The Citi Professional Cash Card was last reviewed on 16th June 2008.
Summary - We recommend the Citi® ProfessionalSM Cash Card to the business owner who is looking for a cash back credit card and also to build a business credit. This card allows you to earn 3% cash rebates on certain business expenses. Let's explore this card in greater detail.
Cash Rebate Formula - The Citi Professional Cash Card allows you to earn 3% cash back on purchases made at restaurants, gas stations, certain
office supply merchants, and for auto rentals. You earn 1% cash back on all other regular purchases. You can earn rebates on purchases, cash advance and balance transfers and up to a total of $600 in cash rebates in one calendar year (Citi's calendar year starts from the beginning of January).
Rebates are called "professional dollars". Once you have earned fifty professional dollars, you can call Citi to issue you a $50 check. You can also earn five professional dollars for every $1,500 of balance transfer.
Annual Fee - There is no annual fee for the Citi Professional Cash Card. The apr is prime rate plus 5.99%. There is a 0% introductory offer on purchases for 12 months. The average daily balance method (including new purchases) is used to calculate monthly balances.
Other Benefits - With this credit card, you will get categorized monthly statements and quarterly and annual summaries and an online Expense Reporting tool which helps your online statements to customize reports for billing or reimbursements. You also get a 24/7 personal business assistant to assist you to travel or dining bookings (like a concierge service).
Verdict - For the longest time, Citi does not have a cash back business credit card. The Citi Professional Cash Card fills this void. As a business cash back credit card, it has a good rebate formula. However, the SimplyCash® Business Card from American Express pays 3% on gasoline, and 5% on office supplies and wireless provider and allows you to earn unlimited rebates. If your business has a large expense and you want to maximize your cash rebates, perhaps the American Epxress SimplyCash is a better alternative.
However, all American Express business credit cards do not report to the business credit bureaus like Dun and Bradstreet (all Citi business credit cards do). If you looking to establish a business credit and a good cash back business credit card, then I would recommend the Citi® ProfessionalSM Cash Card.
Positives
Earn 3% cash rebates on select business purchasesNo annual fee and low apr
Enter your approximate monthly spending into the calculator below to see how much you can earn per month if you're using Citi Professional Cash Card versus other cards!
| Point Accumulation |
Earn 3 points for purchases at restaurants, gas stations, auto rentals and certain office supply restaurants
Earn 1 point for every dollar spent on other purchases |
| Points Expiration |
End of 3 Calendar Years |
| Caps on Points |
100,000 |
| Introductory rate |
0% APR on purchases for 12 months |
| 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% |
| 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 |
| Cash Advance fee |
3% ,min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$15.00 - less than $100
$29.00 - $100 to $250
$39.00 - $250 and above |
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