100 Bucks Back With New CitiAMEX Card

If you’re looking for a new credit card, take a peek at the new Citi AMEX Diamond Preferred Rewards Card.

$100 restaurant gift card for signup, 10,000 Thank You points after the first purchase, 0% balance transfer until 12/07, 5% rewards back on supermarkets, gas stations, and the like, and 15.24% APR.

Terms and conditions here

Apply by going here and entering F1M3.

What do you think? Seems like a decent deal to our tiny brains. — BEN POPKEN

$100 from Citi AMEX Diamond Preferred Rewards Card [Blueprint for Financial Prosperity]

Comments

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  1. Charles Star says:

    It is only a good deal if you don’t revolve a balance (or plan on flipping the balance before 12/07). 15% is insane for someone with decent credit.

  2. humphrmi says:

    “you may like the new Citi AMEX Diamond Preferred Rewards Card you may enjoy”???

    That sentence you should rewrite that sentence that you should rewrite.

  3. Nancy Sin says:

    Boo on the high APR. And is that 10.00, 1000, or 10,000 Thank You Points?

  4. TedSez says:

    Is the “$100 restaurant gift card” supplied by Restaurant.com? If so, since they frequently run 50- or 60-percent-off discount codes to buy dining certificates from their own website, this promotion would really only be worth $40.

  5. Myron says:

    I got the Amex Blue Cash card a few months ago. Seems like a pretty good deal. You get money back, not Thank You Points, whatever the fuck those are.

  6. goaway147 says:

    I pay 7.99% on my Amex Blue.

  7. InsaneNewman says:

    Err, you don’t get a $100 gift card AND 10,000 Thank You Points; you get 10,000 Thank You Points after you make your first purchase which the THEN be REDEEMED for a $100 gift card (among other things).

  8. thrillhouse says:

    Ohhhhh! and its SHINY too!!!

    “tiny brains” is right, because thats what they are counting on.

    My card has 0.00% apr, with no anual fee, no games, no snake bites – its called a debit card.

    15.24%. That is disgusting. But I know, I know – you always pay yours off ever single month. You’re never on vacation and forget. There’s never a snafu in the on-line transfer. They never decide to sit on your check for 12 days. You never spend more than you make. Never. Ever. Tell me a new one.

  9. snazz says:

    how much did amex pay you guys to post this ad for them?

  10. GenXCub says:

    Rachel, you can see the link to a different site. When a potential deal is seen on the net, it gets reported. Regardless of how good a deal this is, it’s far from making consumerist.com a shill… if you don’t like it… buh… bye.

  11. zentec says:

    Finally dug through all the linking to get the real story from the Citibank site.

    You get 10,000 bonus points after your first purchase with the card. You then go to the web site (probably the same one for all of Citibank’s reward cards), redeem the points and your gift card shows up.

    Citibank used to have great promotions on their services that involved cash. Open a checking account and bank online was a $500 proposition just a couple years ago. Now it seems reward programs are moving from cash to these “Thank You” networks where I’m betting not only your points are pointed toward selected merchants, but your spending habits as well.

    Nevertheless, $100 is $100, and this is a no annual fee card. Unfortunately, Amex lost me as a customer forever over a charge dispute gone ugly and this is a clear case where they won’t be able to give me money to be a customer.

  12. zentec says:

    My wife thought this was such a good deal when I told her about it, she went and tried to apply even despite my protests over AMEX.

    Not any more, “portions of our web site are down”. I’m sure Citibank’s marketing department put the halt to this promotion after the internet trashed their targeted marketing efforts.

  13. boy says:

    I’ve never trusted citibank since they sent me a credit card without my consent. I got a pre-approved offer in the mail, called the number, and when they told me there was a $150 a year fee I said “no thanks” and hung up. 2 weeks later, I got my brand new citibank card in the mail. I never even authorized a credit check. Needless to say I canceled it, got the fees waived and got the credit check removed from my credit report.

    I know it was just some 3rd world outsourced call center asshole trying to fill his quota, but I’ll never do business with citibank again.

  14. Morgan says:

    “But I know, I know – you always pay yours off ever single month. You’re never on vacation and forget. There’s never a snafu in the on-line transfer. They never decide to sit on your check for 12 days. You never spend more than you make. Never. Ever. Tell me a new one.”

    Erm… yeah, actually. Except for the check one; I do tend to sit on checks for a while, but since my pay check is direct depostited these days that never comes up. I don’t even know what the APR on my card is, because I’ve never failed to pay it off in full in the six years I’ve had it. Do you really think that this is that hard to do?

  15. Mr. Gunn says:

    If you’re in the market for a new card, this is definitely one of the best out there, unless you do plan on carrying a balance, in which case I suggest you have a sit down with your finances and see if you can’t get a loan from your bank at a lower rate.

  16. thrillhouse says:

    its not that its hard to do, Morgan – just easy to forget.

    What I’m not sure about is how you think these companies are not out to screw you. And six years is nothing, call me after you’ve hit 20 and tell me that they haven’t found a way to burn you.

    Besides, if you really pay it off every month, then you don’t need it, now do you? Here’s a novel concept: try paying for it with your money. Cash, or even a debit card.

