@beautifulblaquepearl wrote:
@SouthJamaica wrote:
@Anonymous wrote:Waste of a pull imo. Failed to understand the rewards prior to app.
Ok so 1% after billing statement closes.
1% after paid.
Cool.
However im reading it can take another billing statement for the 1% from payment to appear.
Then you need $25 to redeem. Seems like its going to take a while to cash in my rewards. Am i right?
I feel like im better off using the quick silver now.
I agree. It's a much overrated card IMHO:
1. first 1% delayed until statement after purchase
2. second 1% delayed until statement after payment
3. redemption minimum of $25
4. low starting limits
5. hard to get CLI's, usually no soft pull opportunity
6. no balance transfer opportunities after first 30 days
7. high interest & high fees
8. foreign transaction fees
I took a HP to get the CL I wanted.
I currently have 2 BT offers and a purchase promotional 6.99% APR through March or May (I think it's March). I can't remember.
Ditto. And again from 10k to 15k. I had BT offers when the card was a year old. Still have 0% until mid feb 2017.
I agree with folks who do not get their rewards that it can be frustrating. In fact one could argue, that money could be placed in a high interest checking acount and earning them even more money. But I usually never have a problem hitting the 25 mark each month with Citi, until just recently with my Discover aquisition in September. Naturally I have shifted more of my spend to that card, because even after a year it too is a 2% card (the first year anyway).
I would encorage folks to evaluate their long term goals. Certainly if they can get in with citi vs capital one, I would say that is the wiser choice (depending on their level of spending). But I would say FNBO would be even better!!!
I agree with this 100%. I never understood letting rewards pile up on a credit card account.
I get it... but i mean what amount of rewards are we talking here when you are pulling them out???
If you pulled out $1000 in rewards and put them into a standard savings at the current rates which are barely 1% that's 10 whopping bucks in interest IF you had that amount in there the whole year... whats the big deal? I'd give up that just so i didnt have to mess with it!
What if your card issuer closes your account and you lose all of those rewards? Or they could nix their rewards program or that product all together and rewards could be lost. Of course the chances of this happening aren't great, but when they have your money it's certainly a risk that offers no reward near as I can tell.
You'd have time to pay those out if they stop the program. The only way you'd really lose them is if they just went belly up or you chose to close without redeeming them.
