Citi launches new Citi Custom Cash Card: 5% cash back




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People who love incomes cash back with their bank card have a brand-new possibility to think about. The simply launched Citi Custom Cash℠ Card lets customers rack up extra rewards within the class they spend probably the most in every month, and a strong introductory rate of interest supply may assist save on curiosity while you make purchases or use your card for a steadiness switch.

If you’re out there for a cash back credit card with no annual charge, right here’s every thing it is advisable to learn about this brand-new providing from Citi.

  • Card holders earn 5% cash back on as much as $500 spent in your prime eligible class every billing cycle (then 1% back) and 1% cash back on all different purchases.
  • New card holders can earn $200 in cash back while you spend $750 inside three months of opening the account.
  • No annual charge.
  • 0% APR on purchases and steadiness transfers for the primary 15 months after opening the account, adopted by a variable APR of 13.99% to 23.99%.

At first look, the Citi Custom Cash Card appears to be like much like different cash back playing cards that earn 5% back in quarterly bonus classes, such because the Chase Freedom Flex or the Discover it® Cash Back. However, the Citi Custom Cash Card provides much more flexibility in the case of its 5% back classes and the way you utilize them.

With the Citi Custom Cash Card, card holders earn 5% cash back on as much as $500 spent of their prime eligible class every billing cycle (then 1% back). Eligible 5% back classes embody gasoline stations, eating places, grocery shops, choose journey, choose transit, choose streaming companies, drugstores, house enchancment, health golf equipment and stay leisure.

But not like different playing cards with rotating 5% cash back classes, Citi Custom Cash Card holders don’t need to “enroll” in preset classes to maximise their 5% back in rewards. Instead, you’ll routinely earn 5% back in your prime eligible spending class each billing cycle, and your class will change with you every cycle as your spending modifications.

How a lot are you able to earn in bonus rewards? Since the 5% back is capped at $500 in spending per billing cycle, this implies you’ll be able to earn a most of $25 back within the 5% bonus classes per 30 days, or a complete of $300 in rewards in your prime spending classes each 12 months.

The Citi Custom Cash Card earns its rewards within the type of Citi ThankYou factors, which may be transformed to cash back or redeemed for reward playing cards, merchandise or journey at a charge of 1 cent per level. So should you make a $100 buy in a 5% class, you’ll earn 500 factors that may be redeemed for $5 in cash back.

But while you mix the Citi Custom Cash Card with a premium Citi ThankYou card, such because the Citi Prestige® Card or Citi Premier℠ Card, you acquire the choice to switch your ThankYou factors to any of Citi’s 16 airline companions, making the factors value probably greater than 1 cent every should you use them strategically.

New Citi Custom Cash Card holders can earn $200 in bonus cash back after spending $750 in the first three months after opening the account.

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New Citi Custom Cash Card holders can earn $200 in bonus cash back after spending $750 within the first three months after opening the account.

It’s all the time nice to see a no-annual-fee bank card include a sign-up bonus, and on that entrance, the Citi Custom Cash Card doesn’t disappoint. New card holders can earn $200 in bonus cash back after spending $750 within the first three months after opening the account.

Like the cardboard’s on a regular basis cash back, this bonus is awarded within the type of ThankYou factors, so when you’ve met the spending requirement, you’ll earn 20,000 ThankYou factors that may be redeemed in the identical method as the cardboard’s different rewards.

And whereas many bank card issuers rolled back their steadiness switch provides all through the pandemic, the Citi Custom Cash Card arrives with a beneficiant introductory rate of interest supply that applies no matter how you propose to make use of your card.

New card holders who get the Citi Custom Cash Card can entry an introductory 0% APR on each purchases and steadiness transfers for the primary 15 months after opening the account. However, it’s necessary to repay your debt in full earlier than the introductory interval ends, as a result of after that, you’ll pay a variable APR of 13.99% to 23.99% relying in your creditworthiness.

