Citi Double Cash or Bank of America Cash Rewards?

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chefsteph
 
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Citi Double Cash or Bank of America Cash Rewards?

Postby chefsteph » Wed Jun 03, 2015 6:42 pm

Hey everyone,

I currently have the Chase Freedom and I am trying to pick a card that I can use for gas during quarter gaps that the Freedom doesn't have the 5% cash back on gas out of the Citi Double Cash and BofA Cash Rewards.

Got pre-approved for both cards recently and I am hoping to choose one of these to use in those gaps. I have a BofA account w/ Gold Preferred Reward status for their preferred rewards program, so I could potentially get a 25% rewards bonus if I get the BofA Cash Rewards card. I don't see myself hitting the platinum or platinum honors rewards status ever because that'd be too much liquidity in my bank account so the gold status is as good as it's gonna get!

On the other hand, Citi Double Cash has one of the best flat rate cash back rewards I've seen at 2% (1% purchase + 1% bill pay) so that's also an enticing offer leading me to the dilemma I am in now.

With that, what do you think would be the best card to pair with my Chase Freedom (for gas especially) during the non 5% cash back bonus quarters on Chase?


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CarefulBuilder14
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby CarefulBuilder14 » Wed Jun 03, 2015 9:35 pm

If you spend under (or not much more than) $250 a month on gas, consider Sallie Mae Rewards.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Vermonster
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby Vermonster » Wed Jun 03, 2015 10:28 pm

Also consider the Amex BCP. There is no cap on the gas spending at 3% cash back.

Keep in mind that there is a chance that Citi will give you a low starting limit on a DC. Most people you see with a high limit have moved credit around from other cards.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

Whatamuji
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby Whatamuji » Thu Jun 04, 2015 2:26 am

Another possibility if you were looking for another 5% cashback for gas would be the Discover IT card. So you could use Discover for Jan-Mar and July - Sept could be on your Chase card.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

yfan
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby yfan » Thu Jun 04, 2015 3:55 am

If all you are looking for is a card to use for gas and not general spend, then go with the BofA Cash Rewards card; that should be a no brainer given the card's higher earn rate, plus your relationship bonus with BofA. If gas is just a part of (much) larger general spend, you may wish to consider the Citi Double Cash.

rockyrock
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby rockyrock » Fri Jun 05, 2015 8:28 am

chefsteph wrote:Hey everyone,


With that, what do you think would be the best card to pair with my Chase Freedom (for gas especially) during the non 5% cash back bonus quarters on Chase?


How much do you spend on gas each month and where do you buy it?
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

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CarefulBuilder14
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby CarefulBuilder14 » Fri Jun 05, 2015 10:43 am

chefsteph wrote:I have a BofA account w/ Gold Preferred Reward status for their preferred rewards program, so I could potentially get a 25% rewards bonus if I get the BofA Cash Rewards card. I don't see myself hitting the platinum or platinum honors rewards status ever because that'd be too much liquidity in my bank account so the gold status is as good as it's gonna get!

On the other hand, Citi Double Cash has one of the best flat rate cash back rewards I've seen at 2% (1% purchase + 1% bill pay) so that's also an enticing offer leading me to the dilemma I am in now.

Discover, with extra rewards, beats Double Cash hands down for the next year.

As far as BofA Preferred Rewards, you can also have balances in a Merrill Edge account contribute to your "asset pool". I've read some really bad things about Merrill Edge and personally choose to avoid it. My point is simply that investments can count, too - not just liquid funds in checking and savings.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

kdm31091
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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby kdm31091 » Fri Jun 05, 2015 11:50 am

CarefulBuilder14 wrote:
chefsteph wrote:I have a BofA account w/ Gold Preferred Reward status for their preferred rewards program, so I could potentially get a 25% rewards bonus if I get the BofA Cash Rewards card. I don't see myself hitting the platinum or platinum honors rewards status ever because that'd be too much liquidity in my bank account so the gold status is as good as it's gonna get!

On the other hand, Citi Double Cash has one of the best flat rate cash back rewards I've seen at 2% (1% purchase + 1% bill pay) so that's also an enticing offer leading me to the dilemma I am in now.

Discover, with extra rewards, beats Double Cash hands down for the next year.

As far as BofA Preferred Rewards, you can also have balances in a Merrill Edge account contribute to your "asset pool". I've read some really bad things about Merrill Edge and personally choose to avoid it. My point is simply that investments can count, too - not just liquid funds in checking and savings.


Excellent point. With my Discover about to give me 2% on general spend with the double promotion, there would be no need to care about a Double Cash not that I want one anyway. Even my Quicksilver is going to be kind of unused. Sad.

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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby MemberSince99 » Mon Jun 08, 2015 7:43 am

What is this about Discover double rewards? Is it a targetted offer? I haven't gotten it if so and haven't seen anything about it on their site.

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Re: Citi Double Cash or Bank of America Cash Rewards?

Postby rockyrock » Mon Jun 08, 2015 8:56 am

MemberSince99 wrote:What is this about Discover double rewards? Is it a targetted offer? I haven't gotten it if so and haven't seen anything about it on their site.


Call them up and ask to be enrolled. It's double CB for the next 12 billing cycles--all purchases even rotating cats. :money:
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC



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