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If you’re in the market for a new credit card that offers impressive rewards, then the Citi Rewards+ Credit Card might just be what you’re looking for. With its enticing rewards and user-friendly features, this card is designed to make everyday spending more rewarding.
In this Citi Rewards+ Credit Card review, we’ll dive into what makes the card stand out, from its generous points system to its versatile redemption options.
Whether you’re a frequent traveler or just looking to maximize your everyday purchases, the Citi Rewards+ Credit Card could be a valuable addition to your wallet. So, let’s explore how this card stacks up and whether it’s the right fit for your financial lifestyle.
Features of the Citi Rewards Plus Credit Card
The Citi Rewards+ Credit Card comes with a range of features that can offer you peace of mind. For starters, if you ever lose your card, or it gets stolen, you can quickly lock it through Citi® Quick Lock. This feature lets you put a hold on your card instantly, reducing the risk of unauthorized charges.
Once you’ve had your account for 30 days, you’ll also get free access to your FICO score as a Citi Rewards+ Card member. This can help you keep track of your credit health and manage your finances more effectively.
Moreover, your card is equipped with EMV Chip technology, which provides enhanced security. This means that when you use your card at merchants with chip-enabled terminals, your transactions are better protected against fraud.
Another of its standout features is its compatibility with digital wallets. This allows you to shop with confidence across millions of online sites, apps, and physical stores. Digital wallets speed up the checkout process and offer robust protection for your card information.
For an even quicker checkout experience, the Citi Rewards+ Card also supports contactless payments. With its contactless chip, you simply tap your card on the payment reader, and you’re done in seconds. This is not only fast but also secure.
Pros and Cons of the Citi Rewards+ Credit Card
Alt text: Woman looks worried at the laptop screen while holding several cards in her hand.
So, what are the advantages and disadvantages of the Citi Rewards+ Credit Card? Let’s explore:
Benefits
Here are the benefits:
- 24/7 Customer Service: Support is available around the clock, so help is always just a call away whenever you need it.
- Exclusive Access to Citi Entertainment®: Enjoy special access to purchase tickets for thousands of events, including presale tickets and exclusive experiences for sporting events, top concerts, dining outings, and more.
Cons
Here are the potential downsides of Citi Rewards+ Card:
- Credit Limit Notification: Your credit limit will be communicated when you receive your card, with some limits starting at $1,000.
- Cash Advance Limitations: Cash advances may be restricted to a portion of your overall credit limit.
Rates and Fees
When you open a new Citi Rewards+ Card, you’ll enjoy an introductory 0% APR on both purchases and balance transfers for the first 15 months. This offer applies to balance transfers completed within the first 4 months of opening your account.
Once this introductory period ends, a variable APR ranging from 18.74% to 28.74% will apply based on your creditworthiness. This rate will affect any unpaid promotional balances, new purchases, and new balance transfers.
If you opt for Citi Flex Plans, they will also have a variable APR between 18.74% and 28.74%, depending on your credit situation. For Citi Flex Pay Plans, which might include a Plan Fee, a monthly fee of up to 1.72% could be applied.
This fee is calculated based on the duration of the Citi Flex Plan, the APR that would typically apply to the transaction, and other contributing factors.
The amount of the fee may vary depending on the specific terms of the plan chosen, reflecting the combination of these elements. Therefore, it’s crucial to consider all these aspects when opting for a Citi Flex Pay Plan.
Cash advances come with a higher variable APR of 29.99%, while a variable penalty APR of up to 29.99% may apply if you miss a payment or if a payment is returned. The minimum interest charge is $0.50.
There’s no annual fee for this card, but there’s a Citi Rewards+ Card foreign transaction fee of 3% of each purchase made in US dollars. Cash advances incur a fee of either $10 or 5% of the amount of each advance, whichever is greater.
For balance transfers, there is an introductory fee of 3% (with a $5 minimum) for transfers made within the first 4 months, and after that, the fee increases to 5% (also with a $5 minimum).
Penalty fees include up to $41 for late payments and up to $41 for returned payments.
Eligibility Criteria and Requirements
To apply for the Citi Rewards+ Card, you need to be a US resident at least 18 years old, or 21 if you live in Puerto Rico. If you’re married, you have the option to apply for a separate account. Your final eligibility for the card will be determined by Citibank.
How to Apply for the Citi Rewards+ Credit Card?
To apply for the Citi Rewards+ Card, visit the website and click “Apply Now”. You’ll need to provide your personal details, including your first name, last name, Social Security Number or ITIN, and date of birth. Indicate whether you’re a U.S. citizen.
Next, enter your address, including any additional address details and a P.O. Box if needed. Provide at least one phone number (mobile required) and your email address.
For financial information, state if any of your income is exempt from U.S. federal tax, and list your total annual income and monthly mortgage or rent payment.
You can also add an authorized user if you wish. Create a security word for future reference and agree to the terms and conditions before submitting your application. You’ll receive an immediate response, but the full application review process may take up to four weeks.
Conclusion
The Citi Rewards+ Credit Card presents a compelling option for anyone seeking to maximize the value of their everyday spending. With its attractive rewards structure, including the ability to earn points on a variety of purchases and redeem them flexibly, this card offers significant benefits.
Whether you’re a frequent traveler or simply looking to get more out of your daily expenses, the Citi Rewards+ Credit Card could be a valuable addition to your financial toolkit.
As with any credit card, it’s important to review all terms and conditions and consider your spending habits to ensure that this card aligns with your financial goals.
