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Would you hit that? (10% cash back)

Contributor

Would you hit that? (10% cash back)

I just received an offer from my former bank--Citizen's--for a Cash Back Visa that has a 10% cash back for 90 days on groceries, gas and pharmacy purchases. As you can see from my sig I have 10 cards at the moment and only really use the BCP, Freedom, US Bank and Amex PRG. At any given moment I have a small balances on these and PIF at the end of the month. I just made a huge $17,000 payment to my student loans which brings that total down to $59,000 (from a high of $135,000--yes, it can be done) and paid off my BCP which had a $2800 balance, so I am hoping to see a bump in my score next month. I am giving you this background to ask you: do you think it's worth it to go for the 10% back card, even though I'd really only use it for the next three months? After the 90 day period it goes to 1%. I normally use the Freedom for gas (5% when it's that time of the year) and buy all my groceries with the BCP, although I have already exhausted $3000 or the $6000 that is yearly allowed toward the 6%. If you were me, would you sit tight in the garden or go for it? BTW I have 1 inq that will drop off this month, another that will drop off next month, and then 5 that will drop off in August. Thoughts?

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Message 1 of 23
22 REPLIES
Contributor

Re: Would you hit that? (10% cash back)

Garden.

 

After 90 days are you still going to use it? Do you really need another TL?


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Message 2 of 23
Moderator Emerita

Re: Would you hit that? (10% cash back)

I would but how many inq's will you have left after 7 drop off? I am not afraid of inq's, I'm just curious.
Message 3 of 23
Established Contributor

Re: Would you hit that? (10% cash back)


severine wrote:

I just received an offer from my former bank--Citizen's--for a Cash Back Visa that has a 10% cash back for 90 days on groceries, gas and pharmacy purchases. As you can see from my sig I have 10 cards at the moment and only really use the BCP, Freedom, US Bank and Amex PRG. At any given moment I have a small balances on these and PIF at the end of the month. I just made a huge $17,000 payment to my student loans which brings that total down to $59,000 (from a high of $135,000--yes, it can be done) and paid off my BCP which had a $2800 balance, so I am hoping to see a bump in my score next month. I am giving you this background to ask you: do you think it's worth it to go for the 10% back card, even though I'd really only use it for the next three months? After the 90 day period it goes to 1%. I normally use the Freedom for gas (5% when it's that time of the year) and buy all my groceries with the BCP, although I have already exhausted $3000 or the $6000 that is yearly allowed toward the 6%. If you were me, would you sit tight in the garden or go for it? BTW I have 1 inq that will drop off this month, another that will drop off next month, and then 5 that will drop off in August. Thoughts?


Um i would jump all over that one.. 10% on pharmacy?!?! thats an easy $1500.00 cash back over the  3 months without really trying if you know what your doing..  That is one heck of a sign up bonus.. I am jealous!

Message 4 of 23
Contributor

Re: Would you hit that? (10% cash back)

After August I'll have 1 inq left...

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Message 5 of 23
Valued Contributor

Re: Would you hit that? (10% cash back)

It it's no limit, and you will exhaust your BCP cap, then maybe.  Also consider:

 

http://creditcards.citicards.com/usc...EF13609C9B954D

 

5x points off groceries/gas/drugstores for 12 months.   Or yours first, then 90 days later this!

Message 6 of 23
Contributor

Re: Would you hit that? (10% cash back)

Thanks for the advice, I really appreciate it!

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Message 7 of 23
Super Contributor

Re: Would you hit that? (10% cash back)


severine wrote:

I just received an offer from my former bank--Citizen's--for a Cash Back Visa that has a 10% cash back for 90 days on groceries, gas and pharmacy purchases. As you can see from my sig I have 10 cards at the moment and only really use the BCP, Freedom, US Bank and Amex PRG. At any given moment I have a small balances on these and PIF at the end of the month. I just made a huge $17,000 payment to my student loans which brings that total down to $59,000 (from a high of $135,000--yes, it can be done) and paid off my BCP which had a $2800 balance, so I am hoping to see a bump in my score next month. I am giving you this background to ask you: do you think it's worth it to go for the 10% back card, even though I'd really only use it for the next three months? After the 90 day period it goes to 1%. I normally use the Freedom for gas (5% when it's that time of the year) and buy all my groceries with the BCP, although I have already exhausted $3000 or the $6000 that is yearly allowed toward the 6%. If you were me, would you sit tight in the garden or go for it? BTW I have 1 inq that will drop off this month, another that will drop off next month, and then 5 that will drop off in August. Thoughts?


Are there any caps?

if i am even 1/2 as bothered enough to abuse rewards as those guys on flyertalk forums, i would sign up, and spend the next 30 days in CVS buying vanilla reloads.

Even if this bank close the account after that (assuming you don't care about your relationship with them), the rewards are well worth it Smiley Very Happy

just joking lol.

 

i wouldn't apply if i were u.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 8 of 23
Valued Contributor

Re: Would you hit that? (10% cash back)


enharu wrote:


Are there any caps?

if i am even 1/2 as bothered enough to abuse rewards as those guys on flyertalk forums, i would sign up, and spend the next 30 days in CVS buying vanilla reloads.

Even if this bank close the account after that (assuming you don't care about your relationship with them), the rewards are well worth it Smiley Very Happy

just joking lol.

 

i wouldn't apply if i were u.


Why not?  10% on pharmacy is probably 8% more than most other cards, 10% on groceries and gas certainly is 4/5% more, and will prevent the BCP cap being used up during those 90 days.  Most CVS won't now allow you to buy VR with credit cards, but there is plenty of other not-to-abusive stuff to buy, and the groceries and gas seem to make this an easy decision.

Message 9 of 23
Contributor

Re: Would you hit that? (10% cash back)

Oh wow I was hoping "Vanilla Reload" was some kind of kooky drug à la blizzard but I just googled it and I see that it isn't!

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Message 10 of 23