This year has been the year where 5% cash back credit cards like the Citi Dividend Platinum Select Card and the Chase Cash Plus Rewards Visa have reduced their rebate payout for EDP (Everyday purchase items). Citi have reduced it to 2%, while Chase has come up with a new Freedom Card that pays 3% rebates on EDP.

Now the Citi Diamond Preferred Rewards Card has joined the act as well. Whereas previously you earned 5 points for every dollar you spend on EDP (supermarket, gas stations and drugstores), you now only earn 5 points for every dollar you spend in these categories for the FIRST YEAR. After that, you earn the standard one point for every dollar you spend.

As a result of these changes, my opinion is that the Citi Professional Card is the better card to get because you can earn 3 points for every dollar you spend on restaurants, gas stations, auto rentals and certain merchant supplies. While not exactly EDP (no supermarkets and drugstores), it still looks like a better alternative to the Citi Diamond Card.

This entry was posted on Friday, November 10th, 2006 at 2:59 am and is filed under Opinions, Reward Credit Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.