Citi Custom Cash Card Review 2023 - Earn 5% Cash Back | Citi.com

The Citi Custom Cash Card is a new addition to Citibank's credit card lineup, and it offers cashback rewards on eligible purchases. This credit card allows users to earn up to 5% cashback on purchases in categories that they choose, making it a highly customizable option for those who want to maximize their rewards. With no annual fees associated with the Citi Custom Cash Card, it is an attractive option for those who want to avoid unnecessary charges.

If you're looking for a credit card that offers flexibility and customization, the Citi Custom Cash Card might just be what you need. Unlike other Citibank cards like the Citi Double Cash Card or the Citi Premier Card, this one is specifically designed to cater to your needs and preferences. You can pick from a variety of categories such as restaurants, gas stations, grocery stores, select travel and more where you can earn 5% cashback.

So how does the Citi Custom Cash Card work? It's simple: once you get approved for the card issuer will provide you with a list of categories where you can earn 5% cashback (up to $500 spent per month). You'll need to activate your chosen category each quarter through your online account or by phone. If you don't activate any category during a quarter, all purchases will default to earning 1% cashback.

One of the best things about this credit card is its introductory offer - 0% APR on purchases and balance transfers for a limited time. This feature gives users the opportunity to make time payments without accruing interest charges.

Another great feature of the Citi Custom Cash Card is its online platform which allows users easy access to billing cycles, direct deposit options and redemption options such as gift cards or statement credits.

Benefits of the Citi Custom Cash Card's Cash Back Rewards Program

Elevated Cash Back Rates on Bonus Categories

The Citi Custom Cash Card's cash back rewards program is one of the most lucrative in the market, offering elevated cash back rates on a variety of bonus categories. With this card, users can earn up to 5% cash back in specific categories such as grocery stores, gas stations, restaurants, and select travel categories. This means that cardholders can earn significant rewards on their everyday spending habits.

For example, if a user spends $500 per month on groceries using the Citi Custom Cash Card, they could potentially earn $300 in cash back rewards annually. Similarly, if a user spends $100 per week on gas using this card, they could potentially earn $260 in cash back rewards annually. These rewards can add up quickly and provide significant value to users who frequently spend in these bonus categories.

Unlimited 1% Cash Back Rewards on All Other Purchases

In addition to earning elevated cash back rates on bonus categories, the Citi Custom Cash Card also offers an unlimited 1% cash back on all other purchases. This means that users can earn rewards no matter where they shop or what they buy. While the 1% rate may not seem high compared to the elevated rates offered for bonus categories, it still provides value and can add up over time.

For instance, if a user spends $500 per month on non-bonus category purchases using this card, they could potentially earn $60 in cash back rewards annually. This may not seem like much at first glance but consider that this is essentially free money earned just by making purchases with the card.

Bonus Cash Back Reward for New Cardholders

The Citi Custom Cash Card also offers an attractive sign-up bonus for new cardholders. Users can earn a bonus cash back reward of $200 after spending $750 in purchases within the first three months of account opening. This provides an extra incentive for users to start earning rewards quickly and can help offset the cost of any initial purchases made with the card.

Double Cash Back Rewards by Converting to ThankYou Points

One unique feature of the Citi Custom Cash Card is that users can automatically earn double cash back rewards by converting their cash back into ThankYou Points. This means that for every dollar earned in cash back, users will also receive one ThankYou Point. These points can be redeemed for travel, merchandise, gift cards, and more.

For example, if a user earns $100 in cash back rewards using this card, they will also receive 100 ThankYou Points. These points can then be redeemed for various items such as a $100 statement credit or a $125 gift card to popular retailers such as Amazon or Best Buy. This provides an additional layer of value to the card's rewards program and allows users to get even more out of their earned rewards.

Drawbacks of the Citi Custom Cash Card

Limited Bonus Categories

The Citi Custom Cash card offers 5% cash back on purchases in rotating categories, but these categories are limited to just one per quarter. This means that customers may not always be able to take advantage of the bonus rewards for purchases they make regularly. The card only offers 1% cash back on all other purchases, which is lower than many other rewards cards on the market.

