Citi CashReturns Card Review: Good Rewards Card

by Millie Kay G. on 2010-06-102

Citi CashReturns? Card

If you use a credit card on a regular basis, you’ll probably appreciate the benefits of a rewards card. Although many such cards abound, sometimes it’s hard to find one that makes it easy for you to enjoy its perks and benefits. One interesting card that you may want to check out is the Citi CashReturns Card, which offers several options for earning cash back. Add it to Citibank’s burgeoning list of card offers which you can review in this comprehensive list.

Citi CashReturns Card Review: Start Earning CitiDollars!

This may be one of the best cash back credit cards available, where you can earn 2% cash back for the first 6 months of use, and 1% cash back thereafter on your purchases in the form of CitiDollars, which show up as a rebate on your statement. This means you can earn CitiDollars for your purchases at grocery stores, the gas station, and the mall, among other places. It’s another way of having you earn rewards through popular spending channels.

Here’s something that stands out with this card. You can earn cash back on balance transfers and cash advances. You can earn 1% cash back on cash advances and cash convenience checks if they’re billed at the standard rate for cash advances. In addition, when you have a balance transfer of $1,500 or more, you can earn 5 CitiDollars. For those who are carrying an existing credit card balance, if you’re interested in checking out a new balance transfer card, then why not consider one that gives you a little something extra for doing the move?

Another way to earn cash back is through shopping at the Citi Bonus Cash Center (the fancy name that Citibank gives its online shopping mall, one of several that it has…. 🙂 ) where it’s possible to earn up to 5% cash back. Since the Citi Bonus Cash Center has over 400 retailers, you should be able to find plenty of ways to gain cash back. You can find special offers from Marriott, Land’s End, Verizon, and other popular retailers.

Redeeming Your CitiDollars

So how do you get your cash back? The good news is that you don’t have to worry about racking up a million points before you can get anything out of the program. Whenever you’ve accumulated $50 in CitiDollars, Citi automatically sends you a check for the cash back amount. That’s right, you don’t have to nag customer service or fill out a dozen forms to claim your rewards. Just check your statement each month to see how much you’ve earned in CitiDollars.

Unlike some rewards cards, this card doesn’t have an annual fee. Also, you aren’t limited to how much cash back you can earn and your CitiDollars shouldn’t expire on you.

Great Terms: 0% Intro APR for Balance Transfers for Up To 18 Months

Another great benefit is the 0% intro APR for balance transfers for up to 18 months based on your credit standing and history. You’ll still be on the hook for balance transfer fees, though. Like many other cards out there, the balance transfer fee is 3% of your balance transfer amount, with a minimum of $5.

The APR for purchases is tiered and ranges from 12.99% to 16.99% to 20.99%, depending on your application and credit history. For cash advances, the APR is a much higher 25.24% variable, as you’d expect. Plus there’s a cash advance fee of 3% of the transaction amount, with a minimum of $5. You’ll find out how your credit limit is set, once you receive your card.

No as far as late fees go, they are comparable to those of other Citi credit cards. Looks like these are standard charges for Citibank: you’ll pay $15 for balances up to $100, while late fees are higher for those who carry larger balances (e.g. balances of $100 to $250 will yield a $29 late fee; balances of $250 and over will trigger a $39 late fee).

One thing to watch out for with this card is the default APR of 29.99%, which kicks in for any customer who performs a transgression. So if you’re late with a payment, go over your credit limit, or your payment’s returned, you could get penalized with a high APR. This just reinforces the importance of making sure you pay your credit card bills on time and of keeping your account in good standing.

Here are more details on 0% introductory APR credit card offers that are available today. Find out more in our 0% intro APR credit card page.

ID Theft Protection & Other Benefits

In addition to your cash rewards, you can look forward to identity theft protection benefits and $0 liability if you’re the victim of unauthorized purchases. Plus, you can manage your account online on your schedule.

To sign up, you’ll need to be 18 or over and have a valid Social Security Number. Be prepared to disclose information like your date of birth and employer’s phone number, too.

A credit card like the Citi Cash Returns Card offers different ways to get cash back — without having to run an extra mile for it. So if you’re looking for a new rewards card, check out this one to see if it matches your needs.

Copyright © 2010 The Digerati Life. All Rights Reserved.

{ 2 comments… read them below or add one }

Lewis G. June 13, 2010 at 7:40 am

I love getting a good deal – and credit card rewards rank right up there. One of my cards recently sent me a letter stating they are reducing the reward percentage…time for a new card with better rewards.

ConsumerMiser June 13, 2010 at 2:33 pm

This card looks pretty reasonable with some good cash back perks.

What I really like is the 0% APR for Balance Transfers for Up To 18 Months. The balance transfer fee of 3% of your balance transfer amount is par for the course these days. I have seen some ads for cards with 5% balance transfer feeds! Too bad there is no maximum transfer fee amount (a minimum of $5).

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