topic How does Double Cash work with Rewards+ and SYWPs? in Credit Cards

How does Double Cash work with Rewards+ and SYWPs?

MoneyBurns — Thu, 22 Oct 2020 16:02:14 GMT

So I read a few comments on Doc that one could potentially get pretty high return in gift cards using

Double Cash

Rewards+

Sears Mastercard

How does the non annual fee trifecta work? Is it worth doing?

Thank you!!!!

Re: How does Double Cash work with Rewards+ and SYWPs?

coldfusion — Thu, 22 Oct 2020 16:17:28 GMT

The trifecta assumes that you're earning TYP and pooling them into a single TYP account. Easy enough to do with the DC and Rewards+ but if you don't already have a TYP-earning Sears Mastercard you're SOL as Citi stopped allowing product changes to that specific version of the Sears Mastercard about October 2019.

You can pool Rewards+ and DC TYP into a single pool and convert the TYP to SYW points, I would assume there wouldn't be an issue if they were deposited in the same pool as your SYW earnings.

Re: How does Double Cash work with Rewards+ and SYWPs?

coldfusion — Thu, 22 Oct 2020 16:19:49 GMT

I meant to say "I believe you can" because while I know that a TYP earning Sears card can convert TYP to SYW points I don't know if that is still doable with a SYW-earning card.

Re: How does Double Cash work with Rewards+ and SYWPs?

MoneyBurns — Thu, 22 Oct 2020 16:38:31 GMT

I have the Sears Mastercard but it only earns SYWPs.

I don't know how that would be different to using it to get gift cards? This feels awfully confusing. I read that one could get 2.6% return if done right (10% from Rewards+) and then 20% bonus when transferring TYPs to SYWPs.

It seems like a lot of steps. The only valuable card I see there is Wal-Mart gift cards, I buy my prescriptions there.

Is the advantage much better than using say, PayPal Mastercard to get straight cash back?

Does anyone have arguments for one side ir the other?

Re: How does Double Cash work with Rewards+ and SYWPs?

coldfusion — Thu, 22 Oct 2020 18:01:10 GMT

There's little real effort with the PP Mastercard - you can transfer the cashback to your PayPal account and from there you have multiple redemption options including to an account at your preferred bank/CU, without any mininum redemption.

Much of the value proposition with the Citi cards comes from being able to efficiently leverage those categories that get you more than 2% in value back.

Citi has for the last 3+ years been offering targeted promotions on the Sears Mastercards ranging from 5% to 25% back, the majority in TYP but also frequently in SYW or just straight cashback, on either unstructured or categorized spend which can be quite lucrative if you're a cardholder they extend frequent offers to.

Re: How does Double Cash work with Rewards+ and SYWPs?

Anonymous — Thu, 22 Oct 2020 18:20:09 GMT

Sorry I missed out on the Sears TYP card.

The Citi trifecta with DC, Rewards+ and Premier is pretty good. With transfer partners, points are worth 1.7 cents on average. With the 10% rebate, that means:

5.66% on restaurants, groceries, gas, airfare, hotels & OTA plus 3.77% everywhere else for $95 a year with chance to get that $95 back on a $500 hotel stay booked through Citi's portal.

Re: How does Double Cash work with Rewards+ and SYWPs?

MoneyBurns — Thu, 22 Oct 2020 18:58:30 GMT

Now I'm itching to apply for a Citi DC. I have the Citi Rewards+, and a SYW Sears MC. It earns SYWPs.

I'm on the fence! I need some talking out of applying. 😐 it would be for the D.C. Does the 2.6% work if you only have the SYW version and not the TYPs version of the Sears MC?

I already have a PayPal MC.

I feel like I'm losing out on cash....someone talk me outta this please. 😭