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Cash Back Gimmick?


Jeff Matthews

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Anyone here use cash back credit cards?

 

I do... for almost everything.  It's a Costco Anywhere Visa.  The cash back adds up, and there's no limit.

 

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There is no limit to the annual cash back you can earn on purchases with the Costco Anywhere Visa Card by Citi.

 

So, I get these "Special Offers" all the time to sign up for 5% on some category of spending for a limited period.  This month's offer is Home Improvement Stores.

 

I never have signed up for those, wondering why you have to sign in the first place.  

 

Just for grins, I thought I'd check the small print to see if there's a catch.  Here it is:

 

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This offer starts within two business days of when you enroll, or July 1, 2020, whichever is later, and will end on September 30, 2020. During the offer period, you will earn an additional 4% cash back on eligible purchases at Home Improvement stores and Select Streaming Services. Your total annual (calendar year) cash back is limited to $300 and includes additional cash back earned in connection with this offer. (emphasis mine)

 

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My cards always state up front the special 5% offer is up to a certain amount, such as spending up to $1500 for the quarter.  Depending upon your credit rating, ymmv Jeff.  Never is it mentioned a limit for earning cash back for the year.  I don't have the card you mention.

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1 minute ago, BigStewMan said:

one of my Citibank cards has cash back ... they just sent me an email saying that I have $283 in cash available.  They make it sound so good ... I've had the card well over a decade. Better than nothing, I guess. 

 

You probably have to ask for it to get them to send it to you in the form of a check.  Don't just let it sit there, waiting for something to cause it to be forfeited.  Just call them on the phone and tell them you want your $$$.

 

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1 minute ago, oldtimer said:

My cards always state up front the special 5% offer is up to a certain amount, such as spending up to $1500 for the quarter.  Depending upon your credit rating, ymmv Jeff.

That's a different issue.  In my case, accepting the new offer forfeits my rights under the original terms.

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Just now, Jeff Matthews said:

 

You probably have to ask for it to get them to send it to you in the form of a check.  Don't just let it sit there, waiting for something to cause it to be forfeited.  Just call them on the phone and tell them you want your $$$.

 

they claim it never expires; but you never know ... I suppose there are many that never thought their pensions would go away.

 

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My Apple Visa or MasterCard (can't recall which it is) allows me to credit any cash-back towards the monthly payment. 

I got that card last year when I needed a new laptop and saw that it was giving 6% back on purchases. I figured why not get a little back since they were getting my money anyway.

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With my BOA from what I understand, I just use those "offers" anytime to earn extra cash back, don't think its ever forfited any other rewards. Plus I get to choose what I want my 3,2, or1 percent back on, such as gas, groceries, or everything else.

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1 hour ago, Jeff Matthews said:

Anyone here use cash back credit cards?

 

 

-------NO --------i PREFER AIR MILES , BUT with covid 19----------flying means you can land in Hospital   ------and earn Air-Miles with a one way trip to heaven  ------in 1st class with a ventilator -

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  • 1 year later...
21 hours ago, Weni said:

Hey guys, do cash back cards actually give you money? I am new to this, who can explain how it works?
 

Yes, they give you real cash back.  However, make sure you pay your balance off monthly or you could end up with more interest than cash back.   BOA gives me 3% for groceries, 2% gas, and 1% everything else.  I've spent $300-$400 this year so far of cash back money on audio purchases, currently sitting with $55.00.  

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I was getting 5% back on Shell gas with a Shell Mastercard. When the cash back reached $1,000, I got a letter from them saying they would no longer be honoring the program with me. How rude was that?
 
 
That's a [emoji533] move.

Sent from my SM-G986U using Tapatalk

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  • 2 weeks later...

I have another question. How to withdraw the earnings? I started using ibotta after having read the reviews at https://ibotta.pissedconsumer.com/customer-service.html. However, I don't get how to get those cash backs. How can I withdraw my earnings? Tried to address the ibotta customer service, but haven't receive the answer yet. Any thoughts?

Edited by aranas
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