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I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

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Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

Penfed PCR card has no min redemption threshold as well and 2% or 1.5% if you don't have at least 500  in checking.. Since they are my main FI institution obviously this isn't an issue for me.  Just anohter option.  Weird thing is I use my Citi DC more than my PCR for some reason though, but redeem every month or two on my DC depending on what i have bills/spend on non-cat for that month or two.

Message 21 of 29
Mega Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them


@dajusha wrote:

If you redeem 2,500 points for statement credit, you will get $12.50” 

 

There is no problem before this sentence, but I don't know how you got this sentence.
It seems that you redeem 2,500 points for statement credit, you should get $25.

 


Do you have the card?   I do!   When I go to rewards, for statement credit "5000 points = $25 Dollar Value of Reward"   (to use their strange wording)

 

And even from the public web site:

 

The 2% cash back rewards value applies only to Points redeemed for a deposit into an eligible Fidelity account. The redemption value is different if you choose to redeem your Points for other rewards such as travel options, merchandise, gift cards, and/or statement credit

 

It is different, and in fact for statement credit it is halved!  2500 points gives you $12.50

 

If you got $25, there is no incentive to deposit to Fidelity, just take the statement credit and put the $25 saved in your Fidelity account.   But that's not how it works.

Message 22 of 29
Established Member

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

What the...

 

Thank you for explaining this, now I know that I think they are too kind.

Message 23 of 29
Mega Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them


@dajusha wrote:

What the...

 

Thank you for explaining this, now I know that I think they are too kind.


This isn't unique.   The Venture card points give full value when redeemed for travel, for other things the value is halved.   Same sort of thing for MRs, differerent types of redemption (such as use at Amazon or statement credit) give much lower value than others.

Message 24 of 29
Senior Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

Keep in mind...

If you already have a 1.5% card, adding a new card with a $500 bonus (and modest minimum spend) beats adding a new no-bonus 2% card for the first ~$100,000 of off-category spend.
Spend: BofA Premium, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Marriott Brilliant, Delta Platinum
SD/AAoA Ballast: Arrival, CFU, DC, ED
Downgrading in 2020: BCP, Savor
May eventually add: 100k Platinum (for a year, then PC to Gold), BofA Cash Rewards, Virgin Atlantic.
Message 25 of 29
Frequent Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

Quote, "Citi DC - $25 minimum redemption, you lose the 1% when you apply it as a statement credit, other Citi annoyances..."

 

Wait. What? They claw back half your cashback if you redeem as a statement credit?

 

What's in my wallet? Amex Blue Business Cash | Amex Blue Cash Preferred | Capital One Quicksilver | Chase Freedom | Discover It
What garden? 2019
FICO 8 Scores: EQ 833 / EX 804 / TU 819
Message 26 of 29
Mega Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them


@plaidington wrote:

Quote, "Citi DC - $25 minimum redemption, you lose the 1% when you apply it as a statement credit, other Citi annoyances..."

 

Wait. What? They claw back half your cashback if you redeem as a statement credit?

 


No, it's a very minor loss.   Basically as you don't pay for the portion paid for by the credit, you don't get the 1% on this.   So you lose 1% of 2% which is very small.   But better to do an ACH transfer anyway and keep it all.



 

Message 27 of 29
Established Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them

You can have any problems with any card, really. Never had a single problem with PayPal MC. It might depend on your usage, but generally, I try to dodge usage that would make me have to deal with Synchrony. If there is a high-risk purchase I would make, I'd usually use one of my other cards (like the QS). I never use it online UNLESS it is through PayPal.

 

One of the things people overlook about this card is its lack of both AF and FTF. This is one of my default cards outside the US.




Message 28 of 29
Frequent Contributor

Re: I dont have Citi double cash card or Alliant Visa Platinum card, but still have intrest on them


@longtimelurker wrote:

@plaidington wrote:

Quote, "Citi DC - $25 minimum redemption, you lose the 1% when you apply it as a statement credit, other Citi annoyances..."

 

Wait. What? They claw back half your cashback if you redeem as a statement credit?

 


No, it's a very minor loss.   Basically as you don't pay for the portion paid for by the credit, you don't get the 1% on this.   So you lose 1% of 2% which is very small.   But better to do an ACH transfer anyway and keep it all.



 


OK I *think* I get it. You don't lose half tof the 1% and 1% making it a 1% cashback card if you redeem w/ a statement credit...

You lose 1% of your cashback balance if you redeem thru a statement balance. For instance if you have a balance of $200 cash back and you redeem all of it, you will lose 1% of the $200 which is $2?

 

What's in my wallet? Amex Blue Business Cash | Amex Blue Cash Preferred | Capital One Quicksilver | Chase Freedom | Discover It
What garden? 2019
FICO 8 Scores: EQ 833 / EX 804 / TU 819
Message 29 of 29
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