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News: Citi Introduced a New Credit Card that Earns Up to 5% cash back - Credit-Land.com

Citi just announced the launch of a new cash back credit card for those who do not want to keep track of category bonuses. The new Citi Custom CashSM Card is not the only cash back card from Citi. Another cash back card is the Citi® Double Cash Card – 18 month BT offer. It offers 2% on every purchase - unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Unlike most cash back cards and unlike cash back cards with quarterly categories, the Citi Custom CashSM Card will offer maximum rewards based on the top eligible spend category each billing cycle. Thus, cardholders will earn 5% cash back in their top eligible spending category on up to the first $500 spent each billing cycle. Once the limit is reached, cardholders will continue earning 1% cash back in that top category. All other purchases will earn unlimited 1% cash back on all other purchases.

This rewards structure is great for those who tend to maximize specific purchases on their credit cards. There is no need to register, activate, or sign up to earn the maximum of 5% cash back in eligible categories. The purchases that will qualify for 5% cash back should be in either of these ten eligible categories:

- Restaurants

- Gas stations

- Grocery stores

- Select travel (airlines, hotels, cruise lines and travel agencies)

- Select transit (car rentals, ferries, commuter railways, subways, taxis, bridge and road tolls and some other)

- Select streaming services (Amazon Prime Video, Apple Music, Disney+, Spotify, Startz, Vudu, and some other services)

- Drugstores

- Home improvement stores

- Fitness clubs

- Live entertainment

In addition to great everyday rewards, Citi Custom CashSM Card cardholders can earn $200 in cash back as a welcome bonus offer for spending $750 on purchases in the first 3 months of account opening. This bonus will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back as a redemption option.

As for the fees, there is no annual fee for the card, and the introductory 0% APR is given for 15 months on purchases and balance transfers. Once the introductory period is over, a standard variable go-to APR will apply. Citi plans to issue only one Citi Custom CashSM Card account per person.