The introduction of the credit card is perhaps one of the most important developments in the world of finance. Since its appearance, the way people buy things or services has undergone a revolutionary change. It will not be an exaggeration to say that credit cards have made our lives more comfortable and hassle-free. Imagine buying an item like an airline ticket from the comfort of your room, over the Internet. This means saving a lot of time and energy. Eliminate the need to stand in long queues in front of reservation counters.
Adding to the above convenience, the main advantage of credit card lies in the fact that credit cards allow you to buy things on credit and you can repay the amount at a later date. As such, you don’t need to carry money or the stress of losing it. In addition, they are very useful in times of emergency.
There are several banks and financial institutions that issue credit cards of different types. Citibank is one of the leading banks in the US that issues these types of cards that are accepted in countries around the world.
There are many types of credit cards issued by Citibank to suit different budget levels. These cards differ in features such as credit limit, annual percentage rate (APR), cash advance fee, late payment fee, annual fee, additional benefits like rewards programs, etc. Let’s take a look at these cards and their features.
The most popular Citibank credit card is the Citi® Bronze®/AAdvantage® MasterCard®. For those regular travelers with average credit, this credit card is a must. Its rewards program offers you an extra mile for every two dollars spent on the card. You can earn up to 25,000 miles in a year, which can be redeemed for flights on partner airlines, hundreds of hotel stays around the world, and car rentals.
Other benefits are no liability for unauthorized transactions of travel accident insurance and other services related to the Internet account. There is no annual fee. However, on the other hand, there is a minimum APR limit for cash advances which is set at 19.99%.
Next on the popularity chart is the Citi® mtvU(TM) Platinum Select® Visa® Card. It is specially designed for college students. You do not need a minimum income to activate an account. But a minimum APR for cash advances of 19.99% applies. There is no annual fee and you have a minimum credit limit of $500. The most interesting thing about this card is that you can earn one point for general purchases and for every dollar spent at restaurants, movie theaters, record stores, bookstores and video rentals, you earn five points.
For professionals who want to maintain and manage all of their personal and business expenses with a single credit card, the Citi® Professional Card is the right choice. In general purchases you earn one point per dollar spent. For every dollar spent at certain office supply merchants, gas stations, restaurants and car rentals, three points are earned. Earn up to 100,000 points and redeem them for air travel, merchandise and gift certificates. There is no annual fee and no minimum and maximum credit limit on this card.
For people with very good credit The Citi® Upromise® card is especially designed for them. With this card, you can earn 10% cash back on select purchases of over 7,000 grocery and pharmacy items. If that’s not enough, get 2% back on gas purchases at Exxon and Mobil locations, and better yet, get 1% back on all other purchases.
Other popular cards include Citi® Home Rebate Platinum Select® MasterCard®, CitiBusiness® Card with ThankYouSM Network, AT&T Universal Rewards Card, Citi® PremierPassSM Card – Elite Level, Citi® PremierPassSM Card, CitiBusiness® PremierPassSM Card, Citi® Driver’s Edge® Platinum Select® Card, Citi® Platinum Select® Card for College Students and Citi® Dividend American Express® Card.
The above citicards are all different from each other in some or other respects. The credit cards issued by Citibank are designed in such a way that they are addressed to all audiences and have the maximum reach.