The Citi Custom Cash Card launched in June 2021, and already, it's drawing a lot of attention. While there are already several 5% cash back cards on the market, the Citi Custom Cash aims to keep things simple by getting rid of complicated rewards structures and replacing them with automatically adjusted rotating categories that reflect your spending habits. If you're looking for a new way to earn, here are 10 very good reasons to consider the Citi Custom Cash Card.
1. No annual fee
Some cards come with a dazzling list of benefits, but once you factor in just how much you'll be paying the card issuer in annual fees, those benefits suddenly become a lot less attractive. Fortunately, there's no such worry with the Citi Custome Cash Card. Citi won't charge you a dime in annual fees for carrying the card, with the result that every cent you earn in rewards stays where it belongs - with you.
2. Rewards on everyday spending
The Citi Custome Cash Card's biggest draw is its generous reward scheme. As Finder notes, the reward categories offered by Citi are strong, and include most typical spending areas. These include grocery stores, gas stations, restaurants, drugstores, home improvement stores, travel, transit, and streaming service. It also includes categories that aren’t usually offered by other credit cards, like fitness clubs and live entertainment.
3. Flexible rewards
According to citigroup.com, 82% of Millennials' spending varies month-to-month based on their shifting interests and priorities. A further 87% have expressed interest in a credit card that does the work for them to maximize their rewards based on their changing spending patterns. With Citi Custom Cash Card, they've got exactly what they asked for. The card automatically adjusts to the cardholder's spending needs, rewarding them 5% cash back on their top eligible spend category and 1% cash back on all other purchases. As Forbes notes, the flexibility of the Custom Cash Card makes it infinitely more appealing than a card that offers bonus rewards for three months at a warehouse club where you’re not a member or elevated earnings on tolls or gas stations when you don’t own a car.
4. Low maintenance
Many cards offer bonus categories, but few offer them in such a fuss-free, simple format as Citi Custom Cash Card. You don't have to activate your bonus categories each quarter as you do with most cards, so you won't be penalized if you forget. You also don't need to worry about keeping track of how your spending habits change from one quarter to the next in order to optimize your rewards. Citi takes care of it for you, automatically adjusting your top bonus category based on your activity. So, for example, if you earn 5% cash back on travel in one billing cycle, but begin spending more on restaurants the following cycle, your bonus will automatically adjust so you can start earning 5% on your dining expenses instead. If you had any concerns about the challenges of a rotating cash back card, the simplicity of the City Custom Card could be the answer.
5. Simple redemption
Some cards make it so hard to redeem your rewards, it makes you wonder why they bother dishing them out in the first place. Fortunately, the process for redeeming rewards with the Custom Cash Card is just as simple and flexible as earning them. Rewards are issued as Thank You points, which can be redeemed for cash back at a value of a cent per point as a direct deposit, check, or statement credit. You also have the option to redeem the points for gift cards, travel charitable donations, and Shop with Points at Amazon.com (although bear in mind that if you redeem them for the latter, the value will be less than with other options).
6. Generous introductory offers
A generous introductory offer always helps sweeten the deal. In the case of the Citi Custom Cash Card, new cardholders can expect to earn 20,000 Thank You Points when they spend a minimum of $750 on purchases in the first 3 months of account opening. The points equate to $200 in cash back, which, for a no annual fee card, is incredibly generous. Bear in mind that the bonus is only available to customers who haven't received another Custom Cash Card signup bonus in the past 48 months. The card also comes with a 0% intro APR on purchases and balance transfers for 15 months, which will give you plenty of time to pay down any large purchases or transferred debts.
7. Exclusive offers with Citi Entertainment
As The Points Guy notes, as a no annual fee card, it shouldn't come as a surprise to learn that the Citi Custom Cash is light on big benefits. it does, however, offer a nice little selection of perks. Of those, one of the most appealing is access to Citi Entertainment, through which cardholders can enjoy exclusive access to tickets for concerts, sporting events, culinary experiences, and more besides.
8. Banking the easy way
While Citi Custom Cash might be light on benefits, it's heavy on essential features that make your card more convenient to use than ever. These include automatic account alerts to remind you of your balance levels, payments due, or when you go over your credit limit; contactless payment; digital wallets to make online shopping safer and easier; and access to the Citi Mobile App to enjoy access to your account anywhere, anytime. You also have the option to choose a payment due date to suit your needs.
9. Safety first
Like all Citi cards, the Custom Cash Card comes with numerous security features to keep your money safe. Services include Mastercard ID Theft Protection, which monitors your account for suspicious activity; $0 liability on unauthorized charges, regardless of whether the charge was made online or in store; Fraud Early Warning to alert you to any potentially fraudulent transactions; and Citi Quick Lock, which will instantly block any new charges after you report your card lost or stolen.
10. 24/7 support
Should you have a problem with your card, a question about your account, or an issue with a payment, you don't have to wait until standard business hours to contact Citi. Once you receive your Citi Custom Cash Card, you'll be able to contact a Citi customer representative 24 hours a day, 7 days a week.
Written by Allen Lee
Read more posts by Allen Lee