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Have you ever thought about earning rewards while doing your everyday shopping? The Citi Rewards Card could be the right option for you.
This credit card makes it easy to accumulate points, which can be exchanged for trips, products and even gift vouchers.
With a special travel offer and extra points in categories such as supermarkets and gas stations, it’s a great choice. Are you interested and want to know how to apply credit card for yours? Read on to find out!
How does the Citi Rewards Card work?
The Citi Rewards Card works simply: with every purchase you make, you earn ThankYou points. These points can be exchanged for rewards such as travel, products and gift vouchers.
The card’s unique feature is that it rounds up the points to the nearest 10. For example, if you spend US$ 2.31, you will automatically receive 10 points.
It offers 2 points per dollar spent at supermarkets and gas stations, up to US$ 6,000 per year, and 1 point per dollar on all other purchases.
The points are recorded in your account and can be redeemed on the ThankYou portal. To encourage new customers, the card offers a points bonus, as long as you reach a minimum amount of purchases in the first few months.
Main benefits for the Citi Rewards Card
The Citi Rewards Card offers several interesting benefits for those who want to make the most of their purchases. One of the main ones is the ThankYou points program, where you earn points for every purchase you make.
The cool thing about this card is that it rounds the points to the nearest 10. For example, if you spend $2.31, you will earn 10 points, making it easier to accumulate points.
In addition, the card offers 2 points per dollar spent in supermarkets and gas stations, up to US$ 6,000 per year, and 1 point per dollar on all other purchases.
For those starting out, there is also a 20,000 points bonus when you reach a minimum purchase value in the first few months. Points do not expire and there is no limit on the amount you can earn.
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Cons for the Citi Rewards Card
Although the Citi Rewards Card has several advantages, there are also some negative points.
One of them is that after the initial period with 0% interest on purchases and transfers balance, the interest rate can be quite high, ranging from 17.99% to 27.99%, depending on your credit.
In addition, there are fees for balance transfers after the first 4 months, which can vary between 3% and 5%.
Another detail is that, although the card has no annual fee, it charges a 3% fee on purchases made outside the country, which can be a problem for those who travel a lot.
And to earn the points bonus, you need to reach a minimum amount of spending in the first few months, which may not be easy for everyone.
APR and Fees
The Citi Rewards Card offers a 0% interest rate in the first 15 months for purchases and balance transfers, which is great for those who want to avoid interest at the beginning.
However, after this period, the variable interest rate can be between 17.99% and 27.99%, depending on your credit. In addition, the card charges a 3% fee on balance transfers in the first 4 months with a minimum value of $5, and 5% after that period.
If you use the card for international purchases, a 3% fee will be charged on the transaction amount.
How to apply for the Citi Rewards Card
To sign up for the Citi Rewards Card, the process is very simple and can be done online. First, go to the Citi website and click to request the card. If you are already a customer, simply log in with your username and password to speed up the registration.
If you are not yet a customer, you will need to fill in some personal data such as full name, date of birth and Social Security (SSN) or ITIN number, plus contact information such as address, email and phone.
You will also need to report your total annual income and the amount of monthly rent or mortgage payment. If you want to add an authorized user to your card, you can do this during registration.
When you’re done, create a security word that will be used when you contact Citi. Do not forget to review the terms and conditions before completing your application.
