Review of Citi Dividend Platinum Select Card
The Citi Dividend Platinum Select Card was last reviewed on 2nd April 2006
The Citi Dividend Platinum Select Card is on our Editor's Choice List. This is perhaps the only cash rebate credit card with a simple non-tier formula that pays 5% rebates on purchases at standalone supermarkets, gas stations and drugstores. We highly recommend the Citi® Dividend Platinum Select® Card to those who want to earn cash rebates as
- You can earn 5% rebates on purchases from standalone supermarket, gas stations and drugstores - this is a simple rebate formula - no tiers
- You get an excellent balance transfer deal - 0% apr for 12 months from date of transfer (no balance transfer fee)
- You can even earn rebates from balance transfers of $1,500 or more
- Purchases from Citi Dividend Merchant Network can earn unlimited rebates
Let us look at this card in more detail.
Rebate Formula - The Citi Dividend Platinum Select Card has a simple formula that pays a 5% rebate on purchases from standalone supermarkets, gas stations and drugstores. You can 1% rebate on other purchases. You can earn up to $300 rebates in a year. Purchases from Citi's Dividend Merchant Network are exempt from this cap. If you hit your $300 limit, you can always get another identical card from Citi.
Annual Fee and APR - There is no annual fee. The apr is prime rate plus 9.99%. The Citi Dividend Platinum Select Card uses the average daily balance method (including new purchases) of calculating your monthly balance.
Very good balance transfer deal - You get an introductory apr offer of 0% on balance transfers for 12 months from the date of transfer, not from account opening as long as the transfer is made within 12 months. There is also no balance transfer fee for the offer. You will earn rebates ($5.00) for each $1,500 of balance transfer you make.
Conclusion - The Citi® Dividend Platinum Select® Card is the only cash rebate card with a simple non-tier formula that pays 5% rebates on purchases at standalone supermarkets, gas stations and drugstores. This card, in our opinion, is a must-have for those looking at cash rebate credit cards.
Latest Update - As of 8/18/2006, Citibank is no longer offering the Citi Dividend Platinum Select Card. Sources tell us that they are revamping the reward formula. Given that their closest rival the Chase Cash Plus Rewards has also been discontinued, we recommend you consider the Blue Cash� from American Express . This card allows you to earn 5% rebates on supermarket, gasoline and drugstore purchases and 1.5% rebates on other purchases. You will earn these rebate levels once your annual spending exceeds $6,500. Before that you earn 1% and 0.5% respectively. Unlike the Citi Dividend Card, you can earn unlimited rebates with this card.
- Earn 5% on purchases from standalone supermarkets, gas stations and drugstores
- Excellent balance transfer deal
|Citi Dividend Platinum select Card
||Earn 5% on purchases at supermarkets, gas stations, drugsores and home-improvement store
Earn up to 1% cash reward all other purchases
Earn 1% on cash advances and cash convenience checks billed at standard cash advance rate
Earn 5 dividend dollars for each balance transfer checks of $1500 or greater
|Caps on Rewards
||300 dividend dollars per year
Purchases made through Citi Divident Merchant Network are not subject to $300 limit
|Travel and Insurance Benefits
|Up to $1,000,000 Automatic Travel Accident Insurance
Auto Rental Insurance
Travel and Emergency Assistance
Discount from Hertz
|Zero liability on unauthorized purchases
Retail protection service
Lost wallet service
24/7 customer service
||0% introductory APR on balance transfers for first 12 months from date of transfer
||No anual fee
||Prime Rate plus 9.99%
|Balance Transfer APR
||Prime Rate plus 9.99%
|Cash Advance APR
||Prime Rate plus 14.99%
|Penalty/Default Rate APR
||Prime Rate plus 23.99%
|Min Finance Charge
|Balance Calculation Method
||Average Daily Balance (including new purchases)
|Balance Transfer Fee
||3%, min $5.00, max $75.00
|Cash Advance fee
||3% min $5.00
|Late Payment fee
||$15.00 - up to $100
$29.00 - $100 up to $1000
$39.00 - $1000 and greater
The Citi Dividend Platinum Select Card has been discontinued. Apply for the Blue Cash� from American Express instead.
If you already have the Citi Dividend Platinum Select Card, we would appreciate if you could take some time to share your experience in using this card with our readers. You can post your review here.
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