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OT: Chase & Citibank "Cash Back" Cards, Direct Download, Etc.

A few weeks ago, a few of us were discussing credit cards with free direct download to Quicken, and then we went off on a tangent of "cash back" cards. Here's some more info on that topic.... (All of the cards mentioned below offer direct download.)

Citibank's "Dividend Platinum Select" card offeres 5% back on gas, grocery and drug store purchases, with 1% on everything else. (Rewards are capped at $300 per year, and are dispersed in $50 checks which you must requrest either on the web site or by calling customer service.) There is no limit on rewards earned in their Merchant Network, but I haven't been able to get a list of participating merchants, so I don't know how useful this feature is. There is also $0 fraud liability for the cardholder.

I have a Citibank Quicken MC which I don't use much, since its only real benefit is direct download. I wondered if I could call Citibank and have them convert this card to the above dividend card, since Chase had previously converted cards from one type to another. Someone, don't remember who, thought not. I decided it wasn't worth the call to customer service to find out, so I just applied online for the dividend card (and got it). A couple days later, a Citibank rep called me to confirm some of my info and suggested that their "professional" dividend card would be better for me, since it affords the same benefits as the other card and caps at $600 per year. I said, OK, give me the "pro" card instead. Well yesterday's mail delivered my new Citibank card, so I promptly activated it and tried to log in on the web site, as I had registered when I applied for the card. The web site kept generating an error, so I called customer service. And here's where it gets interesting....

I chose an ID and password when I applied for the Dividend card, but because that application was cancelled and transferred to the "Pro" card, this ID and password is inactive and unuseable. I have to come up with a new ID and password. I can't use the ID and password that I used with the Quicken MC, as it's a different web site. But because that ID and password are in use, I can't use that ID and password on the Citibank web site, either. Apparently the two web sites use the same database. Years ago, I had a Citibank card, and when I cancelled it, my online access was still "out there." I called and asked them to remove the ID/password, and they said it couldn't be done. Of course, that ID & password is not useable either. Now frustrated, I was beginning to remember why I got rid of Citibank years ago. When I explained how I ended up with this "Pro" card that couldn't use the ID & password I selected when I applied, the rep told me the "Pro" card is not a dividend card at all!

It does earn rewards points, but at a lesser rate, and its real value is the ability to keep your business purchases separate from your personal purchases. I told the rep that I didn't want this card, that I had originally applied for the "Dividend" card, that one of their reps had called and talked me into this "Pro" card, so I wanted him to convert it to the "Dividend" card. His response was that this conversion wasn't possible, and all he could do was transfer me to their applications department so I could reapply. I told him that I had already applied and didn't want to reapply. Since he could do nothing for me, I asked to speak with his supervisor. Well the supervisor said that the "Pro" card could be converted to other cards, just not the "Dividend" card, and that I should reapply.

Aargh. I explained that I don't want additional hard inquiries on my credit report, as I may want to refinance my mortgage soon. I also explained that I was so frustrated, that right then I felt like closing all my Citibank CCs and going elsewhere. That's when the supervisor asked what other Citibank cards I have. And of course, it's possible to convert the Quicken MC to the "Dividend Platinum Select!" I then told him to cancel the "Pro" card and asked that the credit limits be combined. Of course, he doesn't know if that's possible and can't find out till Monday when the person "in the know" comes back to work. But at least I'll be getting the "Dividend" card I originally applied for, and it should show up in a week or so. Of course, my card number will change, and I'll have to choose yet another ID & password for the web site! In the meantime, both Citi cards I have are inactive.

At this point, I went over to the Chase web site and discovered that they've got a "Cash Plus Rewards" VISA, which is basically the same deal as Citibank's "Dividend" card. Only here, those $50 rebate checks are automatically mailed to you. So I called them up and asked if my Chase Buy.Com VISA could be converted to the "Cash Plus Rewards" card. The rep said, of course, and voila, it was done. My CC number stays the same, I can still use the same ID & password on the web site, and I can continue to use my existing credit card (and earn rewards) while I'm waiting for my new card, which will arrive in a week. Direct download to Quicken still works, too.

On top of all this, I have to say Chase's direct download to Quicken is consistently more reliable than that of Citibank, which freaks out and stops downloading periodically. The only way I know to fix it is to deactivate and reactivate. Now I'm wondering if I need that Citibank card at all....

Quite a difference in service between Chase and Citibank, eh?

Just thought y'all might find this info handy. BTW, there's an offer in the coupon section of today's paper. If you apply for (and get) the Chase Cash Plus Rewards card, you get a $50 rebate check after your first purchase. (New applicants only.)

