@ptatohed wrote:This card (and the discussion about how upgrade works) was discussed just a few weeks ago. I have EarlyPay turned on which pays my balance in full 2 days after the statement period ends. I have never paid interest.
This MyFive card looks very promising. Much like a citi Custom Cash, you get 5% in the cat you choose. The double spend cap is really nice! I posted about how most/all of the upgrade cards on Credit Karma were offering double the regular welcome bonus ($400 vs $200) a few weeks ago. Make sure you check there.
If I am not mistaken, the way upgrade cash back works is as statement credit. Which is normally fine..... if you earn the CB as you spend. But with the upgrade cards, you earn your CB as you pay. Thus, this is really a .95 x 5% = 4.75% card since you're not getting 5% of your 5%. My 2.2% card is really a 2.15% card.
Did you ever confirm that the My Five debit card CB did not work for your two CC bill pays?
@ElvisCaprice wrote:
@ptatohed wrote:This card (and the discussion about how upgrade works) was discussed just a few weeks ago. I have EarlyPay turned on which pays my balance in full 2 days after the statement period ends. I have never paid interest.
This MyFive card looks very promising. Much like a citi Custom Cash, you get 5% in the cat you choose. The double spend cap is really nice! I posted about how most/all of the upgrade cards on Credit Karma were offering double the regular welcome bonus ($400 vs $200) a few weeks ago. Make sure you check there.
If I am not mistaken, the way upgrade cash back works is as statement credit. Which is normally fine..... if you earn the CB as you spend. But with the upgrade cards, you earn your CB as you pay. Thus, this is really a .95 x 5% = 4.75% card since you're not getting 5% of your 5%. My 2.2% card is really a 2.15% card.
Did you ever confirm that the My Five debit card CB did not work for your two CC bill pays?
I did confirm. When I used my upgrade debit card to pay two citi credit card bills ($50 each), I did not get any cash back.
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@ptatohed wrote:
@ElvisCaprice wrote:
@ptatohed wrote:This card (and the discussion about how upgrade works) was discussed just a few weeks ago. I have EarlyPay turned on which pays my balance in full 2 days after the statement period ends. I have never paid interest.
This MyFive card looks very promising. Much like a citi Custom Cash, you get 5% in the cat you choose. The double spend cap is really nice! I posted about how most/all of the upgrade cards on Credit Karma were offering double the regular welcome bonus ($400 vs $200) a few weeks ago. Make sure you check there.
If I am not mistaken, the way upgrade cash back works is as statement credit. Which is normally fine..... if you earn the CB as you spend. But with the upgrade cards, you earn your CB as you pay. Thus, this is really a .95 x 5% = 4.75% card since you're not getting 5% of your 5%. My 2.2% card is really a 2.15% card.
Did you ever confirm that the My Five debit card CB did not work for your two CC bill pays?
I did confirm. When I used my upgrade debit card to pay two citi credit card bills ($50 each), I did not get any cash back.
Thank you! Another question, on the early pay for their CC, can you designate an external debit card for payment? Thinking Quontic Bank debit card. I see My Five is not in the paypal pay bill listings.
@ElvisCaprice wrote:
@ptatohed wrote:
@ElvisCaprice wrote:
@ptatohed wrote:This card (and the discussion about how upgrade works) was discussed just a few weeks ago. I have EarlyPay turned on which pays my balance in full 2 days after the statement period ends. I have never paid interest.
This MyFive card looks very promising. Much like a citi Custom Cash, you get 5% in the cat you choose. The double spend cap is really nice! I posted about how most/all of the upgrade cards on Credit Karma were offering double the regular welcome bonus ($400 vs $200) a few weeks ago. Make sure you check there.
If I am not mistaken, the way upgrade cash back works is as statement credit. Which is normally fine..... if you earn the CB as you spend. But with the upgrade cards, you earn your CB as you pay. Thus, this is really a .95 x 5% = 4.75% card since you're not getting 5% of your 5%. My 2.2% card is really a 2.15% card.
Did you ever confirm that the My Five debit card CB did not work for your two CC bill pays?
I did confirm. When I used my upgrade debit card to pay two citi credit card bills ($50 each), I did not get any cash back.
Thank you! Another question, on the early pay for their CC, can you designate an external debit card for payment? Thinking Quontic Bank debit card. I see My Five is not in the paypal pay bill listings.
I have a $0 balance on my upgrade Cash Rewards Elite (I don't have the MyFive) right now but if I go to 'Make a Payment', and then 'Payment From', all I see is my linked external Chase checking, my upgrade checking account, and 'Add a Bank'. I don't see a debit card payment option but, then again, I didn't see a debit card options with citi either - I had to call. So maybe if you call upgrade to make a payment, they may accept a debit card? But, in general, this options is not very common. But this is just a manual payment, in regard to EarlyPay, I would doubt you could use a debit card, pretty sure it has to be a checking account.
So check this out guys!!! ( @Anonymous )
This is awesome! I take back what I said about my Cash Rewards Elite Visa (and hopefully this MyFive Visa) not being a true 2.2% card (and a true 5% for the MyFive) (well, kind of, see caveat below). When I was surfing around my upgrade accounts for Elvis, I saw this beautiful "Redeem rewards now" option! It worked. I sent the money to my external Chase account. These $40ish reward dollars were from a $1900ish spend at Jerome's in July.
But I guess there needs to be an asterisk here. It looks like I was only able to redeem my reward balance as ACH (as opposed to a future statement credit) because I had a $0 credit card statement balance. If it's a card that you spend regularly on, you might always have a balance and redeeming your reward money would first be used to pay off your current card balance, per the notes below. I guess the workaround for that would be to manually pay your statement down to $0 right before claiming your rewards?
But this is great. All the reviews I have ever read about upgrade cards clearly state that the only way to redeem rewards is by statement credit. So it was really cool to see this option.
