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Citibank Enrich Platinum vs. MBNA Smart Cash Platinum Card

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Sr. Member
Mar 27, 2004
615 posts
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Citibank Enrich Platinum vs. MBNA Smart Cash Platinum Card

So now that the American Express 2% cash back card is charging an annual fee, I'm starting to look into maybe replacing it with another. It seems that the MBNA Smart Cash card is one of the better credit cards out there. I looked at it and it seems to be better than my Citibank Enrich Platinum (the one thing I really liked is the rental car damage coverage it has which the Smart Cash also has) in every way. I'm thinking of switching my Enrich to the Smart Cash. I've had the Enrich for a long time but it seems this Smart Cash gives slightly better cash back for gas and groceries. Is there any benefits to keeping the Enrich and not switching? Also, the Capital One Aspire card seems to be well liked even though it has an annual fee. Is it only worth it if you decide to use the points for traveling? Thanks.
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Mar 3, 2002
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Esca wrote: Is there any benefits to keeping the Enrich and not switching?

You'd be losing the price protection feature on the Enrich card, but ask yourself whether you've actually used that feature (for how much--and how often).
Newbie
Feb 17, 2009
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I've consolidated all of my credit cards into 2. AMEX AirMiles (because I need a card that I can use at Costco) and MBNA Smart Cash Platinum. The Smart Cash is my primary card and I haven't found a reason to switch yet..
Sr. Member
Mar 27, 2004
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Thanks for the replies.

I actually never used the Price Protection. I guess I will retain my Citibank Enrich for now as it doesn't seem to be worth it to switch over.
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Aug 2, 2001
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Esca wrote: Thanks for the replies.

I actually never used the Price Protection. I guess I will retain my Citibank Enrich for now as it doesn't seem to be worth it to switch over.

The MBNA offers 3% cashback on gas and grocery purchase, so if you are doing any of those it would be in your best interest to use the MBNA SmartCash for those purchases.

I'm not sure why you would have to drop Citibank to apply for the MBNA one, so I wouldn't hesitate to apply and keep both.
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Nov 26, 2005
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Vancouver
isnt citi bank quiting canadian cc business?
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Esca wrote: Thanks for the replies.

I actually never used the Price Protection.
Then the Enrich card is useless for you. Switch to Smartcash. No brainer
as it doesn't seem to be worth it to switch over
I would switch from Enrich to Smartcash. Getting more money is worth it.
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Esca wrote: So now that the American Express 2% cash back card is charging an annual fee

Call Amex. Request to be transferred to their Customer Care department. Say that you want to cancel your card. It's imperative that you be transferred to the Customer Care department (request that your call be transferred). Again, that's only open during weekdays during regular business hours.

They may offer you, depending on your spending habits, a $100-$150 gift certificate. Hold out for at least $100 (if they try to lowball you--and if you spend 30K+ annually on your Amex).

I use that same Amex card (for most stuff) and the MBNA Smartcash for gas and groceries.
For cash back (with essentially no annual fee due to the gift certificate), that's an unbeatable combo right now.
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vm_fan wrote: It seems to me that most people with Citi cards don't take advantage of PP and I'm not sure why that is
Mostly it's just a matter of spending habits. I now rarely end up buying something that suddenly drops in price within two months (computers, software, and anything that I do buy that does drop isn't covered with Enrich), so I find Enrich Platinum has become incredibly pointless.

MBNA issues cheques within 6 weeks of you earning $50. Citibank issues a cheque once annually, which means you wait longer to receive your money (and consequently lose even more money because you have to wait longer should you wish to invest it).

Furthermore, Citibank Enrich Platinum caps max cashback at $500. The regular Enrich caps at $250.
There is no cap with MBNA.
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Aug 2, 2001
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Webslinger wrote: Furthermore, Citibank Enrich Platinum caps max cashback at $500. The regular Enrich caps at $250.
There is no cap with MBNA.

I have not made any comparisons with other rewards cards, however if you are spending $50,000 on your Platinum Enrich to max out the cashback I think there might be better options out there in the other cards.

