Moneymax Reviews: Save on Essentials with a Citi Cash Back Card

Published: July 16, 2020 | Posted by: Ricky Publico | Credit Card


Citi Cash Back Card Review: Earn Rebates on Essentials

The last benefit you’ll ever think credit cards have is saving you money, right? Wrong. In fact, there are credit cards out there that can save you money on every swipe. How? By awarding you with cash rebates on specific spend categories.

We call them cashback credit cards. Fortunately, they are not that hard to find. In fact, most banks offer generous cashback credit cards to shoppers looking to maximize their purchases. And one of the popular cards you’ll see out there is the Citi Cash Back Card.

Curious about the Citi Cash Back Card? Then you came to the right place. As the third installment of Moneymax Reviews, we bring you Citibank’s own rebate generator. Find out more in this Citi Cash Back Card review.

Citi Cash Back Card Terms and Conditions

citi cash back card review - citi cash back card

Just like in every boxing match, let’s look at Citi Cash Back Card’s tale of the tape. Judging by its features, it seems the Citi Cash Back Card costs more to use and maintain. But is it worth it?

Citi Cash Back Card Features

  • Annual fee:
    • PHP 3,500 for principal cardholders (free for the first year)
    • PHP 1,750 for supplementary cardholders (free for the first year)
  • Interest rate: 3.50%
  • Minimum monthly income requirement:
    • PHP 15,000 (for existing credit cardholders)
    • PHP 20,833.33 (for new cardholders)
  • Cash advance fee: PHP 500 per withdrawal or 3% of amount
  • Monthly minimum due: PHP 500 or 1% of amount due
  • Late payment fee: PHP 850
  • Overlimit fee: PHP 750
  • Foreign transaction fee: 3.525% of amount
  • Card replacement fee: PHP 400

Read more: 7 Reasons to Get a Credit Card in the New Normal

How Much Rebate Will I Receive Monthly?

citi cash back card review - grocery shopping

Now comes the fun part: the rebates. For starters, the most cashback you’ll receive from a Citi Cash Back is 6% on supermarket purchases. This means you’ll save money every time you use it for essentials and other grocery-related items. That’s a huge help in the new normal.

You’ll also get a 2% cashback on Meralco bill payments if you pay through Citibank Online or Citi Mobile App. With Meralco bills skyrocketing in the new normal, getting a portion of your bill back is a welcome benefit of owning a Citi Cash Back Card.

And if that’s not enough, you’ll receive 0.20% cashback on all other purchases. So if you’re spending P6,000 a month on groceries, P1,000 on Meralco bills, and P10,000 on other non-essential purchases, you’ll receive P4,800 on rebates by the end of the statement year.

Note that there is a monthly cap on rebates amounting to P1,000 per month. So if you constantly shop using your Citi Cash Back Card, there’s a chance you’ll receive P12,000 worth of rebates in just one year.

Read more: Best Cashback Credit Cards in the Philippines

What Perks Can I Enjoy with My Citi Cash Back Card?

citi cash back card review - dining together

And because we’re talking about a credit card, we can’t miss talking about its perks and privileges. Fortunately, the Citi Cash Back Card has them in spades.

Aside from the cash rebates, the Citi Cash Back Card lets you access exclusive perks and discounts from partner establishments in over 90 countries. From dining promos to hotel deals, having a Citibank credit card will always be handy.

If you’re planning to buy appliances and gadgets, you can avail of Citibank’s PayLite program[1]. Enroll your big-ticket purchases into flexible installment plans of up to 24 months—complete with 0% interest. Use this to pay for utility bills, medical expenses, and even tuition fees.

To manage your credit card better, download the Citi Mobile App[2]. From there, you can settle your balance, check your purchase history, pay your bills, and other credit card-related activities. It’s always a nice perk if your credit card comes with a competent app.

And if you act fast and apply before July 31, 2020, you’ll get an SM Gift Pass worth PHP 5,000. Spend at least PHP 20,000 within 60 days of receipt and the eGift is yours.

Interested in applying for a Citi Cash Back Card? Here’s a quick review of its key features.

citi cash back card review - citi cash back card cta

Citi Cash Back Card Alternatives

citi cash back card review - alternatives

If the Citi Cash Back Card doesn’t sound exciting to you, that’s okay. You can always check out other cashback credit cards out there.

For instance, if you prefer a cashback credit card with lower fees, check out BPI Amore Visa. With a lower monthly income requirement of PHP 15,000 and an annual fee of PHP 2,050, the BPI Amore Visa is a more affordable option with cashback rates up to 4%.

But if you don’t mind paying for more, get a more premium cashback credit card like the Maybank Platinum Visa. This card earns you 1% cashback on all overseas purchases. It’s a perfect card for frequent travelers and overseas online shoppers.

Groceries aren’t your main expense? If you prefer dining rebates, then apply for an HSBC Gold Cash Back. Get 5% cashback on dining spend and up to 6% on fuel purchases. It also comes with a 1% cashback rate on department stores and overseas purchases.

And lastly, if you want another essential-centric credit card, check out Security Bank Complete Cashback Mastercard. Aside from the 5% cashback on groceries, this card also earns you 4% rebate on fuel purchases and 3% rebate on utility bills payment.

Read more: Cashback vs Rewards Credit Cards: Which Should You Get?

Final Thoughts

Cashback credit cards are always a great choice for money-savvy shoppers. Hopefully, this Citi Cash Back Card review helped in getting your foot in the door of maximizing your shopping experience. Keep your eyes peeled for the next Moneymax Reviews!

citi cash back card review - credit card cta

Sources: