote:

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@Anonymous wrote:

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@UncleB wrote:

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@longtimelurker wrote:

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@Anonymous wrote:

Your husband would have even more in cash back if he owned a Citi Double Cash card. I don't see the point of 1.5% cash back cards anymore. 

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Well, except he probably wouldn't, as the DC doesn't have a sign up bonus.   If he spend $500, with the DC he would have $10, with the Quicksilver $107.50

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+1

You have to spend over $20k before the Citi DC earns more cash back than the QS once you figure in the $100 bonus. 

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That's a rather illogical way of looking at is, since his wife probably makes more than $20,000 in a lifetime. 

Spend $500,000 on the DC = $10,000 in cash back.

Spend $500,000 on the QS = $7,600 in cash back. 

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My statement isn't opinion, it's just math. 

It has nothing to do with how much one makes, it's how much will be spent on a particular card.  Most of us here, like myself, have various cards we use for various categories so it would take quite a while (in my case, years...) to spend $20k to pass the threshold where a DC would be more profitable. 

We each just have to do the math to see what makes the most sense for us.  Just because the Citi Double Cash works best for some doesn't mean it's necessarily the best fit for everyone. 

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If you have a Citi Double Cash card, you're using it for most of your spending. Other cards only have one category (if you're lucky) that's greater than 2%, such as your BCP AMEX for groceries. 

[UncleB]

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@Anonymous wrote:

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@UncleB wrote:

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@Anonymous wrote:

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@UncleB wrote:

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@longtimelurker wrote:

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@Anonymous wrote:

Your husband would have even more in cash back if he owned a Citi Double Cash card. I don't see the point of 1.5% cash back cards anymore. 

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Well, except he probably wouldn't, as the DC doesn't have a sign up bonus.   If he spend $500, with the DC he would have $10, with the Quicksilver $107.50

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+1

You have to spend over $20k before the Citi DC earns more cash back than the QS once you figure in the $100 bonus. 

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That's a rather illogical way of looking at is, since his wife probably makes more than $20,000 in a lifetime. 

Spend $500,000 on the DC = $10,000 in cash back.

Spend $500,000 on the QS = $7,600 in cash back. 

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My statement isn't opinion, it's just math. 

It has nothing to do with how much one makes, it's how much will be spent on a particular card.  Most of us here, like myself, have various cards we use for various categories so it would take quite a while (in my case, years...) to spend $20k to pass the threshold where a DC would be more profitable. 

We each just have to do the math to see what makes the most sense for us.  Just because the Citi Double Cash works best for some doesn't mean it's necessarily the best fit for everyone. 

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If you have a Citi Double Cash card, you're using it for most of your spending. Other cards only have one category (if you're lucky) that's greater than 2%, such as your BCP AMEX for groceries. 

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I feel we're getting away from the topic of the thread, but I'll just mention that many folks (such as myself) keep general-spend cards to take care of purchases that aren't covered by a card offering a higher cash back percentage.  It's true that some people will use a general-spend card for the majority of their spending, but it's a fallacy to imply that all people do so. 

We would need to start a separate thread if you want to continue the discussion on general spend vs. category cards. 

[Anonymous]

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@UncleB wrote:

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@Anonymous wrote:

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@UncleB wrote:

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@Anonymous wrote:

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@UncleB wrote:

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@longtimelurker wrote:

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@Anonymous wrote:

Your husband would have even more in cash back if he owned a Citi Double Cash card. I don't see the point of 1.5% cash back cards anymore. 

---

Well, except he probably wouldn't, as the DC doesn't have a sign up bonus.   If he spend $500, with the DC he would have $10, with the Quicksilver $107.50

---

+1

You have to spend over $20k before the Citi DC earns more cash back than the QS once you figure in the $100 bonus. 

---

That's a rather illogical way of looking at is, since his wife probably makes more than $20,000 in a lifetime. 

Spend $500,000 on the DC = $10,000 in cash back.

Spend $500,000 on the QS = $7,600 in cash back. 

---

My statement isn't opinion, it's just math. 

It has nothing to do with how much one makes, it's how much will be spent on a particular card.  Most of us here, like myself, have various cards we use for various categories so it would take quite a while (in my case, years...) to spend $20k to pass the threshold where a DC would be more profitable. 

We each just have to do the math to see what makes the most sense for us.  Just because the Citi Double Cash works best for some doesn't mean it's necessarily the best fit for everyone. 

