Citi Custom Cash℠ Card: Earn $200 after Spending $750 in First 3-Months Expired

I feel AMEX is a perpetuated rumor based on a small amount of heavy abusers, because nobody repeating it ever has any direct experience with it happening. And those in these forums who claim they do never respond with any details. This ends up deterring the average joes from buying even a $100 GC due to the fear mongering, but the real abusers will already know their way around it.

If you have good credit, it seems like a no-brainer. Remember, getting cash back on money you spend is even better than interest on savings as you don't have to pay tax on it.
My current cheap-ass config:

-USAA Credit Card : 5% back on gas
-US Bank Credit Card (choose 2 categories at 5%) : 5% back on TV, internet, streaming services; 5% back on cell phone providers
-City National Bank Credit Card (choose 2 categories at 5%) : 5% back on Utilities; 5% back on gym and fitness stores (Academy, Dick's Sporting Goods)
-Discover It Credit Card : 5% back on rotating categories
-Chase Freedom Credit Card : 5% back on rotating categories
-AMEX Blue Cash Everyday Credit Card : 3% back on groceries
-Citi Double Cash Credit Card : 2% back on everything
-My new Citi Custom Credit Card : Probably will do the 5% back at restaurants, or possibly Home Improvement stores.

Take note that my credit cards are all set to autopay so I never pay interest, they are all 0 annual fee cards, and that the US Bank and City National Bank cards sit in a safe with my other important docs since Internet/TV/Streaming, Cell Phone, Utilities, and Gym are enrolled in online autopay. Also, I use my Discover It for the full $1,500 on Amazon Gift Cards during that quarter, redeem on my Amazon account, and burn through it over the year since my Amazon Credit card seem to keep changing their terms from 3% to 5% and now back to 3%.

If you are willing to commit specific cards for specific purchases, it really is easy to get free savings. Also, most have rewards upon signing up (Citi Custom Cash gives $200 back on spending $750 in 3 months), improve your credit score if you only spend what you have, and usually give some protection through "charge-back" and maybe even built-in warranties.

Remember, if you were to only spend $20,000 a year on bills and purchases using 5% back credit cards, you would get $1,000 (5%) back. What are savings accounts and CD interest rates at today....1%, maybe up to 2% if you find a no frills online bank or use Kasasa Cash Checking accounts possibly? Capital gains comes out on top of that.

Just a heads up, I recently applied for this and got approved - I got a new inquiry on my Experian credit report.

Do you get your card number instantly, online? So you can purchase right away or do you have to wait until a physical card is mailed to you?

Seems like a useless card unless you use it for only one of the categories and you don't spend more than $500/month in that category.

I get advertisements for this in the mail all the time and I never apply because of the ridiculous quarterly limit of $500 spent. Oh wow so in a whole 3 month period you can get a wholeeeee $25 total in 5% cb. So a little over $8 per month. lol. So the bonus at the beginning is the only thing worth having it for. Meanwhile us bank has four times that limit and boa has ffive times it for 3% back.

I mean I guess for when your other ones are maxed out it would be good for an extra $25 every 3 months, though, but still that is a crazy low limit.

It's $500 monthly limit, not quarterly.

except you wouldn't use this card for the other $1000/month. you'd use this for the $500 and your 2% (or other card offering more than 2%) for the $1000 = $45/month

it's pretty good for what it is, a spacefiller. I don't know of any $0 annual fee cards offering 500, 1000 or more signup bonus... I did just get a chase sapphire preferred with a $1250 bonus, but that is a ridiculously good use of a credit pull. this on the other hand, meh $200 for 1/5 of your credit pulls for 2 years is not slick, and $25/month cash back assuming you spend $500/month in each/all of those categories is only semi-slick.