It’s additionally necessary to remember the fact that should you’re utilizing the introductory 0% APR for a steadiness switch, you need to full the switch inside the first 4 months after opening the account. Also, a 5% steadiness switch charge applies (with a $5 minimal), which makes this feature barely much less enticing when in comparison with different balance transfer credit cards that cost solely a 3% charge.

We’ve already talked about how the Citi Custom Cash Card compares to different bank cards with rotating 5% classes, however how does it stack up towards different bank cards from Citi?

One of probably the most direct comparisons is with the Citi® Double Cash Card, which is NCS Underscored’s benchmark credit card. The Citi Double Cash earns 2% back on all purchases — 1% while you make a purchase order and one other 1% while you pay it off. The Citi Double Cash additionally has no annual charge and comes with an introductory 0% APR supply on steadiness transfers for the primary 18 months after you open the account (adopted by a variable APR of 13.99% to 23.99%).

While the Citi Double Cash Card’s flat rewards charge makes the cardboard an important on a regular basis alternative, it’s value noting that its introductory APR doesn’t apply to purchases — solely steadiness transfers — so the Citi Custom Cash Card has a leg up on that entrance. However, the Citi Double Cash solely costs a 3% steadiness switch charge (with a $5 minimal) while you use it to consolidate debt.

Related: Read NCS Underscored’s review of the Citi Double Cash Card.

Another Citi bank card value a glance is the Citi Rewards+® Card, which additionally has no annual charge. New card holders can begin by incomes 15,000 ThankYou factors after spending $1,000 within the first three months after opening the account, which may be redeemed for cash back at a charge of 1 cent per level.

From there, card holders earn 2 factors for each greenback they spend on the primary $6,000 in purchases at supermarkets and gasoline stations annually (then 1x factors) and 1 level per greenback on all different purchases. But the Citi Rewards+ additionally rounds up all purchases to the closest 10 factors, so a $1 espresso earns 10 factors, whereas a $22 dinner with pals garners 30 factors.

Citi Rewards+ card holders additionally get 10% of their factors back on the primary 100,000 Citi ThankYou factors they redeem annually. And just like the Citi Custom Cash Card, the Citi Rewards+ provides a 0% introductory APR on each purchases and steadiness transfers for the primary 15 months after opening the account, adopted by a variable APR of 13.49% to 23.49%.

Related: Read NCS Underscored’s review of the Citi Rewards+ Card.

The Citi Custom Cash Card is a great complement to an everyday credit card such as the Citi Double Cash Card.

Citi

The Citi Custom Cash Card is a good complement to an on a regular basis bank card such because the Citi Double Cash Card.

Since this can be a card that has no annual charge, the Citi Custom Cash Card can work for nearly anybody. However, the pliability of its 5% back classes makes it a superior possibility for individuals who don’t usually just like the set-in-stone 5% back classes of the Chase Freedom Flex or the Discover it Cash Back.

Meanwhile, customers wanting to save cash on curiosity may think about the Citi Custom Cash Card for its introductory 0% APR supply on purchases and steadiness transfers (although it’s higher for purchases than steadiness transfers as a result of 5% steadiness switch charge). In both case, remember the fact that the 0% APR lasts for a restricted time, and any remaining steadiness will accrue monumental curiosity costs if it’s not paid off in full earlier than the introductory charge expires.

In the tip, like all bank cards that solely earn 1% cash back outdoors of their bonus classes, the Citi Custom Cash Card is greatest used together with an on a regular basis card just like the Citi Double Cash. Pop each playing cards in your purse or pockets and attain for the Citi Custom Cash while you’re paying for a purchase order that falls into your favourite 5% bonus class, and the Citi Double Cash for every thing else. You received’t need to pay an annual charge for both card, and also you’ll have the perfect of each worlds.

Learn more about the Citi Custom Cash card.

Find out which bank cards NCS Underscored selected as its best credit cards of 2021.

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