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The Citi Customized Money® Card is a well-liked no-annual-fee bank card with an uncomplicated however precious rewards program. It’s an ideal choice for individuals searching for a easy strategy to earn money again constantly with out coping with rotating bonus classes.
However when you’re searching for the one good bank card that helps you earn as a lot money again as attainable on your whole on a regular basis spending, the Customized Money Card might not get the job carried out.
Right here’s when the Citi Customized Money Card could also be the most effective money again bank card for you and when you need to take into account different playing cards.
When is the Citi Customized Money Card value it?
For many, the most effective 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 just a few extra perks that may enhance the cardboard’s worth. Right here’s a take a look at when it is smart to hold the Citi Customized Money Card:
Once you wish to hold issues easy
The Customized Money Card’s rewards program is simple to make use of. You mechanically earn 5 % within the eligible class you spend probably the most in every billing cycle (as much as $500 spent per billing cycle, then 1 %).
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 companies
- Residence enchancment shops
- Drugstores
- Dwell leisure
And if you wish to plan a trip, your high spend class will also be associated to journey and choose transit purchases. One of the best half is that you just don’t need to enroll in any classes — and if the Customized Money Card is your solely bank card, you gained’t need to spend power remembering which bank card to make use of for each buy.
This might be particularly interesting to anybody who needs to keep away from bank cards with rotating bonus classes. These bonus spending classes are picked by the cardboard issuer and sometimes are solely supplied on a quarterly foundation. Most of those playing cards additionally require enrollment within the bonus classes every quarter, which generally is a problem for individuals who wish to earn rewards with out leaping by way of so many hoops.
In comparison with the most effective flat-rate bank cards, the Customized Money Card packs extra worth when you don’t spend some huge cash. Individuals who can max out the $500 spending restrict within the 5 % class will earn $25 every billing cycle. For those who used a 2 % money again flat-rate card, you would wish to spend $1,250 to earn the identical $25 quantity. Because of this, individuals on a finances searching for a set-it-and-forget-it card can squeeze extra worth out of the Customized Money Card.
Once you need a bank card with good short-term worth
Eligible new cardholders can benefit from two short-term perks: a welcome bonus and an extended introductory annual share fee (APR) supply on purchases and steadiness transfers. Listed here are the small print for each:
- Welcome bonus: Get 20,000 ThankYou factors, value $200 in money again, after spending $1,500 within the first six months. It’s a quick strategy to earn money again that gained’t break most budgets, because you solely have to spend $250 a month to hit the goal purpose.
- Introductory APR supply: Reap the benefits of a 0 % intro APR for 15 months on each purchases and steadiness transfers, adopted by a variable APR of 19.24 % to 29.24 % as soon as the introductory interval ends. This isn’t the longest introductory supply on the market, however playing cards with longer provides sometimes don’t earn excessive rewards like 5 % money again.
With out the welcome bonus, it will take eight months and $4,000 in purchases to earn $200 when you solely used the bank card for purchases that usually qualify for the 5 % money again class. That’s why a welcome bonus is a pleasant incentive for accountable customers who wish to maximize their bank card rewards.
A bank card with a 0 % intro APR interval can also be a precious addition to your pockets. You need to use it to pay down card debt quicker, in addition to to make massive purchases and pay them down over time with out accruing curiosity.
Once 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 attainable out of each card will benefit from the Customized Money Card. Because you solely earn 5 % money again in a single bonus class (on as much as $500 per billing cycle, then 1 %) and 1 % 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 needs to be placed on one other rewards card.
Actually, because the 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 value it?
The Citi Customized Money Card has quite a bit to supply, however it does have some drawbacks. Listed here are some occasions you might wish to search for a unique money again bank card:
Once you need 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 %), the Customized Money Card isn’t often your best option for a one-card pockets, particularly in case your precedence is incomes rewards.
Rewards-seekers searching for the most effective worth might wish to attempt a money again card with a number of bonus classes that match their spending habits. Top-of-the-line options to the Citi Customized Money Card is the U.S. Financial institution Money+® Visa Signature® Card*. As an alternative of only one bonus class, the U.S. Financial institution Money+ card earns:
- 5 % money again in your two eligible chosen classes on as much as $2,000 in mixed purchases per quarter, then 1 %
- 5 % money again on pay as you go air, resort and automobile reservations by way of the U.S. Financial institution Rewards Middle
- 2 % money again on all purchases in a single eligible on a regular basis spending class of your selection
- 1 % money again on all different purchases
With the U.S. Financial institution Money+ Card, nevertheless, you need to enroll within the customized classes every quarter. For those who don’t, you’ll earn only one % on these purchases. It’ll take just a little extra work to make use of in comparison with the Citi Customized Money, however it may very well be value it because it provides extra possibilities to earn excessive rewards.
Once you wish 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 — however it won’t be your least expensive choice.
The Customized Money Card fees 5 % or $5 (whichever is greater) for every steadiness switch you carry out. For those who’re making an attempt to switch over quite a lot of debt, you would possibly lower your expenses by trying elsewhere for both a smaller steadiness switch payment or an extended introductory APR interval. Among the finest steadiness switch bank cards solely cost a 3 % steadiness switch payment — and even no payment in any respect.
Do you have to get the Citi Customized Money?
For many individuals, the Customized Money Card might be a transparent winner. There aren’t quite a lot of bank cards that allow you to decide the class that earns 5 % again, so individuals who spend quite a bit in bonus areas not sometimes coated by rewards playing cards will love the liberty to mechanically have their class to earn excessive rewards decided by their spending.
Simply do not forget that the Citi Customized Money mechanically 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. For those who’re aiming for dwell leisure to be your high class, for instance, be sure you use the Citi Customized Money for all of these purchases (a minimum of till you hit the $500 spending cap).
However the Customized Money Card doesn’t often 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 attainable, you’ll have to 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 hold their bills at round $500 every month. Nevertheless, when you can simply spend greater than $500 in a month, take into account pairing this card with one other rewards card or procuring round for a unique high-earning money again card.
For extra data on the cardboard, take into account studying our Citi Customized Money advantages information — together with our piece on easy methods to 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 accredited by the issuer.
