Citi Rewards Classic Credit Card
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.
The Citi Rewards Classic Credit Card
As an entry-level rewards card, the Citi Classic Credit Card could be the ideal choice for someone looking to get into rewards earning. With a low minimum income requirement and a reasonable annual fee – reduced by half to $49 for the first year – this card offers an uncomplicated way to earn rewards on the Citi Rewards program, while also providing a number of useful extras, including 0% p.a. on balance transfers for 15 months.
What we love...
If you’re looking to save money, either on interest or on annual fees, the Citi Classic Credit Card could help you out. With its current balance transfer offer, you could transfer the balance from your existing card to save on interest with 0% p.a. on balance transfers for 15 months. You can transfer up to 80% of your approved credit limit.
As for that reduced annual fee, you will pay $49 in the first year, and $99 each year thereafter. You can choose to add up to four additional cardholders to the account to help you earn rewards faster, but this will come at a cost of $15 per year for each cardholder.
As a rewards card, the Citi Classic Credit Card is fairly straightforward. Earning points on the Citi Rewards program, you can earn 1 point per $1 spent on all eligible domestic spending, up to $5,000 per statement period, and 1 point per $1 spent on all eligible international spend (uncapped). Offering a pretty flexible rewards program, Citi Rewards can be redeemed for travel, digital gift cards, cash back, merchandise and more.
Another nice feature on the Citi Classic Credit Card is its cashback offer. As a new cardholder, you can earn 5% cash back on all retail purchases (up to $1,000 spend) in the first 90 days from card approval. Giving you a maximum of $50 cash back, this works to balance out the annual fee on the card.
What’s not so great...
Similar to many rewards cards out there, the Citi Classic Credit Card has a relatively high rate of interest on purchases and cash advances. To enjoy the full value of the card’s rewards and features, it’s best if cardholders avoid paying interest by clearing their balance by the due date each month.
In terms of the balance transfer offer, there is a 1.5% balance transfer fee that applies. And while it might offer a nice long intro period, cardholders should work on paying off any transferred balance within that first 15 months to avoid interest accruing after that. Any balance left unpaid will revert to the card’s higher cash advance rate.
Why should you choose this card?
While it may be an ‘entry-level’ rewards card, the Citi Classic Credit Card does offer plenty of perks and privileges. So, if you’re looking for a card that allows you to earn rewards while also enjoying a few nice features, this card can let you do that – without breaking the bank with a massive annual fee.
As a cardholder, you can enjoy a free bottle of wine when you dine at hundreds of participating restaurants with the Citibank Dining Program. T&Cs apply. Another nice Citi perk gives you access to amazing offers at home and overseas with Citi World Privileges. You can also enjoy added peace of mind when using the card, with complimentary Purchase Cover Insurance and Guaranteed Pricing Scheme.
The card offers up to 55 days interest free on purchases, as well as Citi’s fraud protection, and emergency card replacement backed by 24/7 customer service if your card is lost or stolen. Lastly, if you want to be able to sync your card to your device, this card is compatible with Apple Pay, Samsung Pay and Citi Pay.
This is an uncomplicated rewards card that allows cardholders to earn points on the Citi Rewards program while enjoying functional features and extras, such as 0% p.a. on balance transfers for 15 months and a reduced annual fee of $49 for the first year.