Citi Dividend Platinum Select Visa Card Review

The Citi Dividend Platinum Select Visa card is a cash back credit card. It’s actually one of the more popular cards because it offers up to 5% cash back which is comparable to cards like the Discover IT and Chase Freedom cash back rewards credit card offers.

What, if anything, makes this card stand out and is it worth an application? Read our Citi Dividend Platinum Select Visa card review to learn more!

Below is a high level Citi Dividend Platinum Select Visa Card review of the benefits you get when you apply for this card offer right now:

4.5 / 5 stars     

Is the Cash Back All That (and a bag of peanuts)?

The Citi Dividend Platinum Select is primarily a cash back credit card which boasts on its ability to be comparable to other popular cash back credit cards. It offers up to 5% cash back on money spent in categories which change every three months. You then get 1% cash back on everything else. Although on the surface this sounds like other 5% cash back cards, there, are a couple of notes to keep in mind:

  • For some peculiar reason, Citi does not actually release an annual schedule of where you can get the most cash back. The categories make sense for the season (such as travel and theme parks in the summer, home and garden décor in the spring etc.), but you don’t actually get a full calendar. This makes it hard to plan your purchases around getting optimal cash back
  • You can also only earn up to $300.00/year in cash back rewards. This means that there is no point to spending a ton of money in the categories anyway since it may well cap before you even reach a category you’re likely to spend more money in! In other words, don’t blow out your budget just for the sake of more cash back.
  • You do get unlimited 5% cash back (on average) if you shop in the Citi Bonus Cash Center (online)
  • Like Discover, you do have to enrol in these categories before you actually get the extra cash back benefits. Citi sends reminders and enrolment is free. Plus then you get to know what the categories are for three months!

    There are ways to get bonus cash back though. You get $100.00 back if you spend at least $500.00 in the first three months of owning the card. You also get $5.00 cash back on individual balance transfers of over $1500.00. This, on top of the 0% introductory APR on balance transfer for twelve months, really encourages people to switch cards.

    All in all, you are looking at a very middle of the road sort of cash back card which has some of the benefits of the high end ones, but falls short in other respects.

    Paying for the Privilege: Fees of the Citi Dividend Platinum Select Card

    So what are you going to end up paying for this card? This is an important consideration as it turns out to be a rather middle of the road rewards card, meaning that at least in theory, you should have middle of the road fees.

    This card has no annual fee, which is very nice. You also get an introductory APR on balance transfers and purchases of 0% for twelve months. This is good if you have a large purchase to make that you’ll have paid off within the year (and is worth the extra cash back!) or if you want to transfer your old credit card to a new one to save money. After the introductory rate ends though, you’re looking at an APR which varies from being relatively ok to being rather high, depending on your creditworthiness, so make sure you have a good credit record and avoid the potential for a high APR altogether or make sure you pay off your balance in full every month.

    Other fees are fairly standard. There is a 3% foreign transaction fee, meaning that you might not want to take this card travelling and a balance transfer fee of $5 or 3% of the amount you’re transferring; make sure to take that into account when doing a balance transfer so you’re not taken off guard.

    The Citi Dividend Platinum Select Visa card is very much a middle of the road card, in spit of its rather lengthy name. The cash back rewards are better than other cards, but worse than others. The fees are better in some regards and worse in others. The big problem with this card is that there is no way to know in advance what categories Citi is going to use for its increased cash back rewards so it can be hard to plan it out, especially wit that low cash back cap breathing down your neck. But if you’re a CitiBank customer and you’re looking for a cash back credit card, then this is probably going to be the card for you.

    If you want to apply for the Citi Dividend Platinum Select Visa card, you can do so here and enjoy!

    4.5 / 5 stars     

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