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The Citi Dividend Platinum Select sounds okay on paper: 5% cash back in rotating categories that change quarterly, 12 months of 0% interest on purchases and balance transfers, and no annual fee. But when you consider the competition, the Platinum Select doesn’t have too much going for it.
Paying down debt
If you’re already swimming in debt, the Dividend Platinum Select offers a chance to get rid of your balance interest-free. There’s no purchase or transfer APR for the first 12 months. In addition, you earn 5% cash back in bonus categories that change quarterly and 1% elsewhere – but only up to $300 in rewards earned annually. That’s $6,000 of bonus spending total, or $1,500 in bonus spending per quarter. Finally, you’ll get a Earn $100 cash back after $500 in purchases within the first 3 months of account opening. signup bonus for your trouble. Here are the Citi Dividend Platinum Select’s 2013 bonus categories:
- January – March (Q1): Drugstores, fitness clubs, Zappos.com
- April – June (Q2): Home furnishing stores, home and garden, and Home Depot
- July – September (Q3): TBA
- October – December (Q4): TBA
Not the only fish in the 5% sea
There are a lot of 5% cash back cards out there, enough to make the American Idol auditions look like a ghost town. And we’d argue that, in its own way, each card is able to beat out Citi. At first glance, they’re all the same: 5% on rotating categories that change every quarter. But…
Discover It: Longer 0% period, better bonus malls
Chase Freedom: Longer 0% period, better rewards
- Q1 (January – March): Gas, drugstores and Starbucks
- Q2 (April – June): Restaurants and movie theaters
- Q3 (July – September): Gas, theme parks and Kohl’s
- Q4 (October – December): Amazon.com and “select department stores”
That’s 5% back for half the year on gas, and during the holiday season, you’ll get a bonus in key shopping categories.
US Bank Cash+: Better rewards, greater choice
on US Bank's
on US Bank's