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Citi Dividend Platinum Select MasterCard Review

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Note: The Citi Dividend Platinum Select MasterCard has been replaced with the Citi Dividend Platinum Select Visa.

Who the Citi Dividend Platinum Select MasterCard Is For

  • People who want to earn cash rewards on their credit card spending.

Credit Rating Required

  • Good to Excellent (700+)

About the Citi Dividend Platinum Select MasterCard

Pros

  • Rewards earned on purchases, cash advances and balance transfers.
  • 12-month introductory preiod.

Cons

  • High redemption threshold ($50).

Rewards

  • 5% cash back on certain categories that rotate every 3 months
  • 1% cash back on everything else.
  • $5 cash back on individual balance transfers of $1,500 or more.
  • 5% cash back "on average" on purchases through Citi Bonus Cash Center.

APRs

  • Introductory rate: 0% for 12 months on purchases and balance transfers.
  • Purchases and Balance transfers: 12.99%, 17.99% or 22.99%, depending on your credit rating.
  • Cash advances: 25.24%.
  • Default rate: 29.99%.

Fees

  • No annual fee.
  • Balance transfer fee: $5 or 3%.
  • Cash advance fee: $10 or 5%.
  • Late payment fee: Up to $35
  • Returned payment fee: Up to $35.

Citi Dividend Platinum Select MasterCard Review

This card seems to have replaced the Citi CashReturns MasterCard. There's no mention of that card on Citi's website anymore.

Happily, the Citi Dividend Platinum Select MasterCard is slightly more generous than the CashReturns card, which itself had a good rewards program. You get a full 1% cash back on all purchases. Additionally, you can earn 5% cash back on purchases in selected categories that rotate each quarter, like department stores, hotels, etc. But you must sign up in order to get that additional reward.

You can also earn five percent back "on average" if you shop through Citi's Bonus Cash Center, which the bank says has more than 400 merchants. You can also earn $5 back on balance transfers of $1,500 and up.

There is a $300 annual cap on the "Dividend Dollars" you can earn on this card, although purchases made through Citi's merchant network are not subject to the cap. Rewards can only be redeemed in increments of $50, and you must request them - Citi won't send them to you automatically. Rewards will not expire as long as you make at least one purchase with the card every 12 months. However, if the program is terminated you will only have 30 days to request a redemption.

This card also offers an attractive balance transfer option: 0% on purchases and balance transfers for 12 months. After that, the APR is 12.99 to 22.99% depending on your credit history. The same rates apply on purchases.

Recommendation

This card has a better rewards program than the one it replaced. However, you would be well advised to keep an eye on your rewards. If this card gets replaced too, you'll only have 30 days to redeem your rewards.

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