  17. Morgan says:

    Credit cards are a lot more convinient than cash. I buy most luxuries online. I pay utility bills online. I don’t carry around a checkbook because using a card at grocery stores and the like is much easier (and much less bulky). I don’t see why I’d give up all that convinience when it costs me nothing to use it. I have my credit card company send me an e-mail every month a week before payment is due, so forgetting isn’t all that easy, and paying it off online takes all of two minutes. Doing this monthly lets me have one place I can look and see what I spent that month so I can decide if I ought to be more careful with my spending next month or not, plus the website gives me a spending report so I can see how much I spent on various categories of things, none of which is automatically done for me if I buy using cash, checks, or debit.
    I’m not debating that they’re out to make money and that they don’t mind doing it by screwing people over. I’m just saying that the disdain you show for the idea that you can avoid being screwed over by them is unwarrented; so long as you aren’t living beyond your means it’s fairly easy to avoid, and the tools provided by online banking makes it easy to see where you’d need to adjust to avoid living outside of your means. If you plan on keeping a balance on your card, this deal isn’t for you, but don’t act like no one would benefit from having it.
    One last thing- when I pay with the card I am paying with my money. I have the card through a bank I also have a checking and savings account with. Since I never spend more on the card than I have in those accounts (yes, never, believe it or not), I’m never borrowing more from the bank than they’re already borrowing from me.

  18. thrillhouse says:

    Well, we certainly struck a chord here! lets review.

    “Credit cards are a lot more convinient than cash. I buy most luxuries online. I pay utility bills online. I don’t carry around a checkbook because using a card at grocery stores and the like is much easier (and much less bulky). I don’t see why I’d give up all that convinience when it costs me nothing to use it.”

    Hmmm…. kinda like a debit card.

    “Doing this monthly lets me have one place I can look and see what I spent that month so I can decide if I ought to be more careful with my spending next month or not, plus the website gives me a spending report so I can see how much I spent on various categories of things, none of which is automatically done for me if I buy using cash, checks, or debit. I’m not debating that they’re out to make money and that they don’t mind doing it by screwing people over. I’m just saying that the disdain you show for the idea that you can avoid being screwed over by them is unwarrented; so long as you aren’t living beyond your means it’s fairly easy to avoid, and the tools provided by online banking makes it easy to see where you’d need to adjust to avoid living outside of your means.”

    No, no, you’re totally in control. Knowing what you spent after-the-fact is real helpful. Pick up the sarcasm there. What you’re searching for here is called a budget – its done before you spend the money. Then there’s no question. How wondering where your money went after its spent will aid you in not living beyond your means is an absolute mystery.

    “unwarrented”? You really have no idea who these companies are or how they treat people. The fact is, you’ve taken on an increadible amount of risk for absolutely no reason. Its just not needed. Its risk that people remove from the equation to justify this crap. You’re not benefiting from these guys, you’re not getting rich off of their rewards, you’re just playing their little game and for no reason.

  19. Morgan says:

    Well, yes, I am in control, in that I’ve never been in debt and I spend less than I make each month. Sorry if you think having a place to look and see what you spent in the last month isn’t a useful way to figure out your budget for the next month; if I’m putting less than usual into my savings account one month I avoid buying as many luxuries the next month. Debit cards, as far as I know, don’t give you the biggest weapon a consumer can have in a dispute- the chargeback (let me know if I’m wrong here).
    My point from the start, however, has been that there are people that don’t pay interest on credit cards because, yes, we pay it off every month, we never forget, we’ve never had a snafu with the online transfer, and said transfer means that them sitting on a check isn’t an issue. All it takes is the ability to restrain your spending and an e-mail account that you check regularly. In that I have both of these, I don’t see the “incredible amount of risk” that I’ve taken on. I’m guessing from your bitter tone over the issue that you’ve been burned by credit cards before; that doesn’t mean that everyone with a card is going to make the same mistakes you did.

  20. thrillhouse says:

    Wrong, wrong, and wrong again.

    My wife and I have never spent more than 5 minutes on the phone with our bank disputing fraudulant charges. And they are gone instantly.

    And my point is that you’re assuming the best-case scenario, every single month. Statistics are against you, why do you think they offer these deals? There are hundreds of billions of dollars owed on credit cards. Most people don’t pay them off, or lose their job, or become disabled, or lose a spouse and find themselves deep in the hole.

    And no, I’ve never had a credit card, and I never will. My wife had one in college that she always paid in full every month, and never carried a balance, and was never late making a payment. But once we educated ourselves about credit cards, and debt in general, we drew the line in the sand and said, “Never again!” You can go on making guesses and assumptions about how this stuff works or you can actually learn the truth. And thats hard to get around. Listen to the Dave Ramsey show (live and free on line at daveramsey.com), especially on Fridays when people call in to screem that they are debt-free or to chop up their credit cards live on the air. Maybe you’ll start to get it.

  21. methane says:

    I see the argument, and I like it. thrillhouse argues that because some people spend themselves into debt, responsible people shouldn’t use credit cards. Despite the fact that there are federal laws to protect you from credit card fraud and none for debit cards. Despite the fact that I, just today, deposited a $170 check from my credit-card company which I got as a cashback reward. thrillhouse, I might have bought the same exact things on a debit card but gotten nothing back.
    I’ve never had a debit card, but aren’t they issued by the same evil banks that issue the credit cards?

  22. thrillhouse says:

    Methane – People shouldn’t use credit cards because they are a bad product. I don’t do debt because its stupid. I harbor no delusions about banks or credit cards. And I prefer to spend cash when I can.

    And that $170 is peanuts compared to what you are overspending over that same period of time. Yeah, heres a news flash: they are a means to encourage overspending. I’ll bet they don’t break that column out in your end-of-the-month summery. Call me when your rich because of ‘cash-back-bonuses’.