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Regret getting double cash card.

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Regular Contributor

Re: Regret getting double cash card.

..but Ive heard those complaints as well. To each their own I guess.

CL: $10,000 _____ $10,000 ______ $7,100 _______ $7,000 _______ $23,300 ______ $5,000 _______ $9.500
Total Credit Limit: $71,900_____________________________________________________________Gardening Since: 09/01/2016
Message 11 of 47
Valued Contributor

Re: Regret getting double cash card.

It's not any worse than the BCE/BCP from Amex, I have both. However, I do like the Cash Rewind. I bought an iMac as a gift before thanksgiving, on black friday it went on sale so it wasn't eligible for the best buy price match, about a week later Citi refunded me $150. This card lives in my wallet.

Message 12 of 47
Established Contributor

Re: Regret getting double cash card.

I agree with jace. Actually, something I have noticed for a while now when reading complaints about the Citi Double Cash is how people fault the reward structure while electing to be purposefully oblivious or genuinely unaware that other cards in their possession have very similar or worse restrictions for rewards. Some of those cards may not only have $25 or even $50 minimum redemption thresholds, but also $25 increments and/or delayed/nontransparent rewards accumulation. Subsequently, I don't see why the DC's $25 minimum causes so much angst for them.

 

Regardless, I don't mind when I get my rewards as long as I do eventually get them. I don't need cash back rewards to supplement income, so it would probably annoy me to cash out more frequently than I do now. It certainly pays to be patient as a .5% cash back penalty for having rewards -now- with the QS for domestic purchases wouldn't be a good deal for me. I actually prefer to carry my QS where the DC can't quite compete, and that's as a backup when traveling. 


Message 13 of 47
Moderator Emeritus

Re: Regret getting double cash card.

It's a 2% default spender at $0 AF; at the time when it was released Fidelity was really the only other option for that for the vast majority of people (and limited offers are limited, aka JCB Makurai for multiple reasons as one such).  For cashbackers it simply didn't suck albeit a bit awkward as has been noted.

 

Now there's a number of different 2% or better options that virtually everyone can obtain that don't have the same irritating structure so not much need to put up with it if bothers you.

 

 




        
Message 14 of 47
Contributor

Re: Regret getting double cash card.

I love my DC. I don't care that the rewards are a montb behind. Yeah I'll use my Discover for Amazon and other cat spend as well as freedom if they have a cat and BCP for grocery, but for everything else 2℅ is higher than 1 right? Also, I don't mind the 25 min it's better than amex 25 increment. I used to cash out 4 or 5 dollars in rewards when I was new to credit but now I build it up more so it seems like something.
Citi DC WEMC: 19,900|Chase CSR: 21,800|Chase Ink Cash: 7,000|Capital One QS VS: 8,000|Discover IT: 18,000|AMEX BCP: 10,000|AMEX Hilton Ascend: 20,000|AMEX GOLD: NPSL|Alliant CU VS: 15,000|Chase Amazon VS: 5,000
Message 15 of 47
Super Contributor

Re: Regret getting double cash card.


@MrDre wrote:

Waste of a pull imo. Failed to understand the rewards prior to app.

 

Ok so 1% after billing statement closes.

1% after paid.

Cool.

 

However im reading it can take another billing statement for the 1% from payment to appear. Smiley Indifferent

 

 

Then you need $25 to redeem. Seems like its going to take a while to cash in my rewards. Am i right?

 

I feel like im better off using the quick silver now.


I agree. It's a much overrated card IMHO:

1. first 1% delayed until statement after purchase
2. second 1% delayed until statement after payment
3. redemption minimum of $25
4. low starting limits
5. hard to get CLI's, usually no soft pull opportunity
6. no balance transfer opportunities after first 30 days
7. high interest & high fees
8. foreign transaction fees

 


Total revolving limits 719k (592500 reporting) FICO 8 scores: EQ 735 TU 782 EX 746
Message 16 of 47
Mega Contributor

Re: Regret getting double cash card.


@Revelate wrote:

It's a 2% default spender at $0 AF; at the time when it was released Fidelity was really the only other option for that for the vast majority of people (and limited offers are limited, aka JCB Makurai for multiple reasons as one such).  For cashbackers it simply didn't suck albeit a bit awkward as has been noted.

 

Now there's a number of different 2% or better options that virtually everyone can obtain that don't have the same irritating structure so not much need to put up with it if bothers you.

 

 


Right, but people have complaints about some of the alternatives too.  E.g. Blispay appears to have low max CL, no autopay and currently no CLI.

