Transferring money into Gold visa and using money - accrues points?

[hedge]

I just received a citibank gold visa with a 7k limit. I generally spend more than 7k a month (use it to fill cfd account etc). I was wondering if I transfer 7k of funds into my visa card, and then spend $14k, will I get points for the full $14k?

 

[oz_mark]

Yes, but bear in mind that if youraccount is in credit for more than 45 days Citibank may close the account and send you a cheque.

 

[hedge]

Yes, but bear in mind that if youraccount is in credit for more than 45 days Citibank may close the account and send you a cheque.

Thanks, yes I did read that in the terms and conditions. Generally I would be tranferring the money a few days and keeping the account in credit only until the end of the billing cycle, so shouldn't be greater than 45 days (should be max 30)

 

[oz_mark]

Should be ok then. From what I could make of the T&C's, as long as you were not over 10K in credit, then the transactions would count (see the definition of Eligible Transaction).

 

[kamchatsky]

I just received a citibank gold visa with a 7k limit. I generally spend more than 7k a month (use it to fill cfd account etc). I was wondering if I transfer 7k of funds into my visa card, and then spend $14k, will I get points for the full $14k?

Which CFD company are you using? Citibank does not allow transfer of funds to CFD accounts ...... Eg they won't allow transfer of money to IG Markets.

For CMC they required you to make at least 1 CFD transaction (ie opening/closing position) before you can withdraw money in cash. Otherwise they will insist credit you back via your credit card, which means negative points ......

 

[hedge]

Which CFD company are you using? Citibank does not allow transfer of funds to CFD accounts ...... Eg they won't allow transfer of money to IG Markets.

For CMC they required you to make at least 1 CFD transaction (ie opening/closing position) before you can withdraw money in cash. Otherwise they will insist credit you back via your credit card, which means negative points ......

I use a different company, and family have used their citibank cards many times with no problems and can withdraw money back into bank accounts fine. They usually make quite a few trades so I assume that is why they allow it.

 

[kamchatsky]

I use a different company, and family have used their citibank cards many times with no problems and can withdraw money back into bank accounts fine. They usually make quite a few trades so I assume that is why they allow it.

which cfd provider are you using?

 

[alect]

the other options if a couple/few months of charging and paying off and then either ask or they will volunteer an increase in your credit limit. They let me have an increased credit limit without me even asking and I never came close to spending my original credit limit in any one month.

 

[beardoc]

The other thing you might run into is a 60,000 point cap for the Gold Card - whilst not everyone has been hit with the cap, you may.