Originally Posted by pinniped

I did not see that ad, but I recall an older version of that card offering a delayed-1% rebate.

You spend the money now, we give you a rebate once a year.

That only approaches a real one-percent rebate for the spending that takes place at the tail end of the "year".

But moreso that the (admittedly small) investment loss on that money, I just don't like the idea that I'm married to a card for any period of time waiting for an award. I don't trust banks to do anything correctly, especially if they are allowed time to think about it. That's why I like SPG Amex and the next-statement-rebaters like PerfectCard. If I decide I want out of that card, it only takes me a month or two to fully part ways with all of my rewards.