Citi custom cash benefits

[rgd51]

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@coldfusion wrote:

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@rgd51 wrote:

But won't chase be notified once I get an HP? This card would be more more lucrative to me than if I get a 2% card or one with rotating 5% categories. 

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Chase doesn't get notified when someone else makes an inquiry, they would learn about it when they did a routine account-review soft pull, and even then only if they pulled from the same CRA as the Citi inquiry.  If approved they would learn about the new account the same way, although there would be no hiding that as Citi reports to all 3 major CRAs.

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I have the chase amazom card currently and know that it is probably leaving chase. Would I get hit with a new account on my credit reports if that happens? If that is what happens then me getting the custom cash and having amazon go to another lender would hit my reports with 2 accounts in a short period of time.

[Anonymous]

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@rgd51 wrote:

But won't chase be notified once I get an HP? This card would be more more lucrative to me than if I get a 2% card or one with rotating 5% categories. 

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I think you're worrying too much. If issuers were that sensitive you would see all of us serial appers having problems too but really outside of Synchrony closures and the occasional Comenity twitchiness it's been pretty quiet. I have been known to get 3-4 cards in a single month and even when I had my BK reporting and much lower scores, the only AA I had was a CLD from Capital One on a card I hardly ever use. I'm not suggesting anyone do what I did but one card shouldn't be an issue. 

[rgd51]

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@Anonymous wrote:

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@rgd51 wrote:

But won't chase be notified once I get an HP? This card would be more more lucrative to me than if I get a 2% card or one with rotating 5% categories. 

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I think you're worrying too much. If issuers were that sensitive you would see all of us serial appers having problems too but really outside of Synchrony closures and the occasional Comenity twitchiness it's been pretty quiet. I have been known to get 3-4 cards in a single month and even when I had my BK reporting and much lower scores, the only AA I had was a CLD from Capital One on a card I hardly ever use. I'm not suggesting anyone do what I did but one card shouldn't be an issue. 

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Are you enjoying your custom cash card? How is the user interface compared to chase and cap one? I'm surprised this card has no minimum redemption like the double cash and has a SUB. Makes me wonder if big changes are in store for the double cash.

[Anonymous]

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@rgd51 wrote:

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@Anonymous wrote:

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@rgd51 wrote:

But won't chase be notified once I get an HP? This card would be more more lucrative to me than if I get a 2% card or one with rotating 5% categories. 

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I think you're worrying too much. If issuers were that sensitive you would see all of us serial appers having problems too but really outside of Synchrony closures and the occasional Comenity twitchiness it's been pretty quiet. I have been known to get 3-4 cards in a single month and even when I had my BK reporting and much lower scores, the only AA I had was a CLD from Capital One on a card I hardly ever use. I'm not suggesting anyone do what I did but one card shouldn't be an issue. 

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Are you enjoying your custom cash card? How is the user interface compared to chase and cap one? I'm surprised this card has no minimum redemption like the double cash and has a SUB. Makes me wonder if big changes are in store for the double cash.

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I don't have my card yet. Citi informed me it went in the mail Tuesday and should be here by next Friday. 

I love that Citi got rid of the minimum redemption and also made statement credit worth 1cpp. The same changes have been applied to my Rewards+ too, just checked. 

[rgd51]

Think they'll get rid of the minimum redemption requiment on the DC? The custom cash definitely has lucrative rewards when maxed out but I used to have 8 credit cards after my app spree but have since narrowed down to 3 ( chase FU with 10k CL, chase amazon visa with 4k CL, and Target Mastercard with 8k CL) since when I had a lot of cards it really stressed me out to keep track of that many accounts and making sure I put spend on each card and debating which card to use for each purchase. Now I've simplified it by using Target for Target, Amazon for Amazon and gas stations, and chase FU for everything else. Isn't 3 cards what fico scores favor the most? 

[Anonymous]

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@rgd51 wrote:

Think they'll get rid of the minimum redemption requiment on the DC? The custom cash definitely has lucrative rewards when maxed out but I used to have 8 credit cards after my app spree but have since narrowed down to 3 ( chase FU with 10k CL, chase amazon visa with 4k CL, and Target Mastercard with 8k CL) since when I had a lot of cards it really stressed me out to keep track of that many accounts and making sure I put spend on each card and debating which card to use for each purchase. Now I've simplified it by using Target for Target, Amazon for Amazon and gas stations, and chase FU for everything else. Isn't 3 cards what fico scores favor the most? 

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I would think that the lack of a redemption threshold would be across cards since you can combine TYP pool unless the DC actually requires you to redeem to TYP in batches of 2500 points since it's a dual cash back/TYP card. 

FICO scores stop seeing improvement beyond 3 cards but you can have more cards and still have an optimal score. The reason for the 3 cards is that TU and EX have a more than 50% of cards with a balance penalty and EQ has a more than 1/3 penalty so the logic is that 3 cards and only using one avoids the ding but having more cards avoids it too under the same 1/2 and 1/3 rules. 

[rgd51]

I know this is off topic but is the Amex cash magnet a good card? I feel it'd be very competitive if it was a 2% card and would probably be more popular than the DC and the new wells Fargo card.

[Anonymous]

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@rgd51 wrote:

I know this is off topic but is the Amex cash magnet a good card? I feel it'd be very competitive if it was a 2% card and would probably be more popular than the DC and the new wells Fargo card.

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The only reason I like that card is because it allows me to make my roommates AUs and I can choose a limit for them so each of them has one with a $200 limit. The rewards are subpar and the $25 minimum redemption means I would use my QS before the AMEX, especially since the QS has virtual credit cards too. AMEX offers are good if you like to spend money but I've been pretty frugal lately so I don't even find myself checking offers anymore. 

[rgd51]

Think Amex will increase it to 2% to compete with WF and citi?

[longtimelurker]

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@rgd51 wrote:

Think Amex will increase it to 2% to compete with WF and citi?

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I doubt if they see a need.   My guess is most people in the wider world aren't that sensitive to % cashback (it's just a card!)   And even here, I am often surprised that people select cards with suboptimal rewards for various reasons.    The Cash Magnet was quite popular here, despite 1.5% being so 1990s, with approving comments like "It's so pretty".    Yes, well so is a seven-day old decomposing rat corpse (to me anyway) but I don't carry one around in my wallet (not everyday anyway)