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The Citi Customized Money® Card is a well-liked no-annual-fee bank card with an uncomplicated however helpful rewards program. It’s an amazing choice for individuals on the lookout for a easy strategy to earn money again constantly with out coping with rotating bonus classes.
However in the event you’re on the lookout for the one excellent bank card that helps you earn as a lot money again as doable on all your on a regular basis spending, the Customized Money Card might not get the job performed.
Right here’s when the Citi Customized Money Card could also be the very best money again bank card for you and when you need to think about different playing cards.
When is the Citi Customized Money Card price it?
For many, the very best half concerning the Citi Customized Money Card might be its profitable and versatile rewards construction.
Relying in your spending habits and the cardboard options that matter most to you, there are a number of extra perks that can enhance the cardboard’s worth. Right here’s a have a look at when it is sensible to hold the Citi Customized Money Card:
While you need to maintain issues easy
The Customized Money Card’s rewards program is simple to make use of. You routinely earn 5 p.c within the eligible class you spend probably the most in every billing cycle (as much as $500 spent per billing cycle, then 1 p.c).
The eligible classes embrace loads of on a regular basis spending classes, together with:
- Grocery shops
- Fuel stations
- Eating places
- Health golf equipment
- Choose streaming providers
- Dwelling enchancment shops
- Drugstores
- Dwell leisure
And if you wish to plan a trip, your high spend class can be associated to journey and choose transit purchases. The very best half is that you simply don’t need to enroll in any classes — and if the Customized Money Card is your solely bank card, you received’t need to spend vitality remembering which bank card to make use of for each buy.
This might be particularly interesting to anybody who desires to keep away from bank cards with rotating bonus classes. These bonus spending classes are picked by the cardboard issuer and usually are solely provided on a quarterly foundation. Most of those playing cards additionally require enrollment within the bonus classes every quarter, which is usually a trouble for individuals who need to earn rewards with out leaping via so many hoops.
In comparison with the very best flat-rate bank cards, the Customized Money Card packs extra worth in the event you don’t spend some huge cash. Individuals who can max out the $500 spending restrict within the 5 p.c class will earn $25 every billing cycle. In case you used a 2 p.c money again flat-rate card, you would wish to spend $1,250 to earn the identical $25 quantity. For that reason, individuals on a finances on the lookout for a set-it-and-forget-it card can squeeze extra worth out of the Customized Money Card.
While you desire a bank card with good short-term worth
Eligible new cardholders can benefit from two short-term perks: a welcome bonus and a protracted introductory annual proportion charge (APR) supply on purchases and steadiness transfers. Listed here are the small print for each:
- Welcome bonus: Get 20,000 ThankYou factors, price $200 in money again, after spending $1,500 within the first six months. It’s a quick strategy to earn money again that received’t break most budgets, because you solely must spend $250 a month to hit the goal purpose.
- Introductory APR supply: Benefit from a 0 p.c intro APR for 15 months on each purchases and steadiness transfers, adopted by a variable APR of 19.24 p.c to 29.24 p.c as soon as the introductory interval ends. This isn’t the longest introductory supply on the market, however playing cards with longer affords usually don’t earn excessive rewards like 5 p.c money again.
With out the welcome bonus, it could take eight months and $4,000 in purchases to earn $200 in the event you solely used the bank card for purchases that usually qualify for the 5 p.c money again class. That’s why a welcome bonus is a pleasant incentive for accountable customers who need to maximize their bank card rewards.
A bank card with a 0 p.c intro APR interval can also be a helpful addition to your pockets. You should utilize it to pay down card debt quicker, in addition to to make giant purchases and pay them down over time with out accruing curiosity.
While you plan to pair it with different bank cards
Individuals who have a tendency to hold a number of bank cards and don’t thoughts strategizing methods to get as a lot worth as doable out of each card will benefit from the Customized Money Card. Because you solely earn 5 p.c money again in a single bonus class (on as much as $500 per billing cycle, then 1 p.c) and 1 p.c on all different purchases, you need to use the Customized Money Card for purchases that fall into one of many card’s eligible spend classes. Another purchases must be placed on one other rewards card.
