Citi Rewards+® Card: review

The no-annual-fee Citi Rewards+® Card seems like an intriguing option. You’ll earn 2 points per dollar spent at supermarkets and gas stations for the first $6,000 per year, and 1 point per dollar spent after that

Furthermore, the card’s most unique feature—that it rounds up to the nearest 10 points on every purchase, could have you mentally counting up your future points potential.

There’s a welcome bonus too: 20,000 bonus points after spending $1,500 in purchases within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.

Pros & Cons

Pros

• 2 ThankYou points per $1 spent at supermarkets and gas stations (for the first $6,000 spent per year)
• 1 ThankYou point per $1 spent on all other purchases
• All purchases rounded up to the nearest 10 rewards points.
• 10% points bonus added to the first 100,000 points redeemed annually.
• No rotating categories to manage.
• Earn 20,000 bonus points after spending $1,500 in purchases within 3 months of account opening – enough for $200 in gift cards when redeemed at thankyou.com
• Pay for all or part of your online purchases with points at Amazon.com and BestBuy.com®
• Redeem for a wide selection of fashion retailers, entertainment and more. A $25 gift card is just 2,500 points at thankyou.com

Cons

• Requires good/excellent credit
• Complicated redemptions
• Foreign transaction fee.
• Potentially high APR depending on your creditworthiness.
• High balance transfer fee
• Annual $6,000 spending cap on 2x points category.

Rates, fees & offers

• Annual fee: $0
• Bonus offer: Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
• Intro APR: 0% Intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening
• Ongoing APR
  APR: 13.49% – 23.49% Variable APR
  Penalty APR: 29.99%
  Cash Advance APR: 24.99%, Variable
• Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening (5% ongoing)
• Foreign transaction fee: 3%

Review

Redemption options

You can redeem points for things like gift cards, travel, cash and potentially statement credits (for eligible purchases in select categories). You can also use points to shop online at eligible merchants, via the “Shop With Points” option. But point values vary widely depending on what you choose.

Gift cards, for example, generally redeem at a value of one cent per point. If you redeem points at Amazon.com, they’re worth only about 0.8 cent each. Other redemption options like cash back and statement credit yield a value of only half a cent per point. You can also transfer points to JetBlue’s TrueBlue loyalty program, but not at a 1:1 ratio. (With this card, 1,000 ThankYou points will net you 800 JetBlue points.)

0% Introductory Rates

The Citi Rewards+ comes with the following offer: 0% intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 13.49% – 23.49%, based on your creditworthiness.

An intro balance transfer fee of either 3% of each transfer or a minimum amount of $5 within the first 4 months of account opening applies. After that the amount of each balance transfer will be 5% of each transfer (minimum $5) applies.

Other Card Benefits

• Citi Entertainment: Get special access to purchase tickets for live entertainment including concerts and sporting events, including presale tickets and exclusive experiences
• Citi Concierge: Access to a staff of experts to help with a variety of tasks
• Points Rebate: Get 10% points back on all redemption options for the first 100,000 ThankYou Points you redeem per year

How to request this card

Applying for a credit card is very simple and you can do it through the app or website. But you need:

• Social Security Number
• Gross income
• Employer name (if applicable)
• Rent/mortgage amount

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