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The introduction of credit card is perhaps one of the most important developments in the world of finance. Since its advent, the way people purchase things or services has seen a revolutionary change. It won't amount to exaggeration when we say that credits cards have made our life more convenient and hassle free. Imagine buying an item like an air ticket from the comfort of your room, over the internet. This means saving whole lot of time and energy. It gets rid of the need for standing in long queues in front of the booking counters.
Added to the above convenience, the prime 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 tension of losing it. Moreover, they are very handy in times of emergencies.
There are several banks and financial institutions that issue credit cards of different types. Citibank is one of the leading banks in US issuing such cards which are accepted in countries all over the world.
There are many types of citicards issued by Citibank which suit different levels of budget. 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 have a look at these cards and their features.
The most popular Citibank credit card is Citi® Bronze® / AAdvantage® MasterCard®. For those regular travelers with average credit, this credit card is a must. Its reward program offers you an extra mile for every two dollars spent on the card. You can accumulate up to 25,000 miles in a year, which can be redeemed for flights on partner airlines, hundreds of hotel accommodations all over the world, and car rentals.
Others benefits are no liability for unauthorized transactions travel accident insurance and other Internet account related services. There is no annual fee. However on the flip side, there is a minimum APR cap for cash advances which is fixed at 19.99%.
Next on the popular chart is the Citi® mtvU (TM) Platinum Select® Visa® Card. It is especially designed for college students. You don't need a minimum income to activate an account. But a minimum APR for cash advances of 19.99% is applicable. There is no annual fee and it has a minimum credit limit of $ 500. The most interesting feature of this card is that you can earn a point for general purchase and for every dollar spent at restaurants, movie theaters, record stores, bookstores, and video rentals, you earn five points.
For professionals who wish to maintain and manage all of their personal and business expenses with a single credit card, Citi® Professional Card is the right choice. On general purchase one point is earned per dollar spent. For every dollar spent at certain office supply merchants, gas stations, restaurants, and on auto rentals, three points are earned. Earn a maximum of 100,000 points and redeemed them for air travels, merchandise, and gift certificate. There is no annual fee and also no minimum and maximum credit limit on this card.
For people with extremely good credit Citi® Upromise® Card is specially designed for them. With this card you can earn a 10% rebate on select purchases of over 7,000 grocery and drugstore items. If this is not enough, earn a 2% rebate on gas purchases at Exxon and Mobil locations and better still, earn 1% rebate on all other purchases.
Other popular citicards are 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 the other aspects. The credit cards issued by Citibank are designed in a way that it targets every audience and have the maximum reach.