Caterer Savings with the Citi Forward Credit Card
One of the credit cards that I have been recommending to friends for years is the Citi Forward card. Besides being valuable for everyday use, it has the potential to save you a lot of money when you use it to pay for your wedding caterer. The credit card has no annual fee, and it also has one of the best bonus points reward system. For every $1 you spend at restaurants and bookstores (Amazon counts as a bookstore!), you earn 5 Thank You Points. If you were to redeem Thank You Points for a variety of gift cards, you can redeem increments of 2,500 Thank You Points for a $25 gift card, making each Thank You Point worth 1 cent and essentially giving you a 5% rebate on your spending.
[Update 11/1/13] Unfortunately, the Citi Forward no longer offers new cardholders 5 Thank You Points per $ spent on dining and bookstores, such as Amazon. I no longer recommend opening this credit card.
You can also use Thank You Points to book travel awards, such as flights, hotels, and car rentals. If you do that, each Thank You Point is worth 1 cent, so again you are getting a 5% rebate on your spending, which could significantly boost your honeymoon budget. On top of that, you can pay for travel expenses with a mixture of Thank You Points and cash so you don’t need to build up a large number of Thank You Points before redeeming. Last but not least, if you also have the Citi Thank You Premier card, all your Thank You Points are worth 25% more when used to book flights, hotels, and car rentals. A $500 flight that would originally require 50,000 Thank You Points, for example, would only require around 40,000 points if you have the Citi Thank You Premier card. Currently, the card offers a 50,000 Thank You Points signup bonus – 20,000 Thank You Points when you open it and spend $2,000 in the first 3 months and an additional 30,000 Thank You Points in the second year after spending $3,000 in the first 3 months. The annual fee of $125 is waived for the first year only, so you will have to pay the annual fee to get the extra 30,000 points.
The Main Point
What some people may not realize when they are planning a wedding, however, is that some wedding caterers could be considered restaurants! So if your wedding caterer is coded as a restaurant by the credit card company, I highly recommend opening the Citi Forward card. The reception catering can make up a huge portion of your wedding cost so let’s say you charged $10,000 for catering on the Citi Forward card, you would earn 50,000 Thank You Points, which can be used to redeem $500 in gift cards or for traveling ($665 if you also have the Citi Thank You Premier card).
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