Citi® Double Cash Card: Balance Transfers Expired

When you buy an electronics item for which you like the security of extended warranty on which of your cards do you generally put it on? An expensive iphone purchase is an example. Thanks.

Almost always a Citi card that offers the 2 year extra warranty instead of the 1 most others offer.

When I got my last iphone I double-dipped benefits by getting it at Best Buy in a quarter the Citi Dividend card was giving 5% cash back at BB (this is before they removed the warranty benefit from that card).

Now my go-to is the Citi Prestige which still offers it... though for this card to be worthwhile beyond its signup year you generally need to get at least one great (or two good) uses out of the 4th night free hotel benefit.... which was easy pre-covid, but possibly somewhat challenging right now.

Thanks.
My general issue is that I don't like having more than a couple of cards. I only wish there was a single all round card, but unfortunately there isn't one.

It wouldn't make any sense for a bank to offer one- they'd lose money on it consistently.



What banks hope is folks too lazy to use multiple cards will pick one card that's a money-loser for the bank in one very specific area (say, a gasoline cash back higher than the swipe fee) but a money-maker for all other spend that the person will ALSO put on that card.

The only way to maximize value is to use different cards... (and also grab as many signup bonuses as you can afford the spend on as they generally offer the highest return on spend over anything else).

When not doing a signup I've typically got 3-5 different cards I'd switch between depending what is being purchased and from where.

I don't need to actively carry all of them- for example my Ink Cash card is only used to pay phone and internet bills so no need to ever carry that card, and one of my BoA Cash rewards cards gives me 5.25% cash on online purchases, so no need to carry that around either.

Everyone's needs will vary but for me I only usually need to "carry" non-signup cards to cover restaurants, grocery stores, and non-category spend.... which at the moment are Prestige (5x Citi TYP), Amex EDP (3x MR grocery, or 4.5x if you make enough transactions), and BoA Premium Rewards (2.625% cash on non-category)

I'd sub a freedom in for restaurant or grocery when those are 5x quarters, and probably my Ink Unlimited for the non-category spend once travel resumes and I start eating through UR again.

Chase Slate is only 15 months but 0% balance transfer fee.

The slate itself sucks as a card to actually use for anything other than the BT, but if you're mainly concerned about the BT, and the 3 extra months won't kill you, it saves you 3% of however much you're transferring over this... plus once you're done with the BT you can product change it into a genuinely useful card like a Freedom or something.

How do I apply?

So first, you're gonna need a time machine, since you're replying to a post from almost a full year ago, regarding an offer/card no longer available.

Once you've got that let me know as I'd like to borrow it for a few things.

This is dumb but can I transfer balance from Chase Sapphire Reserve to Chase Slate? Or would I have to transfer to DiscoveryIT instead? I really want to consolidate my credit card balances.

It wouldn't make any sense for a bank to offer one- they'd lose money on it consistently.



What banks hope is folks too lazy to use multiple cards will pick one card that's a money-loser for the bank in one very specific area (say, a gasoline cash back higher than the swipe fee) but a money-maker for all other spend that the person will ALSO put on that card.

The only way to maximize value is to use different cards... (and also grab as many signup bonuses as you can afford the spend on as they generally offer the highest return on spend over anything else).

When not doing a signup I've typically got 3-5 different cards I'd switch between depending what is being purchased and from where.

I don't need to actively carry all of them- for example my Ink Cash card is only used to pay phone and internet bills so no need to ever carry that card, and one of my BoA Cash rewards cards gives me 5.25% cash on online purchases, so no need to carry that around either.

Everyone's needs will vary but for me I only usually need to "carry" non-signup cards to cover restaurants, grocery stores, and non-category spend.... which at the moment are Prestige (5x Citi TYP), Amex EDP (3x MR grocery, or 4.5x if you make enough transactions), and BoA Premium Rewards (2.625% cash on non-category)

I'd sub a freedom in for restaurant or grocery when those are 5x quarters, and probably my Ink Unlimited for the non-category spend once travel resumes and I start eating through UR again.

TIP: You are losing 2% pa on the high balance you maintain in your BoA accounts... in order to avail of higher Cashback bonus. Once I realized I moved all but minimum funds to a reputed online Savings Bank Account paying around 2% pa (it fluctuates). BoA was paying 0.01% interest on savings account.

... what kind of sucker keeps $100,000 in a savings account?


The $ I've got plat honors status with via BoA is in a Merrill lynch investment account and earns a whole lot more than 2% a year.

If the stock market is right now in bubble territory (like it was from 2007 to 2009), the person who has his money sitting tight and safe in BOA savings may come out ahead once the bubble bursts

. Remember the market is right now where it was pre COVID. Does it make sense to you that pre-COVID and post COVID the stock market is valuing the economy as identical? Maybe now is the time to sell stocks not buy more of it!

There's literally no place else to put your money and expect a decent return- exactly because interest rates on things like savings accounts are so terrible.

So yes it makes perfect sense.

The annual return the S&P500 index has given on average for the last nearly 100 years is ~10%. Which is $10,000.

.

No one was talking about long term return.

The market doesn't always go up and up.