The Citi Rewards+ credit card Review
Citibank issues several cards tailored to different financial strategies. The Citi Rewards+ credit card is different in that it is intended for people who frequently shop offline and make online orders. This solution is for active users since it provides a favorable interest rate in the range of 16.49%-26.49%. The rate depends on the credit score of the client. However, the rate for new clients is 0%. This offer is valid for 15 months from the date a credit card is issued. For each purchase, the cardholder receives ThankYou points, which do not need to be converted into currency and may be used to pay for purchases and orders directly.
Citibank is the largest international bank, founded in 1812. Therefore, it is no wonder that it offers more than a dozen cards of different types, all of which are in high demand. It is a trustworthy financial organization with a rich history and a responsive support team. The Citi Rewards+ card offers an average credit rate for the Western market. The rate is determined by the client's creditworthiness, and if their credit score changes while the card is in use, so does the rate. The higher the credit score of the client, the lower the rate. The minimum interest rate is 16.49%, while the maximum is 26.49%.
New clients receive a unique benefit of an annual rate of 0% for the first 15 months. The bonus is provided regardless of the client's financial strategy. Another important advantage of this card is the ThankYou points system where all purchases are rounded up to the nearest 10 reward points. For instance, if you pay $2 for parking, you will earn 10 points. You will also receive 20 points if you spend $12 on purchases at a pharmacy. Later, the points in different equivalents can be used to pay for any purchases and to order various services. Under certain Citi Rewards+ credit card conditions, you can earn 2-5 times the points.
Main features of the Citi Rewards+ credit card
It is advisable to choose a credit card based on the sum of factors. The first group of such factors is the basic parameters, which include the annual rate, maintenance fees (if any), etc. The Traders Union experts have summarized all the important information about the Citi Rewards+ credit card in the table below.
| Parameters | Citi Rewards+ |
|---|---|
Maintenance fee |
$0 |
Standard rates |
16.49%-26.49% |
Rate for new clients |
0% in the first 15 months |
Recommended credit score |
690-850 (Excellent) |
Pros and cons of the Citi Rewards+ credit card
The second group of parameters used to rate a credit card is its financial parameters. First, it is the number of fees charged for transfers and other operations, as well as the availability of standard and additional options that make it easier for the user to manage finances. The table below shows the advantages of the Citi Rewards+ card. Like any other card, it also has disadvantages, which can be revealed through comparison with its competing products.
👍 Pros
•No maintenance fee
•New clients have a 0% annual rate (for 15 months)
•For all funds spent, the client receives points rounded up to tens
•The number of points received can be increased several times if you spend funds in certain specified categories
•The client earns points equivalent to $200 if they spend over $1,500 in the first 3 months
•In the first 4 months, the universal fee is reduced to 3%
👎 Cons
•You need a high credit score to get a card
•If the client's credit score drops during the use of the card, the annual rate will rise
•To get particular benefits, you need to meet certain requirements
Benefits and special features of the Citi Rewards+ credit card
The third group of parameters used to rate credit cards is the unique opportunities provided to the cardholder. These are the various benefits that are not available with other banks or provided under different conditions. The Citi Rewards+ card offers numerous benefits. The Traders Union experts will describe the three most significant.
Welcome bonus
Many credit cards provide a welcome bonus, but not all conditions are appropriate for the average consumer. As for Citi Rewards+, the requirements for receiving a welcome bonus are quite loyal. You should spend at least $1,500 for the first 3 months of using the card to receive ThankYou bonus points in your account, the amount of which equals $200. These points can be used for full or partial payment of any purchases and orders.
Special conditions for new clients
A zero rate for a certain period that exceeds 12 months is also a typical benefit offered by the credit cards of top banks. Citi Rewards+ cardholders get an annual rate of 0% for the first 15 months.
Extra points
For most operations, you earn bonus points in the "one point per dollar" ratio, rounded up to ten. However, you can earn extra points in some categories. For example, for the first $6,000 spent at gas stations and supermarkets, you earn double points, and if you spend money in restaurants, you will receive five times the number of standard ThankYou points.
Citi Rewards+ credit card fees
A bank's fee policy is important when it comes to bank cards (not only credit cards). Even the most advantageous benefits and a lot of additional perks will not be able to compensate for the high fees on general operations. Citi Rewards+ credit card fees can be considered beneficial because:
The Citi Rewards+ card has a universal fee for all transactions that affects the balance.
