topic Re: Is my 3% cashback card worth it? in Credit Cards

Is my 3% cashback card worth it?

MercedesV — Wed, 09 Apr 2008 02:08:11 GMT

I have had my Associates Student MC since 11/00. I was not a big user of the card since it has had a $500 CL up until 2/08. It's now a whopping 950. Since it is now Citibank I tried to switch to another Citi card only to be told that it was impossible (BOA tells me the same thing about my student card with them).

I noticed in my rewards screen that I get 3% back on all purchases. It sounded good so I decided to make regular use of the card. I paid in full for the month only to have statement cut and no cash back!! I searched the net and found out the 3% is given only when you carry a balance. I thought about leaving a penny balance for the statement but I don't know how it will report. A penny won't hurt utilization but I don't want another account with a balance.

Does anyone know how this will report?

Thanks

Re: Is my 3% cashback card worth it?

Anonymous — Wed, 09 Apr 2008 03:19:55 GMT

@vbmaxx wrote:
I have had my Associates Student MC since 11/00. I was not a big user of the card since it has had a $500 CL up until 2/08. It's now a whopping 950. Since it is now Citibank I tried to switch to another Citi card only to be told that it was impossible (BOA tells me the same thing about my student card with them).
I noticed in my rewards screen that I get 3% back on all purchases. It sounded good so I decided to make regular use of the card. I paid in full for the month only to have statement cut and no cash back!! I searched the net and found out the 3% is given only when you carry a balance. I thought about leaving a penny balance for the statement but I don't know how it will report. A penny won't hurt utilization but I don't want another account with a balance.
Does anyone know how this will report?
Thanks

I don't think that $.01 would actually work to have it carry over. They would probably adjust it. I've played around with this and have had my CC's adjust as much as $1.00 when the statements cut. Have yet to try more.

Re: Is my 3% cashback card worth it?

haulingthescoreup — Wed, 09 Apr 2008 03:57:31 GMT

Wow, that stinks! Only if you carry a balance? Sounds like it's time to get a new card for cash back. You definitely have the scores --do you have any serious baddies on your reports, or any baddies at all for the last 18-24 months?

Both my PenFed Rewards Visa and Barnes & Noble MC are cash back cards, and the refund is posted on each statement. I'd do some hunting here for other cash back cards. You should be able to find one that treats you a bit better. Be sure to read all the way through, though --for instance, AmEx Blue Cash requires you to spend $6500 before the big rewards kick in, and after the end of 12 months, you have to start all over again.