Saturday, March 04, 2006

Received My Citi Professional Card

Since Discovercard ceased its restaurant rebate program, I have been searching for an alternative card for restaurant spending. So when I saw the benefits of the Citi Professional card, I decided to take this offer. This card offers 10000 thank you point after the first purchase, which can be redeemed as $100 gift card from one of the popular stores. And 3 points will be accumulated to your thank you network account for every one dollar purchase on restaurant, gas station, auto rentals and some office supply stores. It's just like a 3% cash back. If you are traveling a lot, this card would be a good choice for you. Just as other citi cards do, it offers a nine-month 0% apr balance transfer.

In order to keep a good credit for one of my financial objectives (buying a house), it's been a long time that I have not applied for any credit cards. But I didn't resist the temptation this time, as I understand that one hard inquiry won't hurt my credit score too much. But if I make the balance transfer, it will take a while to bring my score back. Hence I decide to use this card while not to take advantage of the balance transfer offer.

The good thing is I won't waste the 0% APR offer. I got 9 months' buffer period. I can do the transfer anytime within nine months of opening. And the 0% apr will be valid for 9 month from my actual request date. I could save it up for some small projects of my future home.

7 Comments:

At 1:24 PM, Anonymous wesleman said...

I got the same card recently too! I don't dine out much now but those 3% sure would be handy on my frequent breakfast trips to Mac D! I made a purchase at OfficeMax last weekend and hopefully it will be considered "some office supply stores". I have a Chase Freedom card for gas purchases, so I'll skip gas on this card. Now, I'm just wondering if I would get the 3% back on auto rentals only when I rent from car rental companies directly (i.e., not thru Priceline, Hotwire, Expedia, etc).

 
At 10:48 PM, Blogger circle said...

How long did it take you to get the 10000 points? And what's the offer of chase freedom for gas purchase? I am using chase cash plus and citi divident for grocery and gas purchases.

 
At 4:02 AM, Anonymous wesleman said...

I haven't received my first statement yet but I should in a few days, so I'll report back soon. As far as I know, Chase no longer promoted their Freedom Card as my new card actually looks exactly like their other reward cards now but they still call it the Freedom Card in the statements. Prior to calling it the Freedom Card (I was a "charter member" supposedly..), it used to be called the Chase Shell Mastercard. A few years back, Shell ended its partnership with Chase and instead went with Citibank. I suppose Chase didn't want to lose its Shell Mastercard customers to Citibank, so they came out with the Freedom Card, which kept the 5% gas rebate and made it sweeter that it would apply on any gas purchases (it used to be Shell only). Anyhow, back to the future now!! I think the closest thing to it now is the Chase Perfect Card but the gas purchase rebate is only 3% now (and 1% on everything else). Before you lose interest on it though, you should know that the cool thing about this card is you get the rebate automatically as a statement credit in the following month. No waiting, no redeeming and no nothing whatsoever!

 
At 11:11 AM, Blogger circle said...

That's nice for instant credit. I can only redeem cash when the accumulated points reach 5000 using the chase cash plus card. And for the extra points, I need to wait until it reaches another 5000. That's why I like citi divident better. At least I can get all the bonus back when I stop using it.

 
At 12:31 PM, Anonymous wesleman said...

Sorry it took me a while to report back (it's been a crazy week in the office!!) Anyway, the 10,000 bonus points showed up in my account right after the first statement of my Citi Professional card closed! :) Hey, talking about the Citi Dividend card, what did you mean by "I can get all the bonus back when I stop using it"? I thought you can't order a check until you reach an increment of $50.

 
At 2:01 PM, Blogger circle said...

Thank you for letting me know. As for the dividend card, we can only order the check until the dividend reaches $50. What I mean is if I have $60 accumulated, I can order a check for $60. For chase cash plus, I can only order $50 and leave $10 there until I earn another $40.

 
At 6:22 PM, Anonymous wesleman said...

Oh I got it now. On a related note, I have a dormant AT&T card (a Citi card in reality but branded under AT&T) and I'm thinking about switching that to either a "Cash Rewards Card" (similar to the Citi Dividend card) or a "Rewards Card" (with ThankYou points). Since I also have the Chase Cash Plus card, I'm leaning toward the latter because I can combine the points earned with other Citi cards I have. The drawback is I can only get gift cards (mainly Target because I shop there often) as redeeming points for cash doesn't make sense (17000 points for $100). But you raised a good point! Well, I need to give it more thoughts then..

 

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