Citi rewards are per calendar year

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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MemberSince99
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Citi rewards are per calendar year

Postby MemberSince99 » Sun Jun 15, 2014 11:37 am

On my Dividend Citi sent me an email allowing one click to accept the 5% sign up. I thought that's kind of cool so I clicked it and got signed up. Then I saw the small print that said "Rewards are limited to 300 dollars per calendar year".


Say what?


That's kind of pathetic really. I mean most people with a decent income would never use this as a heavy spend card because of that.


I honestly was not aware of or had forgotten that but I'm glad they reminded me. They really are not competitive on rewards. I'm wondering just what it is they DO well? Is there some edge with these guys I'm just totally missing or is this it? Because if this is it, if a card goes right now Citi is #1 on the list to go even above Discover who despite being about as miserly as Scrooge with the limit at least has good rewards and their mall.


Gamma
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Postby Gamma » Sun Jun 15, 2014 12:18 pm

Yea I doubt anyone would use this as their everyday card. This card only good for their first quarter for drug stores. That's the only way I reach my $300 annual cap. I actually got my first auto credit limit increase this year after 3 years with them after I finished reaching my cap. This card won't get any use again until next year.

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Postby benhollberg » Sun Jun 15, 2014 2:16 pm

I got this card for one purpose, and one purpose only. Citi Private Pass for concert presales. My only use for Citi cards, and with the low limit they gave me it will never get any other use.
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Postby CC Deville » Sun Jun 15, 2014 6:15 pm

When the Dividend first came out in 2003 it was awesome. It offered 5% cash back on gas, groceries and pharmacies; however, that $300 annual limit was always there. Around 2007 or so they reduced it to a 2% card but added utilities. Then around 2009 they made it into a fake Discover/Freedom 1% card with rotating 5% categories. At first the categories were acceptable (gas, groceries) but for the past 4 years or so their categories are worthless to me (I just signed with "one click" via email for the 3rd quarter of amusement parks, Hilton hotels and car hire). I switched to my BankAmericard Cash Rewards Visa a few years ago and I love it.

Citibank has really lost their edge and they seem to be okay with that (due to the lack of any new or innovative products). They are good for easy credit line increases and APR reductions but that is about it. I keep my Citibank cards around for age (1998-Platinum Select, 1999-AT&T Universal and 2000-Dividend).

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bisbicos
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Postby bisbicos » Sun Jun 15, 2014 9:58 pm

I have no idea how they stay competitive. I have the dividend card and max out my cashback with gift card purchases in the first quarter, then the card goes right in the sock drawer till next year.
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

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US Bank Cash +
Chase Ink

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CarefulBuilder14
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Postby CarefulBuilder14 » Sun Jun 15, 2014 10:03 pm

$300 as a cash back limit is still reasonable as a full-year limit. If you just use it for 5% categories, it applies to $6000 of spending. Freedom and It come with quarterly limits of $1500 of category spending. Freedom and It don't place a limit on total cash back, though.

The usefulness of the the particular categories matters, of course, but a $300 somewhat flexible cash back limit is, all else equal, preferable to four inflexible $75 limits. Again, this assumes you use Dividend, It, and Freedom only for 5% spending.

I agree it's a bad card for everyday use - but most of their customers probably have another card getting at least a base 1% cash back with no limit.
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MemberSince99
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Postby MemberSince99 » Mon Jun 16, 2014 5:04 am

CarefulBuilder14 wrote:$300 as a cash back limit is still reasonable as a full-year limit. If you just use it for 5% categories, it applies to $6000 of spending. Freedom and It come with quarterly limits of $1500 of category spending. Freedom and It don't place a limit on total cash back, though.

The usefulness of the the particular categories matters, of course, but a $300 somewhat flexible cash back limit is, all else equal, preferable to four inflexible $75 limits. Again, this assumes you use Dividend, It, and Freedom only for 5% spending.

I agree it's a bad card for everyday use - but most of their customers probably have another card getting at least a base 1% cash back with no limit.



If that were on the 5%, I'd agree it's reasonable. Because it's for everything for the entire year, no, I don't agree it's reasonable. It's pretty lacking compared to most other rewards cards.


When I got the cards I have now the idea wasn't to keep them all forever - that would drive me nuts. I want at MOST 6 cards at any one time, long term. That is the MOST I want to deal with and honestly I'd prefer fewer. The idea I had was to try out the major lenders and let them compete for my business and let the best companies win. (And also that way I'd have positive history with the others if things changed).
So far, Citi is really on the bottom overall. They may be better about limits and CLIs than say Discover, but that's really the only way they are better that I've seen so far besides letting you sign up for your 5% with one click. I can't think of any other way they top Discover, or really any of my other lenders. So that is looking like the odd card out to me. If Discover never gives me a CLI to at least 5k they could be facing the chopping block next, but for now, I plan to keep it (can't say I'll be patient forever though) but to me, clearly when I cut down to 6, Citi is the one that hasn't made the cut so far.


And I'm sorry if that seems brutal or heartless or whatever, but you know what, our whole economic system is the same way - you compete and you make it or you don't. No one is going to cry for me if I don't. That's just life. And that's what my own determination is, yours may be totally different.

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Postby djrez4 » Mon Jun 16, 2014 9:43 am

MemberSince99 wrote:I'm wondering just what it is they DO well?


They're very good at giving me American Airlines miles. 275k in the last year.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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