Question
Has anyone reached the $300 annual dividend limit? If so, could you tell us if it's being "enforced"?
Thanks!
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yes. and yes. atleast it did for me in 2004. It is the major drawback to using the card. I get 2% dividend on all purchase but have to stop using the card at some point in the year due to the limits.
Ken in Phx
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What card has a $300 annual limit?
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Dividend card. (or Dividend Platinum Select)
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Is the $300 limit applicable to dividend dollars earned or dividend dollars redeemed? That is, if one enters the year with a dividend dollar balance of $50, can I only earn $250? Or can I earn the full $300, but only redeem $300 rather than being able to redeem $350?
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Mile,
Its actual checks received. I get a check eachh time I pass $100.
So you might get 110, 100 and the last check is 90. for a total payout of $300.
Ken in Phx
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Is the $300 limit applicable to dividend dollars earned or dividend dollars redeemed? That is, if one enters the year with a dividend dollar balance of $50, can I only earn $250? Or can I earn the full $300, but only redeem $300 rather than being able to redeem $350?
I have one of these cards, and an ATT Universal with similar terms/same bank. In both cases the $300 limit re-set after my last closing date in 2004. I immediately started earning toward my $300 limit for 2005. It didn't have anything to do with the actual checks received - in fact, during 2004 I received almost $500 in "dividends" for one of the cards. $300 for 2004, and another check for >$180 in late December for spending since my early Dec. closing date.
It sounds like Ken's card has different terms. I have to request a check every time I want one - if my balance is at least $50.
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Citi has changed the redemption of dividend check to a minimum of $50 and you have to request it, it will not be automatically sent. Previously once the dividend reaches 100, a check will be sent on the statement date when the dividend surpasses 100, for the entire dividend balance.
Now you can request it online. It says 7 to 10 biz days to receive your check. Or you can call the dividend phone line to request a check to be sent.
I requested online the same day of my statement date, but before midnight. So I dont know how it would show up on my statement. Online it still shows how much dividend is available under the summary section, but in the section of unbilled activity there is a negative balance matched the available dividend. When I called the redemption line, the menu told me I have zero balance available.
So in 2 weeks I will know whether I need to follow up on this check.
One way to double the $300 limit is to have separate individual card each for husband and wife - and each can still give the spouse the auxi card. In fact this was suggested to me by citi customer rep.
Oh, I think mine is Dividend Platinum Select, which earns 5% on purchases made at grocery stores, gasoline stations and drug stores, 1% on all other purchases. I dont see Citi offers a card pays 2% on everything ?
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I dont see Citi offers a card pays 2% on everything ?
When you get a rebate check for some customers, Citibank adds 1% to all rebates.. so you get 6% on gas, groceries and pharmacy purchases and 2% on everything else. Quite a deal.
S
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When you get a rebate check for some customers, Citibank adds 1% to all rebates.. so you get 6% on gas, groceries and pharmacy purchases and 2% on everything else. Quite a deal.
S
would you explain in details how that works ? thanks.
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would you explain in details how that works ? thanks.
Just request your check online. They are likely to offer an additional 1% for 90 days, making it 2% on all purchases and 6% on supermarket/gas/pharmasy
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Just request your check online. They are likely to offer an additional 1% for 90 days, making it 2% on all purchases and 6% on supermarket/gas/pharmasy
You completely lost me here - request what check online ? the dividend rebate check ? or you mean other types of rebate check ?
I requested my dividend rebate check online about 10 days ago, and yet to receive the check. Meanwhile I saw my dividend activity page online is TOTALLY SCREWED UP. In the summary part of the page, it correctly shows how much has been redeemed (check sent automatically by them in the past before they went on this $50 and you must request thingie), how much is available. Yet, in the unbilled activity part of the page, it shows a NEGATIVE BALANCE of the Total Dividend Dollar earned this period.
When I called Citi redemption line yesterday the lady could not even pull up my account from either phone, name, zip code ... she ended up transfer me to customer service agent who confirmed I have the dividend available but cannot tell whether it is redeemed or not. I called tonight and the line was cut after some 10 minutes on hold and transferred lines (you can tell by the music then click a few times). Will try to call them tomorrow so I wont get an Indian location !
