Citibank Credit Card

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Citibank, one of the largest American banks, offers quite a good selection of credit cards to its customers. You can apply for any of the cards that are reviewed in this article either by phone call or in the offices of Citibank (find the offices on this page). There are quite a few Citibank credit card options on offer, so you may find a card tailored exactly for your needs. Enjoy the read!

Types of Citibank Credit Card

As it was already mentioned, there are quite a few Citibank credit cards. In this review of Citibank credit cards, we will uncover 3 most popular types of Citibank credit cards. Obviously, each of the cards is aimed towards a certain audience, so you will be able to choose the one that is tailored right for your needs.

Citibank credit card

Citi Secured Mastercard Credit Card

Annual fee: $0.

APR for purchases: 21.99%.

As a matter of fact, this one of the simplest and most straightforward credit cards on the market. Even though this Citi credit card gets often criticized for a complete lack of features, there are some instances when applying for this card may turn out to be quite good and beneficial. But, indeed, you can’t compare it with other cards offered on the market.

Even though this card may be more or less good for people who have a poor credit history and who want to build a good one, there are doubts whether one should apply for this card. Many observers stick to the point of view that even people with a poor credit history can do a lot better than applying for this City Secured Mastercard Credit Card.

And there is a pretty solid ground for criticism! Usually, credit cards of this type offer additional bonuses, such as rewards on the customers’ spending or features that help to build or re-build one’s credit history. This Citi credit card, unfortunately, does not offer anything of this. If you are looking for a credit card with a solid credit line, this card is not a good place to go either. Your credit limit will depend on how big security deposit (which may vary from $200 up to $5,000) you make.

The main advantage of this Citi credit card is just a possibility of getting a credit card itself if you have a too low credit score. Except of this, the card doesn’t come with any worthwhile benefits. Though, it must be mentioned that this credit card doesn’t charge an annual fee, which is not so common among secured credit cards.

The application process for this Citi Secured Mastercard Credit Card is quite simple. You come to an office of Citibank (check the closest one here) and submit an application form. Along with the form, you should also submit a security deposit in a range from $200 up to $5,000. After it, the bank will review your application. That security deposit will be tied to your account as a collateral, and you will receive it after 18 months if you have made payments on time.

There are a few things to consider before applying for this credit card. First of all, did you declare a bankruptcy within the last two years? If the answer is “yes,” then don’t try to apply for this card – you will be refused in either case. Another thing you must be aware of is that the bank will ask you to provide the proofs of any form of income, so the bank will be able to assess your liabilities and incomes.

Citi Simplicity Credit Card

Annual fee: $0.

APR for purchases: from 14.24% to 23.24% variable.

Credit card highlights:

  • Purchase protection.
  • Travel and rental car insurance.
  • If your card gets stolen, you have $0 fraud liability.
  • This card comes with the Citi Identity Theft Solutions feature.
  • Balance transfer costs either 3% of the sum or $5 (whichever is greater).

Unlike the previous Citi credit card, Citi Simplicity Credit Card offers quite many features to its holders. Yet, it’s not just those features that make this card so valuable among the customers, but its 0% introductory APR period that is among the longest ones offered by credit cards: 21 months. Once you have opened an account and received this Citi credit card, you get a 21-month long period with 0% APR on balance transfers and purchases.

This City credit card is also known as “No Late Fees Ever,” as this card implies that you will never bear any penalty APR or late fees. Considering that some other credit cards may charge you as much as $35 for late payments and raise your APR up to $29.99%, this feature of the Citi Simplicity Credit Card appears to be very useful and worthwhile. Though, other penalties (such as damage to your credit history) may still apply.

Even though this credit card truly justifies its name, the lack of features comes along with its benefits. If you are a customer who consistently pays on time and has no monthly balance, this Citi credit card has not that much value for you. Given such conditions, you would better opt to get other credit cards than this one.

One of the major reasons for someone to consider applying for this credit card is paying off debts that were amounted on other credit cards. Unfortunately, it happens quite often when a card holder accumulated too many debts and has to pay off the interest rate instead of paying off the debt. This is a situation in which the Citi Simplicity Credit Card may help.

Unfortunately, this Citi credit card loses all its attraction right after the 21-month long introductory period ends. Considering that there are no valuable reward or loyalty programs, the Citi Simplicity credit card is not that much useful then. Besides, transferring big balances becomes quite expensive then, as the transfer fee amounts to 3%.

Citi Diamond Preferred Credit Card

Annual fee: $0.

APR for purchases: 11.99%, 16.99%, or 21.99% variable.

Credit card highlights:

  • Purchase protection.
  • Travel and rental car insurance.
  • If your card gets stolen, you have $0 fraud liability.
  • This card comes with the Citi Identity Theft Solutions feature.
  • Balance transfer costs either 3% of the sum or $5 (whichever is greater).
  • 24/7 access to the personalized service of a concierge.
  • Access to ticket presales and preferred seatings.

Another useful Citi credit card that allows the customers to consolidate their credit and debts. Same as the previous credit card, Citi Diamond Preferred Credit Card is valued for its 0% introductory APR period that lasts 21 months, which appears to be among the longest introductory APR periods on the market.

But the thing that differs this credit card from the previous one is an ability to purchase pre-sale tickets and exclusive tickets with the help of the Citi PrivatePass feature. This means that the card holders have an ability to buy out in-demand tickets via the PrivatePass website, including tickets to comedy shows, music performances and many more.

One of the things you should keep in mind before applying for this Citi credit card is that this card (as the other cards from the Citi card family) focuses more on providing the customers with low APR and non-cash features, so you shouldn’t expect to receive any rewards on the purchases you make. But, as a part of the Citi credit card family, this card also offers such features like the purchase protection, travel and rental car insurance, theft insurance and zero liability, and a personalized concierge service.

Among other notable features of this card, it is worth noting that it comes along with an EMV, a chip that is needed for using your car in Europe and Asia. But even if you decide to go abroad, it is recommended to use any other card than this Citi Diamond Preferred Credit Card. The reason for that is quite simple: the transaction fees are quite high and are equal to 3%. So, if you were going about to make a purchase of $200 abroad, you would effectively pay $206. For that purpose, we recommend using the Citi Simplicity Credit Card that comes with no foreign transaction fees.

Considering that this card is also more focused on the introductory APR period, its long-term value is quite doubtful. There are no shopping rewards you may take advantage in the future, and that is the reason why you may consider applying for a different card. But, one way or another, the card tends to be very useful in the first 21 months. If you have a good credit history, you will enjoy the low 11.99% APR after the introductory period ends.

In addition to that, we also offer you to check out the best credit card offers.

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