DoubleCash to Custom Cash

[CreditCuriosity]

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@Taurus22 wrote:

Could also downgrade to a Diamond Preferred and PC from there...

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downgrade is still a product conversion.  assume card # would change on that as well

[Curious_George2]

FWIW, I did two PCs on different Citi cards last year, with the following results:

CashReturns to Double Cash. Card number didn't change. Account history preserved. No new account shown on reports. 

Diamond Preferred to Costco. Card number changed. Account history preserved. No new account shown on reports. 

[Taurus22]

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@CreditCuriosity wrote:

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@Taurus22 wrote:

Could also downgrade to a Diamond Preferred and PC from there...

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downgrade is still a product conversion.  assume card # would change on that as well

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Exactly, it's still a PC....but according to the link you showed me, the PC from the DC didn't require a card number change.  Was just offering another suggestion.....that card number change thing just bothers me. Feels like a new credit line....lol.  I'm going to discuss this with the Chat CSR tomorrow before I switch.....just to get it in a screenshot for my own personal assurance.

[Anonymous]

I've seen about every Citi card except Double Cash converted to custom cash. I do hope y'all way works. 

[Taurus22]

Ok.....so I just got off the phone with Citi and had a VERY interesting conversation with the CSR which led to some promising news. Maybe?

Obviously, I went through the normal steps of asking about the DC --> CC direct conversion, and was told that as of July 15 the PC had been approved.....however, there he said that there has been a "glitch" in their system that has not allowed the conversions to be done. This is why the CSR's have not had the ability to convert. So, since I hadn't heard that from any other CSR yet, I'm thinking that maybe this guy is just trying to "appease" the customer. But then again, he did mention that they have had many calls from many DC cardholders regarding this, so maybe that raised their attention to the issue?

At that point, I asked if all other Citi cards were able to be converted to the CC, other than Costco.....and he confirmed that was correct (except I think he also stated the Simplicity was not allowed?) After going through my explanation of doing the double-conversion (and I used DC --> Diamond Pref --> CC as an example with him, which he confirmed was possible) I told him that I was simply tangling with the idea of:

1) Waiting patiently for the DC --> CC conversion "glitch" to be fixed.....not having any direct expectation of when that may occur. (in essence, losing time on my clock with the 2x conversion)

2) Moving forward with the 2x conversion process (over 103 days) and starting the clock now, with a guarantee that I coud have the CC in-hand by the end of the year.

He did say that the conversion to the Diamond would be a difficult process (for whatever reason, I didn't ask why) and that he was going to speak to a supervisor and see what information he can get on the "glitch".

After a couple minutes he came back and said his supervisor explained to him that the "glitch" which was not allowing the direct conversion from DC --> CC would be 100% corrected by the end of August. If I could be patient and wait until that time, there should be no further issue with the conversion.

So, I again repeated back to him....."So, I can fully expect to be able to directly convert my DC --> CC on Sept. 1?" He said that is correct. So I told him ok, I would give it until Sept. 1 and if for any reason the conversion glitch is still not corrected I would move forward with the double-conversion at that time, as I didn't want to lose any more time on that 103 day clock.

Pretty interesting, huh?

[CreditCuriosity]

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@Taurus22 wrote:

Ok.....so I just got off the phone with Citi and had a VERY interesting conversation with the CSR which led to some promising news. Maybe?

Obviously, I went through the normal steps of asking about the DC --> CC direct conversion, and was told that as of July 15 the PC had been approved.....however, there he said that there has been a "glitch" in their system that has not allowed the conversions to be done. This is why the CSR's have not had the ability to convert. So, since I hadn't heard that from any other CSR yet, I'm thinking that maybe this guy is just trying to "appease" the customer. But then again, he did mention that they have had many calls from many DC cardholders regarding this, so maybe that raised their attention to the issue?

At that point, I asked if all other Citi cards were able to be converted to the CC, other than Costco.....and he confirmed that was correct (except I think he also stated the Simplicity was not allowed?) After going through my explanation of doing the double-conversion (and I used DC --> Diamond Pref --> CC as an example with him, which he confirmed was possible) I told him that I was simply tangling with the idea of:

1) Waiting patiently for the DC --> CC conversion "glitch" to be fixed.....not having any direct expectation of when that may occur. (in essence, losing time on my clock with the 2x conversion)

2) Moving forward with the 2x conversion process (over 103 days) and starting the clock now, with a guarantee that I coud have the CC in-hand by the end of the year.

He did say that the conversion to the Diamond would be a difficult process (for whatever reason, I didn't ask why) and that he was going to speak to a supervisor and see what information he can get on the "glitch".

After a couple minutes he came back and said his supervisor explained to him that the "glitch" which was not allowing the direct conversion from DC --> CC would be 100% corrected by the end of August. If I could be patient and wait until that time, there should be no further issue with the conversion.

So, I again repeated back to him....."So, I can fully expect to be able to directly convert my DC --> CC on Sept. 1?" He said that is correct. So I told him ok, I would give it until Sept. 1 and if for any reason the conversion glitch is still not corrected I would move forward with the double-conversion at that time, as I didn't want to lose any more time on that 103 day clock.

Pretty interesting, huh?

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Goof information indeed.  Hope this is true.  Continuing to go forward with mine as you echoed it will take about two months before I can convert to CC from my new AA card that was converted from the DC card.  Two months isn't really bad as of now even if I used my DC I would be earning AA miles.  So after AA is done I will do a PC and use AA card for CC rewards after next conversion even if don't have card in hand if that makes sense.  I have confirmed with MANY people now that is doesn't report as a new account although new account number to double cross my T's and dot my I's that have done many conversions with Citi in the past with and without new account #'s and history is intact and screen shots from them to validate it .  Anyways if it works you beat me basically by a month and I do hope it works not just for you, but for everyone in general.  Way I am going about it works or should work as well although a bit more of a PITA.  Anyways keep me up to date.  Thanks!

