[NEW CARD] Citi Cash Back+ Card Review: 1.6% Cashback On All Spend

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There’s a new card in town, the Citi Cash Back+ Card, that aims to give you competitive cashback across all spending categories.

With its new card, Citi Cash Back+ Card, Citi is offering a product that caters to users who prefer a simple and convenient way of earning cashback on their spend. Let’s take a look at who it’s good for and how it fares against other credit cards. 

Reasons to get the NEW Citi Cash Back+ Card

#1 Enjoy competitive cashback rate of 1.6%

Earn 1.6% cashback on all your credit card spend, anytime and anywhere, regardless of the category you spend in.  

#2 No minimum spend required 

Earn 1.6% cashback regardless of how much you spend, even if it’s just $10. 

#3 No cap on cashback earned

The sky’s the limit. Even if you are a big spender and can shell out thousands of dollars each month, the amount you can earn in cashback is not limited. 

#4 Cashback you earn does not expire 

The cashback that you earn from your spending goes back into your card account and will not expire. You can also redeem your cashback instantly on-the-go with Citi Pay with Points or for cash rebate via SMS.

#5 Enjoy savings on petrol 

You can get a 14% discount at both Esso and Shell Stations. Here’s how the discount is calculated: 

  • 14% at Esso Stations: 5% Esso site discount + 5% Esso Smiles card discount + 4% Citi Card discount 
  • 14% at Shell Stations: 5% Shell site discount + 5% Shell Escape discount + 4% Citi Card discount 

#6 First-year annual fee waiver 

Your annual fee of $192.60 will be waived for the first year. 

Who should get the NEW Citi Cash Back+ card? 

If you want a cashback card that’s good for all categories

Different credit cards have different cashback rates for specific categories. These may include groceries, dining, petrol, travel, retail, entertainment and more. For those that do not want the hassle of trying to optimise your spending for the different categories, the Citi Cash Back+ Card could be a great credit card to have in your wallet. With the Citi Cash Back+ Card, you will be earning some form of cash back regardless of what you buy (i.e. which category you spend on) and how much you spend. 

If you want a cashback card but don’t want to be subjected to a minimum spend criteria

Some cashback cards only give you higher cashback rates if you hit the minimum spend. However, for many fresh graduates and those starting their career, it is unlikely that you will be spending so much every month. With no minimum spend imposed, you can earn 1.6% cashback regardless of how much you spend. 

You can choose to apply for the Citi PremierMiles Visa, Citi Prestige and Citi Rewards Card to receive $200 cash. This means you can enjoy $200 in cash even if you are a miles lover. 

Note: On top of the existing 1.6% cashback that you earn through the Citi Cash Back+ Card, Citibank is offering an additional 2.9% in bonus cashback, if you sign up on the Citibank website. This bonus rate will be applied to the first $5,000 eligible spend made during the first 3 months and is thus capped at $145. This offer is available directly on the Citibank website only.

Citi Cash Back+ Mastercard Promotion

Citi Cash Back+ Mastercard promotion: If you are looking to get the Citi Cash Back+ Mastercard, you can get yourself $250 cash via PayNow when you apply now till 7th April 2020. This promotion is exclusive to those that sign up through SingSaver. Terms and Conditions apply.

Existing Citibank credit card holders will get $30 cash via PayNow.

Credit cards similar to NEW Citi Cash Back+ Card

Here are 5 credit cards in the market that are similar to the Citi Cash Back+ Card

  1. Standard Chartered Unlimited Credit Card: The Standard Chartered Unlimited credit card offers cardholders 1.5% cashback with no minimum spend and no cap. If you have an Unlimited$aver Account with Standard Chartered Bank, you earn a higher cashback rate of 5%.
  2. Maybank FC Barcelona Visa Signature Card: Gives 1.6% unlimited cash rebates on all your local spend with no cap and no minimum spend required.
  3. American Express True Cashback Card: You can earn 1.5% cashback on all spend with no cap and no minimum spend required. Your first $5,000 spend during the first 6 months will get you a cool 3% cashback. 
  4. HSBC Advance Credit Card: Get 1.5% cashback on all purchases when you spend less than $2,000. You can earn 2.5% cashback with the HSBC Advance credit card when you spend more than $2,000 a month. HSBC Advance banking customers get an additional 1% cashback, giving them a cashback rate of 3.5% 
  5. CIMB World Mastercard: CIMB Mastercard holders get 2% unlimited cashback on these categories: wine & dine, entertainment & recreation, automobile and duty-free store purchases. 1.5% unlimited cashback on all other spend with no minimum spend required. 

With 1.6% cashback on all your spending, the Citi Cash Back+ Card makes a great option for those looking for a go-to cashback card to use across multiple categories.

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By Ching Sue Mae
A flat white, an adventure-filled travel and a good workout is her fuel. Sue Mae enjoys sharing knowledge on personal finance while chasing the dream of financial independence.