Chase Freedom: Free Money

So seeing that I need to build my credit history I decided to sign up for another credit card to add to my Citi Professional Card. I was waiting for a card to give me a signup reward and a worthwhile cash back program. Enter Chase Freedom.

While reading slickdeals.net @ work, I came across the post for a $250 signup reward when applying for the card. I was hesitant at first seeing that you only saw the signup on the landing page occasionally and on the application form there was no mention of the bonus. Regardless, some posters had detailed their success in getting the reward so I took the plunge.

Weeks passed and I was worried whether or not I'd actually get the card. I gave my email address and everything, but I'd had no word from Chase for a good two weeks or so. Eventally the card came but no mention of the rewards. I quickly signed up for the online account and scoured the pages for the reward. Nada.

So I thought I'd been screwed, but low and behold when checking my account balance one day the rewards showed up in my account. Clicked on "redeem" and received my $250 check in the mail about a week later.

So what's the good and the bad with the card?

Good:

• Accumulating $200 in rewards is good for a $250 check (Otherwise you can cash out $50 in rewards for $50). Effectively that's a 1.25% cash back instead of 1.00% if you can wait to accumulate $200.
• 3% on Gas, Grocery and Quick Service Restaurants. I rarely buy gas or groceries, so that really doesn't matter for me. I do go to places for lunch, but I've yet to see getting 3% back at the delis and sandwich shops I go to... I wonder if its only for fast food which I've been trying no to eat...
• Online account is easy to use. No hassles

Bad:

• Ridiculous APR. I pay my balances in full every month, but if you miss a payment on this baby you're screwed. So definitely sign up for the email reminders when your bill is due.
• No 3% back on regular restaurants.

All in all, I think I'll use the Freedom card over the Professional for everyday purchases and the like and reserve the Professional for restaurants. In the meantime I'll be on the lookout for possibly another card with a different type of reward.

One Love,
Look

Citi Professional Card: Back in Business... (an update)

Back in the building, back on the map. My credit card rewards were corrected in fact.

So earlier I wrote about a troubles with my Citi Professional Card, as I had been shorted the 1% back on everything and the 3% back on restaurants. Recently I got my statement where my rewards were correctly adjusted and my new purchases correctly reflected my purchases.

Now although the rewards information was correct, the thing that worried me more was the balance of my bill. Ever since I got the card, it seems that my balances have slowly been climbing. Although there was a big jump this month, it was due to some Christmas shopping and a fancy dinner at Cafe Grey. That being said, I'm glad to have gotten 3% back on my near $300 bill from the feast at Cafe Grey. Who knew rabbit, fish, and all that stuff I never really eat could cost so much? Anywho, I think my balances will continue gradually rising as my girlfriend from Tampa has come back to NYC. She's definitely a food monster and I will continue to be greatful for the 3% back on restaurants.

In other news, I cannot express enough how much I enjoy this holiday season. Family, friends, food and just good times. Now if only work didn't get in the way...

One Love,
Look

Citi Professional Card as Rewarding as it Claims?

To take advantage of the offers being handed out by credit card companies, I decided to sign myself up for the Citibank Professional Card (To find out more go to Citibank's site here: http://citicards.com/). The card rewards include 3% Cash Back on purchases made at restaurants, gas stations and some office supply stores and 1% Cash Back on all other purchases. Seeing that I've been spending TONS of money at the fine restaurants NYC has to offer, the feature that sold me on the card was the 3% Cash Back on restaurants. Add up all those lunch meals and dinner gatherings, the cash could definitely pile up in a hurry.

At first, the card was great and the rewards were given as advertised. I've had the card for about 3 months now and my experience with it is beginning to sour. I noticed last month that my rewards were lower than 1% of the balance on my card for the month. This was especially troubling seeing that over $300 was spent on restaurants. So not only was I not receiving the 1% Cash Back, I wasn't getting the 3% Cash Back on restaurants. I figured there must have been some mistake that was easily fixible so I emailed the support.

Their Response:

Customer Service Wrote:

To better assist you regarding rewards, we need to speak with you directly. Please contact us at 1-800-950-5114. We are available 24 hours a day, 7 days a week. Outside the U.S., call collect at 605-335-2222.

Thank you for using our website.

Well I thought that was annoying, but I went ahead and called the number. After being on hold for a good 7 minutes, I was finally connected with a rep. I thought it was a bit strange that I had to tell the rep my password to my account, but wanting to fix the problem I went ahead and disclosed that information. I told her about the problem and she assured me she would get it fixed. Pleased, I hung up and thought it would all be fixed.

Weeks later I checked my account again and the problem was still not fixed. Apparently the rep hadn't come through for me. I called the number again to complain and try to get the situation fixed. The new rep, while more helpful that the previous one, didn't seem to have a handle on how the whole rewards process worked. I went through the calculations with him, having to repeat slowly what I was calculating until he finally got it. He then said that the rewards were showing up correctly on his system, but I told him they were incorrect on the online statement. He proved to be little help as he said "I'm sorry I can only tell you what's on my screen and I don't know why the online statement shows something different." So I thanked him for his time and hung up. Currently, my rewards are still incorrect and its beginning to seriously annoy me. So I'll wait another week or two before I call them back and release an angry tirade on them.

That said, I think its time to start looking for another credit card. Any suggestions?

One Love,
Look