Does this credit card look legit?

Akilae729

So I was talking with my boss about getting a credit card for purchases like food and gas. There is a Citi Bank one that hooks up %5 cash back for six months and then 2% on gas and 1% on everything else. No annual fee. If gas is $5 a gallon, thats 25 cents off a gallon for six months. Seeing as I'm spending about $100 dollars a week on gas this summer for my job it makes a lot of sense. Hell, my boss has had the card for a few years, and they just cut him a check for $700 bucks.

Now, I've never had a credit card before (20 years old) and I don't plan on using it for the purpose of credit. I just want to use it to buy things that I would already buy, never carry a balance on it, and just reap the rewards benefits. (I don't live above my means, and if I only use it for gas and food, I won't fuck myself over)

It seems all on the up and up to me but I'm new to this whole thing so i just wanted to make sure there isn't something in the fine print that won't straight fuck me in the ass some how.

Really big link

http://creditcards.citicards.com/usc/cash/dividend/default.htm?BTData=C02127E7460617459544A43B8BEB3ACA198928493F9FBF1E8EAC5C2D6F1133D6&BT_TRF=673773&BT_CON=73&app=UNSOL&sc=4T4ZJAW8&m=4CK6000000W&langId=EN&siteId=CB&B=M&screenID=3000&t=t&uc=2UH&link=Consumer%5F57283042&ProspectID=E899A4F4DA2049E2AB90550DF3600BA9

starlancerii

I don't have the card myself, but I've been offered this card, and I'm considering it. I'd also appreciate any thoughts you folks have on this card.

Akilae729

It looks like there is a $300 dollar a year limit on the cash back rewards. But unless you spend $15,000 on gas a year, that really should not be a problem.

winter_combat_knight

Its hard to tell with these. Who knows, from what you have said, some people may be able to take advantage of it in that way, as banks prey on most other people who will use it for credit.

Think that made sense...

Seattle Thread

Credit cards are credits cards are credit cards. As long as you pay your bill in full on time and don't go over your limit, you will be fine. If they offer such perks that you've described, they'll have to uphold it... honeslt,y though, 1% and 2% might add up to a large sum over a long period of time, but even in thr course of year it's not that much. They aren't losing anything compared to the interest they earn from those with poor credit habits.

Also, $100 a week in gas? What the hell do you do? I drive an eight-ton cube van that gets eight miles to the gallon all around the city, and it only costs about $80 a week to fuel up.

Crashtard

Akilae729 wrote: »

It looks like there is a $300 dollar a year limit on the cash back rewards. But unless you spend $15,000 on gas a year, that really should not be a problem.

No, that's only for balance transfer rewards. There doesn't appear to be a limit from what I can see on the rewards. It looks like a pretty decent card. Just remember that they ARE out to fuck you over.

Akilae729

Makershot wrote: »

Credit cards are credits cards are credit cards. As long as you pay your bill in full on time and don't go over your limit, you will be fine. If they offer such perks that you've described, they'll have to uphold it... honeslt,y though, 1% and 2% might add up to a large sum over a long period of time, but even in thr course of year it's not that much. They aren't losing anything compared to the interest they earn from those with poor credit habits.

Also, $100 a week in gas? What the hell do you do? I drive an eight-ton cube van that gets eight miles to the gallon all around the city, and it only costs about $80 a week to fuel up.

I drive about 50 miles each way to work daily because my job is in the middle of the desert. Then I drive about 70 miles one way into LA every weekend so i can hang out with friends and crash on their couches. Even at 30 mpg that kinda mileage gets expensive. Especially when gas is sitting around $4.60 With carpooling I can get the weekly gas total to about $60 ish but schedules don't line up a lot of the time

And yeah, the card seems good to me to, and I'm definitely on the look out for getting fucked over. Now the only question is whether or not they accept me for one.

MrMonroe

I find it very odd that they're giving you 0% on balance transfers and only as low as 10.99% on purchases... usually they get you with a 0% deal on purchases and balance transfers actually cost.

Apply for it, but don't sign for it unless they give you a reasonable APR on purchases. If they hand you a deal with 15% it's not worth it.

That said, it is good for your credit rating to have a card that you use regularly and pay off equally regularly, and this is about as good as any considering how the perks line up with the way you spend money.

Thanatos

MrMonroe wrote: »

I find it very odd that they're giving you 0% on balance transfers and only as low as 10.99% on purchases... usually they get you with a 0% deal on purchases and balance transfers actually cost.

Apply for it, but don't sign for it unless they give you a reasonable APR on purchases. If they hand you a deal with 15% it's not worth it.

That said, it is good for your credit rating to have a card that you use regularly and pay off equally regularly, and this is about as good as any considering how the perks line up with the way you spend money.

As long as you pay off the card every month, your APR doesn't matter.

I have a card with a 23.99% APR. I just don't give a shit, because I never, ever pay any interest.

Shazkar Shadowstorm

Yeah. I have like.. 2 regular credit cards with terrible APRs but only dummies pay interest on credit cards

grungebox

I've had that same Citi card since 2004. You have to request the rebate check yourself, it's not automatic. It also has to be a minimum of $50 before they'll send a check, so you have to wait before you get your rewards. But, yes, it's a legit card.

Szechuanosaurus

That seems fairly legit. The Amex blue gives you 0.5% cashback on your annual spend up to some amount (£3,000 I think it might be in the UK) and then 1% for your annual spend over that. The other Amex cards with an annual fee give even better percentages back.

The Amex system only gives you the money back once a year (calculated on your total 'eligible' spend for that year) but it just credits it back onto your card and doesn't matter how small an amount you've earned back.

These offers make a hell of a lot of sense to a responsible consumer. Pay off your bill each month and it's like your earning money for going shopping. We use the Amex for the weekly shop, refilling the car and most medium to large purchases these days to make sure we get over the 0.5% barrier each year - all money we'd be spending anyway but now we get a magical discount that we wouldn't otherwise earn.

AngelHedgie

Personally, I like the Costco American Express card, because it has a bit more robust rewards:

• 3% on dining
• 3% on gas (this is 5% on the corporate version)
• 2% on travel
• 1% on all other purchases

The 3% on gas which was just added this year is very sweet. In addition, the card acts as your membership card for Costco, which in turn adds an additional layer of security on the card (your photo is on the back).

Scooter

grungebox wrote: »

I've had that same Citi card since 2004. You have to request the rebate check yourself, it's not automatic. It also has to be a minimum of $50 before they'll send a check, so you have to wait before you get your rewards. But, yes, it's a legit card.

I've had this card since at least 2001, maybe earlier. It's a pretty standard thing, I don't know what would look sketchy about it. I've made a couple hundred off of it, probably at least a hundred a year or so.


1% back on tuition costs? Yes pls.