- Bargaineering - http://www.bargaineering.com/articles -

Don’t Use Credit Card and Get Incentives

I wrote in the past about how you shouldn’t cancel a credit card you used for a 0% balance transfer [3] because there’s a chance they could offer you another one, well today in the mail I received another reason not to cancel a credit card. The Citi Professional card [4] offered me 3,000 bonus ThankYou points if I spent at least $300 between July 1st and August 31st. Since I have a student loan, those ThankYou points can be transfered on a 1 ThankYou point to 1 penny ratio so I’m essentially getting 113% cashback on my purchases (4% on restaurants, gas stations, auto rental and office supply stores since the base reward is 3%) with the Citi Professional card. This isn’t that big of an offer and I wouldn’t sign up for a card just because they offered it to me, but since I already have the card and all the billpay set up it’s a no-brainer for me to take advantage of it.

So, in addition to the credit score benefits of keeping a credit line open (your percent utilization is lower because your aggregate credit limit is higher), you might even get a random incentive promotion just to get that card back into your wallet (that coveted “share of wallet” idea those companies are always fighting for).

Incidentally, if you sign up for the Citi Professional card they are offering a 9 month 0% APR balance transfer (no fee) plus 10,000 ThankYou points after your first purchase. 10,000 ThankYou points is enough for a $100 gift card but not $100 straight cash.

Anyone else get interesting incentives on cards they’ve long since relegated to the dust pile?