topic Re: Citi Double Cash: How to Use Question in Credit Cards

Citi Double Cash: How to Use Question

Anonymous — Sun, 18 Feb 2018 13:01:22 GMT

Can I charge the card and pay off that charge before that same billing statement closes and still get the 1% for the purchase and 1% to pay it back? (2 percent total)

I typically let billing periods close first but I don’t want to close this cycle at over 30% usage on this card.

Re: Citi Double Cash: How to Use Question

AverageJoesCredit — Sun, 18 Feb 2018 13:07:09 GMT

Yes you can

Re: Citi Double Cash: How to Use Question

HeavenOhio — Sun, 18 Feb 2018 13:49:32 GMT

You'll actually get your 1% cash back more quickly if you pay off your balance before the statement cuts. If you wait, the cash won't come back until the next statement.

Also, when you redeem your rewards, redeem them into a bank account rather than taking a statement credit. A statement credit reduces the value of your rewards as it doesn't count as a "payment."

Re: Citi Double Cash: How to Use Question

coldfusion — Sun, 18 Feb 2018 14:20:03 GMT

@HeavenOhiowrote:

Also, when you redeem your rewards, redeem them into a bank account rather than taking a statement credit. A statement credit reduces the value of your rewards as it doesn't count as a "payment."

Doesn't really matter if you're going to PIF and don't use the card much such that the 1% back isn't meaningful, but you're correct that if one is carryihg a balance they're still required to organically pay at least the monthly minimum. The reward can only be applied against whatever balance is left after the minimum payment is made.

Re: Citi Double Cash: How to Use Question

Anonymous — Sun, 18 Feb 2018 14:44:36 GMT

@coldfusionwrote:
@HeavenOhiowrote:

Also, when you redeem your rewards, redeem them into a bank account rather than taking a statement credit. A statement credit reduces the value of your rewards as it doesn't count as a "payment."
Doesn't really matter if you're going to PIF and don't use the card much such that the 1% back isn't meaningful, but you're correct that if one is carryihg a balance they're still required to organically pay at least the monthly minimum. The reward can only be applied against whatever balance is left after the minimum payment is made.

I use Amazon Card for 5% on Amazon, Cash+ for 5% Cell Phone & 5%Utilities. I use the Double Cash for everything else which is to $1-$3k a month.

~est per month: $18 Cash+(apprx $360), $10 Amazon (apprx $200),$30 Double Cash (apprx:$1500)= $58/month or $696/year

I had a $500 statement balance and I paid in full already this month for it but I've ran so many charges on this card this month I didn't want the cycle to end and it to report at a high balance but I still want to get the 2% total Cash Back.

Re: Citi Double Cash: How to Use Question

Kforce — Sun, 18 Feb 2018 17:07:18 GMT

@Anonymouswrote:
Can I charge the card and pay off that charge before that same billing statement closes and still get the 1% for the purchase and 1% to pay it back? (2 percent total)

I typically let billing periods close first but I don’t want to close this cycle at over 30% usage on this card.

Yes : If you only pay the current posted balance on the web page. Pay from the web page by pulling from your checking it will only allow you to pay up to the current balance. (Safe). The fine print says only 4 payments per month so you should not pay more than once a week. After a cyle or so it will credit payments at the time you make them. (Makes it easy to pay at the last moment). * (Don't remember but it seams like the first couple of months you might be limited to 1 payment, and payments take a few days)

Yes : If you need to pay more than 4-times, you can push from you bank, however do not push more than the posted balance

No: If you pre-pay by pushing money from you checking to the bank, and it post prior to the charges posting to the account. (You will lose the 1%). This is one CC you do not want to ever push extra money too for the purpose of controlling "Util".

Re: Citi Double Cash: How to Use Question

SouthJamaica — Sun, 18 Feb 2018 17:30:13 GMT

@Anonymouswrote:
Can I charge the card and pay off that charge before that same billing statement closes and still get the 1% for the purchase and 1% to pay it back? (2 percent total)

I typically let billing periods close first but I don’t want to close this cycle at over 30% usage on this card.

You will get your points whenever you pay and whenever you charge. They don't get credited until the next statement though.

And one thing to watch out for: if you redeem your cash as a statement credit they don't give you credit for it as a payment, so you should always redeem your points by a different method... direct deposit or check.

Re: Citi Double Cash: How to Use Question

Anonymous — Mon, 19 Feb 2018 10:31:42 GMT

@Kforcewrote:
@Anonymouswrote:
Can I charge the card and pay off that charge before that same billing statement closes and still get the 1% for the purchase and 1% to pay it back? (2 percent total)

I typically let billing periods close first but I don’t want to close this cycle at over 30% usage on this card.
Yes : If you only pay the current posted balance on the web page. Pay from the web page by pulling from your checking it will only allow you to pay up to the current balance. (Safe). The fine print says only 4 payments per month so you should not pay more than once a week. After a cyle or so it will credit payments at the time you make them. (Makes it easy to pay at the last moment). * (Don't remember but it seams like the first couple of months you might be limited to 1 payment, and payments take a few days)

Yes : If you need to pay more than 4-times, you can push from you bank, however do not push more than the posted balance

No: If you pre-pay by pushing money from you checking to the bank, and it post prior to the charges posting to the account. (You will lose the 1%). This is one CC you do not want to ever push extra money too for the purpose of controlling "Util".

