The Citi Rewards+® Card* woos cardholders with a handful of upfront perks, but they run out of steam after your first year or so with the card. While the welcome bonus and introductory APR are fleeting benefits, they can help the right cardholder pad their budget and manage credit card debt.
While you'll also earn rewards, they're not the strongest rates available -- even for a credit card with no annual fee. But the Citi Rewards+ Card does offer a few other novel ways to earn extra points.
Rewards and redemption
The rewards structure is very straightforward. You can use the Citi Rewards+ for all of your gas station and supermarket spending to earn 2x ThankYou points per dollar (on the first $6,000 spent per calendar year, then 1x) and 1x point for other purchases.Â
While the spending caps make this card more restrictive than a flat-rate cash-back credit card, it does partially make up for its restrictive nature through two unique features. First, the rewards cardholders earn will be rounded up to the nearest 10. That means if you make a $2 purchase, $13 purchase, $24, etc. the points you earn will be rounded up to the nearest 10 points. So a $12 purchase at a sporting goods store would earn you 20 points as opposed to 12.
The other unique feature is that you'll have 10% of the first 100,000 points you redeem each year refunded back to you. That means if you redeem 10,000 points for gift cards, statement credits, travel, or any of the other redemption options available, you'll get 1,000 points back.
Once you've done your weekly grocery spending and filled up the tank, you can redeem rewards for:
- Statement credits
- Travel (airfare, hotel stays, rental cars)
- Gift cards
- Shop with Points online at Best Buy and Amazon
- Pay with Points (redeem in certain categories to cover recent purchases)
Points are worth 1 cent when redeeming for gift cards, but point values may vary depending on if you choose to redeem another way.
Introductory purchase and balance transfer offer
The Citi Rewards+ features a 0% introductory APR for both purchases and balance transfers for 15 months (then 18.74% to 28.74% variable). An introductory APR is a good way to bolster your finances by avoiding interest charges and reducing credit card debt.
If you have a large purchase planned, such as a trip or maybe a new appliance, you could charge it to the card and pay it down while the balance accrues no interest. Similarly, if you have a balance on another credit card accruing interest from a high APR, you could transfer it to the Citi Rewards+ card and pay it down more quickly. It lets you pay the balance down faster by allowing your full payments to go toward the principle.
Take note, you'll need to complete any balance transfers within the first four months of account opening in order to qualify for the intro offer. There's also a balance transfer fee to be aware of. You'll need to pay 3% of the transfer ($5 minimum) in order to move it over. For balance transfers made after the first four months, the balance transfer fee increases to 5% of each transfer ($5 minimum), which is high among balance transfer cards.
Paying a balance transfer fee is usually much better than suffering from continuous interest charges on a balance on another card.
Welcome bonus
The Citi Rewards+ card offers new cardholders 20,000 bonus points for spending $1,500 within the first 3 months with the card. If you choose to redeem for gift cards at thankyou.com, that would equate to a $200 value.
This welcome bonus is competitive with other no annual fee credit cards, and if you're using the card for all of your gas and grocery spending, it'll probably be relatively easy to reach depending on your monthly spending habits.
Other card perks
Cardholders can check their FICO score for free, and the card comes with standard fraud protections, but there are no additional shopping or travel protections.
Comparable cards
The Citi Rewards+ might not be the best choice for everyone. Here are two more credit cards to consider.
Wells Fargo Active Cash® Card*
The Active Cash is one of the best flat-rate cash rewards credit cards to choose and improves on a lot of what the Citi Rewards+ card has to offer.Â
Active Cash cardholders earn 2% cash rewards for their purchases, with no limit to the amount of rewards they can earn, making it a more flexible option. Like the Citi Rewards+, it has no annual fee and features an introductory offer for purchases and qualifying balance transfers.
Its welcome bonus is easier to reach yet equally as rewarding – you can earn a $200 cash rewards bonus for spending $500 in purchases in the first three months.
Read more about it in our Wells Fargo Active Cash Card review.
Citi Double Cash® Card*
Another rewards card offered by Citi, the Double Cash Card earns 2% cash back for every purchase with no annual fee. Cardholders get 1% cash back when the purchase is made, and the other 1% when it's paid off.
The Double Cash Card provides greater flexibility and a longer introductory offer for balance transfers. Cardholders get 18 months to pay off a transferred balance at 0% introductory APR (then 18.74% to 28.74% variable APR). Just be aware you'll need to complete any balance transfers within the first four months of account opening.Â
You'll be able to earn the same rate no matter where you shop. It doesn't feature the Citi Rewards+ unique round-up and redemption refund, but it does provide a longer introductory balance transfer APR and has no limit to the amount of rewards you're able to earn.
You can learn more in our Citi Double Cash Card review.
FAQs
The main difference is that 1% cash back will always equate to rewards worth 1 cent, whereas the value for points can change depending on how they are redeemed. Cards that earn rewards as points may also have more options when it comes time to redeem them.
A flat-rate credit card earns the same rewards rate no matter what you’re buying. A rewards card with multiple bonus categories will usually earn more rewards, but only for specific purchases, while earning 1x point or 1% back for any purchases outside of its bonus categories.
A credit card with an annual fee might have higher rewards rates and better perks when compared to a card without an annual fee. If you’re looking for a more advanced credit card, consider one with a fee.
However, a flat-rate credit card with no annual fee could be a good way to cover the gaps left by credit cards with multiple bonus categories. They also typically provide a less complicated experience, with some exceptions. In the end, it comes down to what you need for your individual spending habits and how the card will fit into your budget.
*All information about the Citi Rewards+ Card, Citi Double Cash Card, and the Wells Fargo Active Cash Card has been collected independently by CNET and has not been reviewed by the issuer.
