Citi Custom Cash℠ CardSummary List PlacementReview: Is the Citi Custom Cash card the best credit card for you?
There are lots of excellent cash-back credit cards on the market, and they all earn rewards in slightly different ways. Some cards earn a flat rate of cash back on all purchases or extra rewards in fixed categories, and others have rotating bonus categories that change every quarter.
The new Citi Custom Cash℠ Card takes a different approach. Cardholders earn 5% cash back on up to $500 in purchases in the eligible category they spend the most in each billing cycle (then 1%), and 1% on all other purchases.
The categories that qualify include common expenses that should appeal to just about everyone: restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment.
For a card with no annual fee, the Citi Custom Cash℠ Card offers a generous welcome bonus: Citi Custom Cash℠ Card. Because the card earns cash back in the form of Citi ThankYou points, you’ve got flexibility in how you redeem your rewards. Not only can you redeem Citi ThankYou points for cash back, but also for travel booked through Citi, gift cards, merchandise, and — if you also have the Citi Premier® Card or Citi Prestige® Card — transfers to Citi’s airline partners.
The Citi Custom Cash℠ Card is a good choice if you don’t want to keep track of rotating bonus categories, especially if your highest spending category changes from month to month. It’s also worth considering if you already have a lot of rewards credit cards, but are looking for another card to use on purchases — like home improvement stores or fitness clubs — that don’t typically earn a bonus with other cards.
If you’re in the market for a 5% cash back card, the closest competitors to the Citi Custom Cash℠ Card are the Chase Freedom Flex℠ and Discover it® Cash Back, and they’re worth a look as well. These cards earn 5% cash back in categories that rotate every quarter, on up to $1,500 in spending (then 1%) Discover It Cashback rotation.
However, with the Chase Freedom Flex℠ and Discover it® Cash Back, you’ll need to keep track of these categories, and also register for the bonus before you earn bonus cash back. If that sounds like too much of a hassle, the Citi Custom Cash℠ Card is a better choice for you.
Bottom line: The new Citi Custom Cash℠ Card offers a solid welcome bonus and 5% cash back on up to $500 in purchases in your top spending category every billing cycle. There’s no annual fee and you won’t need to keep track of rotating bonus categories, but keep in mind it only earns 1% back outside of your …read more
Source:: Business Insider