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If you have a Citi Double Cash card, you're using it for most of your spending. Other cards only have one category (if you're lucky) that's greater than 2%, such as your BCP AMEX for groceries. 

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I feel we're getting away from the topic of the thread, but I'll just mention that many folks (such as myself) keep general-spend cards to take care of purchases that aren't covered by a card offering a higher cash back percentage.  It's true that some people will use a general-spend card for the majority of their spending, but it's a fallacy to imply that all people do so. 

We would need to start a separate thread if you want to continue the discussion on general spend vs. category cards. 

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The answer to the OP's question has already been resolved. 

Since the thread topic is about the Quicksilver and it's cash back, I am comparing another card to it... It's completely on topic. 

[Anonymous]

Depends on ones goals here.  If the goal is to make a quick buck, the QS sign up bonus is the way to go over the Citi DC card as the half percent "advantage" of the Citi card wouldn't be realized for most people for a couple of years.  If someone is looking for a long term (say 2-3 years+) win, the DC card would probably be the better cash back option over the QS since the sign on bonus return would eventually be over taken.  There's no "right" or "wrong" way to go here... it's all a matter of if you want your extra cash sooner or later.

[Credit_hawk]

I have both the DC and QS and while the QS beats the DC with a sign-up bonus and quicker rewards posting it gets trounced by the DC WEMC benefits. Citi really hit it out of the park with all the card benefits which I have found few cards that can beat it. Outside of the bonus, it would be tough to argue the QS is at all better in any way. Plus, if you pay the DC in full as the statement cuts you get the full cash back without having to wait a month.

[longtimelurker]

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@Credit_hawk wrote:

I have both the DC and QS and while the QS beats the DC with a sign-up bonus and quicker rewards posting it gets trounced by the DC WEMC benefits. Citi really hit it out of the park with all the card benefits which I have found few cards that can beat it. Outside of the bonus, it would be tough to argue the QS is at all better in any way. Plus, if you pay the DC in full as the statement cuts you get the full cash back without having to wait a month.

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Well, one very obvious way is the FTF, it would make no sense to use the DC for foreign spend.  

But you generally don't need to have such a clear distinction.    You can get cards for the bonus (such as QS, with a very small spend requirement), keeping the DC for general spend after that. (And looking out for things like the IT MIles 3% first year).

[kdm31091]

The QS vs DC debate has gone on since the products have existed, and there's really no right or wrong answer. If you obtain a new QS and get the $100 bonus, vs no bonus on the DC, it takes a lot of spend before the DC will outearn that, in the short term.

In the long run, 2% is more than 1.5%, but if you're spending abroad, QS has no FTF.

That said, no reason someone cannot have both cards if they want. I find Citi's system kind of clunky. Having to pay before the bill even comes to get the full 2% that month is a little much for me. Others don't find it to be an issue. Capital One is definitely much more cut and dry with the rewards, but some things are difficult or impossible to accomplish with them (APR reduction, manual CLI, etc).

For the everyday person who probably doesn't go abroad much and probably doesn't care about delays in rewards, DC is a great card. For the impatient among us, QS may be better.

[Anonymous]

That said, no reason someone cannot have both cards if they want. I find Citi's system kind of clunky. Having to pay before the bill even comes to get the full 2% that month is a little much for me.

You should be paying the bill before it comes, in full. 

If you don't, the rewards are pointless. 

If that's too much for you, then why do you have a credit card? 

[longtimelurker]

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@Anonymous wrote:

That said, no reason someone cannot have both cards if they want. I find Citi's system kind of clunky. Having to pay before the bill even comes to get the full 2% that month is a little much for me.

You should be paying the bill before it comes, in full. 

If you don't, the rewards are pointless. 

If that's too much for you, then why do you have a credit card? 

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You have to pay before the due date, not before the bill comes.   The 2% will be slower but will come, so far from pointless.

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

That said, no reason someone cannot have both cards if they want. I find Citi's system kind of clunky. Having to pay before the bill even comes to get the full 2% that month is a little much for me.

You should be paying the bill before it comes, in full. 

If you don't, the rewards are pointless. 

If that's too much for you, then why do you have a credit card? 

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You have to pay before the due date, not before the bill comes.   The 2% will be slower but will come, so far from pointless.

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The second 1% counts up until the day the statement cuts, as long as it's not still in "pending" status. 

If you make $1,500 in purchases that month, and then $900 in payments that month before the statement end date, you get $24 in cash back.