No Sign-Up Bonus

Unlike many other credit cards, the Citi Custom Cash card does not offer a sign-up bonus for new customers. This can be a drawback for those who are looking to maximize their rewards early on and get more value out of their spending. While the ongoing rewards structure can still be beneficial over time, a lack of initial bonus can be disappointing for some.

High APR for Balance Transfers and Cash Advances

The Citi Custom Cash card has a high APR for balance transfers and cash advances compared to other credit cards. This means that customers who plan to use these features may end up paying more in interest charges over time. It's important to weigh the potential benefits of using these features against the added cost of higher interest rates.

Foreign Transaction Fees

Customers who frequently travel internationally may find that the Citi Custom Cash card is not as beneficial as other credit cards due to its foreign transaction fees. These fees can add up quickly, especially if customers are making frequent purchases abroad or traveling frequently.

No Intro APR Period for Purchases or Balance Transfers

Unlike some other credit cards, the Citi Custom Cash card does not offer an introductory period with 0% APR for either purchases or balance transfers. This means that customers will start accruing interest charges immediately after opening their account and making transactions.

Requires Excellent Credit for Approval

The Citi Custom Cash card requires excellent credit for approval, which may make it difficult for some consumers to qualify. Those with less-than-perfect credit scores may need to look for other credit card options with lower approval requirements.

How to Determine if the Citi Custom Cash Card is Worth Applying for in 2023

Consider Your Spending Habits

When determining if the Citi Custom Cash Card is worth applying for in 2023, it's important to consider your spending habits. The card offers 5% cashback on purchases made in categories that you get to choose, with a limit of $500 cashback per billing cycle. This means that you can earn up to $6,000 in cashback rewards each year.

To decide if this card is right for you, take a look at your regular purchases and see if they align with the available categories. Some examples of eligible categories include restaurants, gas stations, supermarkets, and select travel expenses. If you frequently spend money in these areas, then the Citi Custom Cash Card could be a great option for maximizing your rewards.

Evaluate the Annual Fee

Another factor to consider when deciding if the Citi Custom Cash Card is worth applying for is the annual fee. As of 2021, there is no annual fee associated with this card. However, it's possible that this could change in the future.

If an annual fee does come into play, make sure to evaluate whether or not the rewards earned will offset this cost. For example, if the annual fee is $100 and you earn $200 in cashback rewards each year with this card, then it would be worth it to keep using it.

Take Advantage of Sign-Up Bonuses

When applying for any credit card, it's always a good idea to look out for sign-up bonuses or introductory offers that may be available at the time of application. These bonuses can provide an extra boost to your rewards earnings and help make up for any potential fees associated with using the card.

For example, at the time of writing this post (September 2021), new applicants can receive a $200 bonus after spending $750 within their first three months of account opening.

Compare to Other Cashback Cards

While the Citi Custom Cash Card may seem like a great option for earning cashback rewards, it's always important to compare it to other cashback credit cards on the market. This will help ensure that you are getting the best value for your spending.

Consider factors such as annual fees, rewards rates, and any additional perks or benefits offered by each card. By doing your research and comparing different options, you can make an informed decision about which card is right for you.

Assess Your Credit Score

Finally, before applying for the Citi Custom Cash Card (or any credit card), take a look at your credit score and financial situation. This will help give you an idea of whether or not you are likely to be approved for the card.

If your credit score is low or if you have a lot of outstanding debt, then it may be difficult to get approved for this particular card. In this case, consider working on improving your credit score before applying or looking into alternative credit cards that may be more suitable for your current financial situation.

Current Welcome Offer and a Deeper Look into the Current Card Offer

Initial Bonus Offer

The Citi Custom Cash Card is currently offering a welcome bonus of $200 for new applicants who spend $750 on new purchases within the first three months of account opening. This intro offer is competitive compared to other credit card offers in the market, and it can be easily achieved by most cardholders. The initial bonus offer is an excellent way to earn cash back on your everyday purchases while taking advantage of the welcome bonus.

Rewards Program

In addition to the welcome bonus, the Citi Custom Cash Card offers a unique rewards program that allows cardholders to earn 5% cash back on their top eligible spending category each billing cycle. Unlike other cards, this rewards program does not have any restrictions or caps on how much you can earn in cashback rewards. This feature makes it an attractive option for those who want to maximize their earnings without worrying about limits.

