topic Which cards make you wait until statement generates to receive rewards? in Credit Cards

Which cards make you wait until statement generates to receive rewards?

Anonymous — Wed, 16 Sep 2015 22:41:35 GMT

I've read that Citi Double cash makes you wait for a statement to generate, and then pay that statement off to get the full 2%.

Is this true? And are there any cards that make you do this? I'd imagine it ruins util % for a lot of people...

Re: Which cards make you wait until statement generates to receive rewards?

kdm31091 — Wed, 16 Sep 2015 23:21:51 GMT

What does waiting for rewards have to do with utilization? Most banks require waiting for the statement. Amex, chase and discover also only update at statement cut.

Regardless of whether the Citi balance actually cuts on the statement, the purchase amounts are tracked and you get the 2% either way after paying so the utilization comment doesn't apply.

Re: Which cards make you wait until statement generates to receive rewards?

Anonymous — Wed, 16 Sep 2015 23:37:58 GMT

That's what I love about the Quicksilver card. My rewards are posted as soon as the charge clears. Love that!

Re: Which cards make you wait until statement generates to receive rewards?

14Fiesta — Wed, 16 Sep 2015 23:38:15 GMT

With the DC card, if you PIF before the statement cuts then you will get credited for the full 2% on the statement.

Re: Which cards make you wait until statement generates to receive rewards?

Anonymous — Wed, 16 Sep 2015 23:49:22 GMT

I think when the double cash first came around there were some reports (no idea if they were true or not) of people only getting the second 1% on amounts that actually posted on the statement date....these reports we either fixed quickly, limited to a few people, or just not true...you are fine to pif and not worry about anything you read about it

Re: Which cards make you wait until statement generates to receive rewards?

Anonymous — Thu, 17 Sep 2015 03:36:35 GMT

Citi DC has an internal "Purchase Tracker" which you cannot see. When a transaction fully posts (is no longer pending), that amount is added to this tracker. As long as the tracker value is equal to or more than the amount of a payment, you will earn the second 1% when you pay. The tracker is then reduced by the amount of the payment.

In other words, as long as you dont make a payment for a transaction before it FULLY posts (is no longer pending), you will be OK.

I think the inability to see the actual tracker has caused some people to think you cannot pay before the statement cuts. You can, just dont pay for a purchase before it completely posts.

Oh, and NFCU cashRewards adds the rewards to your cash rewards bucket as soon as the transaction clears. No waiting. You can redeem them instantly for any amount.

EDIT: Changed "equal to or less than" to "equal to or more than"

Re: Which cards make you wait until statement generates to receive rewards?

Anonymous — Thu, 17 Sep 2015 00:38:53 GMT

@Anonymous wrote:
Citi DC has an internal "Purchase Tracker" which you cannot see. When a transaction fully posts (is no longer pending), that amount is added to this tracker. As long as the tracker value is equal to or less than the amount of a payment, you will earn the second 1% when you pay. The tracker is then reduced by the amount of the payment.

In other words, as long as you dont make a payment for a transaction before it FULLY posts (is no longer pending), you will be OK.

I think the inability to see the actual tracker has caused some people to think you cannot pay before the statement cuts. You can, just dont pay for a purchase before it completely posts.

Oh, and NFCU cashRewards adds the rewards to your cash rewards bucket as soon as the transaction clears. No waiting. You can redeem them instantly for any amount.

Alright this clears it up for me.

Adding to the topic, does citi let you pay when it's pending? Otherwise I don't see how that could be an issue for some people.

Re: Which cards make you wait until statement generates to receive rewards?

14Fiesta — Thu, 17 Sep 2015 01:50:04 GMT

@Anonymous wrote:
@Anonymous wrote:
Citi DC has an internal "Purchase Tracker" which you cannot see. When a transaction fully posts (is no longer pending), that amount is added to this tracker. As long as the tracker value is equal to or less than the amount of a payment, you will earn the second 1% when you pay. The tracker is then reduced by the amount of the payment.

In other words, as long as you dont make a payment for a transaction before it FULLY posts (is no longer pending), you will be OK.

I think the inability to see the actual tracker has caused some people to think you cannot pay before the statement cuts. You can, just dont pay for a purchase before it completely posts.

Oh, and NFCU cashRewards adds the rewards to your cash rewards bucket as soon as the transaction clears. No waiting. You can redeem them instantly for any amount.
Alright this clears it up for me.

Adding to the topic, does citi let you pay when it's pending? Otherwise I don't see how that could be an issue for some people.

They let you pay something like 7.5% over the current balance. Also this could be an issue if people are using bill pay to push payments onto their Citi card.

Re: Which cards make you wait until statement generates to receive rewards?

icyhot — Thu, 17 Sep 2015 02:48:19 GMT

I was able to pay on Citi while the payments was pending and just had a negative balance, but I have a Citi checking account

Re: Which cards make you wait until statement generates to receive rewards?

Anonymous — Thu, 17 Sep 2015 04:01:33 GMT

@14Fiesta wrote:
@Anonymous wrote:
@Anonymous wrote:
Citi DC has an internal "Purchase Tracker" which you cannot see. When a transaction fully posts (is no longer pending), that amount is added to this tracker. As long as the tracker value is equal to or less than the amount of a payment, you will earn the second 1% when you pay. The tracker is then reduced by the amount of the payment.

In other words, as long as you dont make a payment for a transaction before it FULLY posts (is no longer pending), you will be OK.

I think the inability to see the actual tracker has caused some people to think you cannot pay before the statement cuts. You can, just dont pay for a purchase before it completely posts.

Oh, and NFCU cashRewards adds the rewards to your cash rewards bucket as soon as the transaction clears. No waiting. You can redeem them instantly for any amount.
Alright this clears it up for me.

Adding to the topic, does citi let you pay when it's pending? Otherwise I don't see how that could be an issue for some people.
They let you pay something like 7.5% over the current balance. Also this could be an issue if people are using bill pay to push payments onto their Citi card.

Got it. Thanks for the helpful explanation!