The Citi CashReturns MasterCard is for people who want to earn cash rewards on their credit card spending and those who want a low-cost balance transfer option. It is used to pay bills, make purchases , check balances and do a lot of other transactions online. It has an attractive cash-back rewards program, but it works just as well for balance transfers. The Citi CashReturns MasterCard is advertised as a good cash-back rewards card – which it is. However, it is better as a balance-transfer card. If you have an excellent credit, you can get a 0% balance transfer rate for as long as 18 months – or 12 to seven months if you have lower credit. You can earn five “CitiDollars” on all balances transfers over $1,500.
Features\ Rewards of the Citi CashReturns MasterCard Credit Card
- You must have excellent, good or fair credit to qualify for this card.
- Long introductory 0% APR period on balance transfers.
- Full 1% cash back on purchases.
- Rewards earned on cash advances and balance transfers.
- Automatic rewards redemption by check.
- 2% cash back on purchases for the first six months, then 1% cash back.
- 1% cash back on cash advances.
- Rewards earned on balance transfers.
Other Features of the Card include
- 0% balance transfers for seven to 18 months, depending on your credit rating.
- Purchases APR of between 12.99% to 20.99%, depending on your credit rating.
- Cash advance fee is 24%
- No annual fee.
- Balance transfer and cash advance fee is 3% of amount.
- Late payment fee is $15 to $39
- Over-limit fee: $39.
- If you shop through Citi’s Bonus Cash Center, which the bank says has more than 400 merchants. For example, you can earn 9% at FTD.com and 2% at Frederick’s of Hollywood.
The Citi automatically gives you a check when you reach the $50 rewards threshold. However, that minimum is fairly high compared to those other cards. If you shop at stores that pay rich rewards, you can easily reach the $50.
Moreover, the Citi CashReturns MasterCard allows you earn the full reward on cash advances. Don’t do that, though – the cash advance fee is 3%, and the APR is over 25%. So any reward you would earn wouldn’t come close to making that up.
In conclusion, even though the Citi CashReturns MasterCard card works very well for both balance transfers and to earn rewards, don’t use it for both – choose one or the other. The best thing to do is: Transfer your balances, pay them off and start earning cash-back rewards on purchases.