Membersince2013

I just saw the new Citi Double Cash Card, which offers 2% and several ideas flashed into my mind. First off, it's a new card, but Citi is letting PC either my Platinum Dividend or Citi Diamond Pref to it.

I'm pretty sure that this isn't rocket science and a whole bunch of people probably already thought of it, but at 2% cashback offered, you can go to a place like BJs Wholesale and purchase $800 worth of Vanilla GCs and a soda via self checkout, then unload cards via AP then payback to get the full 2%.

You can go to Stop & Shop and get some Metabank cards for $500, then unload to BB or Serve then payback the Cash card to get the full 2%.

Luckily for me, a know a couple of my high school buddies who still work retail (I'm 24, so you should understand why), so i sometimes stop by a Rite Aid and get a $500 Vanilla GC. It cuts down the activation fees for me.

Basically, my thought process is that the Citi Double Cash card offers the same CB % as most portals, so at 2%, you can get really creative and even double your rewards, in a sense. I'm not sure if i'll incur any cash advance fees for purchasing GCs with the card through a portal (thats 4% on AMEX GCs through TCB and BF), so i'll wait till someone else tries it lol.

smoothmunkey

Why settle for 2%?

Membersince2013

I'm not necessarily "settling" per say. I'm looking at it as a way to further maximize my MS opportunities. Considering that i can buy a considerable amount of GCs from BJs, Stop & Shop, Rite aid, cash back portals (still questionable) and also add the card to Serve, i guess i think i can get a good amount of cutback every month. I could be wrong though, but i don't think i am.

smoothmunkey

If you're forgoing a 5% CB opportunity on grocery store purchases, you're settling.

Membersince2013

I'm not forgoing. Besides, most CB portals don't allow you to get CB for purchasing GCs from grocery stores online. For example, I don't see any reason why you can't combine the Citi Double Cash's 2% with a portal of your choice in a purchase of Amex GCs (2%) for a total of 4% CB. The only problem with that is Citi and the ways of charging cash advance fees on GC purchases.

Churnman

Too bad it's from Citi. They love to charge cash advances and you don't know until after the purchase. But, it will have it's place in some wallets I'm sure.

commdiver

Can I use the Citi Double Cash card to load Serve at Walgreens?

smoothmunkey

I'd rather walk into a grocery store and get 5% CB just by swiping the card and not having to wait for portals to pay out... Even in your 4% scenario, you're forgoing at least 1%, not including fees of liquidating the AGC, which are more costly to liquidate than VGC from a grocery store.

Mamibear

I will keep on checking feedback on this new card and see how that 2% CB really works. I'm curious why they have to separate 1% wybuy and earn another 1% wypay. I'll keep an eye on sign up bonus soon.

I just wish they made it simple like CapOne QS saying 1.5% on everything. QS also shows CB earned once purchases post.

Membersince2013

TRUE! I didn't think of that. I guess its only useful for stores that aren't considered grocery stores, like Target and others.

Membersince2013

No. It's a credit card.

smoothmunkey

Exactly 2% CB is fine for regular spending at when 5% isn't going to happen, but there are much more efficient CB cards for MS. Happy gaming!

compddd

Can I convert a Citi Dividend card to this one?

Membersince2013

I just started MS, so i'm still trying to get the hang of it. i figured with a card like this, you can bypass BJs $100 rewards membership (which offers 2%) or use it in conjunction with it. At places like Rite Aid, i plan on using my PRG for MS anyways....

1DJonas

A chat representative told me and others that September 7, 2014 is when they will start accepting conversion requests for the card.