No Annual Fee

One of the best features of the Citi Custom Cash Card is that it does not have an annual fee, making it a great option for those looking for a no-frills credit card. You won't have to worry about paying extra fees just to use your card or earning rewards. This means that you can keep your card open without having to worry about paying an annual fee every year.

Other Features

While the Citi Custom Cash Card may not have all the premium features of a premier card, its simple rewards structure and lack of fees make it an attractive option for those looking for a straightforward credit card. Redemption options for the Citi Custom Cash Card include statement credits, gift cards, and direct deposit, giving cardholders flexibility in how they choose to use their cash back rewards.

Best Cards to Pair with the Citi Custom Cash Card

Pairing the Citi Custom Cash Card with other rewards cards can help you maximize your benefits and earn even more rewards. Here are some of the best cards to pair with the Citi Custom Cash Card:

Citi Double Cash Card

The Citi Double Cash Card is an excellent option to pair with the Citi Custom Cash Card for cashback rewards. The Citi Double Cash Card offers 2% cashback on all purchases - 1% when you make a purchase and another 1% when you pay it off. By pairing this card with the Citi Custom Cash Card, you can earn 5% cashback in your top eligible spending category each billing cycle, up to $500 spent per month, and then earn unlimited 1% cashback on all other purchases.

Citi Premier Card

If you frequently travel, pairing the Citi Custom Cash Card with the Citi Premier Card can be a great way to earn travel rewards. The Citi Premier Card offers 3x points on airfare, hotels, gas stations, restaurants, supermarkets and 1x point on all other purchases. By pairing this card with the Citi Custom Cash Card, you can earn 5% cashback in your top eligible spending category each billing cycle up to $500 spent per month and then earn unlimited 1% cashback on all other purchases while also earning travel points.

American Airlines AAdvantage MileUp Card

Another great option to pair with the Citi Custom Cash Card for airline miles is the American Airlines AAdvantage MileUp card. This card offers double miles on American Airlines purchases as well as at grocery stores. You'll also get a bonus of 10k miles after making $500 in purchases within three months of account opening. By using this card alongside your Citibank custom cash credit card, you can maximize your earnings by earning extra airline miles from American Airlines.

Hilton Honors American Express Card

If you prefer hotel rewards, pairing the Citi Custom Cash Card with the Hilton Honors American Express Card can help you earn Hilton Honors points. The Hilton Honors American Express Card offers 7x points on eligible purchases at hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants, U.S. supermarkets, and U.S. gas stations, and 3x points on all other eligible purchases. By using this card alongside your Citibank custom cash credit card, you can maximize your earnings by earning extra hotel points from Hilton.

Comparison of Citi Custom Cash vs. Other Popular Cash Back Cards

Citi Custom Cash vs. Other Popular Cash Back Cards

Citi Custom Cash is a credit card that offers a unique rewards structure that sets it apart from other popular cash back cards like Citi Double Cash and Freedom Flex. While these cards offer flat-rate cash back on all purchases, Citi Custom Cash allows cardholders to earn 5% cash back on their top eligible spending category each billing cycle, which can include gas stations and home improvement stores.

Compared to the best credit cards for cash back, Citi Custom Cash's rewards program stands out as a top contender due to its flexibility and ability to earn high rewards in a variety of spending categories. By offering 5% cash back on the top eligible spend category each billing cycle, Citi Custom Cash provides an opportunity for cardholders to earn more rewards than other popular cash back cards that only offer a flat rate on all purchases.

When comparing the Citi Custom Cash card with other popular cash back cards like the Citi Double Cash or Freedom Flex, there are several key differences to consider. For example, while both of these cards offer competitive rates of return on certain types of spending (such as groceries or dining), they do not allow users to earn bonus points or cashback in specific categories like gas stations or home improvement stores.

Moreover, unlike other Citibank credit cards such as the Double Cash Card or Rewards+ Card, which require users to enroll in quarterly bonus categories and track their spending habits closely in order to maximize their rewards potential, the Citi Custom Cash Card is designed specifically for simplicity and ease-of-use.