UPDATE : Received dividend check in mail today. Check was dated 1/13, requested on 1/10 online. Online info unchanged. I guess it wont change until next statement date. Also notice of the extra 1% rebate in next 90 days effective from the date the check was requested.
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Just request your check online. They are likely to offer an additional 1% for 90 days, making it 2% on all purchases and 6% on supermarket/gas/pharmasy
Nice. I just requested a $58 check online and the acknowledgement screen gave me this message:
Limited Time Offer — Earn More Cash Back
Earn 2% cash back for 90 days and still earn 5% on supermarket, gas station and drug store purchases.
Nothing extra for the gas and supermarket, but still nice.
My CapOne card gives me 2% automatically, posted to the account on my anniversary date with no limits, so I don't know if this will shift my card use, but still nice to see.
tom
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Just to add my own experience here:
I have the Citi Dividend Platinum Select. I requested my second ever check online a couple weeks ago. The check arrived promptly enough last Friday (check date 1/14/05, arrived 1/21/05).
The letter stub attached to the check says "As a special bonus you will earn an additional 1% cash back, that's a total of 6% at supermarkets, drugstores and gas stations and 2% on all other purchases, for the next 90 days from the date you request your check." So at least in my case it bumps up everything.
The info on the stub also confirms the $300 annual limit: "Earn up to $300 Dividend Dollars in a calendar year (eligible transactions appearing on your January to December billing statements)." So this seems to have nothing to do with how much is paid out to you by check each year. What matters is what you earn on January-December statements. That should extend my 2005 earning a bit because a lot of my recent earning was on my December 2004 statement, although I still suspect I'll hit the limit before the end of the year, which means I'll have to find something else to use after that.
For transactions until the $300 limit is reached, I think this card gives quite probably the best payback out there. And assuming the bonus after requesting a check is ongoing, most earnings should be at the higher amounts, with a minimum of 2% back. Pretty darned good! And depending upon your billing cycle, you should be able to begin earning again with some mid- to late-December purchases which will post to your January statement.
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... Meanwhile I saw my dividend activity page online is TOTALLY SCREWED UP. In the summary part of the page, it correctly shows how much has been redeemed (check sent automatically by them in the past before they went on this $50 and you must request thingie), how much is available. Yet, in the unbilled activity part of the page, it shows a NEGATIVE BALANCE of the Total Dividend Dollar earned this period.
Yes, there is a bizarre disconnect between the on-line summary and printed summary. One would think that the on-line data would be the last statement data, plus current activity - but I have seen strange things like you've described. Luckily (touch wood) it seems to work out by the time the next statement arrives.
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Do supermarket gift cards purchase counts as "qualified" purchase and earn the $$?
Nice. I just requested a $58 check online and the acknowledgement screen gave me this message:
Limited Time Offer — Earn More Cash Back
Earn 2% cash back for 90 days and still earn 5% on supermarket, gas station and drug store purchases.
Nothing extra for the gas and supermarket, but still nice.
My CapOne card gives me 2% automatically, posted to the account on my anniversary date with no limits, so I don't know if this will shift my card use, but still nice to see.
tom
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It depends whether the supermarket add the giftcard purchase to the whole grocery bill or requires a separate transaction.
if there is no separate transaction involved, i would venture to say it qualifies as 5% as the whole lumpsum goes to Citi without any distinction. I always purchase stamps at checkout - here at Publix in Florida, they dont require a separate transaction. But in the past when I did the same in Texas, Albertson needed to do a separate transaction.
you can try it for a small amount first and then you will know for sure.
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I received a letter from Citi dated Jan 13, informing me Citi will give 1% extra dividend on everything in the next 90 days from the date I requested my dividend check, which was Jan 10.
