Citi Forward - bit of a bait and switch with ThankYou Points

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Jooxi
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Citi Forward - bit of a bait and switch with ThankYou Points

Postby Jooxi » Fri Jul 20, 2012 3:33 pm

So I just got my first real credit card, the Citi Forward. They approved me easily, with a low APR, and a $3,500 limit, so overall I am happy. I thought I should mention the ThankYou Points for those considering applying for this card.

As mentioned in other places, the best way to get the true 1 point = 1 cent is to redeem them for gift cards. However, on the Forward, most gift card either require $100 minimums to redeem 1:1, or don't offer $100 gift cards. In the latter cases, you are stuck redeeming 6,000 points for a $50 gift card.

It's not a huge deal, but your options for true 1:1, $100 gift cards seem to be:

Saks Fifth Avenue
Gap
Omaha Steaks
Banana Republic
Bloomingdales
Sephora
Red Door Spa's
Macy's
Staples
Chilli's

And a few others.

One cool option they offer is a check made out to your mortgage lender. It starts at $25 for 2,500 points.

Overall, for someone with limited credit history like myself, getting a $3,500 credit limit will help me a lot, and I don't know that I would have been approved (or at least not for a high limit) with something like the Chase Freedom. Additionally, if you get 5 points per dollar at the right places (food, Amazon.com, etc) you're probably coming out pretty ahead.

Still, it's a bit deceptive on Citibank's part - if you go to the ThankYou site before logging in, all the gift cards seem to start at 2,500 points for $25. Once you login with the Forward card, you get the higher point rates.


bmw1990Z
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Postby bmw1990Z » Fri Jul 20, 2012 3:42 pm

you can get decent deals on flights using thank you points.
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

Jooxi
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Postby Jooxi » Sat Jul 21, 2012 8:51 pm

That may be true, I haven't looked to deeply in the travel rewards.

hematino
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Postby hematino » Sun Jul 22, 2012 2:29 am

bmw1990Z is right, the flight deals are pretty fair with Thank You points. However they're the ONLY decent value for them that I have realized. As far as rewards/cash back systems go, I find Citi to be generally the stingiest. For the cards I use, Discover and Chase's Ultimate Rewards are the best and most generous.
Now she's eyeless.
The snakes she held once
Eat up her hands.

Jooxi
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Postby Jooxi » Sun Jul 22, 2012 12:23 pm

The truth is, even if I pay 6,000 points for a $50 gift card, if I'm earning 5 points per dollar for restaurants and Amazon.com, it is probably a pretty decent return. I am too tired to do the math.

I don't know that I would've applied for it if I was sure I could get the Chase Freedom, but it is a really good start for me so overall, I am happy. I will have to look into the travel rewards when I get more points, I can't seem to find anywhere the point conversion rate for travel.

DGenerateKane
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Postby DGenerateKane » Thu Jul 26, 2012 1:31 am

Jooxi wrote:Overall, for someone with limited credit history like myself, getting a $3,500 credit limit will help me a lot, and I don't know that I would have been approved (or at least not for a high limit) with something like the Chase Freedom.


Ha! Chase would have denied you. My brother got denied twice with them with no credit history, and I had excellent credit for 6 years when I applied and got a lousy $500 limit from them.

MemberSince99
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Postby MemberSince99 » Thu Jul 26, 2012 6:18 am

The sad part about that is, even Crap One will give almost anyone a 500 dollar limit card.

FutureBillionaire
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Postby FutureBillionaire » Thu Aug 09, 2012 8:26 am

Any updates regarding this? I shop on Amazon and eat out alot.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

Regnohspf
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Postby Regnohspf » Thu Aug 09, 2012 2:10 pm

its actually not a bad card. i only got it for restaurants and amazon. points rack up pretty fast but no point to get it if you dont fly often. i fly about 5 times a year and the points for tickets is pretty nice.

but i do have some credit card remourse haha. didnt think i would be approved for the chase sapphire anytime soon, so now that i got it, trying to consolidate all on my spending in to Chase Ulttimate Rewards haha
Wells Fargo Student Credit Card Visa - $1300 (February 2011)
American Express Zync Charge Card (February 2012)
Chase Freedom Visa- $2000 5% rotating (April 2012)
Citi Forward Visa- $3000 - 5x at restaurants, amazon.com (April 2012)
Chase Sapphire Preferred Mastercard World Elite - $5000 (July 2012)

Credit cards left to attain
-Amex BCE/BCP

FutureBillionaire
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Postby FutureBillionaire » Thu Aug 09, 2012 4:21 pm

Regnohspf wrote:its actually not a bad card. i only got it for restaurants and amazon. points rack up pretty fast but no point to get it if you dont fly often. i fly about 5 times a year and the points for tickets is pretty nice.

but i do have some credit card remourse haha. didnt think i would be approved for the chase sapphire anytime soon, so now that i got it, trying to consolidate all on my spending in to Chase Ulttimate Rewards haha


I fly about 4 or 5 times. Is that enough to get value out of the card? The sapphire just has double points, right?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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