In reality, for the reason that Citi Customized Money technically earns ThankYou factors, redeemable for money again, it’s pair with the Citi Strata Premier℠ Card, which additionally earns ThankYou factors and lets you switch them to the Citi’s switch companions.
When is the Citi Customized Money Card not price it?
The Citi Customized Money Card has loads to supply, but it surely does have some drawbacks. Listed here are some instances it’s possible you’ll need to search for a distinct money again bank card:
While you desire a standalone bank card that earns probably the most rewards
Because you’re restricted to just one bonus class with a $500 spending cap every billing cycle (then 1 p.c), the Customized Money Card isn’t normally your best option for a one-card pockets, particularly in case your precedence is incomes rewards.
Rewards-seekers on the lookout for the very best worth might need to attempt a money again card with a number of bonus classes that match their spending habits. Top-of-the-line alternate options to the Citi Customized Money Card is the U.S. Financial institution Money+® Visa Signature® Card*. As a substitute of only one bonus class, the U.S. Financial institution Money+ card earns:
- 5 p.c money again in your two eligible chosen classes on as much as $2,000 in mixed purchases per quarter, then 1 p.c
- 5 p.c money again on pay as you go air, lodge and automobile reservations via the U.S. Financial institution Rewards Middle
- 2 p.c money again on all purchases in a single eligible on a regular basis spending class of your alternative
- 1 p.c money again on all different purchases
With the U.S. Financial institution Money+ Card, nonetheless, you must enroll within the customized classes every quarter. In case you don’t, you’ll earn just one p.c on these purchases. It’ll take a little bit extra work to make use of in comparison with the Citi Customized Money, but it surely may very well be price it because it affords extra possibilities to earn excessive rewards.
While you need to lower your expenses with a steadiness switch
The Citi Customized Money Card can be utilized for paying down money owed with a steadiness switch — but it surely won’t be your most cost-effective choice.
The Customized Money Card costs 5 p.c or $5 (whichever is increased) for every steadiness switch you carry out. In case you’re attempting to switch over loads of debt, you would possibly lower your expenses by wanting elsewhere for both a smaller steadiness switch charge or an extended introductory APR interval. A number of the greatest steadiness switch bank cards solely cost a 3 p.c steadiness switch charge — and even no charge in any respect.
Must you get the Citi Customized Money?
For many individuals, the Customized Money Card might be a transparent winner. There aren’t loads of bank cards that allow you to decide the class that earns 5 p.c again, so individuals who spend loads in bonus areas not usually coated by rewards playing cards will love the liberty to routinely have their class to earn excessive rewards decided by their spending.
Simply do not forget that the Citi Customized Money routinely picks your high spend class based mostly in your purchases (with no enrollment), so attempt to take heed to what you utilize the cardboard for. In case you’re aiming for stay leisure to be your high class, for instance, be sure you use the Citi Customized Money for all of these purchases (no less than till you hit the $500 spending cap).
However the Customized Money Card doesn’t normally make standalone bank card, particularly for individuals who spend extra in all kinds of classes and would have hassle spending $500 a month in a single class. If you wish to earn as a lot money again as doable, you’ll must pair the Customized Money Card with different rewards playing cards or search for a greater standalone card.
The underside line
The Citi Customized Money fits most reasonable spenders who can maintain their bills at round $500 every month. Nonetheless, in the event you can simply spend greater than $500 in a month, think about pairing this card with one other rewards card or buying round for a distinct high-earning money again card.
For extra data on the cardboard, think about studying our Citi Customized Money advantages information — together with our piece on maximize the cardboard for journey.
*Details about the U.S. Financial institution Money+® Visa Signature® Card has been collected independently by Bankrate. The cardboard particulars haven’t been reviewed or authorized by the issuer.
