Credit cards are a boon to the financial industry as well as to the common man. They have also fueled the retail market. From buying general stuffs in a store to booking a ticket over the Internet or shopping online, credits cards have made it all possible.
It won’t be an exaggeration to state that credit card has changed our lifestyle in a big way. This plastic money has made our life simpler and more convenient. What can be more convenient than buying items on credit and repaying them after a month?
Picture this! You are hit by an unexpected emergency situation for which you require large amount money. Well in such an urgent situation credit cards are most convenient way out.
Citibank is one of leading banks in the world, which issues credit cards. Though the basics of credit card are same, its additional features differ from bank to bank and also from card to card.
Citicards are especially designed to suit various credit requirements and target different customers. There are cards, which are designed keeping in mind the requirement of professionals, students, and other potential customers. The credit limit also differs suiting the need of different income levels.
One common feature of citicards is that all of them have interesting reward programs and additional perks and benefits. These reward programs come in the form of points that are earned on purchase of item. You can redeem the accumulated points in other purchases. These reward programs are again designed to suit people from different walks of life. A regular traveler can use these points for booking flight tickets and for booking stays in hotels. Others can use them in general purchase, in drug stores, gas stations and in restaurants etc. Citibank has tie-ups with major retails outlets, hotels, and airlines etc. all over the world where you can redeem your points collected. Yet another advantage of citicards is that you get additional benefits and perks like travel accident insurance, legal referral services, medicinal referral services, free access to credit education etc.
Most of the citicards have no annual fee and 0% introductory rate on balance transfer for a fixed period which is either six months or one year. However, most of them carry a minimum APR for cash advances. $500 is the standard minimum credit limit. Late payment fee depend on the balance. But on the whole they are all fixed at reasonable rates.
These cards are to be renewed after their validity period lapses. The expiry date is in most cases three years from the date the card is issued.
Some of the most popular citicards are Citi® Bronze®/AAdvantage® MasterCard®, Citi® mtvU(TM) Platinum Select® Visa® Card for College Students, Citi® Platinum Select® Card for College Students, Citi® Driver’s Edge® Platinum Select® Card etc.
Citi® Bronze®/AAdvantage® MasterCard® is most suitable for frequent air travelers. On the purchase of this card, you will earn a bonus of 5,000 miles and thereafter 1 mile for every two dollars spent on your citicard. Besides, it carries no annual fee and is valid for 3 years. So it’s a traveler’s delight. The only feature, which may work against your interest, is its minimum APR on cash advances.
For people who wish to purchase or lease a used or new car, the Citi® Driver’s Edge® Platinum Select® Card is the right choice. With this card you can earn a rebate of $0.01 per mile driven. Earn up to $1,000 in rebates in a year. A maximum of $5,000 can be redeemed per vehicle. Also avail other benefits such as auto rental insurance and travel insurance of up to $1,000,000.
College students can either apply for Citi® Platinum Select® Card for College Students or Citi® mtvU(TM) Platinum Select® Visa® Card for College Students. The former is suitable for students with an established credit history. For first-timers the latter will be more suitable.