 

 

Message 17 of 47
Mega Contributor

Re: Regret getting double cash card.


@SouthJamaica wrote:

@MrDre wrote:

Waste of a pull imo. Failed to understand the rewards prior to app.

 

Ok so 1% after billing statement closes.

1% after paid.

Cool.

 

However im reading it can take another billing statement for the 1% from payment to appear. Smiley Indifferent

 

 

Then you need $25 to redeem. Seems like its going to take a while to cash in my rewards. Am i right?

 

I feel like im better off using the quick silver now.


I agree. It's a much overrated card IMHO:

1. first 1% delayed until statement after purchase
2. second 1% delayed until statement after payment
3. redemption minimum of $25
4. low starting limits
5. hard to get CLI's, usually no soft pull opportunity
6. no balance transfer opportunities after first 30 days
7. high interest & high fees
8. foreign transaction fees

 


I have had a few SP CLIs on this card, same as my other Citi cards.   While I agree QS is much simplier, DC does eventually give 33% more rewards.   Which should count for something.

Message 18 of 47
Established Contributor

Re: Regret getting double cash card.


@longtimelurker wrote:

@SouthJamaica wrote:

@MrDre wrote:

Waste of a pull imo. Failed to understand the rewards prior to app.

 

Ok so 1% after billing statement closes.

1% after paid.

Cool.

 

However im reading it can take another billing statement for the 1% from payment to appear. Smiley Indifferent

 

 

Then you need $25 to redeem. Seems like its going to take a while to cash in my rewards. Am i right?

 

I feel like im better off using the quick silver now.


I agree. It's a much overrated card IMHO:

1. first 1% delayed until statement after purchase
2. second 1% delayed until statement after payment
3. redemption minimum of $25
4. low starting limits
5. hard to get CLI's, usually no soft pull opportunity
6. no balance transfer opportunities after first 30 days
7. high interest & high fees
8. foreign transaction fees

 


I have had a few SP CLIs on this card, same as my other Citi cards.   While I agree QS is much simplier, DC does eventually give 33% more rewards.   Which should count for something.


Yes, I have had SP CLIs on this card as well.

 

Back to my earlier post, how many of those complaints would actually apply to a number of the poster's other cards, yet this list is repeated over and over again only for the Double Cash? I wouldn't keep a card around this long with so many grievances. 


Message 19 of 47
Established Contributor

Re: Regret getting double cash card.


@Sharingan wrote:

I agree with jace. Actually, something I have noticed for a while now when reading complaints about the Citi Double Cash is how people fault the reward structure while electing to be purposefully oblivious or genuinely unaware that other cards in their possession have very similar or worse restrictions for rewards. Some of those cards may not only have $25 or even $50 minimum redemption thresholds, but also $25 increments and/or delayed/nontransparent rewards accumulation. Subsequently, I don't see why the DC's $25 minimum causes so much angst for them.

 

Regardless, I don't mind when I get my rewards as long as I do eventually get them. I don't need cash back rewards to supplement income, so it would probably annoy me to cash out more frequently than I do now. It certainly pays to be patient as a .5% cash back penalty for having rewards -now- with the QS for domestic purchases wouldn't be a good deal for me. I actually prefer to carry my QS where the DC can't quite compete, and that's as a backup when traveling. 


I agree with Sharingan, and really agree with the bold part.  I acquired a Double Cash a few months ago through a product change and I'm happy with the card.  Would I prefer it if the rewards posted for the full 2% when each transaction posted and would I prefer that there not be a redemption threshold?  Of course I would.  However, I'm not getting rich off of these rewards and I don't mind waiting for them to accumulate.  Currently my DC is one of my main cards, so it gets a lot of use.  This means that each time a statement cuts, new rewards are added for purchases and payments.  Yes, they may be delayed rewards, but new rewards are added each statement cut, so it doesn't bother me.

 

I'll also add that I received 2 soft pull CLIs during the first 12 months that this card was a ThankYou Premier.  This resulted in a nice CL and I also have a decent APR (around 14 something).  Therefore, some of the 'negatives' in this thread don't apply to my card.

 

Personally, I think the no threshold redemptions really come in handy when the card in question gets very limited use or is pretty much a sock drawer card.  My DC has effectively sent both of my Quicksilvers to the SD and that works out well because I use the Quicksilvers sparingly and the cash back doesn't get 'stuck' waiting to build up to a redemption threshold (which would take forever to reach $25 or whatever amount on each card).  Again, with an active card like the DC, cash back is being added to the account monthly, so it is no big deal for me. 

Message 20 of 47
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