CITI Cashback Card has gained popularity among all credit cards because of many benefits it offers. The cardholders enjoy the benefits like rebate and cashback rewards on almost every purchase they make using the card. One of the most attractive features of this card is that you can avail the rebate on your credit or debit card without having to pay any annual fee or any processing fees. This card is also very beneficial for those people who travel a lot. Many people prefer to avail this card to make their travel expenses free from any extra cost. This card is issued by Citibank and offers a cashback rate of up to 5 percent.
There are many advantages of availing CITI cashback card. It has no annual fee, thus saves cardholders from paying lots of cashback fees every year. The cashback amount is also not limited to one point, hence cardholders can earn as much cashback as they want. Also, this card is suitable for new cardholders. The APR of this card is not very high.
There are few disadvantages of CITI cashback card too. First, the cashback is only available for purchases made using your credit or debit card. You cannot use this card for online shopping. Also, this card is not available for gas purchases. You cannot have this card if you hold a balance on your account.
On CITI cardholders face the risk of losing their cashback benefits if they are not able to pay their bills on time. If cardholders have credit card debt, they may face the risk of over-limit and late payment charges. The interest rate charged on cashback credit cards is higher than the interest rate on purchases. CITI cashback cardholders need to pay comparatively higher interest rate on this card. Moreover, the credit limit is less when compared to other cards.
There are certain things that a cardholder must know before applying for CITI cashback cards. The first thing is that the cash back feature is not applicable in all cases. Only purchases made with your CITI card will avail you the benefits of cashback. Secondly, there are some purchases that are not covered under the cashback scheme. One example is shopping for gas using your credit card.
The credit card providers offer different terms and conditions to cardholders. Some charge annual fees and some do not charge any fees at all. There are also different types of cashback programs offered by different card issuers. This means that cardholders must check the terms and conditions of each card issuer before choosing one. Most often, cardholders choose to apply for CITI cashback cards which offers the best terms.
Cards offered by Citibank are usually preferred by most cardholders. The reason behind this is that they offer very low interest rates on their cards. Credit card rates may increase after the introductory period is over. On top of that, many cardholders find these cards convenient since the rates are usually less than the prevailing market rates. In addition to that, if they decide to close their credit card accounts, they are offered incentives to do so.
Before choosing any CITI cashback card, cardholders must compare and contrast the terms and conditions of the different cards. This is important so as to avoid being deceived by the card issuers. These comparisons can be made easily, since they are available on the internet. This will make it easier for you to determine the pros and cons of each credit card offer. Remember that you should not only check the APR rate but the terms and conditions as well.
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