about Discovercard - Platinum Gas Card on deal page

[pd123]

I went to sign up for this, the rep. talked me out of it. He said based on my buying habits, it's not good for me because 5% diminishes down to 1/4% as you spend more. I think he said after spending $3,000 that 5% starts dropping. Their site doesn't tell those details. Anyone know about the sliding reward rate? They are sending me the details, I will post the details when I get them. So far I am happy with the Citibank 5% Dividend card that I learned about from the Gotapex site a few months ago.

[Apex]

It really does depend on your buying habits. Hmm, we should build some sort of FAQ for credit cards.

[HmpDeeHmp]

I hope that's not the case... I just signed up for a card the other day.
BTW, a CC FAQ would be pretty helpful.

[Markel]

I went to sign up for this, the rep. talked me out of it. He said based on my buying habits, it's not good for me because 5% diminishes down to 1/4% as you spend more. I think he said after spending $3,000 that 5% starts dropping. Their site doesn't tell those details. Anyone know about the sliding reward rate? They are sending me the details, I will post the details when I get them. So far I am happy with the Citibank 5% Dividend card that I learned about from the Gotapex site a few months ago.

Wow. That sounds like the inverse of the usual Discover graduated rebate (starting at 1/4% and increasing to 1% after $3000).

I have the Citibank Dividend card (it used to pay me 2% on all purchases) and recently picked up the Chase PerfectCard. Since I would quickly max out the $300 annual limit on the Citibank card, I will (rather, I'll have my wife) use it almost exclusively on groceries. Then I'll get 5% back on groceries, 3% on gas, and 1% on everything else.

I replaced my AAA Visa with the Chase card, as the AAA card recently switched from a straight 5% gas rebate to system where your 5% gas rebate can not exceed 2% of your other purchases. In other words, to get a $10 gas rebate, you have to have at least $500 of non-gas purchases. Since I can always get a guaranteed 1% on that $500 on other cards (but the AAA card gives no dividend on the non-gas purchases), this effectively cuts the 5% gas rebate in half (plus I would have to play games trying to charge enough but not too much on the AAA card). Forget it.