Citibank Cash Return+ Credit Card – MoneySmart Analysis (2021)
I’ve a smooth spot for cash return charge cards. There’s none of these defeating round the bush, trying to foresee once payoff things expire or getting slapped with fees for changing atmosphere miles. Certainly Citibank’s newest cash back cards launched is the Citi money back+ cards.
It includes a familiar blue-and-white cards face, nevertheless’s never to be confused with the common Citi money back credit, in fact it is a very popular all-round cash return card in Singapore, but operates extremely differently.
In a nutshell, the Citi Cash Back+ cards drops under the “unlimited cashback card” class, providing 1.6percent money back on all shopping, with no minimum spending and no money back cover. Let’s observe how it stacks up.
No Expiry on Cash Back Earned
Citi Cash Back+ Mastercard®
Money back on Qualified Spend
Minute. Devote every month
MoneySmart unique:
Utilize and spend $200 getting: $300 funds OR an Ergotune Ergonomic Classic couch (worth $399)
Apply and invest $500 to get MORE: $350 Cash OR the NEW 10.2-inch Apple iPad Wi-Fi 64GB (really worth $499) OR an Ergotune Ergonomic Timeless couch (well worth $399)!
Good until 30 Sep 2021
1.6percent cashback in your invest
No minimum invest required and no cap on cash return won
Money back acquired doesn’t end
Redeem your money right back immediately on-the-go with wages with factors or profit discount via SMS
Citi cash return+ credit terms & ailments
Citi Cash Back+ Credit
Annual fee & waiver
$192.60 (first year waived)
Supplementary yearly charge
Interest complimentary course
25 period from day of statement of accounts
Annual interest
Belated installment fee
Minimal payment per month
1percent of recent balances (+ 1percent of any outstanding unbilled installment amounts and interest charges + later part of the fees charge or $50 whichever is higher
Foreign currency transaction fee
Cash advance purchase charge
$15 or 6per cent, whichever was higher
$30,000 (Singaporean / PR), $42,000 (foreigner)
Yes – MasterCard PayPass, Apple Cover, Samsung Pay, Bing Wages
The Citi Money Back+ Cards work
The card’s primary pros would be the following:
1.6per cent cashback on anything.
No minimal paying need
No cashback cap
Typical exclusions use: your can’t get cashback as soon as you pay your income taxation, belated repayment charges, etc
The Citi cash return+ Card’s greatest selling point is it is very straightforward. You don’t have to worry about appointment minimal investing requisite or rack the minds wanting to recall exactly what it provides cashback for.
This might be typical of limitless money back notes : They’re user friendly because they repay you regarding kinds of using, nevertheless capture is the fact that the profit rebate is fairly lower. For these types of notes, 1.6per cent has already been the market-high.
If you’re appearing entirely in that bag of notes, then Citi Cash Back+ Card is an excellent contender. But if you’re comparing cashback cards generally, after that you’ll find 1.6per cent is quite low.
Some other cash return cards that provide rebates for chosen purchasing classes usually bring a much better earn speed of 5% to 10%. Let’s grab the Citi Cash Back (without a +) cards like — this 1 supplies 8percent cash back whenever you spend on eating , gas and food .
Which should make use of the Citi cash return+ Card?
To start with, should you decide’ve currently discovered a cashback credit that suits your day-to-day paying habits, you might shouldn’t terminate it your Citi Cash Back+ cards. You are able to continue using that — your normal cards — for your typical costs like dining out, trips to market and transportation.
But as a result of the shortage of a minimum purchasing requirement, the Citi Cash Back+ cards is a good cards to possess available to you as a backup cards to cover issues only don’t bring an improved cards for. Imagine extremely niche purchases, like fixes from the automobile workshop, dental visits or tunes instructions, to mention a few.
Also, once you strike your own cashback cover for all the thirty days, possible switch over for the Citi money back+ credit to continue earning rebates since 1.6% cash back surpasses none.
If everything had been mind-boggling and you also don’t want to think of creating several cards for various functions, next this card could possibly be great for you as well. The Citi money back+ cards can be as straightforward and fuss-free as it gets: merely swipe, earn some rebates, and this’s it.
Citibank Cash Back+ Card campaigns
If you are not however a Citibank cards associate while subscribe today, you’re able to choose from treats or directly earnings. They changes every month, thus keep a lookout on this subject web page observe the promotions !
Alternatives with the Citi Money Back+ Card
Here are the Citi money back+ Card’s nearest competition.
UOB Absolute Cashback credit – This card has got the highest cashback on the market at 1.7%, and jobs just like the Citi Cashback+ cards. The main downside is it is an Amex card, thus you’ll be hard-pressed to get small stores to simply accept it.