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Citi Custom Cash 5% credit card: new, better offer to earn $300 after $1000 spend available online
For those unaware, the Citi Custom Cash is a relatively new card that gives 5% back on up to $500 of spending each billing cycle in the category you spend in most (e.g. groceries, dining, gas). No having to figure out what the current quarter's bonus category is to get 5% back.
Previously the only offer available online for this card was $200 on $750 of spending in the first 3 months. You can browse that thread for more info and comments about the card. (There was a $300 offer available in Citi branches, but those are only found in major US cities.)
To find this offer, simply log in to Credit Karma and browse suggested credit card offers and you should see it. Alternatively, you can find a direct link on this reddit thread. I'm not posting the direct link itself as I'm assuming SD will mangle the URL.
Previously the only offer available online for this card was $200 on $750 of spending in the first 3 months. You can browse that thread for more info and comments about the card. (There was a $300 offer available in Citi branches, but those are only found in major US cities.)
To find this offer, simply log in to Credit Karma and browse suggested credit card offers and you should see it. Alternatively, you can find a direct link on this reddit thread. I'm not posting the direct link itself as I'm assuming SD will mangle the URL.
Created 11-10-2021
at 07:21 AM
by GaiaGeek
in
Credit Cards
(3)
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204 Comments
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1. Open card, paypal my brother $500 in month 1, he gives me $480+ cash back and my bill is $475 if I redeem the 5% reward immediately
2. In Month 2, I repeat step 1 and receive a $300 statement credit/reward in addition
Are there any flaws in this plan that I may have overlooked? I dont really care about my ability to borrow money (800ish fico) otherwise
1. Open card, paypal my brother $500 in month 1, he gives me $480+ cash back and my bill is $475 if I redeem the 5% reward immediately
2. In Month 2, I repeat step 1 and receive a $300 statement credit/reward in addition
Are there any flaws in this plan that I may have overlooked? I dont really care about my ability to borrow money (800ish fico) otherwise
Maybe im wrong, but paypal isn't an eligible category for 5%. Even if it was, you'll be losing $40 on paypal fees?
Why not just but groceries, and at the end of the billing cycle buy a grocery store gift card for the remaining balance to make $500?
Why not just but groceries, and at the end of the billing cycle buy a grocery store gift card for the remaining balance to make $500?
Without being long winded, this would be more side hustle stuff for me/fun $ as 100% of my paychecks go to running the household.
1. Open card, paypal my brother $500 in month 1, he gives me $480+ cash back and my bill is $475 if I redeem the 5% reward immediately
2. In Month 2, I repeat step 1 and receive a $300 statement credit/reward in addition
Are there any flaws in this plan that I may have overlooked? I dont really care about my ability to borrow money (800ish fico) otherwise
Why not just but groceries, and at the end of the billing cycle buy a grocery store gift card for the remaining balance to make $500?
You are right. He won't get the 5%. He will get 1%.
I am interested if this trick will work.
It should especially if he doesn't select Pay Friends and Family.
His brother will end up paying 2.9% + 0.30 in fees on the $300 he receives.
He will need to reimburse his brother $9.00
If he does it again the next statement for $250, he needs to reimburse his brother $7.55
$9.00 + $7.55 = $16.55
1% of $750 = $7.50
But he also gets $200.
Will this work?
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For my mom, this card is being used for groceries unless Chase's quarter is also groceries.
Then she'll switch over to gas for the Citi.
My statement cycle began from the day I was approved.
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