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Regret getting double cash card.

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Regular Contributor

Re: Regret getting double cash card.

Yeah, I like mine quite a bit, and while I can see some of those things being annoying for some, they don't bother me at all.

 

I haven't seen a 2% card that I'd really care to switch to. Blispay sounds nice, but the CLI issue doesn't sound good, and for me, the lack of autopay is pretty much a non-starter. I like to have full statement autopay set-up before I even use a new card. I wouldn't feel comfortable not having that protection for my forgetfulness. Probably not an issue for me, as I check and pay down any balances on all cards daily, but down the road, I'd want to have it.

 

Really, now that I've got the DC, Freedom, and Discover, I don't have any desire any other cards for a long time. For my personal usage, those 3 seem like they'll take care of everything I need. The DC pretty much sent my BOA to the SD. I might look into  an AMEX BCE down the line or maybe one of the 1.5% cards down the road just for the bonus then SD, but none of those for a long time. 

 

One very small thing I like about DC is that the available credit seems to rebound instantly after you make an online payment. Chase, BOA, and Discover wait for the payment to clear (usually no more than 24 hours) before updating the available credit, but DC does it right when you hit the button. A small thing, but nice. Is Citi the only company that does this?

CapOne Secured ($500), Discover It ($1600), BOA Cash Rewards Secured ($500), Amazon Store Card ($2700), Chase Freedom ($6000), Citi DC ($3200), AMEX BCE ($3000), Chase Amazon Visa ($2000)
Message 21 of 47
Moderator Emeritus

Re: Regret getting double cash card.

PapasChileHuevos USAA Federal Savings Bank started doing the balance update immediately upon payment. Also, my Chase Cards do not post rewards until the statement is printed!
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Message 22 of 47
Valued Member

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. 


Exactly this is what I hate about my Amex BCE. I like the other perks BCE offers but the reward redemption structure leaves a lot to be desired.
Citi DC is not bad compared to BCE. I can wait for $25, same as with my gas card BOA 321 cash card.

DC also has the price rewind and price protection features, but I never used them so I can't say how good or bad they are.

7/1/2017
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Message 23 of 47
Contributor

Re: Regret getting double cash card.

Rewind work good. I bought a ps4 pro and it went on sale black Friday and they posted a $50 credit within a week. I had to send in the form manually for that as it wasn't on there cause it was so new. I bought a Kenmore freezer and did it and it found a lower price by $60 and it's still searching until sometime this month.
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 24 of 47
Regular Contributor

Re: Regret getting double cash card.

I guess it just depends what kinds of structures you like for rewards. Personally my favorite are automatic statement credits like the amazon store card does.

If you think about it though, once you get the ball rolling you're always getting the 2% per statement if youre paying the balance. Because you would have this months first 1% and last months second 1%. If you generally spend the same amount it'd even out like that wouldn't it?
Message 25 of 47
Senior Contributor

Re: Regret getting double cash card.


@12velectronics wrote:
Does it really matter when you get rewards as long as you're getting them? But yeah that card has never really been that appealing to me either..

I agree. Cash isn't like miles. If cash shows up a statement or two later, it's not a big deal. It doesn't mean missing out on an award flight.

 

People who favor QS over DC just because the rewards are more immediately available could be earning 33% (0.5%/1.5%) on their rewards over a period of a month or two. That's a great incentive to wait! Where else can a person earn an easy 33% in a few months?

 

Complaints about $25 thresholds seem odd to me...if it takes a very long time to earn $25, what's the point of having the card when easy cash and travel bonuses abound?

Most spend: CSR, CFU, BBP
Rewards/AAoA ballast: CF, Discover, Costco, ED, Arrival, Double Cash
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Message 26 of 47
Regular Contributor

Re: Regret getting double cash card.

One more thing not to like ... and it's my fault for not reading clearly.

 

When you take the 0% for 18 months BT offer ... your new purchases are automatically no longer covered by any grace period ... you end up paying interest even if you pay in full all new charges.

 

This is unlike other issuers - Barclay, SYNC that I can think of - who will show you how much to pay to avoid interest on new charges. 

 

Not a big huge deal, but to maximize savings with 0% and rewards with 2% back, you can't do both. 

Message 27 of 47
Established Contributor

Re: Regret getting double cash card.


@PapasChileHuevos wrote:

One very small thing I like about DC is that the available credit seems to rebound instantly after you make an online payment. Chase, BOA, and Discover wait for the payment to clear (usually no more than 24 hours) before updating the available credit, but DC does it right when you hit the button. A small thing, but nice. Is Citi the only company that does this?


AmEx does this. Didn't know any other bank did.

Message 28 of 47
Mega Contributor

Re: Regret getting double cash card.


@LAKings wrote:

@PapasChileHuevos wrote:

One very small thing I like about DC is that the available credit seems to rebound instantly after you make an online payment. Chase, BOA, and Discover wait for the payment to clear (usually no more than 24 hours) before updating the available credit, but DC does it right when you hit the button. A small thing, but nice. Is Citi the only company that does this?


AmEx does this. Didn't know any other bank did.


With Citi, when you pay online, on refresh it shows your balance as 0.   Amex doesn't do this (at least on my accounts!)

Message 29 of 47
Established Member

Re: Regret getting double cash card.

Two thoughts:

 

- If you PIF a day or two before the statement cuts, you could get your cash day after the statement runs.  This would require some close calendar monitoring.

 

- As a few others mentioned or hinted at, if you have enough traffic/use on this card, in the long run it's not significant to wait a few extra weeks.

 

I'm in the latter camp.  As soon as my cash goes over $25, I request $25 as a statement credit.  Anything left over keeps me close to the next $25 goal.  I do this after my statement runs as I balance my account, set up my payment, and such.

Message 30 of 47
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