On the Citi, don’t you have to carry the balance to earn the 2%? Meaning, I often pay my cards off before I get the statement. My understanding is this would not make the Citi pay me 2% but 1%.
I have ~11 cards (loose count) and use Wocket Wallet to maximize my spending/rewards when I have large expenses or travel happening.
Yeah, and most no annual fee cards charge a 3% FTF. There might be a couple that don’t, but I don’t know any off the top of my head.
This would be a dealbreaker for me. Someone please answer this question.
No carried balance required – in fact it’s 1% credit when the card is used and 1% credit when you pay the bill… so it actually incents you to pay your bill.
i believe capital one doesnt charge FTF
I think that’s right – and they have a nice 1.50% cash back card. The thing I like about that card is that you can redeem your money at any time (you don’t have to wait to do it in $25 increments).
Cash or Amex Platinum card.
Discovery card all the way!
Carried was poor choice. I haven’t verified this but the first comment on credit karma discussed what I mean Initially excited 2% cash back is a great reward. However, the details matter. You don’t get the 1% of purchase as you make them - only after the billing statement closes. You MUST pay attention to when you pay the bill -> if you pay the balance too early, don’t get the 1% back on of payments. The payments must be captured on a “purchase tracker” -> which can be much later than when you make the charges. But what really annoyed me -> they “hold” payments for up to 5 business days. The payment will show as posted…but will not increase your available balance. They claim this is to make sure the “funds” clear – but then why show the payment as posted? It should remain at the status of pending. Also, it doesn’t not take 5 business days to clear an online electronic payment, especially when the money is withdrawn from bank account within 2 business days! I prefer the capital one card 1.5% - it is truly no hassle. Earn cash back immediately, payments that post immediately increase availble balance!
who pays their bill before the statement close?
I sometimes pay my total balance, which includes charges made after the most recent statement. I don’t do it often, but sometimes.
My understanding is that you’ll still get the 1% credit if you pay your bill early. I frequently pay my bill before the statement close.
FYI - I’m not 100% sure the Citi Double can be obtained with a Visa Signature anymore. Think they’re all Mastercard now.