In the first 4 months of using the credit card, the universal fee is 3% of the transaction amount or $5 (whichever is greater).
After 4 months, the universal fee increases to 5% of the transaction amount ($5 minimum).
The owner of a Citi Rewards+ credit card gets access to all functions and features without a maintenance fee or subscription.
The Citi Rewards+ credit card stands out among its competitors because most banks charge a lot of fees, while it doesn’t. Few to none of the banks have a universal fee for all transactions. However, in some cases, Citi Rewards+ may also have extra fees, but they are always indicated before you make the transaction, so there are no pitfalls.
Note that you must pass a credit score check to apply for a Citi Rewards+ card. If your credit score is less than 690 points, the application will not be approved. Your application will only be approved if your credit score is close to 850 points. These are standard conditions for most banks.
Best Crypto CardsComparison of Citi Rewards+ credit card to other banks' cards
You can review the conditions of credit cards of different banks on your own and compare them with the Citi Rewards+ card. An easier way is not to spend time and check the table below prepared by the Traders Union experts. This table shows details of the Citi Rewards+ card, as well as the cards of Citibank's leading competitors. The information in the table is constantly updated.
| Citi Rewards+ | Capital One Venture X Rewards Credit Card | Citi Double Cash Card | Discover it Cash Back | Bank of America Travel Rewards credit card | |
|---|---|---|---|---|---|
Maintenance fee |
$0 |
$395 |
$0 |
$0 |
$0 |
Standard annual rate |
16.49%-26.49% |
18.49%-25.49% |
16.24%-26.24% |
14.24%-25.24% |
16.24%-26.24% |
Interest rate for new clients |
0% for first 15 months |
Equal to standard interest rate |
0% on money transfers for 18 months |
0% on purchases and money transfers for 15 months |
0% on purchases for 18 payment cycles; 0% on money transfers for 2 months |
Recommended credit score |
690-850 (Excellent) |
720-850 (Excellent) |
690-850 (Excellent) |
690-850 (Excellent) |
690-850 (Excellent) |
Who can use a Citi Rewards+ credit card
The card is suitable for people who often use the maximum of their financial abilities. The more you spend the more benefits you get. At the same time, the number of benefits increases for certain categories, such as grocery stores or gas stations. The holders of this card also get an offer from Citi Entertainment that gives special access to various entertainment experiences, including concerts and sporting events.
For the first 15 months, there is no interest on loans, and for the first $6,000 spent (on certain categories), you earn extra points. Points are rounded up to the tens and can be spent on purchases and almost all regular operations. Citi credit cards do not have special conditions for investment and or special benefits for travelers. But it is perfect for the average consumer because it allows them to receive extra benefits that partially compensate for their expenses on purchases.
Conclusion
The Citi Rewards+ credit card has no conceptual differences from the cards of other leading banks in terms of benefit opportunities. Citibank provides its cardholders with a standard bonus program. Bonuses are earned automatically for all financial transactions and can be spent as conventional funds on the same operations (for example, points can be used to fully or partially pay for an order in an online store). In general, the Citi Rewards+ card provides more points when used actively than the cards of other banks. The basic idea is that the more money you spend, the more benefits you get. This applies, for example, to a welcome bonus of $200 in points (you need to spend $1,500 in 3 months to get it).
FAQ
How can I get a welcome bonus on the Citi Rewards+ card?
After your application has been approved and you have received the card, you need to spend at least $1,500 within 3 months. After this, you will automatically be awarded the number of points equivalent to $200. These points can be used for full or partial payment of any purchase or order.
How I can earn Citi Rewards+ credit card points?
For most payments, points are earned at the rate of one point per dollar However, when paying with a card at gas stations or grocery stores, the number of points is doubled, and when paying at restaurants, the number of points is multiplied by five. Note that these conditions apply only to the first $6,000 spent per year.
What fees apply to the Citi Rewards+ card?
There is a universal fee for this card, and the bank charges it whenever there is a transaction that leads to a change in the client's account balance. At first, the fee is 3% of the transaction amount, but not less than $5. After 4 months of using the card, the loyal conditions for new clients expire, and the fee increases to 5
What else do I need to know about a Citi Rewards+ credit card?
Technical support for cardholders operates 24/7 (available via phone, e-mail, or chat). The Citi Entertainment program gives access to exclusive entertainment events and premieres. Note that you need a credit score of at least 690 points to get a card.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.