Citi Custom Cash℠ Credit Card Review

As a financial expert with years of experience in personal finance and credit management, I’ve had the privilege of reviewing and using a multitude of credit cards. Today, I’m diving deep into the Citi Custom Cash℠ Credit Card. With its enticing 5% cash back on your highest eligible spend category each billing cycle and a 0% introductory APR for 15 months, this card promises a lot. But does it deliver? Let’s explore this card in detail to help you make an informed decision.

Citi Custom Cash℠ Credit Card Review

The Citi Custom Cash℠ Credit Card is designed with flexibility and rewards in mind. It stands out in the crowded marketplace for its unique approach to cash back rewards. Instead of locking you into specific categories, this card adapts to your spending habits, offering 5% cash back on your highest eligible spend category each billing cycle, up to the first $500 spent, and 1% cash back thereafter. Additionally, it provides 1% cash back on all other purchases.

Key Features:

1. 5% Cash Back on Highest Spend Category: Each billing cycle, you earn 5% cash back on your highest eligible spend category up to $500, which can significantly add up over time.
2. 1% Cash Back on Other Purchases: For all other purchases, you earn a steady 1% cash back.
3. Introductory Offer: Earn $200 cash back after spending $1,500 on purchases in the first 3 months of account opening.
4. 0% Introductory APR: Enjoy 0% Introductory APR for 15 months on purchases and balance transfers, making it a great option for managing large expenses or consolidating debt.
5. Variable APR: After the introductory period, the APR ranges from 19.24% to 29.24%, based on your creditworthiness.
6. No Annual Fee: This card comes with no annual fee, making it a cost-effective choice for many consumers.
7. Fraud Protection: Comprehensive fraud protection features to keep your transactions secure.

Citi Custom Cash℠ Key Takeaways

– Adaptive Cash Back: The standout feature of this card is its ability to adapt to your spending habits, offering 5% cash back on your highest eligible spend category each billing cycle, up to $500 spent.
– Generous Introductory Offer: Earning $200 cash back after spending $1,500 in the first 3 months is a compelling incentive.
– 0% Intro APR: The 0% introductory APR for 15 months on purchases and balance transfers is ideal for those looking to save on interest.
– No Annual Fee: The absence of an annual fee is a significant advantage, making this card accessible to a wide range of consumers.
– Variable APR: The variable APR can be high, ranging from 19.24% to 29.24%, so it’s essential to pay off balances to avoid high interest charges.

Citi Custom Cash℠ Pros and Cons

Pros

1. 0% Introductory APR: The 15-month 0% introductory APR on both purchases and balance transfers is excellent for those who want to manage larger purchases or consolidate existing credit card debt without incurring immediate interest charges.
2. 5% Cash Back on Highest-Spending Category: The flexibility to earn 5% cash back on your highest eligible spend category each billing cycle up to $500 is unique and potentially very lucrative.
3. No Annual Fee: This card has no annual fee, making it cost-effective for the long term.
4. $200 Sign-Up Bonus: The $200 cash back after spending $1,500 in the first three months is a generous welcome offer.
5. Flexibility in Redeeming Rewards: Citi offers various ways to redeem your rewards, including statement credits, direct deposit, checks, and gift cards.

Cons

1. 5% Cash Back is Limited: The 5% cash back is capped at $500 per billing cycle, after which you earn 1% cash back. This cap can limit the total rewards for big spenders.
2. Foreign Transaction Fee: This card charges a foreign transaction fee, making it less ideal for international travel.
3. Good to Excellent Credit Score Required: You need a good to excellent credit score (670-799) to qualify, which may exclude some applicants.

Citi Custom Cash℠ Benefits

The Citi Custom Cash℠ Credit Card offers a range of benefits designed to enhance the user experience and provide peace of mind. Here are some of the key benefits:

Cash Back Rewards

– 5% Cash Back on Highest Spend Category: Earn 5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent. This includes categories such as restaurants, gas stations, grocery stores, select travel, transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment.
– 1% Cash Back on Other Purchases: For all other purchases, you earn 1% cash back. This ensures you’re always earning rewards, no matter what you’re buying.

Introductory Offers

– $200 Cash Back: Earn $200 cash back after spending $1,500 on purchases in the first 3 months of account opening.
– 0% Introductory APR: Enjoy 0% Introductory APR for 15 months on purchases and balance transfers, providing a valuable window to pay off balances without accruing interest.

Security and Protection

– Fraud Protection: Citi’s comprehensive fraud protection ensures that your transactions are monitored for unusual activity, and you’re not held responsible for unauthorized charges.
– Purchase Protection: Purchases made with the Citi Custom Cash℠ Credit Card are covered against damage or theft within a certain period.
– Extended Warranty: This benefit extends the manufacturer’s warranty on eligible purchases made with the card, providing added peace of mind.

Convenience and Flexibility

– No Annual Fee: There’s no annual fee, which means you can enjoy all the benefits without any ongoing cost.
– Flexible Redemption Options: Redeem your cash back rewards for statement credits, direct deposits, checks, or gift cards. This flexibility allows you to use your rewards in the way that best suits your needs.
– Digital Wallet Integration: Add your Citi Custom Cash℠ Credit Card to your digital wallet for easy and secure payments using your mobile device.

Conclusion

The Citi Custom Cash℠ Credit Card offers a compelling mix of flexibility, rewards, and cost-saving features. Its unique approach to cash back rewards, offering 5% on your highest eligible spend category each billing cycle, sets it apart from many competitors. The generous introductory offers, including $200 cash back and a 0% introductory APR for 15 months, add significant value, especially for those looking to make large purchases or manage existing debt.
However, it’s essential to consider the limitations, such as the 5% cash back cap and foreign transaction fees. Additionally, the requirement for a good to excellent credit score means it may not be accessible to everyone.
Overall, the Citi Custom Cash℠ Credit Card is an excellent choice for those with good to excellent credit who want a versatile, no-annual-fee card that adapts to their spending habits and offers substantial cash back rewards. Its blend of benefits and features makes it a valuable addition to any wallet.
By understanding the card’s features, benefits, and potential drawbacks, you can make an informed decision that aligns with your financial goals and spending habits. If you’re looking for a flexible, high-earning cash back card with no annual fee, the Citi Custom Cash℠ Credit Card is certainly worth considering.