I never knew about the 4 payment thing. I pay 6-10 times every month and, so far, without issue. These are all "pull" payments through the Citi site, not "push" payments.

Maybe they just say that to discourage that type of behavior (I've noticed Discover gives some type of warning about a bunch of payments too, but it never seems to matter). I can see why maybe they wouldn't want people to do it this way, but at the end of the day, they are just getting paid for the money owed.

Re: Citi Double Cash: How to Use Question

Kforce — Mon, 19 Feb 2018 19:22:27 GMT

@Anonymous
I never knew about the 4 payment thing. I pay 6-10 times every month and, so far, without issue. These are all "pull" payments through the Citi site, not "push" payments.

Maybe they just say that to discourage that type of behavior (I've noticed Discover gives some type of warning about a bunch of payments too, but it never seems to matter). I can see why maybe they wouldn't want people to do it this way, but at the end of the day, they are just getting paid for the money owed.

Good "Data Point". Nice to know that they are not enforcing this policy.

I find it so easy to pay last moment from Citi's web page that I never pay more that 2 times in a month.

I pay a couple days before statement cuts, and a few days after to cover any pending that posted.

Re: Citi Double Cash: How to Use Question

MakingProgress — Tue, 20 Feb 2018 22:13:06 GMT

@Anonymous
I use Amazon Card for 5% on Amazon, Cash+ for 5% Cell Phone & 5%Utilities. I use the Double Cash for everything else which is to $1-$3k a month.

Wait What? 5% Cell phone and 5% utilities? Is this the Chase Amazon Prime Rewards Visa? I just got one and don't recall seeing that in the rewards program.

Now back to the DC. I just got one of those too, so if I push a payment from my bank to cover a pending transaction and my payment posts before the purchase I will not get the 1% for payment but I still get the 1% for purchase or do I lose both?

Re: Citi Double Cash: How to Use Question

Anonymous — Wed, 21 Feb 2018 03:27:42 GMT

You can.

Re: Citi Double Cash: How to Use Question

HeavenOhio — Wed, 21 Feb 2018 06:06:43 GMT

@MakingProgresswrote:
@Anonymous
I use Amazon Card for 5% on Amazon, Cash+ for 5% Cell Phone & 5%Utilities. I use the Double Cash for everything else which is to $1-$3k a month.
Wait What? 5% Cell phone and 5% utilities? Is this the Chase Amazon Prime Rewards Visa?

The Cash+ card offers the cell phone and utility reward.

Re: Citi Double Cash: How to Use Question

MakingProgress — Wed, 21 Feb 2018 12:38:11 GMT

@HeavenOhiowrote:
@MakingProgresswrote:
@Anonymous
I use Amazon Card for 5% on Amazon, Cash+ for 5% Cell Phone & 5%Utilities. I use the Double Cash for everything else which is to $1-$3k a month.
Wait What? 5% Cell phone and 5% utilities? Is this the Chase Amazon Prime Rewards Visa?
The Cash+ card offers the cell phone and utility reward.

Ah missed the Cash+ in the quoted text, thanks for pointing it out.

Re: Citi Double Cash: How to Use Question

EAJuggalo — Sun, 25 Feb 2018 15:02:12 GMT

If you pay multiple times per month they can stop instantly crediting your account. They put a 10 business day hold on a payment that was the third one I made in a statement period for the same amount.

Re: Citi Double Cash: How to Use Question

MrDisco99 — Sun, 25 Feb 2018 17:02:48 GMT

@MakingProgresswrote:
@Anonymous
I use Amazon Card for 5% on Amazon, Cash+ for 5% Cell Phone & 5%Utilities. I use the Double Cash for everything else which is to $1-$3k a month.

Wait What? 5% Cell phone and 5% utilities? Is this the Chase Amazon Prime Rewards Visa? I just got one and don't recall seeing that in the rewards program.

Now back to the DC. I just got one of those too, so if I push a payment from my bank to cover a pending transaction and my payment posts before the purchase I will not get the 1% for payment but I still get the 1% for purchase or do I lose both?

You would get 1% for the purchase, but lose out on the other 1% because you never actually pay for that purchase (it's covered by the credit balance). Any payment amount that results in a credit balance does not get 1%. Only pay for transactions that have posted.

Re: Citi Double Cash: How to Use Question

Kforce — Sun, 25 Feb 2018 17:55:32 GMT

@EAJuggalowrote:
If you pay multiple times per month they can stop instantly crediting your account. They put a 10 business day hold on a payment that was the third one I made in a statement period for the same amount.

I believe something else might have triggered the hold.

When I first got my card I looked into this payments issue and found in the fine print 4 times a month, so with a low "CL" I payed once a week with no problems. Over time my CL went up and I now pay 2x a month (control util.). (PapasChileHuevo ): pays 6-10 times a month with no problems.

I decided to log-in and see if I could find the 4 per month that I found years ago. Today on the Citi-DC pages. It looks like you can make payments every day, except on new accounts or if you make changes to account linking for payments.