stan_the_man said:
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Signing up quaterly for the bonuses is not ideal, but it's also not a deal breaker. My only concern is, do they offer the same category bonuses every quarter to choose from?
I can't find any public information that says exactly what they do. In fact this seems to suggest the opposite:
Also, they seem to have pretty narrow bonus categories. For example: Citi Forward restaurants include restaurants and fast food, while U.S. Bank seperates them into two groups (of which I only get to pick two per quarter). Similarly, other cards offer 2% (Chase Sapphire Preferred, Amex True Earnings) and 3% (Chase AARP) cash back on travel, but U.S. Bank seperates travel into several groups (i.e. hotels, airlines, car rental). Lastly, U.S. Bank charges a helfty 3% foreign transaction fee -- which reduces the utility of the travel bonuses.
None of that serves as a death knell for the card if you have a wallet full of options, you keep on top of the bonus selections, and know where your spending is going to spike for the next 90 days."
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I had a live chat with a rep at the website and I peppered her with many questions and that on about signing up for the same bonuses in consecutive periods was one of them. She doesn't see anything in the rules (YET) that would disallow card holders from re-using the same categories but I guess we will see.
As for the narrow categories, that is obviously a way of mitigating the rewards payouts at 5%. I can understand that. However, in your position with a Citi Forward, that removes two choices (both restaurant categories) that you don't have to make. It's actually kind of a good thing for you becaue you can spread your reach of 5% purchases.
Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