[Taurus22]

@CreditCuriosity  Will do.  I would be very interested to see if any other people may be able to call and get the same information from another CSR.....to essentially fact-check and see if we get the same response. If anyone out there does, please let us know if you confirm the same thing....

Good idea to double-check on that new card number too @CreditCuriosity .  With many confirmations, at least we know there's no threat of losing account age. Otherwise, I would have just cold-apped for the CC. I just wanted to repurpose an existing card sitting in my sock-drawer, rather than create a new credit line.

[JamP]

Going to be a MyFico flood of DC cards going to be converted as soon as they open the gates.

The DC card was great in its time but mediocre now, many straight 2% cards now.

If they made it 1.5% buy and 1.5% pay making it essentially a 3% card it would be on top again.

[Anonymous]

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@JamP wrote:

Going to be a MyFico flood of DC cards going to be converted as soon as they open the gates.

The DC card was great in its time but mediocre now, many straight 2% cards now.

If they made it 1.5% buy and 1.5% pay making it essentially a 3% card it would be on top again.

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I don't see why the DC is "mediocre now." With the exception of some niche credit union offerings, and the grandfathered USAA Limitless (which is no longer available to new applicants), 2% across-the-board with $0 AF remains the gold standard. It's true the DC doesn't stand alone in the 2% across-the-board/$0 AF category, but it remains one of the very few flat-rate 2%, $0 AF offerings that don't require joining a credit union or maintaining a qualifying bank account.

Here's a quick rundown of other $0 AF cashback cards that earn 2% back or more across the board.

• Alliant Credit Union: Earns 2.5% back. Requires the maintenance of an Alliant High-Rate Checking account with a minimum balance of $1,000 and (not or; and!) at least one monthly direct deposit into the checking account.
  • Another unique caveat: You start out earning only 1.5% for the first 3-6 months before you qualify to start earning 2.5% back (kind of a negative SUB). Due to Alliant's fixed quarterly review system for determining eligibility for 2.5% back, if you were to join Alliant now (in August) and immediately open an Alliant High-Rate Checking account, you'd still be stuck earning only 1.5% until January 1, 2022 (four and half months from now!).
• Fidelity: Earns 2% back. Requires a qualifying Fidelity account into which the cashback must be deposited in order to earn the full 2% back. Also, the card is issued by Elan, which some view as undesirable.
• Fifth Third: Earns 2% back. Requires a qualifying Fifth Third Preferred (not basic) bank account.
• PenFed: Earns 2% back. Requires either qualifying military service or a qualifying PenFed bank account.
• PayPal (PPMC): Earns 2% back. Requires a PayPal account into which the cashback must be deposited. Also, the card is issued by Synchrony, which some view as undesirable.
  • Another unique caveat: Unlike other Synchrony cards, the PayPal card can only be managed online by "clicking through" from PayPal's website, a clunky setup.
• FNBO: Earns 2% back. But the card is issued by FNBO, which some view as undesirable.
• SoFi: Earns 2% back. Requires a SoFi account.
• TD Double Up: Earns 2% back. Requires a TD Bank account into which the cashback must be deposited. Also, geofenced to customers in mostly East Coast states where TD has physical branch locations.
• WF Active Cash: Earns 2% back. But the card is issued by Wells Fargo, which some view as undesirable.
• Various small credit unions: A few local credit unions across the country offer 2+% back, $0 AF credit cards. The Texas-based RBFCU is a good example. The Florida-based MIDFLORIDA (yes, it's really all CAPS...) even offers a 2.5% back card. The Alabama-based AOD, most famously, offers a 3% back card. The common denominator here is that credit union membership is a requirement. Further, not all credit unions offer these cards. Joining a non-local credit union may not be possible (in the case of RBFCU and MIDFLORIDA). Even when possible (as in the case of AOD), it may not be desirable to join a distant credit union.

The Citi DC earns 2% and doesn't require a Citi bank account, which is a big plus for anyone looking for a cashback card but who isn't looking to open and maintain a new checking account.

If we prune the list of competing offerings to ones that, like the Citi DC, don't require opening a bank account or joining a credit union, we're left with only the WF Active Cash, the FNBO Evergreen, and arguably the PPMC (depending on whether one "counts" the requirement to open and maintain a PayPal account). Personally, apple-to-apple, I'd take Citi over WF, FNBO, or Synchrony any day and twice on Sundays*. Being one of the four 2% back across-the-board, $0 AF cards on the market that don't require the maintenance of a qualifying bank account/credit union membership isn't too shabby in my view.

*WF Active Cash has a very nice $200 SUB at the moment, so it's not quite "apple-to-apple" for now.

Back on topic, for folks looking to rely on only a few cards, the Custom Cash could work in tandem with a Citi DC (or WF Active Cash/FNBO Evergreen/PPMC) to enhance cash back in a single "heavy-spend" category. On the other end of the spectrum, for folks with a ton of cards looking to maximize their 5% cash back, the Custom Cash could be quite valuable as a "gap filler" in conjunction with cards that offer rotating-category 5% cash back.

In any case, with rare exceptions, it isn't optimal to rely on the Custom Cash alone, which is where the Citi DC's 2% catchall retains its value.

[Yasselife]

Thanks for sharing. I didn't know about AOD, 3% on everything? That's food for thought.