NEW YORK—A major card issuer has introduced a brand-new credit card with a novel rewards structure.
Citi has just launched the no-annual-fee Citi Custom Cash Card, and it’s out to give other 5% cash-back cards some stiff competition, stated Business Insider.
“It’s got a solid welcome bonus: $200 in cash back, fulfilled as 20,000 Thank You Points after you spend $750 on purchases in the first three months of account opening. You’ll earn 5% cash back (5x Citi ThankYou points) on the eligible category you spend the most in each billing cycle, on up to $500 in total spending (then 1%), and 1% back (1x Citi ThankYou points) on all other purchases,” Business Insider reported.
Those perks work out to an average of $250 a month, which should be attainable for most people just with regular spending, Business Insider said.
“The card's real strength is in its 5% categories, and how easy Citi makes it to earn this bonus,” Business Insider explained.