Citi Custom Cash Card offers 5% cash back in your top spending category.

Citi Custom Cash Card offers 5% cash back in your top spending category.

Citi Custom Cash Card: An Easy and Rewarding Credit Card Option

Image Source: Fortune.com

The world of credit cards can sometimes feel overwhelming. With so many options available, it can be challenging to find a card that meets your needs. That’s where the Citi Custom Cash Card comes in. This credit card offers an easy and rewarding experience for cardholders, making it an excellent choice for those looking for simplicity and flexibility in their credit card rewards.

Overview of the Citi Custom Cash Card

The Citi Custom Cash Card stands out from the crowd due to its unique rewards program and user-friendly features. Let’s take a closer look at what this card has to offer.

APR and Fees

When considering a credit card, it’s essential to evaluate the APR and fees associated with it. The Citi Custom Cash Card comes with an introductory APR of 0% for the first 15 months, providing some breathing room for new cardholders. After the introductory period, the variable APR ranges from 19.24% to 29.24%, depending on the cardholder’s creditworthiness.

In terms of fees, the Citi Custom Cash Card offers a $0 annual fee, making it an affordable choice. However, it’s worth noting that this card charges a 3% foreign transaction fee, so it might not be the best option for frequent international travelers. Additionally, late payment and returned payment fees can go up to $41.

Unique Rewards Program

One of the most appealing features of the Citi Custom Cash Card is its rewards program. Unlike many other credit cards that limit higher cash back rates to specific spending categories, the Custom Cash Card gives you more control over your rewards. Cardholders earn 5% cash back on purchases in their top eligible spending category each billing cycle, up to the first $500 spent. After that, the cash back rate returns to 1%. The best part is that there’s no need to select a category manually—the card automatically adjusts based on your spending habits.

Eligible spend categories include drugstores, fitness clubs, gas stations, grocery stores, home improvement stores, live entertainment, restaurants, select streaming services, select travel arrangements, and select transit.

Additionally, the Citi Custom Cash Card offers unlimited 1% cash back on all other purchases, allowing cardholders to earn rewards on their everyday expenses. There is no limit to how much you can earn in rewards.

Bonus Offer for New Customers

For new customers, the Citi Custom Cash Card provides an attractive bonus offer. By spending $1,500 on purchases within the first six months of account opening, cardholders can earn $200 cash back. This bonus offer is fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back, adding extra value to the already rewarding experience.

Redeeming Citi Custom Cash Rewards

Citi Custom Cash rewards are earned as Citi ThankYou points and can be redeemed in several ways, offering flexibility to cardholders. Here are the various redemption options available:

  1. Charitable Donations: Through Citi’s ThankYou portal, cardholders can donate their points to select charitable organizations like Susan G. Komen or World Central Kitchen. The minimum requirement for a donation is typically 1,000 points, equivalent to $10.

  2. Check: Cardholders can request a check to receive their cash back. The minimum requirement for a check redemption is usually 500 points.

  3. Direct Deposits: Rewards can be redeemed as a direct deposit to your selected checking or savings account, with no account minimum required.

  4. Gift Cards: Points can be used to purchase gift cards for department and home improvement stores, restaurants, and entertainment. The minimum requirement for a gift card redemption is usually 2,500 points, with each point generally worth about one cent.

  5. Shop With Points: Through Citi’s Shop With Points program, cardholders can redeem their rewards at partnering retailers like Amazon and Best Buy, using the cash value of their points to cover all or part of their purchases.

  6. Statement Credits: Cardholders have the option to redeem their rewards for statement credits, which are applied directly to their outstanding credit card balance. There is no minimum requirement for this redemption method.

  7. Travel: Rewards can be used to book flights, hotel stays, or car rentals through Citi Travel, allowing cardholders to offset their travel expenses.

  8. Transfer Points: Citi allows cardholders to transfer their points to its travel partners’ programs, such as Wyndham Rewards or Avianca LifeMiles, potentially increasing the value of their rewards.

Additional Benefits

While the Citi Custom Cash Card focuses primarily on its cash back rewards, it also offers a few additional benefits for cardholders:

  1. Citi Entertainment: Cardholders gain access to Citi Entertainment, a program that provides special access to ticket pre-sales, games, and other events.

  2. Mastercard ID Theft Protection: Mastercard ID Theft Protection is an optional benefit that monitors cardholders’ information and notifies them of any suspicious activity, helping to protect against identity theft.

  3. Free FICO Score Access: As a cardmember, you can check your credit score for free through your Citi account, allowing you to monitor your credit health and make more informed financial decisions.

Is the Citi Custom Cash Card Right for You?

The Citi Custom Cash Card is an excellent choice for individuals who prefer a straightforward credit card experience without the hassle of choosing bonus categories or keeping track of rotating category calendars. With its unique rewards structure and user-friendly features, this card offers simplicity and flexibility. However, if you prioritize travel rewards and benefits, the Citi Custom Cash Card may not be the ideal fit, as it charges foreign transaction fees and lacks traditional travel insurance benefits.

Similar Credit Card Options

While the Citi Custom Cash Card has its appeal, it’s essential to consider alternative options that may better align with your spending habits. Two similar cards worth exploring are:

Bank of America Customized Cash Rewards vs. Citi Custom Cash

The Bank of America® Customized Cash Rewards Credit Card shares similarities with the Citi Custom Cash Card. It also comes with no annual fee and provides control over rewards. With the Bank of America card, cardholders can earn 3% cash back in a category of their choice, such as online shopping, drugstores, or home improvements. Additionally, they earn 2% cash back at grocery stores and wholesale clubs, and 1% on all other purchases. However, the Bank of America card requires manual selection of the 3% category each month, whereas the Citi Custom Cash Card automatically adjusts based on spending habits.

Quicksilver Rewards vs. Citi Custom Cash

The Capital One Quicksilver Cash Rewards Credit Card offers a flat 1.5% cash back rate on all purchases, making it a straightforward option for earning rewards. While the Quicksilver Rewards Card requires excellent credit to qualify, it offers added benefits like travel accident insurance and extended warranty protection. Importantly, the Quicksilver card does not charge foreign transaction fees, making it more suitable for international travelers compared to the Citi Custom Cash Card.

Frequently Asked Questions

Q: Does the Citi Custom Cash Card have a foreign transaction fee?
A: Yes, the Citi Custom Cash Card charges a 3% fee for purchases made in foreign currency.

Q: What is the starting credit limit for the Citi Custom Cash Card?
A: The credit limit for the Citi Custom Cash Card varies depending on factors such as credit history and income. While the minimum credit limit is $500, some users report receiving credit limits as high as $10,000.

Q: What credit score do I need for the Citi Custom Cash Card?
A: The Citi Custom Cash Card requires fair to excellent credit. Generally, an “excellent” score range means a credit score of 800 or higher, according to Equifax, one of the major credit bureaus.

Please note that the details mentioned in this article are accurate as of the publish date but are subject to change at any time at the issuer’s discretion. Before applying for the Citi Custom Cash Card or any other credit card, please contact the card issuer to verify rates, fees, and benefits.