Citi Customized Money Credit score Card Overview

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Fast Take: The Citi Customized Money bank card was developed for these trying to earn essentially the most money again attainable — as shortly as attainable. Whereas customers will earn 1% on all purchases, some purchases will include money again as much as 5%. The cardboard has a aggressive rate of interest and payment construction, providing financial savings as a aggressive benefit.

  • Curiosity and Charges

  • Incomes Rewards

  • Signal-Up Bonus

  • Intro APR

How did we calculate this?

Execs

  • Earn money shortly
  • Aggressive rate of interest
  • Stability switch APR
  • Promotional bonus

Cons

  • Accessibility
  • Low money again on almost all classes
  • Incentivized spending
  • No buy safety

Citi Customized Money Credit score Card Overview

The Citi Customized Money card is a compelling supply designed for essentially the most accountable debtors. In alternate for his or her confirmed borrowing accountability, those that get permitted for the cardboard get pleasure from aggressive rates of interest and no annual payment coupled with the power to earn as much as 5% money again and a compelling new-user bonus. 

Candidates who enroll earlier than the promotion expires will get pleasure from a 0% introductory annual share charge on purchases and steadiness transfers in addition to $200 money again once they spend $750 on purchases within the first three months. These trying to entry that bonus ought to remember the fact that the $750 have to be on purchases; steadiness transfers and money advances don’t rely towards the promotion.  

The cardboard’s 0% introductory APR makes it an interesting choice for these trying to switch balances. Nevertheless, there are some drawbacks to think about.

Whereas the primary draw for customers is the power to earn money shortly, the 5% cashback charge is just on the cardholder’s highest spend class. All different purchases will earn money on the 1% charge, which is pretty low. Furthermore, stiff necessities set the stage for restricted entry.

Citi Customized Money Key Options

A number of the most compelling options of the Citi Customized Money card embrace:

Curiosity and Charges

The bank card comes with an inexpensive curiosity and payment schedule. See the chart under:

Charge Citi Customized Money Common Cashback Card
Curiosity Price 0% for 15 months, then 14.24% to 24.24% 14.82% to 22.81%
Stability Switch Price  0% for 15 months, then 14.24% to 24.24% 13.67% to 22.88%
Money Advance Curiosity Price 25.49% 24.8%
Penalty Curiosity Price 29.99% 29.99%
Minimal Curiosity Cost  $0.50 $0.50 to $2.00
Annual Charge $0 $110 (for playing cards with charges)
Stability Switch  $5 or 5%, whichever is larger 3% to five%
Money Advance  $10 or 5%, whichever is larger 2% to eight%
International Transaction  3% 2% to three%
Late Cost  $40 $36
Returned Cost  $40 $34

Incomes Rewards

Incomes money again on the Citi Customized Money card is comparatively easy and, relying on how the cardholder makes use of the cardboard, it could occur shortly. Cardholders will get 5% money again on the very best spend class, as much as $25 on $500 spent, however there’s one downside. 

All purchases outdoors the cardholder’s highest spend class will earn rewards at a charge of 1%, which is comparatively low in comparison with different playing cards designed for wonderful credit score customers. Furthermore, after the primary $500 spent throughout any billing cycle on the very best spend class, even that class will earn simply 1%. 

Signal-Up Bonus

The sign-up bonus is a robust draw for a lot of customers. Those that spend $750 of their first three months will obtain a $200 bonus. Nevertheless, when evaluating choices, customers with wonderful credit score scores will simply discover bigger bonuses. For instance:

  • Capital One Savor Card presents a $300 sign-up bonus when customers spend $3,000 of their first three months.
  • Blue Money Most popular Card from American Specific presents a $300 sign-up bonus when customers spend $3,000 on the cardboard within the first six months.
  • Uncover It matches money again on an infinite foundation for the primary 12 months.

Nonetheless, not all cashback bank cards supply sign-up bonuses, and the $200 provided with the Citi Customized Money card is nothing to shake a stick at.

Intro APR

New cardholders will get pleasure from an introductory APR of 0% on purchases and steadiness transfers for 15 months. 

Candidates ought to keep in mind that whereas the introductory APR is 0%, they are going to be charged a steadiness switch payment of both $5 or 5% of the switch quantity — whichever is larger. Nevertheless, these extra charges are commonplace with steadiness switch bank cards. 

Extra Options

Citi Customized Money cardholders additionally get pleasure from the next benefits to proudly owning the cardboard:

Buyer Service

Anytime somebody chooses to work with a monetary service, the extent of customer support the corporate is thought for offering needs to be taken under consideration. In spite of everything, no person needs to name a lender with a query and discover that both no person’s there to reply the decision or the individuals answering aren’t educated sufficient to reply the query. 

As a premier lender, Citi presents one of many highest-quality customer support groups obtainable with any bank card firm. The staff is offered day or evening, weekends and holidays, by way of various contact strategies. 

Furthermore, the employees at Citi is extremely educated and educated, so they need to have the ability to reply cardholder questions shortly and clearly. 

