As far as honesty in a name is concerned, the Citi ThankYou® Preferred Card - Low Intro APRs does deserve an acknowledgement. The name of the card certainly notes that Citi is trying to be very welcoming to those who are looking for a solid rewards card.
The purpose of acquiring this card is not just to get great deals on merchandise thanks to the point system that comes with the account.
It is to gain access to a low cost card that allows offer many unique services to card holders.
Citi Bank as taken quite a number of steps to ensure this card brings many excellent perks to the market for credit card customers that want something special in their account. For that reason alone, the card is worth looking into.
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The APR and Annual Fee Benefits
The first thing that the Citi ThankYou® Preferred Card - Low Intro APRs notes in its promotional materials is it offers the lowest introductory APR of all the various Citi Cards available.
For those wishing to acquire a rewards card with a very fair Annual Percentage Rate, this special card might be among the best to select. The specs of the intro rate/APR are:
- 0% Intro APR
- The intro period is 15 months
After the introductory period has ended, then the variable APR will increase. The interest rate it will increase to would be in the range of 12.99% to 22.99%. The actual interest rate delivered to the account holder will be based on creditworthiness. The better a person’s credit rating is, then the lower the APR will be.
One additional point must be mentioned. This card is designed for those with Excellent credit, which is credit rated 700 or higher. Those who have weaker credit ratings may need to look for a different card.
There is also no Annual Fee associated with this card. The lack of an annual further allows the card to be less costly than would be the case with other rewards credit cards offered by different banks.
Other APR Fees
The aforementioned annual percentage rate refers to purchases made on the card. Other transactions do come with other interest rates:
- 12.99%, 17.99%, or 22.99% APR for Balance Transfers
- 25.24% APR for Cash Advances
The balance transfer rate is based on creditworthiness. Those who do take advantage of the balance transfer options will pay the greater of 3% of the balance transfer fee or $5, whichever amount is the greater one.
The cash advance APR will vary based on market factors.
The Rewards Program
The main selling point to the card would be its rewards program. This is likely the top reason why so many may be attracted to it and wish to apply. The rewards come in the form of Thank You points and they are definitely quite generous. Those who apply for the ThankYou card will be able to access:
- 2 points for every $1 spent at preferred establishments listed in the rewards program
- 1 point for every $1 spent on other purchases
The 2x points benefit is commonly geared towards dining and entertainment purchases. One of the most appealing of all the benefits associated with the rewards program would be there is no expiration. The amount of the points accumulated can be unlimited.
The ThankYou points can be redeemed for a great many different items including:
- Retail Merchandise
- Travel Rewards
- Gift Cards
- Cash Payments
The great variety of the different ways in which the points can be redeemed ensures account holders can get the most out of their membership with the card and program.
Traveling with the Card
Among the main reasons people look for a solid credit card is they want one that offers a host of benefits while traveling. No matter how much someone wishes to have a smooth time while on the proverbial road, unfortunate problems may arise when traveling.
Having access to the right credit card can aid in overcoming such issues.
There are scores of unique travel related benefits with this card.
The following overview shows quite a number of these benefits:
Chip Technology
Thanks to the advanced chip in the card, it can be accepted at scores of different locations in the world. Compatibility becomes less of a concern because the chip expands the ability for the card to be used in different locations.
Travel Assistance Services
Whether you are traveling in the United States or in a foreign country, you can take advantage of assistance services that are made available when an unfortunate emergency arises. Emergencies can be related to:
- Legal and Medical Problems
- Lost Luggage
- Emergency Transportation
Access to such services can be enormously helpful when traveling because it makes travel much smoother and more worry free.
Personal Concierge Service
The Personal Concierge Service can be accessed when traveling or even when home. There are quite a number of helpful features that can be accessed by merely making a phone call.
If a plane flight needs to be booked or hotel and dining arrangements must be made, calling on the concierge service could end up being the best strategy to employ. The process is easy and can be performed relatively quickly by the professionals who work on behalf of the card service.
Travel Insurance Benefits
Once again, it is always the wish of those who are traveling that their experience remains a perfectly fine and not entail any unforeseen mishaps, the truth is problems do arise and can arise without warning.
In some cases, they can be very costly. To help cover the costs associated with such mishaps, the CitiBank ThankYou Rewards Card offers:
- Automatic Travel Accident Insurance
- Auto Rental Insurance
- Lost Luggage Coverage
- Trip Cancellation/Interruption Coverage
Travel accident insurance is available for the member, his/her spouse, and eligible dependent children are covered when bus, train, or plane tickers are purchased with the card. The coverage is automatic.
Insurance for auto rentals covers theft and physical damage on a rental vehicle that is eligible. Not all vehicles are covered through and members do have declined the rental company’s offers for a loss, damage, and collision waiver. The totality of the rental transaction must be paid with this credit card.
The lost luggage coverage made available is quite generous. Coverage is available for members and dependents. The entirety of the carrier fare must be paid for with the Citi Card.
Up to a full $3,000 in coverage is made available to cover costs associated with lost, stolen, or damaged luggage checked with a carrier.
Trip cancellation/interruption coverage can be acquired for upwards of $1,500. The coverage helps protect you in the unfortunate scenario where you have to cancel your trip without warning.
Unique Features Associated with the Card
There are several unique features associated with this particular card. They can be considered some of the very helpful unique benefits that this special rewards card makes available to members who would prefer a solid card that makes using a charge account more helpful.
Simple things such as offering maximum flexibility in choosing a payment date can be considered enormously helpful to those who otherwise would be locked into a strict payment date with another card.
Even seemingly little things such as this are really not so little when you stop to look at the value gained from it.
A Photocard is made available to those looking for added security. No one wishes to see their card stolen and used without their permission.
However, such occurrences can and do occur. To cut down on the potential for this occurring, a card with a photo on it can alert retailers when someone steals the card and attempts to make a charge.
Penalties and Fiscal Responsibilities with a Citi Card
One of the most critically important points about this or any credit card is all payments must be made on time. The use of the card must adhere to the various established terms of use.
A penalty APR will be issued under two circumstances:
- A payment is late
- A payment is returned due to insufficient funds
The amount of the penalty will be 29.99%.
A fee will be charged in both instances in addition to the increase in the annual percentage rate. For both instances, a fee of up to $35 will be levied against the account.
Interest charges will be zero if the full balance of the account is paid within 23 days of the billing cycle.
Making a Decision
For those looking for a credit card with very low interest rates, an excellent rewards program, and a host of different features, the Citi ThankYou® Preferred Card - Low Intro APRs card might be the best one to apply for.
The card truly does offer many features and it remains one of the top cards Citi has made available.
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