Reward credit card users love to earn cash back from their general spending, but it are the bonus rewards that really excite them. The Citi Dividend Platinum Select® Visa® card is one of several cards on the market that offer 1% cash back on most purchases, and 5% cash back on purchases from categories of merchants that change each month.
Getting the most cash back
The key to earning the most cash back from this card is understanding how it works. Cardholders earn 5% cash back on purchases from eligible merchants that change each quarter. For example, in the third quarter of 2013, (July 1st to September 30th), cardholders earn 5% cash back from car rental companies, theme parks, movie theaters, and at all hotel brands owned by Hilton. Future bonus categories have not yet been announced.
Cardholders must go online to activate these bonus categories. Thankfully, enrollment begins about 15 days before each quarter starts, and lasts through the end of the quarter. In addition, cardholders can spend up to $6,000 dollars on purchases that qualify for the 5% cash back, after which all purchases will only return the usual 1% cash back.
Cardholder earn $100 cash back after spending $500 within the first three months of opening an account. Note that the three months begins when the account is approved, not when the cards are mailed, activated, or used. Therefore, most cardholders will actually have fewer than three months in which to meet the minimum spending requirements.
Cardholders also receive several other valuable benefits such as travel accident insurance, auto rental insurance, lost luggage coverage, trip cancellation insurance, extended warranty, and retail purchase protection. In addition, purchases are eligible for Citi’s Price Rewind service which automatically returns the difference when a product drops in price by $25 or more within 30 days.
New cardholders receive 12 months of 0% APR financing on both new purchases and balance transfers, but with a 3% balance transfer fee. Qualifying balance transfers much be completed within four months of opening an account. Again, the four months begins when the account is approved, not when the card is received, activated, or used.
By understanding how to get the most from their cards, holders of Citi’s Dividend Platinum Select can earn great rewards and enjoy the valuable benefits of this leading card.
You can learn more about this offer and apply online below.