$100 Credit Protector Gas Rebate (easy way to cash out full amount)
Dec 16, 2006, 1:25 am
#1
Original Poster
Join Date: Mar 2005
Posts: 82
$100 Credit Protector Gas Rebate (easy way to cash out full amount)
A month or so ago I posted an offer I got from Citi to sign up for their Credit Protector in exchange for a $100 gas rebate (you can cancel with no fees). A few people replied saying that this wasn't new, and it wasn't as good as it sounded because you only got $25 every three months.
I received my rebate form, and instead of 4 quarterly $25 gas certificates I got a single $100 rebate coupon, but it wasn't loophole free. The gas had to be purchased within a 30 day window,and you had to save the receipts from each purchase.
This sounds like a major inconvenience, but I found an easy fix that may or may work for some people. I live in an overly expensive touristy area where gas is about 15% over the average. Most locals purchase gas from cheaper stations and avoid the local pumps. So, I went to the station, told the owner what I was doing, and told him I wanted to prepay $100 in gas. He printed me a receipt, I sent it to Citi, and got my $100 rebate just like that.
Maybe this would be hard at a large chain gas station, but if you know a small independent station it is a free $100 (well $85 if I consider the expensive gas in my area).
I received my rebate form, and instead of 4 quarterly $25 gas certificates I got a single $100 rebate coupon, but it wasn't loophole free. The gas had to be purchased within a 30 day window,and you had to save the receipts from each purchase.
This sounds like a major inconvenience, but I found an easy fix that may or may work for some people. I live in an overly expensive touristy area where gas is about 15% over the average. Most locals purchase gas from cheaper stations and avoid the local pumps. So, I went to the station, told the owner what I was doing, and told him I wanted to prepay $100 in gas. He printed me a receipt, I sent it to Citi, and got my $100 rebate just like that.
Maybe this would be hard at a large chain gas station, but if you know a small independent station it is a free $100 (well $85 if I consider the expensive gas in my area).
Last edited by wtsuppr415; Dec 16, 2006 at 10:36 am
Dec 16, 2006, 10:35 am
#4
Original Poster
Join Date: Mar 2005
Posts: 82
Dec 16, 2006, 10:50 am
#5
Join Date: Sep 2006
Location: SFO
Programs: BA Avios, UA MP, AA, Choice, Club Carlson
Posts: 1,096
Turned in receipts charged with a different card, within 30days, and got 100 bucks in the mail no questions asked. Took 15+ min to cancel Credit Protector though...they transfer you multiple times to try to keep you.
Dec 18, 2006, 11:55 pm
#7
Original Poster
Join Date: Mar 2005
Posts: 82
Dec 19, 2006, 4:50 am
#8
Join Date: May 2004
Location: Home
Programs: AA, Delta, UA & thanks to FTers for my PC Gold!
Posts: 7,676
Some Questions
A month or so ago I posted an offer I got from Citi to sign up for their Credit Protector in exchange for a $100 gas rebate (you can cancel with no fees). ....
I received my rebate form...a single $100 rebate coupon, but it wasn't loophole free. The gas had to be purchased within a 30 day window,and you had to save the receipts from each purchase.
I received my rebate form...a single $100 rebate coupon, but it wasn't loophole free. The gas had to be purchased within a 30 day window,and you had to save the receipts from each purchase.
1. How long did it take to receive your rebate form, assuming it's coming with the enrollment package?
2. How long did it take for you to receive your $100 rebate (meaning from the day you mailed in your receipts)?
3. Did you call in and cancel your trial before or after you got your $100 rebate? (or would it affect the gas rebate redemption if you cancel the trial before the rebate was fulfilled?)
TIA.
Dec 19, 2006, 8:18 pm
#9
Join Date: Feb 2001
Location: Fairfax, VA
Posts: 164
Good lord - take a look at the terms of this program - $.85/month/$100 card balance. That's an effective rate of 10% annually for what is little more than an incredibly limited life insurance policy. No wonder banks are getting so rich off of user fees.....this program only makes fiscal/acturarial sense for cardmembers over the age of 92 or so.
Of course, we're not here looking for the insurance; we're looking for the free gas with a program cancel before 30 days. I'm in just to stick it to Citi.
Of course, we're not here looking for the insurance; we're looking for the free gas with a program cancel before 30 days. I'm in just to stick it to Citi.
Dec 19, 2006, 9:32 pm
#10
Join Date: May 2004
Location: Home
Programs: AA, Delta, UA & thanks to FTers for my PC Gold!
Posts: 7,676
Last edited by lin821; Dec 26, 2006 at 9:06 pm
Dec 19, 2006, 11:07 pm
#11
Original Poster
Join Date: Mar 2005
Posts: 82
I did see this offer a while ago but haven't taken advantage of. If you don't mind answering some questions, wtsuppr415:
1. How long did it take to receive your rebate form, assuming it's coming with the enrollment package?
2. How long did it take for you to receive your $100 rebate (meaning from the day you mailed in your receipts)?
3. Did you call in and cancel your trial before or after you got your $100 rebate? (or would it affect the gas rebate redemption if you cancel the trial before the rebate was fulfilled?)
TIA.
1. How long did it take to receive your rebate form, assuming it's coming with the enrollment package?
2. How long did it take for you to receive your $100 rebate (meaning from the day you mailed in your receipts)?
3. Did you call in and cancel your trial before or after you got your $100 rebate? (or would it affect the gas rebate redemption if you cancel the trial before the rebate was fulfilled?)
TIA.
1. About 2 weeks.
2. Not exactly sure...it was waiting for me when I got back from a long trip. I would guess at least a month or two but can't say for sure.
3. To be honest, I haven't canceled yet. I don't carry a balance so I just figure I'll cancel it next time I have a reason to call in. I suppose if you don't carry a balance it may actually be a good deal. Since I pay the card in full every month it is like free insurance. If I have a balance it means something bad has happened, so there really isn't much of a downside.
Regardless, I'll cancel soon, but I'm in no rush. I may also wait until I get my next $100 from my other Citi card.
Dec 19, 2006, 11:28 pm
#12
Join Date: May 2004
Location: Home
Programs: AA, Delta, UA & thanks to FTers for my PC Gold!
Posts: 7,676
You better double check your statement and see if you had been charged for the program. If you haven't cancelled it, you should have been. According to the terms, your account will be charged .85/per $100 balance appeared on your statement closing date. Even you pay your balance in full every month(meaning you pay it full by the due day), that only sets you free from any interest charge. As long as you actively use your Citi card, you DO have a balance on the statement closing date (no matter you pay it full or not), thus are bound to be charged by the program.
Dec 19, 2006, 11:50 pm
#13
Original Poster
Join Date: Mar 2005
Posts: 82
It sounds you are actively using the card.
You better double check your statement and see if you had been charged for the program. If you haven't cancelled it, you should have been. According to the terms, your account will be charged .85/per $100 balance appeared on your statement closing date. Even you pay your balance in full every month(meaning you pay it full by the due day), that only sets you free from any interest charge. As long as you actively use your Citi card, you DO have a balance on the statement closing date (no matter you pay it full or not), thus are bound to be charged by the program.
You better double check your statement and see if you had been charged for the program. If you haven't cancelled it, you should have been. According to the terms, your account will be charged .85/per $100 balance appeared on your statement closing date. Even you pay your balance in full every month(meaning you pay it full by the due day), that only sets you free from any interest charge. As long as you actively use your Citi card, you DO have a balance on the statement closing date (no matter you pay it full or not), thus are bound to be charged by the program.