So really, the cashback max for 99% of people is not an issue, and for those that spend more there may be better choices anyways.
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TrevorK wrote: I have not made any comparisons with other rewards cards, however if you are spending $50,000 on your Platinum Enrich
I'm not. 5% intro on MBNA for first 6 months on gas and groceries (plus GCs at these places) up to $600 spending/month) + 3% cash back on gas and groceries (plus GCs at these places) up to $600 spending/month afterward +1 % on everything else, simply makes it easier to hit the cap that Citibank Enrich cards impose.

180 + 108 = $288 cash back for $7200 spending on gas and groceries (and gift certificates from these places) over the first year of the card
$212 for $21,200 spent elsewhere that same year to reach $500 cash back (if you're using MBNA Smart Cash alone)

So, $28,400 in spending is sufficient to hit $500 cash back with MBNA over the first year. Who needs to spend 50K?
I think there might be better options out there in the other cards.
Yes, MBNA Smartcash, for one.

I spent over 30K on Amex cash back alone (tiered up to 2%) last year. That excluded gas and groceries, obviously.

There's a reason why I don't use Enrich (because I find the price protection feature to be worthless based on my spending practices). I don't deny Enrich could be useful if one makes use of the price protection feature, but I don't anymore.

So really, the cashback max for 99% of people is not an issue

Are you basing that on your observations concerning family annual spending on credit cards? I'm not sure where you're getting your 99% from since I do know families that spend over 50K annually on their credit cards (and they don't seem like they represent 1% of the population to me; they aren't that special). Regardless, I didn't come close to spending 50K on credit cards, and yet I received significantly more than $500 cash back last year without paying a cent for annual fees.

Anyway, yes, clearly better cards exist.

I only care about cash back cards with no annual fees. Of these, the Amex gold 2% cash back (now there's a $99 annual fee--but if you spend enough annually you can threaten to cancel, and Amex will give you a $100-$150 GC for not cancelling) + MBNA Smartcash is an unbeatable combo.
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Webslinger wrote: So, $28,400 in spending is sufficient to hit $500 cash back with MBNA over the first year. Who needs to spend 50K?
You mentioned a downfall of the Citibank Enrich (in comparison to the MBNA offering) is that it has a $500 cap. Since it offers 1% cashback that would require $50K in spending to hit it. This is not a downfall for most Canadians.
Are you basing that on your observations concerning family annual spending on credit cards? I'm not sure where you're getting your 99% from since I do know families that spend over 50K annually on their credit cards (and they don't seem like they represent 1% of the population to me; they aren't that special). Regardless, I didn't come close to spending 50K on credit cards, and yet I received significantly more than $500 cash back last year without paying a cent for annual fees.

My observation of the average Canadian not spending $50,000 on their credit card is based off of the average income of Canadians.

The only way I can see an average Canadian able to reach $50,000 spending on their credit card is if they are able to incorporate rent (which I know some companies take) and a bunch of business expenses that get reimbursed. Otherwise it is unrealistic to spend $50,000 on a credit card in a single year without an extraordinary expense that required years of savings (A $40,000 kitchen reno for example).
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TrevorK wrote: You mentioned a downfall of the Citibank Enrich (in comparison to the MBNA offering) is that it has a $500 cap. Since it offers 1% cashback that would require $50K in spending to hit it. This is not a downfall for most Canadians.
Being restricted to $500 cash back, regardless of what one spends, is a limitation.
It is especially limiting considering the alternative being discussed (smartcash) does not require 50K to achieve $500 cashback. And I guarantee you that many people in the Amex thread have reported over 30K spending annually. So I suggest the point I'm making actually affects many people.


Also, 99% is quite a bit different than "most" (anything 51% or more can be "most").

My observation of the average Canadian not spending $50,000 on their credit card is based off of the average income of Canadians.
Again, I know some families that do spend more than that (collectively) on a single credit card account. I agree with you that they do not represent "most", but I suspect the percentage of families that do this is significantly higher than 1%.

There are some people in the Amex thread reporting over 40K spent on their credit cards last year. So, it's not much of a stretch . . .
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Webslinger wrote: There are some people in the Amex thread reporting over 40K spent on their credit cards last year. So, it's not much of a stretch . . .

