Citibank offers a wide range of credit cards. Its cards offer some of the best 0% APR and cash back deals available today. It offers some excellent points and miles travel cards. In this article I’ll cover what I think are the best Citibank credit cards for those looking for the best rewards and lowest rates.
I’ve carried Citi credit cards for years. Back in the day I took advantage of Citi’s 0% balance transfer cards to get out of debt. Today the Citi Double Cash is in my wallet because it pays 2% cash back–1% on purchases + 1% when you pay for those purchases.
Factoid: Did you know that Citibank was founded in 1812 as the City Bank of New York? Now you do.
In this article we’ll look at what I think are the best Citibank credit cards available today, starting with the card I carry.
Best Citibank Cash Back Credit Cards
Citibank credit cards offers excellent cash back rewards. Here are two of my favorites.
Citi Double Cash Credit Card
Beyond the cash back, the card also offers a 0% intro APR on balance transfers for 18 months. The card doesn’t come with a signup bonus, but there is no annual fee and you get free access to your credit score.
- Rewards: Earn 1% on purchases & 1% on payments
- Signup Bonus: None.
- 0% Offer: 0% Intro APR on balance transfers for 18 months
- Balance Transfer Fee: 3% of each transfer (minimum $5) completed within the first 4 months of account opening.
- Annual Fee: $0
Citi Custom Cash Card
The result is a 5% cash back card without the headaches and limitations of existing rotating category cards. Keep in mind that the 5% is capped at $500 a month and all other purchases earn 1% cash back.
Beyond the cash back, the card also offers a 0% intro APR on balance transfers for 15 months and on purchases for 15 months. The card also offers a $200 bonus after you spend $750 on purchases with the card in the first 3 months.
- Signup Bonus: $200
- Rewards Rate: 1% or 5%
- 0% Intro APR: 0% Intro APR on balance transfers for 15 months and on purchases for 15 months.
- Balance Transfer Fee: $5 or 5% of the amount of each transfer, whichever is greater.
- Annual Fee: $0
Citi Double Cash + Citi Custom Cash
For those wanting to maximize cash back, a combination of Citi Double Cash and Citi Custom Cash is a good strategy. For example, if we assume a $4,000 monthly spend, the Citi Double Cash alone would generate $80 a month in cash back assuming the card were paid in full ($4,000 x 2% = $80).
If the Citi Custom Cash is used for $500 of spending in an eligible category, however, that spend alone would generate $25 (5% of $500). If the remaining $3,500 were charged to Citi Double Cash, that would generate $70. Combined both cards would produce $95 a month in cash back. That’s an 18.75% increase over using the Citi Double Cash card alone.
Costco Anywhere Visa Card by Citi
That’s the good news. The not so good news is that the card pays out these rewards once a year (around February). You get a certificate that you can use at Costco or exchange for cash. I’ve carried the card for years primarily as our Costco ID. Because you have to wait a year for the rewards, we rarely use it outside of Costco (we don’t even use it at Costco most of the time!). But others might not mind waiting a year for the rewards.
Beyond the cash back, the card also offers a 0% intro APR on balance transfers for months. The card doesn’t come with a signup bonus, but there is no annual fee and you get free access to your credit score.
- Rewards: 1% to 4%
- Signup Bonus: None
- 0% Offer: None.
- Annual Fee: $0
Best Citibank Balance Transfer Credit Cards
Citibank offers some of the longest 0% intro APRs available on balance transfers. The one note of caution, however, is the balance transfer fee. While the days of no fee balance transfers are gone for now, Citibank charges as high as 5% on the transfer fee. The industry standard is 3%. Note that there are no fees for using the 0% intro APR for purchases.
The higher balance transfer fee may be worth the cost if the extra 0% period saves you more. It’s important, however, to do the math before making a decision. One alternative is the Citi Double Cash card listed above. While the duration of its 0% balance transfer is a bit shorter, its transfer fee is lower.
Citi Diamond Preferred Card
The card offers no meaningful rewards and no signup bonus. It is a no annual fee card, which again makes it ideal for its primary function–balance transfers.
- Signup Bonus: N/A
- Rewards Rate: N/A
- 0% Intro APR: 0% Intro APR on balance transfers for 21 months and on purchases for 12 months.
- Balance Transfer Fee: $5 or 5% of the amount of the transfer, whichever is greater
- Annual Fee: $0
Citi Simplicity Card
So what’s the difference? Unlike Citi Diamond, this card charges no late fees or penalty rates. That’s the good news. In exchange, it does charge a slightly higher regular APR.
- Signup Bonus: N/A
- Rewards Rate: N/A
- 0% Intro APR: 0% Intro APR on balance transfers for 21 months and on purchases for 12 months.
- Balance Transfer Fee: $5.00 or 5% of the amount of the transfer, whichever is greater
- Annual Fee: $0
Final Thoughts
I’ve banked at Citi for more than 30 years. I’ve carried at least one Citibank credit card for about as long. Overall they offer competitive cards depending on your specific goals. They compete best in the cash back and 0% intro APR markets.
