I got a targeted offer for a Citi Dividend card stating if I spend $1k within 3 months I get $250 Cashback bonus. The regular public offer is $100 back for $500 spend, so this is only a little more than double back for double spend (which I really don't have a problem meeting). Should I "waste" an app/credit pull on this offer?
The rotating categories on this card tend to be pretty weak, especially when compared to Chase Freedom. They also limit you to a max of $300 redeemed per year. I'm not entirely sure, but when I signed up for this card last year, I believe the signup bonus was included in this total amount.
That being said, $250 in actual cash is a good signup bonus, and I'd go for it as well.
I bit and was approved for the card via the online chat after the screen that said the application had been received. They said they had to verify some stuff, but essentially the only thing they verified was to ask me if $xxxx is sufficient for me for a credit line and I said yes, because as long as I could charge $1000 in a shot to get my $250 I was fine and the line they were offering was well above that.
Regarding the $300 max, I did see in another thread that the person had written to Citi to ask if sign-up bonuses are included in that cap, and the response was that it's not included.
Good offer for that card, I would have jumped on it too.
The $300 yearly cap has its pluses and minuses. The big plus is that you you can use the entire $300 cap up in one quarter (ahem, drug stores) with $6,000 in spending. After that the card becomes pretty much entirely worthless.