I recently dropped in to my neighborhood Citizen’s Bank to deposit a bunch of cash I had acquired from paying for group dinners with a points-earning credit card and collecting everyone’s cash. (My friends have gotten use to my “crazy” manufacturing spend techniques and don’t question it anymore). I was watching the slideshow they had on their branches monitor, and noticed in caps “10% back on gas”. What??? I inquired at the desk, and they’ve recently changed the terms on their Cash Back Platinum Mastercard.
You get 10% cash back on the first $1k of gas purchases, and an unlimited 5% after that, for the first 90 days. You also get 5% back on grocery and drug store purchases, but again only for the first 90 days. There is no annual fee. After 90 days, everything reverts to 1%. I hate that these rewards only last 90 days, but there doesn’t seem to be anything in the T&C to limit your amount, just your credit limit. I suppose if they gave you a huge limit, you could really kill it. For instance, if you had a 7-11 nearby (coded as gas stations) that let you buy gift cards with a credit card, and put $50k in 90 days, you’d make $2550 (minus whatever you paid in GC fees). I doubt many people could pull this off though, so I’m not sure how scalable this is, especially only for 90 days. This card is only available in certain states too. I’m not going to be jumping on this one, especially since I just got denied for two cards (even after recon calls) because of way too many CC applications this year.