Consumers always have a choice between Visa Cards and MasterCards at any given point in time. They have to exercise caution while choosing a card which would best suit their needs. Quite obviously, a card that has no annual fees, offers 0 percent annual percentage rates (APR) and a good cash back scheme would be the best option.
Citi Freedom seems to be the best in the market right now, as it offers 0 percent APR for the first six months on purchases and from there on it reverts to the standard variable rate depending on the creditworthiness of the consumers.
The interest rates vary for consumers. For instance, the consumers who clear their monthly dues in full can avail the cash back option. For those who avail 0 percent balance transfer card, it would mean 0 percent rate for the next 15 months. The range of the current variable rates is between 12.99 percent and 22.99 percent. So in principle, the card is well suited for consumers who would use it for rewards and not for the ones who use it to pay off debts.
This card is ideally suited for grocery shopping and paying off utility bills as there is an unlimited cash back bonus of 1 percent on all spending. When a consumer spends $799 in a span of 3 months, he will get a statement credit of $100.
Citi Freedom Visa Card holders can avail up to 20 percent cash backs by using it in select outlets such as, hotels, restaurants, car rentals, department stores and gas stations. It also has good options for student Visa Cards. The Citi MTVu Platinum Select Visa is an ideal choice for students who are starters and can get a good credit record. The students are rewarded for paying on time as well as keeping up good GPA scores. It requires no co-signatory and has 0 percent APR for the first seven months and then reverts to the standard variable rates applicable at the rate of 12.99 to 21.99 percent.
Other reward programs like 2000 points for good GPA`s and another 25 points for paying before the due date are on the list. The 1 point for every dollar spent is increased to 5 points if the card is used to purchase books or if used at a restaurant.
In all, it is ideal for students as they are rewarded for good scores at college and encourages students to make prompt payments, which in turn helps the student in establishing good credit. Citi Freedom and Citi MTVu are the best in the market for consumers and students alike.