NEW YORK–(BUSINESS WIRE)–Today, Citi is launching another kind of no annual fee* cash back credit card: Citi Custom Cash. The card automatically adapts to cardholders’ ever-changing spending needs and rewards them with 5% cash back on their most eligible spending category – ranging from restaurants to grocery stores to select streaming and travel plus more – each billing cycle up to the first $500 paid. issued, and 1% cashback on all other purchases. Making money with Citi Custom Cash is easier than ever, without cardholders having to manually select, enroll or change reward categories periodically; instead, the map automatically adjusts to where their spending is trending.
In addition, new cardholders receive a bonus offer of $200 cash back after spending $750 on purchases within the first 3 months of account opening, as well as a low introductory rate on purchases and balance transfers for 15 months.
The Citi Custom Cash card is a perfect choice for all customers who want to be rewarded for just being themselves. In fact, recent research from Citi shows that 82% of Millennials’ spending varies from month to month based on their changing interests and priorities, and 87% express a desire for a credit card that does the work for them to maximize their rewards on based on their changing spending patterns.
And redemption is just as easy and flexible. Cashback is earned in the form of ThankYou Points, which can be exchanged for cash as a direct deposit, check or statement. Or cardholders can choose other ways to redeem points, including redemption for gift cards, charitable donations, travel, shopping with points on Amazon.com, and more.
“We heard from customers that there is a strong desire to carry a card that keeps up with them and automatically adapts to their ever-changing lifestyle,” said Pam Habner, head of US Branded Cards and Unsecured Lending at Citi. “That’s why the new Citi Custom Cash card is an industry game changer, allowing customers to earn and redeem rewards their way.”
According to the millennials surveyed, more than a third (36%) said their spending has changed in the past year and that their current credit cards aren’t rewarding their new spending habits. And going forward, this group is eager to resume their favorite activities and be rewarded for doing so, reporting that they are most looking forward to traveling (66%), going to a restaurant (45%), going to a concert (31 %), going to a party (25%) and going to a personal workout or fitness class (17%). For many consumers, cash back is the fuel that powers these activities, so much so that more than two-thirds of millennials (69%) say it’s absolutely essential or very important for them to get cash back when applying for a refund. new credit card.
The most eligible spending categories of the Custom Cash Card are: restaurants, gas stations, grocery stores, select streaming services, select travel, select transit, hardware stores, fitness clubs, live entertainment, and drug stores.
For more information about the new Custom Cash Card, please visit citi.com/customcash.
* Citi Custom Cash℠ Card Prices and Information: Introductory rate of 0% for 15 months from the date of account opening on purchases and a 0% introductory rate for 15 months from date of first transfer for balance transfers. After the introductory period ends, your default APR for purchases will be applied to unpaid promotional balances, new purchases, and new balance transfers. The default variable APR for purchases for the Citi Custom Cash℠ Card is 13.99% – 23.99% based on your creditworthiness. The default variable APR for Citi Flex Plan is 13.99% – 23.99%, based on your creditworthiness. The default variable APR for cash advances is 25.24%. The variable penalty APR is a maximum of 29.99%. Minimum Interest Fee – $0.50. Annual Fee — None. Foreign Purchase Fee — 3% of any US dollar purchase transaction. Cash Advance Fee – either $10 or 5% of the amount of each cash advance, whichever is greater. Balance Transfer Fee – $5 or 5% of the amount of each transfer, whichever is greater.
2021 Citi Custom Cash Card Survey
The Citi Custom Cash Card Survey was conducted by Harris Poll of 1,009 U.S. adults ages 25-34, between May 5 and May 13, using an email invitation and an online survey.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi offers consumers, businesses, governments and institutions a wide range of financial products and services, including consumer banking and credit, corporate and investment banking, stock brokerage, transaction services and wealth management.
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