8 Best Citi Rewards Credit Card Benefits: 8 Key Facts & How to Apply Get more out of your purchases with the Citi Rewards Credit Card.

Hey there, friends! Let’s talk about something that’s become a big part of our lives in this digital age: credit cards. They’re not just pieces of plastic anymore; they’re tools for managing our money and scoring some sweet rewards. And when it comes to earning lots of points and getting cool perks, the Citi Rewards Credit Card is a top choice, especially for us Indians. So, I thought I’d break it all down for you in simple terms and discuss about Citi rewards credit card benefits. So, let’s dig in!

Understanding Rewards Credit Cards

Alright, before we dive into the specifics of the Citi Rewards Credit Card, let’s get the basics straight. Reward credit cards are like your ticket to earning points as reward or miles every time you swipe. And what do you do with these points? Well, you can cash them in for all sorts of goodies like travel vouchers, cashback, or even cool gadgets. Now, there are mainly two types of reward programs out there:

1. Flat-rate programs: You get a fixed number of points for every rupee you spend, no matter what you’re buying.
2. Tiered programs: These babies give you bonus points for specific types of spending, like groceries or travel.

Also Read: How to Pay UPI Using Credit Card in 2024: Step-by-Step Guide

Why Choose the Citi Rewards Credit Card?

So, what makes the Citi Rewards Credit Card stand out from the crowd? Here’s the scoop:

1. Lucrative Points Earning: This card offers a tiered reward structure, which means you earn points faster, especially when you shop for clothes or hit up departmental stores.
2. Rewarding Points System: For every Rs. 125 you spend, you earn 1 Reward Point. But here’s the kicker – you score a whopping 10 points per Rs. 125 at certain stores.
3. Welcome Bonus: New to the club? You can snag up to 2,500 bonus points just by activating your card and making your first purchase within 30 days.
4. Flexibility in Redemption: Got points burning a hole in your pocket? You can trade them for fuel, travel miles, gadgets, or just knock off some bucks from your bill.
5. Never Expiring Points: Unlike some other schemes, your points with the Citi Rewards Card never expire. So, you can take your time and redeem them whenever you’re ready.
6. Extra Goodies: Depending on which version of the card you pick, you might get some cool extras like free airport lounge access or discounts on movie tickets and dining.

Is the Citi Rewards Credit Card Right for You?

Now, let’s see if this card’s a good fit for your wallet:

Love shopping for clothes or at Departmental Stores: The extra rewards you get at these stores are perfect for those who enjoy spending money on clothes, gadgets, or things for their home.
Want Options: With this card, you’ve got tons of choices for redeeming your points, whether it’s for travel, shopping, or just knocking off some bucks from your bill.
Plan for the long term: Your points won’t expire, so you can save them up for big rewards.

But, if you:

Rarely Use Credit Cards: If you don’t utilize the card frequently, you will not get as much out of the rewards program.
Spend mostly on things that don’t earn bonus points: You might be better off with a different card.
Dislike Annual Fees: Remember, this card usually comes with a fee, so consider if it’s worth it for you.

Citi Rewards Credit Card Benefits

Let’s talk about the actual rewards that come with this card:

1. Reward Structure: Earn 1 Reward Point for every Rs. 125 you spend. But wait, there’s more! Spend at certain stores, and you’ll score 10 points per Rs. 125.
2. Welcome Bonus: Newbies get a warm welcome with up to 2,500 bonus points just for activating their card and hitting the spending target within a month.
3. Milestone Perks: Spend more, earn more! Hit a spending milestone, and you might bag some bonus points.
4. Fuel Surcharge Waiver: No surcharge at IndianOil outlets when you spend above a certain amount. That’s some serious savings at the pump!
5. Points Forever: Your points are like fine wine; they only get better with age. They’ll never expire!
6. Redemption Options: Trade your points for fuel, travel miles, gadgets, or just shave off some bucks from your bill.
7. Dining Privileges: Depending on your card type, you might get some sweet discounts at restaurants.
8. Special Offers: Citi frequently offers additional benefits and discounts on various categories like shopping, movies, and travel.

Here’s how you can get benefits worth Rs. 5000+ in first year:

Source: https://www.online.citibank.co.in/portal/newgen/cards/tab/pdf/TandC.pdf

How Do I Apply for the Citibank Rewards Credit Card?

Ready to join the club? Here’s how to apply:

1. Online: Head to the Citibank website and fill out the form with your details.
2. Offline: Swing by your nearest Citibank branch, grab a physical form, fill it out, and hand it in.

Eligibility for the Citibank Rewards Credit Card

Before you get too excited, make sure you meet these criteria:

1. Indian resident with a valid PAN card.
2. 18 years or older.
3. A steady income and hit a minimum salary threshold.
4. A decent credit score.

Documents Needed for the Citibank Rewards Credit Card

When applying, don’t forget to bring along:

1. Proof of Identity (like your passport or driving license).
2. Proof of Address (think electricity or telephone bills or rental agreements).
3. Proof of Income (your latest salary slips or tax returns).

How Much Does It Cost?

Yep, there’s an annual fee too. But here is the deal: the amount of fee can change depending on which version of the card you opt for. And here is one more fun thing – some versions of card might waive that fee if you spend enough and hit certain spending targets within a set time-frame each year. So, before you go ahead and apply, make sure you take a good look at the fee details for the version you are going to get. It’s all about making sure you’re getting the best reward for your spending.

Annual Fee	Rs. 1,000 (waived off on spending Rs. 30,000 in the preceding year)
Late payment charges	No charge for up to ₹1000 outstanding balance ₹450 for between ₹1000 upto ₹5000 ₹700 for between ₹5000 upto ₹10,000 ₹950 for above ₹10,000
Fee on cash payment at branches	₹250 per deposit at branches
Fee on cash payment at atms	₹100 per deposit at ATM
Card replacement fee	₹100
Cash withdrawal fee	2.5% on advanced amount, subject to minimum of ₹500

Pros and Cons of Having a Citi Rewards Credit Card

Alright, let’s sum up the good and the not-so-good about the Citi Rewards Credit Card:

Pros	Cons
Earn points easily, especially when buying clothes or shopping at stores.	There’s an annual fee for the card, but it might be waived if you spend enough.
Plenty of options to use your points, from saving on fuel to enjoying free trips.	Points may accumulate slower for certain purchases compared to other cards.
Get a welcome bonus when you first sign up, with potential for more bonuses later on.	Other cards might offer better rewards for travel enthusiasts.
Points never expire, allowing you to save them for future rewards.	Approval for the card requires a good financial history, including timely bill payments.
Depending on the card type, enjoy additional perks like airport lounge access or dining privileges.

Final Thoughts

The Citi Rewards Credit Card is like that friend who always has your back. If you are all about flexibility, love to get sweet deals and the earning points that never expires, it could be your new best friend. But before making any decision it is essential to consider the annual fee and weigh that against the perks it offers depending on your spending patterns. Make sure it fits your spending style. Ready to make your wallet a happier place? Then Citi Rewards Credit Card is just for you.

Sources:

• Citibank Rewards credit card: eligibility, fee, features & benefits: https://cred.club/credit-card-bill-payment-online/articles/citibank-rewards-credit-card-eligibility-fee-features
• Citi Rewards Card Offers & Benefits: https://www.credithita.com/credit-card/citi-rewards-credit-card