Regards,

Margaret

Reply to
Margaret Wilson
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Margaret:

I probably should have realized that the "Pro" Dividend card you mentioned a few weeks ago was the Citi Professional Business Card. It's a shame that you ended up with a hard inquiry when Citi could have just converted your Quicken to a Dividend. *BUT*, cheer up, ONE inquiry is going to have an impact of less than -10 on your sterling FICO score ;-)

That said, I'm surprised at your UserID travails with Citi. I have separate UserID's for Quicken and Citi Cards. But I use the same ID to access my Dividend and Professional Business Card accounts. BTW, AT&T Universal Cash Rewards is also managed by Citi, and has the same reward structure as the Dividend card. AT&T is also a separate web site and UserID, like Quicken. One quirk is that Dividend and regular AT&T Universal cards support Virtual Account numbers, but the AT&T Cash Rewards card does not.

SINCE you qualified for the Citi Professional Business Card, at some point you may also want to look at Advanta's Small Business MasterCard. Advanta claims it's the best card for small business, and I have to agree. ALL your gas, electric, phone and cell bills that can be paid by credit card gets you back 5% cash. You also get 5% back for office supplies, computers, and electronics equipment. 5% back on Overstock.com purchases too.

Minor drawback is that current activity on Advanta is only available as

*.qif. Monthly statements are *.qfx. Hopefully, Advanta will move to Direct Connect sometime in the future.

Be forewarned about UserID's and Chase: Make changes to the accounts you manage by calling, instead of using the web site. I learned the hard way that making changes myself wiped out my UserID. Re-establishing web access entailed choosing a new UserID, and, of course, my old UserID's are no longer available, even though Tech Support marked them as not being in use. I guess what I'm saying is that, since it sounds like you are picky about your UserID, be careful that you don't inadvertently wipe it out.

Good luck on re-financing!

Bob P.S. You are right about Citi's pokey Direct Connect compared to Chase. Not to mention that ALL of Citi was down this morning for Direct Connect.

Reply to
Bob Wang

Hmm, thanks for the info on that Advanta card. I can't find anywhere that mentions a cap on rewards per year. Do you know what it is? I'd go ahead and apply for the card now, but I although I do some consulting "on the side" (sole proprietorship), my business doesn't have a name. Eventually when I retire from my job, I hope to have developed my business such that filling out that "tell us about your business" form doesn't feel so much like I'm making stuff up. ;-)

Thanks also for the warning re the Chase user IDs/passwords. Citibank won't "free up" old user IDs & passwords even if I can prove they're mine. So their database must be *full* of old logins. Their db admins must be thrilled with that one. :-)

Regards,

Margaret

Reply to
Margaret Wilson

Margaret:

The fine print is $300/year maximum, paid out in $50 increments. You'd have to spend more than $6,000 in qualifying categories to max out. Oh, also in the fine print is that OfficeDepot.com, OfficeMax.com etc., may only count as 1% purchases. If you actually get things in the store, you get 5% back.

Advanta *IS* pretty selective, though. I'd make sure you have an established name for your business before applying. You can browse the DOZENS of different card designs from which to choose, but all of them emblazon your business name on the front of the card.

One strategy would be to apply for a Chase Business Rewards card first. Chase's qualifying criteria are MUCH LOWER than Advanta's. Once you get that card, and establish a little bit of a track record for your "business," Advanta will probably solicit you directly ;-)

Citi Business Rewards is another option, but they seem to be a little stricter than Chase Business, just not as picky as Advanta.

Oh, and I wouldn't worry too much about re-financing your mortgage. A few additional inquiries should not adversely affect the rate you are offered. I suspect that it makes no difference whether you are a 750 or 850 in order to get the best rate. However, if you end up holding a few dozen cards with HUGE limits, lenders may get a little antsy ;-)

Bob

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Terms and Conditions: Cash Back rewards of 5% are earned on all qualifying purchases of "gasoline and diesel fuel", "computers, computer supplies, electronics and office supplies", "utilities and telecommunications", "ground transportation", "courier" and "Overstock" items.

Qualifying purchases are Net Purchases that 1) are made at retail establishments which for "gasoline and diesel fuel" are classified as gas stations that process the transactions as fuel purchases; for "computers, computer supplies, electronics and office supplies" are classified as computer, computer peripheral equipment and software distributors, electronics stores, computer software stores, or office supply stores; for "utilities and telecommunications" are classified as utility or computer network service providers; for "ground transportation" are classified as taxicabs, limousines, railroads, ferries, buses or tolls; for "courier" are classified as courier services that are offsite pick-up or bin services only (not including any in-store courier services or the US Postal Service); for "Overstock" are Overstock's online website at

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and 2) are communicated by merchants to Advanta using appropriate merchant category and transaction codes. Important Note: Mail, telephone, catalog, and some Internet purchases, and purchases made indirectly through intermediaries, may not qualify; merchants may classify these transactions differently.

Cash Back rewards of 1% are earned on all other purchases.

A maximum of $300 in Cash Back rewards can be earned on this account in any enrollment year.

Reply to
Bob Wang

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