Comments on: Just Say No To Teaser Cashback Offers

By: jim

jim — Thu, 24 May 2007 18:32:40 +0000

That’s a very good idea…

By: Tommy

Tommy — Thu, 24 May 2007 18:26:52 +0000

In figuring out my optimization of rebate cards, I take into account my time to get the rebate as well. That is why I use the following:

Paypal Debit Card with 1.5% cash back on everything (instantly and automatically…none of this waiting around to reach a certain amount or calling for a check). Also, while your funds wait to be spent, you earn very close to 5%

Amex Simply Cash Small Biz card. This one nets you 5% back with no caps at gas stations, on cell phone service, and at office supply stores (ink anyone?). Also it is automatic…the cash back is calculated every two months and is applied directly to your balance.

Another tip: I label each card in my wallet with the terms…like:
“0% until 02/14/2008″
“5% back gas, cell, office”

That way everytime you go to yank one out of your wallet, you know what’s up.

By: citi sucks

citi sucks — Mon, 21 May 2007 23:51:00 +0000

I use the Emigrant Direct card. The savings rate is up to 5.05%. With 10K in savings, you receive 1.4% and it automatically deposits in your savings account for you. Very easy. I currently have the citibank card that dropped from 5% to 2% so I’ve been looking for another card for the gas, groceries, etc, however I use the Emigrant for “everyday purchases”.

http://www.emigrantdirect.com

I’ve also found another credit card via the internet. Although I like the platinum card I found this one, http://www.nationalcity.com , called “everyday rewards visa” with:
Up to 4%* cash back
4% on gasoline at the pump
Up to $250 in monthly purchases
3% on cinema and video rentals
Up to $150 in monthly purchases
2% on groceries, restaurants and fast food
Up to $750 in monthly purchases
Up to 1% on everything else
.25% on first $10,000 each year, 1% thereafter with no limits

Once you’ve accumulated $100 in rebates, they automatically send you a check attached to your next monthly statement

By: Credit Card Cashback Reward Deal Enthusiast

Credit Card Cashback Reward Deal Enthusiast — Sun, 13 May 2007 13:54:02 +0000

I agree with you about not chasing short-term offers like this one. (Though I supposed if the numbers worked out well enough, I might.)

Though, personally, I have chased one of the 1-year offers: the Citi Driver’s Edge card. This one is truly a great deal, for the first year and subsequent years. If you participate in the “Drive Rewards” program and drive enough miles, in the first year, you can earn up to 12% back on gas/grocery/drug store purchases and up to 2% back on other purchases. In subsequent years it drops to up to 6% on gas/grocery/drug purchases.

I basically replaced my Citi Dividend card with the Citi Driver’s Edge.

By: Hazzard

Hazzard — Sun, 13 May 2007 01:08:32 +0000

I just can’t bring myself to jump in to the credit card games. I just use a non-rewards Visa from my credit union. It’s a permanent low interest rate (I never carry a balance anyway) and I trust my credit union not to screw me over.
Hazzard

By: fivecentnickel.com

fivecentnickel.com — Sat, 12 May 2007 10:40:21 +0000

Weekly Roundup – 05/11/07

Here’s a quick look at the articles that caught my eye over the past week…

Jim hates credit card cashback teasers. Funny, because I just posted about one such reward credit card offer.
JLP has some thoughts on what to do when you’r…

By: Dean in Des Moines

Dean in Des Moines — Fri, 11 May 2007 19:35:43 +0000

Don’t mess with credit cards and there’s nothing to complain about. 5% or 2%… it’s not worth the bother anyway.

By: Jon @ TheMoneyMythos

Jon @ TheMoneyMythos — Fri, 11 May 2007 12:33:36 +0000

I agree! Citi was the first rewards card I had, and I loved the 5% rate I was getting. I was actually getting so much in rewards that I had to get a new card from Chase in order to not go over my limit at Citi.

Of course, then Citi announced they were reducing their rewards to a pathetic 2% and I just stopped using the card altogether. It’s the backup I carry around in my wallet now, but that’s about it.

By: theWizard

theWizard — Fri, 11 May 2007 03:47:45 +0000

Yea, I had a Citi Divident getting 5% until the 14th of last month. I used it up to that day and then it got pulled from the wallet and moved to the inactive file. I then switched to my Chase Plus Rewards and haven’t looked back. I’m still waiting a cycle or two for all the bonus money to post to the citi card before I cash out, as you can only cash out $50 or more at a time.

By: Lazy Man and Money

Lazy Man and Money — Fri, 11 May 2007 01:35:29 +0000

Yep, this is why I have the Chase Plus Rewards Card. Citibank used to have a spot in the wallet… Now the card is just gathering dust.

By: MoneyDummy

MoneyDummy — Thu, 10 May 2007 20:26:05 +0000

You tell ‘em, Jim!

Let us all chant it together. “Long live the Chase Plus Rewards card! Long live the Chase Plus Rewards card!”

The good news is that if all the rest of the rewards cards get rid of their good (and by good, I mean at least 5% cash back on certain purchases) rewards, the Ramseyites and the use-credit-pay-it-every-month-its won’t have to debate it anymore. LOL.