How to Use ThankYou Points for Max Value, Adding Additional ThankYou Point-Earning Cards

Maximizing the Value of Your ThankYou Points

Redeeming your ThankYou Points can be a great way to get more value out of your credit card rewards. Here are some tips for using your points effectively and adding additional cards to your portfolio to earn even more points.

Redeeming Your ThankYou Points

ThankYou Points can be redeemed for a variety of rewards, including travel, gift cards, merchandise, and statement credits. However, if you want to get the most value out of your points, consider redeeming them for travel purchases or transferring them to airline partners.

When you use your points to book travel through the Citi Travel Center, each point is worth 1 cent. However, when you transfer your points to one of Citi's airline partners, such as JetBlue or Singapore Airlines, you may be able to get even more value out of them. For example, by transferring 60,000 ThankYou Points to Singapore Airlines' KrisFlyer program, you could book a round-trip flight from the U.S. to Europe in business class.

Earning Additional ThankYou Points

If you want to earn even more ThankYou Points, consider adding additional cards that earn these rewards to your portfolio. One option is the Citi Premier Card which earns 3x points on airfare and hotels and 2x points on dining and entertainment. Another option is the Citi Rewards+ Card which rounds up every purchase made with it so that cardholders earn at least 10 points per transaction.

The scoring formula for earning ThankYou Points varies depending on the card but typically includes bonus categories and a base rate for non-bonus spending. For example, with the Citi Custom Cash Card mentioned earlier in this article (note: this part should be removed), cardholders earn 5% cashback on their top eligible spending category each billing cycle (up to $500 spent) and then earn 1% cashback on all other purchases. By adding this card to your portfolio, you can earn even more points on your everyday spending.

Credit Limit on the Citi Custom Cash Card

Credit cards have become an essential part of our daily lives, and choosing the right one can be a daunting task. The Citi Custom Cash Card is a popular choice among many credit card users due to its rewards program and cashback incentives. However, before applying for this card, it's crucial to understand its credit limit and how it works.

Determining the Credit Limit

When you apply for the Citi Custom Cash Card, your creditworthiness and income will determine your credit limit. If you have good credit, chances are that you will receive a higher credit limit than someone with poor or no credit history. Your income also plays a significant role in determining your credit limit since it shows how much money you can afford to pay back each month.

Requesting a Credit Limit Increase

If you've been using your Citi Custom Cash Card responsibly for six months, you may request a credit limit increase. However, approval is not guaranteed and may require a hard inquiry on your credit report. A hard inquiry can temporarily lower your score by a few points but shouldn't affect it significantly if done sparingly.

Spending Cap

The Citi Custom Cash Card has a spending cap of $500 per billing cycle for the 5% cashback categories. However, there is no overall limit on the amount of cashback that can be earned. This means that if you spend more than $10,000 in any category during the year, you'll still earn 1% cashback on all purchases made after reaching that threshold.

Statement Credits

Statement credits earned from the card's rewards program can be used to offset purchases or as statement credits towards the account balance. This means that instead of receiving cash back directly into your bank account, you can use it to pay off future purchases or reduce your outstanding balance.

Balance Transfers

If you're looking to transfer balances from other credit cards to your Citi Custom Cash Card, keep in mind that balance transfers are subject to a fee of either $5 or 3% of the transfer amount, whichever is greater. Balance transfers count towards the card's credit limit. This means that if you have a $10,000 credit limit and transfer a balance of $5,000, your available credit will be reduced to $5,000 until you pay off the transferred amount.

Is the Citi Custom Cash Card Right for You?

In conclusion, the Citi Custom Cash Card is a great option for those who are looking for a simple cash back rewards program with no annual fee. Its unique feature of automatically adjusting to your spending habits and offering 5% cash back in your top eligible category each billing cycle makes it an appealing choice for those who want to maximize their rewards without putting in too much effort.

However, it is important to note that this card may not be the best fit for everyone. The lack of bonus categories may not appeal to those who spend heavily on specific categories such as travel or dining. The foreign transaction fee and limited redemption options may make it less attractive for frequent international travelers.

If you are considering applying for the Citi Custom Cash Card in 2023, it is important to evaluate your spending habits and determine if this card aligns with your financial goals. If you are someone who spends consistently across various categories and wants a hassle-free way to earn cash back, then this card could be a great fit for you.