MOST LIKELY DEAD! Citi CashReturns MasterCard - UNLIMITED 5% cash back for 3 months

whywhq said: all my citi cards including the cashreturn were closed last week without any notifications. Called and they said I have too many credit cards! (2citis, 4 chases, 3 AMEX, 3 boa).

However, I did not apply any cards after I got the citi cashreturn card. Their excuse seems ridiculous. If I have too many cards, why you still approve my application?

I have more than $1000 cashreturn bonus and $80 dividend bonus in the two cards. they said the bonus programs have been closed for my accounts too and I will not get the bonus back.

I am thinking to take legal action if they refused to give the bonus money back to me. how much chance I can win?

Do you have large balances on your other cards?

whywhq said: all my citi cards including the cashreturn were closed last week without any notifications. Called and they said I have too many credit cards! (2citis, 4 chases, 3 AMEX, 3 boa).

However, I did not apply any cards after I got the citi cashreturn card. Their excuse seems ridiculous. If I have too many cards, why you still approve my application?

I have more than $1000 cashreturn bonus and $80 dividend bonus in the two cards. they said the bonus programs have been closed for my accounts too and I will not get the bonus back.

I am thinking to take legal action if they refused to give the bonus money back to me. how much chance I can win?

As this is clearly a very serious action by citi that would be very painful to anyone maximizing this card it would be greatly appreciated if you could share some more detailed information about your situation.

How long of a credit history do you have?
Approximate fico?
How old is your oldest citi card?
Approximately how old are those other cards you mention?
What is your total CL available on your cards and utilization?
What was your limit on this Citi card?
How much were you spending on this card? ($1000 in rebates indicates about $20,000 in a month)
Was this the first month you had the card?

Now for helping you: Get legal action out of your head (waste of time and money). Others can chime in hear but I would recommend calling back and seeing if they will keep your accounts open but lower your limits to a level they feel comfortable with. You could offer to provide documented income/assets. If they balk on keeping them all open then push nicely for just the cashreturn card. If this fails I would consider a letter to the CEO's office.

Good luck!

I have a feeling we will be seeing more and more of this - the housing crunch is going on - the credit card crunch (unsecured $$ out there, and LOTS of it) will be coming soon also...

holla said: DaveHanson said:

Also, has anyone yet had grief making mid-cycle payments so as to charge more on the card? That's generally high-risk activity

I never knew that making a mid-cycle payment was considered a high-risk activity. Why is that?

Yes, I wonder why...

If you can make payments early that shows the creditor you have the money... they should consider it more high-risk if you always pay exactly on the due date.

BrianGa said:
The credit card issuer has does not like this, I believe, because they have put out $1800 which is subject to chargeback, etc. when they only wanted to have a risk of $1,000 on you.

Wait, doesn't credit card issuer GET the money in case of chargeback (directly from retailer or whoever)?

I had a friend get this card shut down because he was making big mid-cycle payments. Sucks because he's a big spender and will lose a few grand in bonuses . If you want to play it safe, don't overpay Citi - stick to spending within your CL per month.

I'm sure there's more to this. I've churned my credit approx. 3 times in November on my cash returns card. Made a total of 4 payments (3 thru my bank, 1 thru citi's website). No problems whatsoever...

so, what are you guys doing to rake in thousands of bonuses a month? that's $20k of spending a month, just to get a single thousand of TYP.

i'm assuming these aren't physical purchases from a store, unless you own a business, but more like funding new bank accounts and "buying" stuff from google checkout. but the few banks that allow funding from a credit card seem to restrict the amount, and google has been cracking down on google checkout misuse, so what else is there? anyone want to let me in on the secret?

Hi gizmoduck,

Here's what I did: I paid my property taxes (2.5% surcharge - 5% CashBack), my grad-school tuition, prepaid my auto-insurance, paid all medical expenses out-of-pocket and then filed claims (not too much though) and also, bought 1000$ Target and WalMart gift-cards. My family goes thru them very fast... I plan to buy a car soon, for which I will at least partially pay on the CC. I also prepaid utilities for the next 6 months wherever possible.

Those are just a few ideas. I'm sure others are much more more ingenious.

Good luck
-G

gizmoduck said: so, what are you guys doing to rake in thousands of bonuses a month? that's $20k of spending a month, just to get a single thousand of TYP.

i'm assuming these aren't physical purchases from a store, unless you own a business, but more like funding new bank accounts and "buying" stuff from google checkout. but the few banks that allow funding from a credit card seem to restrict the amount, and google has been cracking down on google checkout misuse, so what else is there? anyone want to let me in on the secret?

gizmoduck said: ok, i understand that it's something sensitive that would end if too many people got in on it. but, how about a friendly private message to a poor college student ? that wouldn't hurt anybody would it?

1. He might have sworn secrecy, or,
2. The technique is not that straightforward ...

Most of the FWF techniques were eventually killed due to the wide-spread knowledge and extreme exploitation from greed, IMO. The very few techniques that are still feasible are very much closely guarded and hush-hush.

Buy FAR stuff and resell it on fleabay.

DaveHanson said: My first billing cycle closed yesterday. Rewards information looks like this:CitiDollars - Lifetime Activity
Previous Statement CitiDollars Total 0.00
Total CitiDollars Earned This Period 244.13
Total CitiDollars Available 0.00
Since checks are sent automatically once $50 is reached, do you card veterans I assume I have nothing to worry about? Perhaps they just haven't processed it yet.

I think it's because they base that $50 as earned on non promo 1%, And looks like your $244 is just shy of $250 so it doesn't show up. But you should still get the check mailed to you

Folks,

My first statement closed in just 6 days, after I got the card. If that qualifies as "1 month", Citi's screwed me.

Has anyone had any luck trying to get Citi to accept 90 days instead of "3 months"?

-G

ecjjones said: I never received checks at $50 intervals. Mine came once a month, the entire amount for the month (usually about $200+)

My 5% offer is over...

Im considering getting a Citi Dividend card. Is 3 months too short of time, to apply for another Citi card?

You don't receive the checks at $50 intervals, they just send it out if you cross that threshold. And if you are going to apply for another Citi card, you may as well apply for another Citi CashReturns card for 5%. I did. 6 months of 5% is better than 3, no?

ecjjones said: How would I get another Citi 5% card? I am single.

Is that a propostion?

Just kidding...

It doesn't state in the Terms and Conditions that it will allow only one of these cards per individual or household. My guess is they treat the application for this card in a similar way to all Citi cards, independently. Instead they will focus on your credit worthiness, total Citi cards, total credit line they've already extended to you, household income. I hope to get a third in a couple months, although with the number of Citi cards I currently have, that probably won't be happening...

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The online statement does not list rewards bonus correctly. So far I have gotten my check the day before I have gotten my paper statement that has shown rewards correctly. Sit back and wait for check or paper statement.

Thanks for confirming everyone. I'll relax.

just got mine today!

[jesse spano] I'm sooo excited, I'm sooo excited...I'm soo...scared [/jesse spano]

I've read this entire thread and even participated in it.

Anyway, I've seen somebody warn that if you close an account so as to move the line to the Cash Returns card, you will cancel the 5% back promotion in so doing (either that or it only cancels the promo rate offer). The cancellation of the 5% bonus period obviously would be a disastrous unintended consequence.

I can ask them when I initiate the close of my Dividend card but would love to hear if any of you who've already closed, reallocated to cash returns, and then seen a billing cycle pass: can you confirm that that the 5% promo is MAINTAINED and it's all good?

Thanks.