The Citi Custom Cash® Card is a versatile and flexible credit card from Citi that allows users to earn 5% cash back on their top eligible spending category each billing cycle, up to the first $500 spent.
It also offers 1% cash back on all other purchases.
The card comes with no annual fee, making it a cost-effective option for those looking to earn rewards while keeping expenses low.
Reasons to Choose the Citi Custom Cash Card
5% Cash Back on Top Spending Category:
The Citi Custom Cash® Card offers 5% cash back on your top eligible spending category each billing cycle, which can include categories like restaurants, gas stations, grocery stores, and more.
This feature is especially beneficial for those who have variable spending habits.
No Annual Fee:
The Citi Custom Cash® Card comes with no annual fee, making it an attractive option for those who don’t want to pay extra just to earn rewards.
$200 Sign-Up Bonus:
The card offers a generous $200 cash back after you spend $1,500 on purchases within the first 6 months from account opening.
This bonus is a great incentive for new cardholders to start using the card.
Automatic Category Selection:
Unlike many other cards, which require you to manually select or enroll in categories to earn higher rewards, the Citi Custom Cash® card automatically chooses the category where you spend the most, making it easier to earn the highest rewards without any extra effort on your part.
No Foreign Transaction Fees:
The Citi Custom Cash® Card does not charge any foreign transaction fees, which makes it a good option for international travel.
You can use it abroad without incurring extra charges for purchases made in foreign currencies.
Flexible Cash Back Redemption Options:
You can redeem your cash back as a statement credit, direct deposit, or even for gift cards.
The flexibility in redemption options allows you to choose how you want to use your rewards.
Introductory 0% APR on Purchases and Balance Transfers:
The card offers a 0% introductory APR for the first 15 months on purchases and balance transfers.
After that, the APR rises to a variable rate of 16.24% to 26.24%, depending on your creditworthiness.
This can be beneficial for those looking to make large purchases or transfer high-interest balances from other cards.
Access to Citi® Entertainment:
As a Citi cardholder, you gain access to exclusive entertainment benefits, such as access to presale tickets and special events, making this card an attractive choice for those who enjoy live shows and exclusive events.
Negative Factors of the Citi Custom Cash® Card
Limited to $500 per Category per Billing Cycle:
While the 5% cash back on the top eligible category is a fantastic benefit, it is limited to the first $500 spent in the category each billing cycle.
After that, you earn 1% cash back for the rest of your spending in that category. This cap may not be ideal for individuals who spend heavily in a single category every month.
Higher APR After Introductory Period:
Although the card offers a 0% APR on purchases and balance transfers for the first 15 months, the APR can rise to a variable rate of 16.24% to 26.24% after the introductory period ends.
This could result in high interest charges for people who carry a balance after the introductory period.
Limited High-Earning Categories:
The 5% cash back is limited to one category per billing cycle, and while the card covers popular categories like restaurants and gas stations, it may not be ideal for those who prefer a more expansive set of categories to earn higher rewards.
Cash Back Redemption Requires $25 Minimum:
While the card offers flexible redemption options, there is a minimum redemption threshold of $25, meaning you’ll need to accumulate at least this amount in rewards before you can redeem them. For those who prefer smaller, more frequent redemptions, this could be a disadvantage.
No Rewards for Rotating Categories:
Unlike other cards that offer 5% cash back on rotating categories, the Citi Custom Cash® Card does not have this feature.
While the automatic category selection is convenient, some users may prefer a more predictable reward structure where they know exactly when they’ll earn the higher cashback rate.
What Are the Requirements to Apply for the Citi Custom Cash® Card?
To apply for the Citi Custom Cash® Card, applicants need to meet certain requirements:
Credit Score:
The card typically requires a good to excellent credit score, usually in the range of 670 to 850.
Those with higher credit scores may have a better chance of receiving approval and a higher credit limit.
Income:
As with most credit cards, you’ll need to provide income information to demonstrate your ability to repay the debt.
Applicants with higher income are often approved for higher credit limits.
Age:
You must be at least 18 years old to apply for the Citi Custom Cash® Card.
U.S. Residency:
You must be a U.S. resident with a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Debt-to-Income Ratio:
A low debt-to-income ratio is important for approval. Citi will assess your current debt obligations to determine if you can manage additional credit.
Credit History:
A clean credit history (no recent bankruptcies or missed payments) will improve your chances of being approved.
Fees and Costs
Here are the key fees and costs associated with the Citi Custom Cash® Card:
- Annual Fee: $0
- Balance Transfer Fee: 5% of each balance transfer or $5, whichever is greater.
- Cash Advance Fee: 5% of each cash advance or $10, whichever is greater.
- Late Payment Fee: Up to $40.
- Returned Payment Fee: Up to $40.
- Foreign Transaction Fee: $0.
- APR (After Introductory Period):
- Purchase APR: 16.24% to 26.24% (Variable).
- Balance Transfer APR: 16.24% to 26.24% (Variable).
- Cash Advance APR: 26.24% (Variable).
Frequently Asked Questions
What categories earn 5% cash back on the Citi Custom Cash® Card?
The card earns 5% cash back on your top eligible spending category, which can include categories like restaurants, gas stations, grocery stores, select travel, and select streaming services.
How much can I earn in 5% cash back each month?
You can earn 5% cash back on up to $500 spent in your top spending category each billing cycle. After that, you earn 1% on additional purchases in that category.
Is there a sign-up bonus for the Citi Custom Cash® Card?
Yes, you can earn a $200 cash back bonus after you spend $1,500 in the first 6 months from account opening.
How do I redeem my cash back?
You can redeem your cash back as a statement credit, direct deposit, or for gift cards. Redemptions require a minimum of $25.
Is there a foreign transaction fee for the Citi Custom Cash® Card?
No, the Citi Custom Cash® Card has no foreign transaction fees, making it ideal for international travel.
Conclusion
The Citi Custom Cash® Card is an excellent choice for people who want to earn 5% cash back on their top eligible spending category each month, without the complexity of rotating categories.
The card’s no annual fee, introductory 0% APR, and sign-up bonus make it a highly attractive option for individuals looking to maximize their rewards without incurring extra costs.