Cashback Redemption Choices

Completely different cashback bank cards will supply totally different redemption choices. Within the case of the Citi Customized Money card, there are three choices: direct deposit to a checking account, a press release credit score or a test.

Product Change Capabilities

Citi permits cardholders to interchange merchandise based mostly on creditworthiness. Subsequently, cardholders who’ve been permitted for the Customized Money card and determine the cardboard isn’t fairly what they’re searching for are sometimes in a position to improve or downgrade to a special Citi product. 

Who Citi Customized Money Card Is Finest For

There’s no such factor as a one-size-fits-all monetary supply, and the Citi Customized Money card isn’t any exception to the rule. Contemplating the advantages and disadvantages of the bank card, the prime candidates would have the next traits:

  • Good to Glorious Credit score. For candidates to be permitted, they should have a great to wonderful credit score rating. These on the low finish of the great rating nonetheless may need issue getting permitted relying on different components like their debt-to-income ratio. Furthermore, these with dangerous or truthful credit score is not going to be permitted.
  • A Robust Sense of Self-Management. When incomes money again for spending, it’s straightforward for customers to get so wrapped up in incomes cash that they don’t notice how a lot they’re spending. Solely customers with a robust sense of self-control ought to contemplate signing up for a bank card that incentivizes spending.
  • Robust Budgeting Expertise. To keep away from racking up excessive ranges of debt, cardholders have to have sturdy budgeting abilities. 
  • In Want of a Stability Switch. Lastly, as a result of 0% steadiness switch intro charge, these with excessive interest-rate balances are good candidates for the cardboard.

Takeaway

The Citi Customized Money card is a compelling supply for these trying to earn money again on purchases in classes the place they spend essentially the most cash or for these excited by transferring high-interest balances to a zero-interest bank card.

Alternate options to the Citi Customized Money Card

There are a number of alternate options to the Citi Customized Money card. A number of the most compelling presents embrace:

Wells Fargo Energetic Money

Cardholders can earn a $200 introductory bonus plus limitless 2% money again on all purchases. Their card comes with no annual payment, and the rate of interest is aggressive.

The Wells Fargo Energetic Money card additionally comes with a 0% introductory rate of interest on purchases and steadiness transfers for 15 months.

Cardholders additionally get pleasure from different perks reminiscent of cellular phone safety once they pay their payments utilizing the cardboard, contactless fee and no limits to the variety of rewards they will earn.

There are 4 methods cardholders can redeem their earned money:

  • Get money on the ATM
  • Use for purchases  
  • Get present playing cards  
  • Ship money to a qualifying Wells Fargo checking, financial savings or bank card account. 

Chase Freedom

Cardholders can earn a $300 introductory bonus plus 5% money again at gasoline stations, 3% on eating and drugstores and 1.5% money again on all different purchases. The cashback rewards earned by no means expire.  

The cardboard additionally comes with a aggressive rate of interest and a 0% promotional charge on purchases and steadiness transfers for 15 months, and cardholders received’t be charged an annual payment.

Financial institution of America Limitless Money Rewards

Cardholders can earn a $200 introductory bonus plus 1.5% limitless money again on all purchases. The bank card additionally comes with a aggressive rate of interest and a 0% promotional charge for 15 months on purchases and steadiness transfers.

Cardholders don’t have any limits to the amount of money they will earn, and the earned rewards won’t ever expire.

The cardboard additionally offers cardholders a number of extra perks, reminiscent of entry to their FICO scores, on-line and cell banking, paperless statements, contactless funds and digital pockets expertise.

Editorial Word: This content material shouldn’t be supplied by Citi. Any opinions, analyses, critiques or suggestions expressed on this article are these of the writer alone and haven’t been reviewed, permitted or in any other case endorsed by Citi.

FAQ

Listed below are the solutions to among the most often requested questions on Citi Customized Money Card.

  • How exhausting is it to get a Citi Customized Money Card?
    • Attributable to the truth that the cardboard requires candidates to have a great to wonderful credit score rating, it’s comparatively troublesome to get a Citi Customized Money card. Nevertheless, these with good-to-excellent credit score will discover the method of making use of and being permitted comparatively easy.
  • Is the Citi Customized Money Card price it?
    • This largely depends upon what the cardholder is searching for in a bank card. If the cardholder is excited by incomes money, a number of redemption choices and a high quality help staff, the Citi Customized Money card is certainly well worth the time spent filling out an software.
  • Is the Citi Customized Money Card a bank card?
    • Sure, the Citi Customized Money card is a bank card.
  • Is the Citi Customized Money Card metallic?
    • Whereas the Citi Customized Money card might seem like metallic in footage on-line, like most cashback playing cards, it’s fabricated from plastic.
  • Does Citi Customized Money have buy safety?
    • The Citi Customized Money card doesn’t have buy safety.
  • Does Citi Customized Money earn ThankYou Factors?
    • The money again provided by way of the Citi Customized Money card is tracked utilizing ThankYou factors, with every ThankYou level changing to a worth of $0.01.

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