topic Re: Regret getting double cash card. in Credit Cards

Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 01:32:19 GMT

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.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 01:37:10 GMT

This has been a gripe of DC cardholders for a while now. For those that PIF right away every time and don't mind getting their rewards in increments (like Amex) it isn't a big deal... but some simply like the immediate CB opportunity like the QS you mentioned, Blispay, etc.

Re: Regret getting double cash card.

creditfan — Wed, 14 Dec 2016 01:41:14 GMT

your 2% cashback is here https://www.firstnational.com/site/personal/credit-card/visa/visa-cashback.fhtml

Re: Regret getting double cash card.

BirchBarlow — Wed, 14 Dec 2016 01:50:47 GMT

With the reward structure, the bonus malls, and purchase/price protection benefits, the Discover and Freedom Unlimited both offer more value than Citi DC. The DC only sounds better because it's a 2% flat rate. I also wish I hadn't burned an inq on Citi DC, it's turned out to be my least valuable card, but oh well live and learn.

Re: Regret getting double cash card.

SunriseEarth — Wed, 14 Dec 2016 01:53:30 GMT

With low SLs, high APRs, and a less-than-ideal rewards program, there's definitely a few people who have issues with Citi DC. I use it right now as my non-category spend, but only because I use my Blispay for promo purchases. Once my promos are cleared, I may return to using Blispay for gen spend.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 01:56:22 GMT

Does it really matter when you get rewards as long as you're getting them? But yeah that card has never really been that appealing to me either..

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 02:06:13 GMT

It is one of my least favorite cards. Discover is soooo much better and so is Bank of America Rewards if you have a Benk of America account. I get from $30-$50 a month on Discover and about $30 monthly on my BofA Rewards. All my rewards go into savings. This has been a very good year. I am re-evaluating my cards as to value and DC is close to the bottom. Just my two cents. Everyone has a different point of view.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 02:32:21 GMT

@SunriseEarth wrote:
With low SLs, high APRs, and a less-than-ideal rewards program, there's definitely a few people who have issues with Citi DC. I use it right now as my non-category spend, but only because I use my Blispay for promo purchases. Once my promos are cleared, I may return to using Blispay for gen spend.

I got a low 5700 SL and the 13 APR, but damnit i shouldnt have pulled the trigger.

Re: Regret getting double cash card.

kdm31091 — Wed, 14 Dec 2016 02:53:30 GMT

I'm not the most patient, so for me the DC structure is annoying because unless you pay before your statement closes, it will be two months before you get your 2%. Others have that view of "who cares, as long as you eventually get the 2%?". Neither view is wrong but I could see why the structure annoys someone.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 02:57:32 GMT

I prefer to redeem in amounts of $100 or more, as it feels like Im actually getting something back.. so the increments don't bother me.. I also dont really care if I've got to wait an extra billing cycle..as long as I get them.. That said, I love my DC.. it's my non-cat spend card.. my recurring bills go on my PCMCU Plat Rewards @5% up to $1k/mo, I use the rest of my cards for categories that either stay the same or rotate based on the card, and the DC for everything else.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 02:59:02 GMT

..but Ive heard those complaints as well. To each their own I guess.

Re: Regret getting double cash card.

jacetx — Wed, 14 Dec 2016 03:21:18 GMT

It's not any worse than the BCE/BCP from Amex, I have both. However, I do like the Cash Rewind. I bought an iMac as a gift before thanksgiving, on black friday it went on sale so it wasn't eligible for the best buy price match, about a week later Citi refunded me $150. This card lives in my wallet.

Re: Regret getting double cash card.

Sharingan — Wed, 14 Dec 2016 03:44:12 GMT

I agree with jace. Actually, something I have noticed for a while now when reading complaints about the Citi Double Cash is how people fault the reward structure while electing to be purposefully oblivious or genuinely unaware that other cards in their possession have very similar or worse restrictions for rewards. Some of those cards may not only have $25 or even $50 minimum redemption thresholds, but also $25 increments and/or delayed/nontransparent rewards accumulation. Subsequently, I don't see why the DC's $25 minimum causes so much angst for them.

Regardless, I don't mind when I get my rewards as long as I do eventually get them. I don't need cash back rewards to supplement income, so it would probably annoy me to cash out more frequently than I do now. It certainly pays to be patient as a .5% cash back penalty for having rewards -now- with the QS for domestic purchases wouldn't be a good deal for me. I actually prefer to carry my QS where the DC can't quite compete, and that's as a backup when traveling.

Re: Regret getting double cash card.