Peanuts compared to some personal Diners Club accounts with yearly spending of a couple of million ;)
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vm_fan wrote: Do you have to threaten to cancel the Amex every year?
I would expect so, yes. If they ever stop offering $100+ GCs to offset the annual fee, I'm going to cancel.
For me personally, it would be an unbeatable trio:

- MBNA Smart Cash 3% for groceries and gas
- Citi Enrich for items that I know I will claim Price Protection on
- Amex Gold 2% cashback for everything else
I had those three, but as I mentioned my spending habits are such that the PP feature isn't useful.


Say, for instance, I want to buy a tricked-out smartphone at the local Future Shop, but I find a cheaper price at an American website.


Again, I should point out that PP has certain restrictions, such as it excludes non-Canadian retailers, so the above scenario shouldn't be even possible.
Yeah, and I'm pretty sure if they find out what you're doing, they'll come back to reclaim the money at the very least.
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Webslinger wrote: Again, I know some families that do spend more than that (collectively) on a single credit card account. I agree with you that they do not represent "most", but I suspect the percentage of families that do this is significantly higher than 1%.

There are some people in the Amex thread reporting over 40K spent on their credit cards last year. So, it's not much of a stretch . . .

It's a simple inference the vast majority of Canadians cannot spend 50K on their credit cards based on the income levels. These statistics aren't skewed, inflated, etc.... The income levels are real and I would believe them over the random internet threads you read from people.
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Mar 27, 2004
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TrevorK wrote: The MBNA offers 3% cashback on gas and grocery purchase, so if you are doing any of those it would be in your best interest to use the MBNA SmartCash for those purchases.

I'm not sure why you would have to drop Citibank to apply for the MBNA one, so I wouldn't hesitate to apply and keep both.

Well as Vm_fan once felt, I just don't want so many credit cards. I just like the simplicity of having to carry and use one credit card (up till this year I used the Amex 2% and Enrich). I'll probably call in this week to see if they will offer me a $100 gift card as I do like the look of the card. The extra 2% I get from SmartCash is not worth enough to switch (I barely spend any on groceries and for gas I use a lot of gift cards) coupled with the fact I may have to take a hit on my credit limit.

I actually do a look of traveling and I'm looking into the Capital One Aspire. However, it seems if I can retain the Amex 2%, it seems to be the better choice.
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vm_fan wrote: Umm, shouldn't that be what they're doing?
Yes, and I suspect they can come back at you at any time.


Anyway, I'm talking as though Citi actually handles the PP claims, but here's the thing: a third-party does it for them

Yeah, I've used the PP feature in the past with Citi.
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TrevorK wrote: It's a simple inference the vast majority of Canadians cannot spend 50K on their credit cards based on the income levels. These statistics aren't skewed, inflated, etc.... The income levels are real
The average income of economic families in Canada after taxes in 2008 is $74,600 (two or more people) according to statscan. So, in fact, it's possible. I don't suggest it's possible for the majority of Canadians, but it is possible for more than 1% of the population (what you claim). "An economic family is a group of individuals sharing a common dwelling unit who are related by blood, marriage (including common-law relationships) or adoption." (statscan)
http://www40.statcan.ca/l01/cst01/famil21a-eng.htm

Two parent families with children (under 18) in 2008 averaged $84,900 after taxes.

and I would believe them over the random internet threads you read from people.

I believe my own experiences rather than what someone else claims to me. That said . . .


http://www40.statcan.ca/l01/cst01/famil16a-eng.htm

In Canada, the average household expenditure is $71,117. Of that $14,095 is spent on shelter. And $14,399 is spent on income tax. $4,269 is spent on personal insurance payments and pension contributions. That's leaves well over 35K to spend on things that can be charged on credit cards--the difference after income tax, shelter and pension contributions being $38,354.

http://www40.statcan.ca/l01/cst01/famil16a-eng.htm
In Ontario, that difference is $41,100.

http://www.statcan.gc.ca/daily-quotidie ... 4a-eng.htm
"In Canada, the top 5% of taxfiling families in 2004 had an income of at least $154,000."

And lots of people here at redflagdeals are using supplementary cards with others in their families.
50K annual spending on a credit card account can affect more than the 1% you claim it does.

$89,000 places an individual earner in the top 5%.

All of this notwithstanding, I consider your 50K spending issue to be little more than a red herring; all other things being equal, a cash back limit on a card is not desirable given the alternative of not having any limit at all.

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