Published on January 22nd, 2015 | by William Charles8
Minimum Cash Redemption For Each Credit Card Issuer
There are a lot of good cash back cards on the market, a lot of which have category bonuses. One frustrating thing about juggling multiple cards is that you can often not redeem in small increments, this means you need to put a lot of spend on a single card if you’re ever to redeem the cash back.
I thought it would be useful to put together the minimum redemption levels for each card issuer/card. Here they are:
- 1 American Express
- 2 Bank of America
- 3 Barclaycard
- 4 BBVA Compass
- 5 Capital One
- 6 Chase
- 7 Citi
- 8 Discover
- 9 Navy Federal Credit Union
- 10 U.S Bank
- 11 Wells Fargo
- 12 Final Thoughts
Blue Cash Cards
There is a minimum redemption of $25
Membership Rewards Cards
There is a minimum redemption of 1,000 points at a time, remember to keep in mind you do not even get 1¢ in value.
Bank of America
All Bank of America credit cards have a minimum redemption of 2,500 points ($25) apart from the American Express Fidelity card (issued by FIA card services) which has the following limits:
American Express Fidelity
Minimum redemption of 5,000 points ($50) when redeeming for cash back.
Minimum redemption is 10,000 points ($100) when redeeming against travel expenses, making points worth 1¢. If redeeming for non travel, the minimum redemption is 5,000 points for $25, making points worth 0.5¢.
Arrival (no fee version)
Minimum redemption is 2,500 points ($25) when redeeming against travel expenses, making points worth 1¢. If redeeming for non travel, the minimum redemption is (I think) 5,000 points for $25, making points worth 0.5¢.
Sallie Mae Mastercard
DoubleTriple & CompassPoints are both worth a penny per point when redeeming for statement credit. You must redeem a minimum of 2,500 points ($25) at a time.
Capital One Venture
No minimum redemption.
Capital One Quicksilver
There is no minimum to how much you can redeem (e.g a single penny is fine).
Capital One Spark Cash Business Card
Minimum redemption is $25.
All Chase cards that earn UR points require you to redeem at least 2,000 points ($20) when redeeming for cash back or statement credit.
Citi Double Cash
You must redeem at least $25 at a time with the Citi Double Cash card.
Citi ThankYou Points
When redeeming ThankYou points for a check you need to redeem a minimum of $50 (5,000 points), if you redeem for statement credit then there is a $10 minimum (1,000 points).
Discover recently made it possible to redeem for any increment (e.g a single penny) as long as you’ve got the latest version of their app. This change was made to all of their credit cards (Discover it, Discover it secured, Discover more, Discover it Chrome, etc etc). If you want to redeem for partner gift cards (it’s possible to get more than 1¢ in value by doing this) then you will need to redeem at least $20 at a time, increments depend on the gift card.
$50 minimum redemption
No minimum redemption
U.S Bank has differing rules based on what credit card you have, they are as follows:
If you choose to redeem into your U.S Bank deposit account (checking, saving or money market) or as a statement credit here is no minimum redemption (e.g a single penny will work fine). If you redeem to a U.S Bank rewards credit card then there is a $20 minimum and you can only redeem in $5 increments.
Keep in mind at the moment if you redeem $100 or more at a time then you will get a $25 bonus (you can only do this once per calendar year and this is getting phased out on April 1st, 2015.
You must redeem a minimum of 5,000 points ($50) at a time. This includes both the American Express & Visa version of this card as well as the select+.
You must redeem a minimum of 5,000 points ($50) at a time.
Wells Fargo now has a minimum redemption of $20, reduced from $25. You can also redeem from any Wells Fargo ATM.
I’m sure I missed a few cards, so if there are any you’d like added just let them know and I’ll do my best to add them. The following cards do not have any minimum redemption requirements:
- All discover cards
- Capital One Venture + Capital One Quicksilver
- U.S Bank Cash+