Revelate — Wed, 14 Dec 2016 03:44:24 GMT

It's a 2% default spender at $0 AF; at the time when it was released Fidelity was really the only other option for that for the vast majority of people (and limited offers are limited, aka JCB Makurai for multiple reasons as one such). For cashbackers it simply didn't suck albeit a bit awkward as has been noted.

Now there's a number of different 2% or better options that virtually everyone can obtain that don't have the same irritating structure so not much need to put up with it if bothers you.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 04:05:14 GMT

I love my DC. I don't care that the rewards are a montb behind. Yeah I'll use my Discover for Amazon and other cat spend as well as freedom if they have a cat and BCP for grocery, but for everything else 2℅ is higher than 1 right? Also, I don't mind the 25 min it's better than amex 25 increment. I used to cash out 4 or 5 dollars in rewards when I was new to credit but now I build it up more so it seems like something.

Re: Regret getting double cash card.

SouthJamaica — Wed, 14 Dec 2016 04:08:19 GMT

@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

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 04:12:46 GMT

@Revelate wrote:
It's a 2% default spender at $0 AF; at the time when it was released Fidelity was really the only other option for that for the vast majority of people (and limited offers are limited, aka JCB Makurai for multiple reasons as one such). For cashbackers it simply didn't suck albeit a bit awkward as has been noted.

Now there's a number of different 2% or better options that virtually everyone can obtain that don't have the same irritating structure so not much need to put up with it if bothers you.

Right, but people have complaints about some of the alternatives too. E.g. Blispay appears to have low max CL, no autopay and currently no CLI.

Re: Regret getting double cash card.

Anonymous — Wed, 14 Dec 2016 04:14:29 GMT

@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 have had a few SP CLIs on this card, same as my other Citi cards. While I agree QS is much simplier, DC does eventually give 33% more rewards. Which should count for something.

Re: Regret getting double cash card.

Sharingan — Wed, 14 Dec 2016 04:39:29 GMT

@Anonymous 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 have had a few SP CLIs on this card, same as my other Citi cards. While I agree QS is much simplier, DC does eventually give 33% more rewards. Which should count for something.

Yes, I have had SP CLIs on this card as well.

Back to my earlier post, how many of those complaints would actually apply to a number of the poster's other cards, yet this list is repeated over and over again only for the Double Cash? I wouldn't keep a card around this long with so many grievances.

Re: Regret getting double cash card.

Man-Of-Steel — Wed, 14 Dec 2016 06:38:17 GMT

@Sharingan wrote:
I agree with jace. Actually, something I have noticed for a while now when reading complaints about the Citi Double Cash is how people fault the reward structure while electing to be purposefully oblivious or genuinely unaware that other cards in their possession have very similar or worse restrictions for rewards. Some of those cards may not only have $25 or even $50 minimum redemption thresholds, but also $25 increments and/or delayed/nontransparent rewards accumulation. Subsequently, I don't see why the DC's $25 minimum causes so much angst for them.

Regardless, I don't mind when I get my rewards as long as I do eventually get them. I don't need cash back rewards to supplement income, so it would probably annoy me to cash out more frequently than I do now. It certainly pays to be patient as a .5% cash back penalty for having rewards -now- with the QS for domestic purchases wouldn't be a good deal for me. I actually prefer to carry my QS where the DC can't quite compete, and that's as a backup when traveling.

I agree with Sharingan, and really agree with the bold part. I acquired a Double Cash a few months ago through a product change and I'm happy with the card. Would I prefer it if the rewards posted for the full 2% when each transaction posted and would I prefer that there not be a redemption threshold? Of course I would. However, I'm not getting rich off of these rewards and I don't mind waiting for them to accumulate. Currently my DC is one of my main cards, so it gets a lot of use. This means that each time a statement cuts, new rewards are added for purchases and payments. Yes, they may be delayed rewards, but new rewards are added each statement cut, so it doesn't bother me.

I'll also add that I received 2 soft pull CLIs during the first 12 months that this card was a ThankYou Premier. This resulted in a nice CL and I also have a decent APR (around 14 something). Therefore, some of the 'negatives' in this thread don't apply to my card.

Personally, I think the no threshold redemptions really come in handy when the card in question gets very limited use or is pretty much a sock drawer card. My DC has effectively sent both of my Quicksilvers to the SD and that works out well because I use the Quicksilvers sparingly and the cash back doesn't get 'stuck' waiting to build up to a redemption threshold (which would take forever to reach $25 or whatever amount on each card). Again, with an active card like the DC, cash back is being added to the account monthly, so it is no big deal for me.