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Huge Richard
Georgia Fan
Member since Dec 2018
3188 posts

Citi launches new 5% cash back card
Noice noice. 5% back on top eligible spending category each month. Citi
This post was edited on 6/10 at 8:46 am


tigerfoot
LA-Monroe Fan
Alexandria
Member since Sep 2006
47873 posts

re: Citi launches new 5% cash back card
On first 500 only, correct?


Huge Richard
Georgia Fan
Member since Dec 2018
3188 posts

re: Citi launches new 5% cash back card
Yea. First $500 per month, which would match the 1500 per quarter from chase and discover


LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
6814 posts

re: Citi launches new 5% cash back card
It's nice that it's not category specific, as long as it's an eligible category- seems like it's a guaranteed 2500pts/month.


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TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
77316 posts

re: Citi launches new 5% cash back card
Not that great - 5% only on your top spending category and maxes at $500 spent (so $25 cash back before it turns into 1%)


thunderbird1100
LSU Fan
GSU Eagles fan
Member since Oct 2007
61992 posts

re: Citi launches new 5% cash back card
quote:

Not that great - 5% only on your top spending category and maxes at $500 spent (so $25 cash back before it turns into 1%)



If you keep track of this it's awesome for restaurants or groceries since a lot of people can get to $500/mo in those and this is a fee free card @ 5% essentially for $25/mo @ $500.

To me this is a great card to use for something you spend about $500/mo or less on since it's fee free and 5% cash back...dont think restaurants ever pop up at 5% on the rotating free cards and groceries seems rare too (They did it during covid though).

There's also a $200 bonus after $750 spend in 3 months which is easy. This seems like a no brainer to add to an arsenal. I use my costco citi card to pay for restaurants and that's only 3% cash back, could easily replace with this and get 5% instead, just need to remember to switch back to costco once i hit or get close to $500 each month there.

So if you max out the $500/mo @ 5% and get the bonus that's $500 in rewards in year 1 and $300 in rewards each year after.
This post was edited on 6/10 at 9:34 am


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GEAUXT
USA Fan
Member since Nov 2007
27425 posts

re: Citi launches new 5% cash back card
Blue cash preferred from Amex is still tops imo. I get 6% on groceries, 3% on gas, and 1% on everything else.


thunderbird1100
LSU Fan
GSU Eagles fan
Member since Oct 2007
61992 posts

re: Citi launches new 5% cash back card
quote:

Blue cash preferred from Amex is still tops imo. I get 6% on groceries, 3% on gas, and 1% on everything else.



Thats a $95/fee card though.

Both offer up to $6k to get 6% or 5% on groceries. Do the math:

$6,000 * .06 = $360 cash back
$6,000 * .05 = $300 cash back

But the top one has a $95 fee, bottom one is free. You come out better with the Citi Custom Cash for groceries.

IF you spend more than $6k a year on groceries it makes sense to use both though to get both high rates of return on groceries.

I just upgraded my AMEX Blue cash everyday to preferred. But i also use it for 6% back on streaming services which is $100/mo for me.

There are fee free card who do better than 3% on gas - costco (4%) and sams club (5%) cards for example.
This post was edited on 6/10 at 9:52 am


seawolf06
LSU Fan
Raleigh, NC
Member since Oct 2007
7803 posts

re: Citi launches new 5% cash back card
You're not including the 3% back on gas, though which Citi doesn't offer.

If you want to manage several cards for all the different expenses, that's fine, but for most people it's better to just have one for everyday purchases.


BestBanker
USA Fan
Member since Nov 2011
15148 posts
 Online 

re: Citi launches new 5% cash back card
With a $500 annual fee and 24.99% interest rate.


Sarcasm[11]


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Huge Richard
Georgia Fan
Member since Dec 2018
3188 posts

re: Citi launches new 5% cash back card
The well Fargo propel gets 3% on gas. Also the BOA card if you select gas as your 3% category. Both are no AF cards, although it look like the propel card has paused new applications
This post was edited on 6/10 at 10:27 am


footballdude
LSU Fan
BR
Member since Sep 2010
727 posts

re: Citi launches new 5% cash back card
quote:

You're not including the 3% back on gas


There are 5% cash back cards for gas.

quote:

BOA card if you select gas as your 3% category.


