|by Mr Credit Card|
Update – Citi is no longer offering this card. Instead, this has been replaced by the Citi® Dividend Platinum Select® Card.
The Citi CashReturns® Card is the latest line up of Citi’s cash back credit card and has a great shopping portal (where you can earn extra rebates) and it also offers a very generous 0% APR* balance transfer deal. Let’s find out more about this card.
Rebate Formula – Well, unlike the Citi Dividend Card, the Citi Cash Returns Card offers 1% rebates for every dollar that you spend on the card. You can earn unlimited rebates that do not expire. Once you have earned $50, Citi will send you a check automatically. You will also earn rebates from cash advances and convenience checks. Given the interest charged on these, I suggest you avoid this trap. You will also earn 5 citidollars (as they call their rewards) for every $1,500 in balance transfers!
As an incentive, new cardholders earn 2% rebates on every purchases for six months.
Citi Bonus Cash Center – Citi has a feature called the “Citi Bonus Cash Center”, which has partnerships with about 400 merchant partners. The program allows you to earn extra cash rebates if you use the Citi Cash Returns Card to shop either off-line, online, through catalogs or gift cards with these merchant partners. (see screen shots below)
Fees – The Citi Cash Returns MasterCard has no annual fee. New cardholders get a 0% APR balance transfer for 18, 12 or 7 months.
Verdict – The Citi CashReturns® Card is a great card for various reasons. Firstly, they have a very good shopping portal where you can get discounts when you shop with their merchant partners (both online or offline). Secondly, if you are looking to do a balance transfer, this card offers a 0% APR* on balance transfers for up to 18, 12 or 7 months. I also like the fact that they send you a $50 check once you have earned that rebate (for those of us who are forgetful!).