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RS4Rings
- Senior Member - 7K
posted: Aug. 3, 2007 @ 3:16p 
Drogean said:how easy is it to close this card after the 3 months of 5%?
and are there any fees?
because i think most of us will do just that as soon as the 5% runs out.
Most FW'ers would never close a card. For me at least I would just wait for the next CITI deal and then close and reallocate to it. I like just keeping one open card from every issuer, Makes it easy to get new ones and CL's have become large this way |
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MegaKimcheeLove
- Happy Member
posted: Aug. 3, 2007 @ 3:38p
scott1961 said:BankofGreed said:Is it possible to convert another citi card to this in order to take advantage of the 5% Cash Back?
Not sure if you can convert but I called CITI and asked if I could close and reallocate my line from Diamonds Preferred to this one and was told I could. So as soon as I get mine I plan on doing that. Hope I get a decent line and then I can add the $62,500 CL. Got that high by Closing my CITI Hilton and adding to my Diamond. So I only have 1 CITI card and should have no problem getting this one One important thing to note: you can only make up to 4 payments per payment period towards your balance. So if you don't get a high CL or can't reallocate, remember that you can only "cycle" your payments 4 times. So, only 4 PayPal payments a month for you! |
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RS4Rings
- Senior Member - 7K
posted: Aug. 3, 2007 @ 3:41p
MegaKimcheeLove said:
One important thing to note: you can only make up to 4 payments per payment period towards your balance. So if you don't get a high CL or can't reallocate, remember that you can only "cycle" your payments 4 times.
So, only 4 PayPal payments a month for you!
What's Paypal? And I am not worried about getting a large CL |
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MegaKimcheeLove
- Happy Member
posted: Aug. 3, 2007 @ 3:42p
igorthesmall said:what are the fees to paypal money to yourself? Approximately 2.9% if you don't have any type of regular payments going through PayPal (they give discounts based on prior month $ volume). So this would be 2.1% "return". I agree strongly that you should be *very* careful if you try this PayPal rinse and repeat - no telling what could happen |
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elleve
- Senior Member
posted: Aug. 3, 2007 @ 3:45p
MegaKimcheeLove said:igorthesmall said:what are the fees to paypal money to yourself?
Approximately 2.9% if you don't have any type of regular payments going through PayPal (they give discounts based on prior month $ volume). So this would be 2.1% "return".
I agree strongly that you should be *very* careful if you try this PayPal rinse and repeat - no telling what could happen
I do this all the time already, it's no big deal. they take about 2.9% , but wats up with the 4 transactions a month?. never heard dat one before.
if u really are limited to 4 transactions, can add obopay into it, they take 1.5% but i think they limit you to a certain $ amount a month. |
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MegaKimcheeLove
- Happy Member
posted: Aug. 3, 2007 @ 3:48p
scott1961 said:MegaKimcheeLove said:
So, only 4 PayPal payments a month for you!
What's Paypal? And I am not worried about getting a large CL PayPal is an internet payment service, most often associated with eBay (since eBay owns them), for paying via credit card So the thought is: 1) Open PayPal account to receive money
2) Pay yourself through PayPal via credit card - PayPal charges you 2.9%
3) Withdraw $ from PayPal to your HYS account
4) Use $ from HYS account to pay credit card balance Problem is, Citibank may review/freeze your account for large purchases with no history. And even if they don't, unless you already have an established PayPal account, PayPal is even more likely to either A) freeze your account or B) limit the amount you can withdraw per month. Again, think very carefully before trying this at home, kids |
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MegaKimcheeLove
- Happy Member
posted: Aug. 3, 2007 @ 3:50p
elleve said:
I do this all the time already, it's no big deal. they take about 2.9% , but wats up with the 4 transactions a month?. never heard dat one before.
