6% savings on gas/3% after first year

[DannyD]

There's an offer from Citi Bank for a 6% rebate in fuel purchases in the first year & 3% after that. This offer also applies to grocery purchases & drugstore purchases. I'm guessing your credit is going to have to be pretty good to get this card, as they're not going to give it to just anyone, probably including me.

Still, it might be something to take a look at. Here's the offer. I'm not working for these people or anything like that. They just sent me a credit card offer & when I went to their site, I did some checking around & found other card offers, including this one.

My guess on the criteria you're going to need is something close to:

2+ years at residence.
2+ years on the job.
Balances on other cards at less than 50%
3 or less other major credit cards.
Net to debt at around 50% or below. Net to debt is the ratio of your payments to your income. For instance, if you make $4,000/month your house payment, car payments, & credit card payments must be less than $2000/month. Cable, electric, & payments along those lines don't count against your net to debt.

I realize this is going to eliminate a lot of people, but for those who may qualify it looks like a pretty good credit card to have. Here's the link. If the link doesn't work go to Citibank's website & look under the "Reward Cards".

EDIT: I just took another look at this & the rebate isn't a cash rebate but a rebate that can be applied towards the purchase of a new or used vehicle. They do have a cash rewards card that's simply a 3% cash back rebate. There's quite a list to look at. I have a card that gives a 4% rebate on Speedway purchases & 1% on all other purchases. Every little bit helps. If ya pay your balance off every month it can be a nice savings.

http://tinyurl.com/zkn8e (edited to make post not wider than screen)

Take care,
Danny

 

[LDB]

That can be a good card to have as long as you are aware of the stipulations on the rebate. It isn't like some cards where you get that money back as a credit against your purchases or as a check in the mail. The rebate is primarily intended for automotive expenses you have already paid, either for repairs/maintenance or new/used vehicle purchase. There are some partner companies that will honor the rebate and provide gift cards etc. but I don't think you get a very good exchange rate on those.

You are allowed to earn up to $1000 rebate in any 12 month period. That's the equivalent of $16,666 of in a 12 month period at 6% rebate. After the intro period it would be $33,332 at 3% rebate. If you use it for your fuel, groceries and pharmacy it would be easy to max out at the 6% level.

If you don't redeem your rebate within 5 years it goes away. I presume it's on a monthly basis with the new month purchases going in and the month from 5 years ago dropping off but it could be the entire last year goes away. Considering just the cost of PM's for the truck there would be no reason not to use it up. It could also be saved up for a new truck purchase and provide a substantial discount.

Those are good cards but you have to read the fine print. They have lots of stipulations on them.

Leo Bricker, 73's K5LDB, OOIDA 677319
Owner, Panther trucks 5507, 5508, 5509
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.

 

[DannyD]

>That can be a good card to have as long as you are aware of
>the stipulations on the rebate.

>Those are good cards but you have to read the fine print.
>They have lots of stipulations on them.

That is exactly correct, hence the edit in my post. Part 2 of your comment is also exactly correct. I didn't read the fine print until after I'd made my post. So oops to me on that one.

There's other cards that give a cash rebate though. At the rate we buy fuel, those are worth looking into. If gas is $2.50/gallon, a 3% cash back effectively takes off 7.5 cents.

I use the Speedway card. W/ that I get a 4% cash rebate on Speedway purchases. 1% on everything else. I also buy the gift cards from Speedway which save ya 2% on the spot. Then the rebate kicks in. That saves ya 5.92% total. (the reason it's not 6% is if you buy $100 in gas, the 4% rebate is on $98, not $100).

The rebate is applied to your next months bill. My bill might look something like "purchases $1014" "amount owed $968" or something like that. It's a nice little savings every month.

Take care,
Danny

 

[jeffman164]

Have had my Citi cards for a while but they are for 5% OFF GAS purchases up to a maximum rebate of $300 per year. So I just ordered more cards so that each one has a rebate of $300 per year. Yes , you have to write more checks each month to cover all of the cards but it feels good to BEAT the system now and then. And then to make me feel even better, I use those same credit cards to purchase fuel cards at Speedway for a double bonus !! You can save a lot of $ if you just watch your P's & Q's.

 

[LDB]

>You can save a lot of $ if
>you just watch your P's & Q's.

That's exactly right and goes along with what I posted about the fuel tax on D and E units.

Leo Bricker, 73's K5LDB, OOIDA 677319
Owner, Panther trucks 5507, 5508, 5509
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.

 

[Broompilot]

Purchaser BEWARE, Citi Bank will rip you a new rear end if you do not pay as according to the terms in the contract. You shoud pay off all balances each month as they are one of the credit card companies that looks at all of your credit outstanding and will change the intrest rate from a LOW to a SUPER HIGH cause they feel you are getting out of the so called Green Area into a Yellow or Orange. So just BEWARE.