3.3% (or more) if you have a savings account, checking account, or retirement account with a certain minimum balance.

Certain credit cards are eligible to receive a Preferred Rewards bonus. Enrolled Preferred Rewards members can receive a Preferred Rewards bonus of 25% for the Gold tier, 50% for the Platinum tier or 75% for the Platinum Honors tier based on their Program tier and type of card. If your product receives the 10% customer bonus, the Preferred Rewards bonus will replace the 10% customer bonus.
This post was edited on 6/10 at 10:51 am


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21
thunderbird1100
LSU Fan
GSU Eagles fan
Member since Oct 2007
61992 posts

re: Citi launches new 5% cash back card
quote:

You're not including the 3% back on gas, though which Citi doesn't offer.



I offered up other cards that do better and are also free. Point is the 3% on gas for AMEX blue cash preferred is not a selling point.

I know some are pretty simple and just use 1 card but a lot of folks on here have multiple cards and are willing to use them to maximize savings across multiple categories.

I have AMEX blue cash preferred (6% grocery/6% streaming; $95 fee), chase freedom (5% rotating, fee free), citi costco (4% gas, 3% restaurants, 3% travel through them, 2% costco; fee free) and cap one venture (2x miles on everything else; $95 fee) myself. So much free money out there if you can be disciplined it's pretty awesome to take advantage.

I'll have to run some numbers on this card to see if it makes sense to add, I guess for free why not, the $200 bonus alone is worth it considering there's no annual fee.
This post was edited on 6/10 at 11:02 am


Huge Richard
Georgia Fan
Member since Dec 2018
3188 posts

re: Citi launches new 5% cash back card
It’s a free 5% on 1 of the eligible categories - Restaurants, Gas Stations, Grocery Stores, Select Travel, Select Transit, Select Streaming Services, Drugstores, Home Improvement Stores, Fitness Clubs and Live Entertainment - seems good to me.


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HeLeakin
Texas A&M Fan
Member since May 2014
1990 posts

re: Citi launches new 5% cash back card
quote:

The well Fargo propel


Discontinued in April. Only available to those that already have it.

Wells Fargo is releasing a 2% cash back on everything credit card next month.


molsusports
Ohio State Fan
Member since Jul 2004
31548 posts

re: Citi launches new 5% cash back card
quote:

the BOA card if you select gas as your 3% categor



You can up the rewards for the boa card if you bank with them and have an investment account with Merrill Edge

The amount of the increase varies depending on the amount in the ME/BOA accounts


SM1010
Florida Fan
Member since Oct 2020
214 posts

re: Citi launches new 5% cash back card
Haven't really done any math to compare cards but I like my BoA card. They let your 3% category be online shopping so I just buy non refrigerated goods on Walmart.com/Amazon and get 3% on groceries as well as any other online purchase.



HarrisonTown
LSU Fan
Member since Nov 2019
230 posts

re: Citi launches new 5% cash back card
quote:

I guess for free why not, the $200 bonus alone is worth it considering there's no annual fee.


Checks the boxes.
Good enough for me.


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footballdude
LSU Fan
BR
Member since Sep 2010
727 posts

re: Citi launches new 5% cash back card
quote:

They let your 3% category be online shopping


3% plus 10% bonus if you open a BOA checking account (min $300 balance to keep it fee free).

3.3% is pretty good for all online shopping and BOA has good fraud protection.

Frequently has a $200 sign on bonus.

Also, you can get one of these cards in your name with one bonus category (online), and your wife can get on in her name with a different bonus category (Gas).



footballdude
LSU Fan
BR
Member since Sep 2010
727 posts

re: Citi launches new 5% cash back card
US Bank has a 5% cash back card that you can use for online streaming services and cell phone payments.

Cash +

Occasionally gets a $100 sign on bonus.

Their checking account is fee free if you have one of their credit cards and occasionally gets a $100 sign on bonus.



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