Citi Cash Back Credit Card Review (2020)
BestCreditCards.sg's Review of Citi Cash Back Card
| Highlights | Credit Card Feature |
|---|---|
| Things We Like | 8% cashback on groceries, dining, petrol |
| Our Least Favourite | Minimum spend of $888 monthly to get high cashback |
| Our Verdict | Great card to earn 8% cashback if your monthly spend is at least $888 |
- Groceries: 8% cash back at supermarkets worldwide
- All Other Retail Spend: 0.25% cash back, no cap
- Up to S$1 million coverage when you charge your travel tickets to Citi Cash Back Credit Card
- Intro Interest p.a.
Transfer your outstanding balances on any other bank's credit card or credit line to Citibank at 0% nominal interest rate for 3/6/12 months with upfront service fee from 1.58%. Eligible for new Citibank customers who apply for Citibank Ready Credit account with minimum $500 loan.
- Annual Fee
$192.60 (first year annual fee waiver)
- Minimum Income
For Singaporeans and PRs, minimum annual income of $30,000, for foreigners $42,000.
- Standard Interest p.a.
26% per annum
Citi Cash Back Card is an immediate eye-catcher, with 8% cashback for everyday purchases like groceries, restaurants and more. That's a very high rate of cashback, and if you are looking for a credit card with real saving potential, this card is definitely worth checking out. But it does come with a catch or 2, and you need to know what these are before you apply, so you can make sure this card suits your spending habits and budget.
Here, we at BestCreditCards.sg review the benefits and limitations of Citi Cash Back Card and compare it with other cards to help you decide if this is the most rewarding cash back credit card for your shopping.
Things We Like About Citi Cash Back Card
You earn up to 8% cash back at all supermarkets and grocery stores worldwide. Every time you shop at a supermarket or grocery store, anywhere in the world, and pay with this card, you can earn up to 8% cashback.
You also get up to 8% cash back at all cafes, restaurants and other food and beverage outlets worldwide. If you like eating out, paying with this card is a good idea, because you earn up to 8% cashback on your dining purchases. You earn this high rate both in Singapore and abroad, which sets this card apart from most other cashback cards which give you different rate for local and overseas spending.
You get up tp 8% cashback for petrol purchases. Car owners should take note of this card. You earn up to 8% cashback at all other fuel stations (besides Shell and Esso).
You get 0.25% cashback on all other retail spend. Don't expect to get rich off general spending. You only earn 0.25% cashback for purchases that don't fall into the high cashback categories. Still, that's better than no rewards. You could consider using a flat-rate credit card for general purchases and keep this one for spending in the 8% categories.
Save up to 20.88% off at Esso petrol stations. Cardholders can receive a combined saving of up to 20.88% off with the Esso site discount, Esso Smiles Card discount, Citibank card discount and Citi Cash Back Card cash rebate. To make an eligible transaction make sure you use your Esso Smiles Card upon paying together with your Citi Cash Back Card, and your Citi Rebate points will be redeemed straight away to lower your bill.
Save up to 20.88% at Shell petrol stations. Make great savings at Shell stations in Singapore! Score a combined saving of 20.88% with the Shell site and Shell Escape discounts and the Citi Rebate and Citi Cash Back Card cashback programme.
The annual fee waived for the first year. The basic card annual fee of $192.60 (inclusive of GST) is waived for the first year, as is the annual fee of up to 2 supplementary cards (thereafter the annual fee for supplementary cards is $96.30 per annum).
Citi Rebate at over 300 outlets. Besides the cashback you earn, you can also earn Citi Rebate (up to 10%) by shopping at Citi partner merchants in Singapore. There are over 300 outlets (shops, restaurants, fast food, cafes) at which you can earn these extra rebates.
You can get a 0% interest rate on balance transfers for 3, 6 or 12 months when you transfer a balance from another bank's credit card or credit line to Citibank. Keep in mind that there is an upfront service fee starting at 1.58%. Eligible for new Citibank customers who apply for Citibank Ready Credit account with minimum $500 loan. After that there is a regular 26% interest per annum.
You benefit from complimentary travel insurance. If you book all airfare reservations using your Citi Cash Back Card and activate your complimentary travel insurance before you travel, you can take advantage of the complimentary travel insurance coverage (for you and your spouse and dependent children, if applicable) which comes as a benefit. Terms and conditions apply.
Our Least Favourite Things About Citi Cash Back Card
High cashback is capped at $25 Citi dollars per month. There's a cap on the extra 7.75% (above the base 0.25%) you earn for petrol purchases and purchases at grocery stores and supermarkets, restaurants, cafes, food and beverage outlets etc. $25 per month per category isn't a very high cap, and with the fantastic 8% cashback rate, you can hit that cap pretty quickly. $25 is about 8% of $313, so you will only really earn the 8% cashback on around $313 of purchases in those categories.
Minimum purchases of $888 monthly to get high cashback. This is probably our least favorite thing about this card. In order to earn the great 8% cashback, you have to charge at least $888 of purchases to your card each month.
$50 cashback before you can redeem. In order to redeem your cashback for credit on your statement, you will have to collect $50 worth of cashback rewards.
How Other Cards Compare With Citi Cash Back Card
| Intro APR: | Transfer your outstanding balances on any other bank's credit card or credit line to Citibank at 0% nominal interest rate for 3/6/12 months with upfront service fee from 1.58%. Eligible for new Citibank customers who apply for Citibank Ready Credit account with minimum $500 loan. |
|---|---|
| Regular APR: | 26% per annum |
| Annual Fee: | $192.60 (first year annual fee waiver) |
| Intro APR: | N/A |
|---|---|
| Regular APR: | 24.99% p.a. |
| Annual Fee: | S$171.20 (inclusive of GST) First Year Fee Waiver |
| Intro APR: | Transfer your outstanding balances on any other bank's credit card or credit line to OCBC at 0% nominal interest rate for 3/6/12 months with upfront processing fee starting at 1.80% |
|---|---|
| Regular APR: | 26.88% per annum |
| Annual Fee: | $192.60 a year (First 2 years free) |
Citi Cash Back Card has some of the highest cashback rates for shopping at grocery stores, supermarkets, restaurants, cafes, and other food establishments worldwide. It also has one of the best cashback rates for petrol.
Overall Citi Cash Back Card is a great cashback credit card with one of the highest cashback rates in Singapore right now. If you plan to spend at least $888 per month using a credit card, this card could suit you well. But it's important to realize that you only earn up to $25 cashback per category, per month. If you spend $888 or more per month, of which around $313 are spent on petrol, eating out, and buying groceries, you'll get the most mileage out of this card.
The low balance transfer welcome offer is a plus if you ever need to transfer credit card debt, and the petrol savings at Esso and Shell will save you money if you drive a car. Although the cash back comes with a number of catches which take getting used to, we at BestCreditCards.sg give this card 2 thumbs up.
Click here to go to the secure Citibank website to apply for the Citi Cash Back Card now.
See more Citibank credit cards.