I did not see any extra dividend showed up on Feb 10 statement. When I still dont see any extra dividend shows up on March billing cycle (online) I become alarmed as Citi has goofed up incentive dividend in the past. So I called customer service - after lengthy research, the CS told me her computer shows the offer expired on Feb 26. Now, that is not 90 days from January 10. I pointed out the error and she agreed. However, she cannot do anything about it, but forward a request to the reward redemption department to investigate the expiry date ... and I will receive a letter from them in 7 to 10 business days ...
Let's see how this would work out. Because of the additional dividend, I have charged several big purchases on the dividend card instead of the mileage card. So the additional dividend at stake is a good chunk of the annual limit ... worth fighting for.
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I just requested my check and I didn't get the extra % message :(
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The message came with your check. It was the top form of your check.
BTW, to follow up my previous post, I received a letter from Citi to confirm the incentive started from Jan 13 (the date the check was cut) for 90 days. I also saw the bonus dividends appeared on my March statement.
But that only happened AFTER I saw no bonus and called them to protest. I almost feel Citi deliberately pratice such "errors" - when they first pushed this dividend card to me (a hard sell on the phone when I called to enquire something on my AAdvantage card), they promosed 5% on EVERYTHING for like 3 months ... I signed up. And of course the bonus did not materialize. Took 3 phone calls and finally got hold of the original rep who made such offer. At first she flatly denied having made such offer. After I told her I plan to report this practice to the Consumer Affair Dept of local DA office, she put me on hold for a moment, and came back to say she now remember and found the note buried down in my file ... and yes, I would get the bonus ...
Bottom line, one has to be diligent with Citi on its promo. You will get what you are entitled but not without hazzle.
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no extra 1% now :(
I got it when i request the check in Jan and it was supposed to work in the following 90 days. But when i requested another check in early Mar, it told me 5%/1%(no extra 1%). :( .I am wondering if I am still earning 6%/1% according to the Jan pro I got, but we will see :rolleyes:
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Based on the info on my statements and the info on the site I find it difficult if not downright impossible to keep track of how much I've earned this year or whether they are properly crediting the bonus amounts. I haven't even tried to do this as it looks like I'll never come up with the right math....
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When I requested a check back in Dec '04, I got the check in Jan and got the extra 1%. Just got a check yesterday, but no extra 1%.
Since I'm running up against the $300 limit, I'm going to transition to my AT&T Universal Cash Rewards Card which has a nearly identical program.
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Based on the info on my statements and the info on the site I find it difficult if not downright impossible to keep track of how much I've earned this year or whether they are properly crediting the bonus amounts. I haven't even tried to do this as it looks like I'll never come up with the right math....
I enter the charges on an excel spreadsheet by category ... since I have to manually post such to Microsoft Money anyway, as the download does not work ... so it is pretty easy for me just to add the % at the bottom of each column summation, and let excel to calculate. Basically any difference is within 0.50 each month, on the regular dividend schedule, usually it is caused by some purchases at small grocers that the merchants do not classify the purchases being "groceries".
The extra 1% is relatively easy - it is 1% on your statement total - so you know how much bonus you should get, for 90 days from the date they told you the bonus started.
The website info is hopelessly unreconcilable, but the figure shown on the statement is correct, most of the time.
As for the annual limit - the clock starts from the first statement in January and ends with the last statement in December. You need to keep track of that yourself manually I guess.
Right now I am 3/4 up to the limit. So soon the spending will go on spouse's dividend card/ and AAdvantage card (for those charges only earn 1%).
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I reached my limit last month...so the card in now in the drawer.
I wonder what Citi's logic is with this limit....wouldn't it cost them less to have fewer customers with a high spend than to gain more customers with a low spend.
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I think they impose the limit because of the high 5% back with groceries/gas/drugstore purchases. Spend only $6000/yr in these categories and you've already reached your limit. I don't care much for the 1% cash back since other cards offer much more bang than just $0.01 per dollar spent.
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I have had my card since Sept '04 and received about $700 so far in Cashback. I thought there was a limit too but it hasn't been enforced so far. I guess they want to keep me happy since they are making a lot more than the 1% they give back.
If they do enforce it, I'll cancel and get a new card until I max that one out.
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How much in awards did you accrue as of your statement date in December 2004 ?