Citi CashReturns MasterCard Credit Card Review

Citi CashReturns MasterCard is an attractive credit card designed to offer a cash-back rewards program and is also a good alternative for balance transfers.Citi CashReturns MasterCard

Who Benefits Most from Citi CashReturns MasterCard?

Citi CashReturns MasterCard is most beneficial to;

  • Those who want to earn cash rewards on their credit card spending
  • For people who are looking for a low-cost balance transfer option.

What Credit Rating isRequired?

  • Excellent (740+)
  • Good (700-739)
  • Fair (660-699)

Card Benefits

  • Get instant rewards redemption by check
  • There’s full 1% cash back on purchases.
  • (if you qualify), there’s long Introductory 0% APR period on balance transfers.
  • Earn rewards on cash advances and balance transfers.

Downsides of Citi CashReturns Card

Like some other cash returns card, the Citi CashReturns MasterCard also has a downside to it. The most significant downside of this card is its high redemption threshold.

Rewards that Rewards you

  • Earn rewards on balance transfers
  • Take advantage of the 5% cash back “on average” on purchases via Citi Bonus Cash Center.
  • Offers 2% cash back on purchases for the first six months, thereafter 1% cash back

What Rates Apply?

  • Cash Advances – 25.24%
  • Default Rate – 29.99%
  • Balance Transfers – 0% for 7-18 months, based on your credit rating.
  • Purchase – 25.24%.

What Fees Should I Expect?

  • Overlimit Fee – $39
  • Annual Fee – None
  • Late Payment Fee – $15 to $39
  • Balance Transfer and Cash Advance Fee – 3% of the amount.

Citi CashReturns MasterCard Review

The Citi CashReturns MasterCard is adjudged to be a good cash back rewards card. This implies that it works just as well if not better than a balance-transfer card.

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Those with good credit just may qualify for a 0% balance transfer rate for as long as 18 months – or 12 to seven months for those with weaker credit. The balance transfer fee stands at 3% which is said to be one of the lowest around. You also earn five “CitiDollars” on all balance transfers over $1,500.

Using your card for purchases, earns you 2% cash back for the first six months, thereafter 1% after that. You can also earn 5% “on average” if you shop via Citi’s Bonus Cash Center, which the bank says has more than 400 merchants.

The cash back rewards come with both good points and bad points. Citi instantly mails you a check once you hit the $50 rewards threshold.

Citi CashReturns MasterCard also rewards you with the full reward on cash advances. You are advised against that. This is because the cash advance fee is 3%, and the APR is over 25%, thus any reward you rack up won’t make it up.

Final Thoughts

Even though the Citi CashReturns MasterCard works well for both balance transfers and earning rewards, you are advised against using it for both just choose one or the other. Better still, transfer your balance for as long as you can, pay it off, thereafter start earning cash back rewards on purchases.

Make a choice that helps your card reward you with an attractive cash-back rewards program.

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