if u really are limited to 4 transactions, can add obopay into it, they take 1.5% but i think they limit you to a certain $ amount a month. Sorry - should be clearer. You can make as many transactions as you want in a month, but the T&C states that you can only make 4 PAYMENTS to your credit card balance in a billing cycle. So if your CL is $5,000, you can't keep charging and paying it off unlimited times in a month. You can only post 4 payments against your balance in a month |
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RS4Rings
- Senior Member - 7K
posted: Aug. 3, 2007 @ 3:52p
MegaKimcheeLove said:
PayPal is an internet payment service, most often associated with eBay (since eBay owns them), for paying via credit card
I was being sarcastic, Of course I knew what they are but I wouldn't touch that scam ridden site with a 10 foot. I plan on getting my 5% back by actually purchasing things. Hope I get quick because I have a $12k college bill due the 15th |
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dlr3
- Senior Member
posted: Aug. 3, 2007 @ 4:02p
scott1961 said:scott1961 said:
I just applied for the no cap, Anyone know who they pull from, Please don't be Experian
Just checked and of course the pull was from Experian, Why the heck can't I get any pulls from EQ or TU?You could always use the address of your summer home |
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MaddHatter
- Senior Member
posted: Aug. 3, 2007 @ 4:13p
scott1961 said:MegaKimcheeLove said:
PayPal is an internet payment service, most often associated with eBay (since eBay owns them), for paying via credit card
I was being sarcastic, Of course I knew what they are but I wouldn't touch that scam ridden site with a 10 foot. I plan on getting my 5% back by actually purchasing things.
Word
Hmm, may have to up the Citi personal card apps to 3 for my AOR. |
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SUCKISSTAPLES
- Charter Member
posted: Aug. 3, 2007 @ 4:27p
DO NOT , I REPEAT DO NOT FUNNEL MONEY THROUGH PAYPAL UNLESS YOU WANT FUNDS FROZEN. The last thing this forum needs is more "I did something stupid HELP NEEDED" posts |
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crovax4444
- Addicted Member
posted: Aug. 3, 2007 @ 4:38p
This is a pretty nice card Crovax |
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LustfortheMoment
- Senior Member - 1K
posted: Aug. 3, 2007 @ 4:42p
Is the 5% really worth it for 3 months??? Not for me. I already get 5% on groceries,drugstores and fuel with my AMEX Blue Cash and 1.5% on everything else. The extra 3.5% on non-EDP which I'd get for 3 months on this Citi card wouldn't even pay my phone bill ..... |
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igorthesmall
- Member
posted: Aug. 3, 2007 @ 4:50p
I had a notice from advanta when i signed up for my business card that I could set up my business to take credit cards for 1.64% + .25 per transaction |
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sirbeamer
- Happy Member
posted: Aug. 3, 2007 @ 4:58p
I saw this as well...I like where you're going here... |
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dragoon976
- Member
posted: Aug. 3, 2007 @ 5:03p
igorthesmall said:I had a notice from advanta when i signed up for my business card that I could set up my business to take credit cards for 1.64% + .25 per transaction
*see no evil, hear no evil, speak no evil* |
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greecemonky
- New Member
posted: Aug. 3, 2007 @ 5:04p
I think it's safe to assume this card will come with a relatively low CL. |
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aznbenz
- Member
posted: Aug. 3, 2007 @ 5:05p
I will go ahead and add this to my list of applications to be done. Perfect for my $20k tuition and will go ahead and open a Citi checking to take advantage of this 5%.
Thanks OP. |
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dragoon976
- Member
posted: Aug. 3, 2007 @ 5:53p
greecemonky said:I think it's safe to assume this card will come with a relatively low CL. If you read T&C, if you get accepted, the LOWEST CL you can possible get is $8000. Edit: WHOOPS, got this mixed up with the Citi AMEX Plat. card. Sorry, about that. |
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redsox9547
- Senior Member
posted: Aug. 3, 2007 @ 8:47p
igorthesmall said:what are the fees to paypal money to yourself? About 2.9% |
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