Minimum Redemption Levels for Cash Back - I don't like them!

[Closingracer99]

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@Anonymous wrote:

Thanks for responding, I'm glad there are probably a few folks that think about this the way I do.

And what you said about Citi DC taking a long time to post rewards is one of the other reasons why I recently stopped using the card and switched back to my Navy Federal CC.

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Long? It is after every statement which I am fine with .... HAd the card since June and made over $200 in CB since. I am probably going to make a lot less since I am now putting all my spending on my Amex hilton and Citi AA plat

[Closingracer99]

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@CluelessJohn wrote:

I'm generally a believer that 2% cash back is better than 1.5%, but I shelved my Citi DC and started using a CapOne QS card for general spend.  Citi DC had the $25 minimum and other redemption issues since I don't have a Citi checking account.  I know I'm leaving money on the table but I prefer the instant gratification.

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I don't have a Citi account and i get my statement credit the next business day or 2 the max

[Closingracer99]

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@kdm31091 wrote:

I agree 2 percent is more than 1.5 percent, but if the headaches aren't worth it on the 2 percent card, I can understand.

As finstar said, high income may make it less relevant, but I'm certainly not high income haha.

Anyway, 1.5 vs 2 percent is a relatively insignificant difference at the end of the day, absent very large spend. So I think people should just use whatever they prefer. You leave a little on the table but it's not going to make a massive difference either way, and there's certainly many good options out there for different consumers.

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It is the billing period you get your CB with Citi DC so if you can't wait a month than go use the Cap QS which I won't touch since it's Capital one

[kdm31091]

If you don't PIF before the statement cuts on DC, you do have to wait another month for the cash back. To some people no big deal, to others it's annoying.

[galahad15]

I have quite a few rewards cards collected thus far to date, both 2% and 1.5%, but my favorite is prolly my Cap1 card (rewards are structured like a Venture), since there is no minimum redemption amount, and I can redeem at 2% cashback for frequent and recurring subway travel.  Next faves are most likely Citi DC and FNBO BucksBack at 2%, and FNBO Amex at 1.5%, but all of these 3 cards have $25 minimum redemption thresholds.

[BallBounces]

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@Anonymous wrote:

Hello Everyone,

I went on a app spree last year for the "ultimate' cash back credit card. After trying a few, especially Citi Double Cash, I've gone back to using a credit union card that offers 1.5% on every purchase. Why, you ask? I don't like that in order to redeem my cash back, I have to reach a minimum redemption level.

Even though Citi DC is 2% CB, my 1.5% NFCC allows me to redeem at any time. With Citi DC, I always feel like at some point, unless I continue to use the same card all the time, that I'm leaving cash on the table unless I reach a minimum threshold and stop using the card. YMMV, but I'm willing to forgo the .5% in favor of a card that allows me to redeem at any time and this is what works for me. There's something about the minimum redemption level that subconciously kinda makes me feel like I gotta spend more to make sure I get my CB. My back-up cards are my Discover IT/IT Miles card since they also allow you to redeem without minimums.

I'd be interested to hear what others think.

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FWIW, I feel the  same way.  I prefer the Cap1 Quicksilver over the Citi DC and the Amex BCP that I also have. 

[SunriseEarth]

If your non-category spend is small, then a CC without redemption limits might make sense.   Also, if you're considering applying for a new card and factoring in sign-up bonuses, it can make a lot of sense.

I'm quite happy with my QS, but I'm carrying a promo balance on it now.   My gen spend is going on Discover currently.   Citi DC is SDed for me.   In April, I intend on PCing my VentureOne to another QS and will start using that for gen spend, once my Discover promo ends.  

[Anonymous]

Thanks everyone! Seems like for some the 2% with either Fidelity, Citi DC or some other card works while others are sticking with 1.5% with Capital One or another similar card. For me Citi DC didn't work well because I PIF and I like to see my rewards post quickly, which I do get with Navy Federal. I think I got spoiled by Navy Federal.

If I ever start spending a lot more per month, or if I have a big purchase,  maybe I will reconsider using Fidelity or Citi DC

[Anonymous]

my only card that doesnt have minimum points redemption balance is my QS card and most people mentions. Us Bank perks +, BofA cash rewards, chase freedom,  citi card all have minimum requirements, so yea i generally use the quicksilver for everything.

[Anonymous]

As someone who mostly goes for travel rewards (which means generally redeeming $100+ worth of points at a time) I find complaints about $25 cash redemption levels comical.

What's the point of even having a particular rewards program if it takes a long time to earn $25?