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Citi® Home Rebate Platinum Select® MasterCard® Review
Issued by CitiBank
  
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Overall Rating:
Benefit Rating:
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The Citi® Home Rebate Platinum Select® MasterCard®, issued by Citibank, is designed for those with very good credit who plan to take advantage of the rebates, which help cardholders pay for their personal mortgages.
Through the reward program, cardholders earn a full 6% rebate on Utilities, Cable/Satellite TV, Internet Connection and Telecommunications for the first twelve months of membership, and 1% per dollar spent after the introductory period and on all other purchases. The rebate is earned in the form of "Home Mortgage Rebates" that will be applied against the outstanding mortgage principal. There is no limit to the amount of rebates that may be earned, and rebates do not expire.
The APR for purchases and balance transfers is reasonable, there is no annual fee, and there is a 0% introductory rate available for balance transfers for twelve months.
However, it is important to note that there is a minimum cap of 20.99% for cash advances; so no matter how low the Prime Rate falls (the APR is tied to the Prime Rate), the interest rate will not go below the minimum cap.
As with most Citibank credit cards, cardholders can expect access to a variety of platinum benefits that include up to $1,000,000 in travel accident insurance and fraud protection services.
Therefore, those who will take advantage of the introductory offer, would like the option to carry a balance, and will be able to take advantage of the mortgage rebates will benefit most from what the Citi® Home Rebate Platinum Select® MasterCard® has to offer.
Through the reward program, cardholders earn a full 6% rebate on Utilities, Cable/Satellite TV, Internet Connection and Telecommunications for the first twelve months of membership, and 1% per dollar spent after the introductory period and on all other purchases. The rebate is earned in the form of "Home Mortgage Rebates" that will be applied against the outstanding mortgage principal. There is no limit to the amount of rebates that may be earned, and rebates do not expire.
The APR for purchases and balance transfers is reasonable, there is no annual fee, and there is a 0% introductory rate available for balance transfers for twelve months.
However, it is important to note that there is a minimum cap of 20.99% for cash advances; so no matter how low the Prime Rate falls (the APR is tied to the Prime Rate), the interest rate will not go below the minimum cap.
As with most Citibank credit cards, cardholders can expect access to a variety of platinum benefits that include up to $1,000,000 in travel accident insurance and fraud protection services.
Therefore, those who will take advantage of the introductory offer, would like the option to carry a balance, and will be able to take advantage of the mortgage rebates will benefit most from what the Citi® Home Rebate Platinum Select® MasterCard® has to offer.
Review Date: August 22, 2008
Note: The review on this card was updated on August 22, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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0% APR for 12 Months |
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Intro Applied Towards:
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Balance Transfers |
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Additional Intro Details:
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The introductory rate is available on balance transfers submitted during the first twelve months. |
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Purchase APR:
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9.99% (Variable) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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19.99% (Variable) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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20 Days (Min.) |
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Late Payment Fee:
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$15 on balances up to $100; $29 on balances of $100 up to $250; $39 on balances of $250 and over |
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Over the Limit Fee:
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$39 |
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Cash Advance Fee:
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3%, $5 minimum |
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Balance Transfer Fee:
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A balance transfer fee applies with this offer* (see site for details). |
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Minimum Credit Limit:
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$500 |
| Credit Card Reward Program Details (Rebate) | |
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Rebate Minimum:
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1% |
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Rebate Maximum:
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6% |
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Additional Rebates:
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Earn a full 6% rebate on Utilities, Cable/Satellite TV, Internet Connection and Telecommunications for 12 months. Earn a 1% rebate per dollar spent after the introductory period and on all other purchases. |
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Rebate Details:
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Rebates will automatically be sent to the cardholder's mortgage company within two billing cycles after the end of the rebate anniversary month, as listed on the cardholder's monthly billing statement. |
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Expiration:
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None |
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Yearly Limit:
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None |
| Features | |
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Most Attractive Feature(s):
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| No annual fee; no yearly limit or expiration on rebates; 6% rebate on select purchases for twelve months. | |
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Least Attractive Feature(s):
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| Minimum APR cap for cash advances. | |
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Additional Features:
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| Various Internet account related services. No liability for unauthorized purchases. Identity theft solutions. Fraud and security protection services. Lost and stolen card reporting. Emergency cash replacement. Emergency card replacement. Automatic bill payments. Up to $1,000,000 in travel accident insurance. Auto rental insurance. Various travel and emergency assistant services. Medical referral services. Legal referral services. Lost luggage assistance. Discounts on auto rentals. Year-end financial statement (upon request). See website for additional benefits. |
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Important Notations
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| See website for complete terms and conditions of card usage and application disclosure. | |
