The Citi Platinum Select MasterCard is a bare-bones, no frills platinum credit card. The best feature of this Citi card is its long term 0% APR on balance transfers which currently lasts 18 months. This is one of the longest balance transfer offers currently on the market. The Citi Platinum Select Card also offers a 0% APR on purchases for 18 months.
Who Benefits from the Citi Platinum Select MasterCard
The combination of an extremely long 0% introductory interest rate and low balance transfer fees makes this an ideal balance transfer credit card. The Citi Platinum Select Card’s 0% for 18 month balance transfer offer is about six months longer than average offers and, despite its length, comes with a low 3% balance transfer fee.
In addition to balance transfers, the Citi Platinum Card is also a good choice for consumers who want a 0% interest rate on purchases. Once the 0% balance transfer and purchase rates expire, the long term interest rate can range from a low of 11.99% variable to as much as 21.99% variable. Applicants with the best credit will likely get the lowest rates, while those who barely qualify will get higher rates. Unfortunately, the long term APR is not revealed until after applications have been submitted. This is true of most credit cards, and thus is not an issue that makes the Citi Platinum Card less appealing.
Who Can Benefit More with a Different Credit Card
Consumers who don’t have credit card balances to transfer, don’t need a 0% interest rate for new purchases and don’t carry balances from month to month will likely benefit more from a credit card that offers no annual fee rewards. Heavy credit card spenders who pay in full every month stand to benefit the least from the Citi Platinum Select Card, as purchases don’t earn rewards.
A general drawback of this and all Citi credit cards is customer service. Citi historically ranks near the bottom of J.D. Power’s annual customer satisfaction survey. However, poor customer service shouldn’t deter consumers who stand to benefit significantly from the Platinum Select Card’s long 0% interest rates.
Final Thoughts on the Citi Platinum Card
The Citi Platinum Select Card is an outstanding card for 0% APR balance transfers, a good card for 0% rates on purchases and overall a good low interest credit card. Just about anyone who has credit card debt they can’t repay immediately can benefit substantially by taking advantage of this card’s generous balance transfer offer. However, those who don’t need a 0% APR or low interest rate are likely better off with a rewards credit card.
To review the fine print, please see the Citi Platinum Select Mastercard Application.
