topic Re: Citi Forward in Credit Cards

Citi Forward

Anonymous — Wed, 02 Nov 2011 03:28:15 GMT

Hi all,

I did a search here, but couldn't find what I'm looking for. I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward. I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward. I thought 1 TY point was equivalent to about $0.60? Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.

What is the correct conversion to cash?

Re: Citi Forward

Anonymous — Wed, 02 Nov 2011 04:36:08 GMT

@Anonymous wrote:
Hi all,

I did a search here, but couldn't find what I'm looking for. I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward. I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward. I thought 1 TY point was equivalent to about $0.60? Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.

What is the correct conversion to cash?

For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

The conversion rate is 1.000 cent/point (5% of bonus categories) for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.

Re: Citi Forward

Anonymous — Wed, 02 Nov 2011 04:55:00 GMT

@Anonymous wrote:
@Anonymous wrote:
Hi all,

I did a search here, but couldn't find what I'm looking for. I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward. I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward. I thought 1 TY point was equivalent to about $0.60? Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.

What is the correct conversion to cash?
For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

The conversion rate is 1.000 cent/point (5% of bonus categories) for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.

Oh ok, thank you.

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.

Re: Citi Forward

UFGuy2006 — Wed, 02 Nov 2011 14:50:04 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Hi all,

I did a search here, but couldn't find what I'm looking for. I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward. I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward. I thought 1 TY point was equivalent to about $0.60? Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.

What is the correct conversion to cash?
For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

The conversion rate is 1.000 cent/point (5% of bonus categories) for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.
Oh ok, thank you.

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.

Make sure when you are discussing the product change with Citi that you will be getting the 5x bonus for the dining/bookstore/etc categories. From my experience, when I attempted do do a product change they were only going to give me 2x bonus as it was not a new application. The CSRs seem to go back and forth on this.

Re: Citi Forward

Anonymous — Wed, 02 Nov 2011 22:27:23 GMT

@UFGuy2006 wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Hi all,

I did a search here, but couldn't find what I'm looking for. I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward. I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward. I thought 1 TY point was equivalent to about $0.60? Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.

What is the correct conversion to cash?
For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

The conversion rate is 1.000 cent/point (5% of bonus categories) for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.
Oh ok, thank you.

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.
Make sure when you are discussing the product change with Citi that you will be getting the 5x bonus for the dining/bookstore/etc categories. From my experience, when I attempted do do a product change they were only going to give me 2x bonus as it was not a new application. The CSRs seem to go back and forth on this.

Thanks for the heads up about that. I'm probably going to call later in the week, but before I do, I just want to make sure I'm understanding this right. At restaurants the 5 TY points is essentially 3% cash back and 3.57% statement credit.

Re: Citi Forward

Anonymous — Thu, 03 Nov 2011 00:01:41 GMT

i'm not sure all the info in this thread is correct.

mortgage credit is 5%

student credit is 5%

most gift cards are over 4%, chilis right now is 5%

Re: Citi Forward

Anonymous — Thu, 03 Nov 2011 03:13:59 GMT

@Anonymous wrote:
i'm not sure all the info in this thread is correct.

mortgage credit is 5%

student credit is 5%

most gift cards are over 4%, chilis right now is 5%

mortgage/student credit 5% on restaurant purchases? I'm mostly trying to figure out if the exchange rate (to cash, or statement credit) is better than the 1% I already get with AMEX/Chase. All I know is $1 spent at a restaurant = 5TY points and judging from above it seems like 5TY points is equivalent to almost $0.04 on statement credit. So almost 4% back cash back.

Re: Citi Forward

Anonymous — Thu, 03 Nov 2011 08:45:57 GMT

Don't forget the 5x points on Amazon as well.

Re: Citi Forward

Anonymous — Thu, 03 Nov 2011 11:42:37 GMT

i guess i was giving you the 1-1 relationship on anything that is 5 TYP which for the 1-1 relationship equates to 5%.

that includes:

restaurant

books (amazon)

theater

video stores

record stores

some equivalencies are at 3.5% (cash, statement credit), most gift cards are 4.1% at a minimum if you use 10k TYP, other gift cards will be 5% (chilis) for 10k TYP, and then mortgage payback and student loan are 5% based on the 5 TYPs.

all of this can be seen on the thank you rewards page if you click around a bit.

personally i have a lot of CC's and probably almost every high end rewards card and i consider this to be a top 5 card easily. use the crap outta this puppy!

Re: Citi Forward

Anonymous — Thu, 03 Nov 2011 19:39:46 GMT

@Anonymous wrote:
i guess i was giving you the 1-1 relationship on anything that is 5 TYP which for the 1-1 relationship equates to 5%.

that includes:

restaurant
books (amazon)
theater
video stores
record stores

some equivalencies are at 3.5% (cash, statement credit), most gift cards are 4.1% at a minimum if you use 10k TYP, other gift cards will be 5% (chilis) for 10k TYP, and then mortgage payback and student loan are 5% based on the 5 TYPs.

all of this can be seen on the thank you rewards page if you click around a bit.

personally i have a lot of CC's and probably almost every high end rewards card and i consider this to be a top 5 card easily. use the crap outta this puppy!

This is the exact info I was looking for I will call and see if I can PC (and make sure i will get 5TY as if it was a new app) sometime soon! Will update!

Thanks!!