Citi Platinum Select Card

The Citi Platinum Select Master Card was last reviewed on 3rd December 2006

Summary - We recommend the Citi® Platinum Select® MasterCard® for people with no credit or people with fair credit. Unlike secured credit cards or other sub prime credit cards, there is no annual fee and you get a very reasonable apr. Let's explore this card in greater detail.

Fees - The Citi Platinum Select Master Card has no annual fee. The apr is low at prime rate plus 5.99% (considering this card is targeted at those with no credit or fair credit). This card uses the average daily balance (including new purchases) to calculate monthly balance. New cardholders get a 0% apr on purchases for 6 months.

Other Benefits - Cardholders also get benefits like Citi Identity Theft Solutions, $0 Liability on unauthorized purchases and Secure, free online account management.

Verdict - We recommend the Citi® Platinum Select® MasterCard® to those with no credit history and are looking to reestablish their credit. For the most parts, those with no credit history had to either get a secured credit card (with an annual fee) or get an expensive sub prime credit card. Now the Citi Platinum Select Master Card presents a far better alternative - a no annual fee unsecured credit card.

Note that this card (though similar in name to the regular Citi Platinum Select Card) is different in that the regular Platinum Select is targeted at those with good credit. Citibank has also specifically stated that those with bad or poor credit should not apply for this card.

Positives

No annual fee

One of the rare unsecured no annual fee card for those with no credit

low apr

Citi Platinum Select Master Card
Other Benefits
Annual account summary Automatic bill payments Zero Liability on unauthorized purchases Free online services
Cost/Fees/Interest rates
Introductory rate	0% for 6 months for purchases
Annual Fees	No annual fee
Purchase APR	Prime Rate plus 5.99%
Balance Transfer APR	Prime Rate plus 5.99%
Cash Advance APR	Prime Rate plus 14.99% min 19.99%
Penalty/Default Rate	Prime Rate plus 23.99%, min 28.99%, whichever is greater
Min Finance Charge	$0.50
Grace Period	20 days
Balance Calculation Method	Average Daily Balance (including new purchases)
Balance Transfer fee	3% min $5.00, max $250.00
Other Cash Advance fee	3% min $5.00
Over-the-credit-limit fee	$39.00
Late Payment fee	$15.00 up to but not including $100 $29.00 from $100-$250 $39.00 for more than $250

Apply for the Citi® Platinum Select® MasterCard®