topic Re: Citi Custom Cash Card in Credit Cards

Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 14:08:37 GMT

Citi has a new product offering, the Custom Cash Card.

From the website:

Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter

5% eligible categories: Restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, live entertainment.²

Earn unlimited 1% cash back on all other purchases

Sign-up bonus info:

Re: Citi Custom Cash Card

simplynoir — Thu, 10 Jun 2021 14:12:00 GMT

This is actually pretty good for a card. In fact I'm downright suspicious lol

Anyone know Citi's rules for PCing to new releases? Thinking of maybe changing my Diamond Preferred to this

Re: Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 14:13:23 GMT

This is an interesting new offering. For those who have modest spend in a category like groceries, it might be a good fit.

A few things are notable; 'Bookstores' is not a category (so no 5% off Amazon - a comparison to the old Sallie Mae came to mind here) and Walmart is excluded from the grocery category.

I have too much recent activity to apply for it, but I might consider doing a PC of my Rewards+ MasterCard if they'll let me. I'll have to think about that a bit. 🤔

Re: Citi Custom Cash Card

Brian_Earl_Spilner — Thu, 10 Jun 2021 14:13:25 GMT

Welcome to the new FOTM

Re: Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 14:14:16 GMT

@simplynoir wrote:
This is actually pretty good for a card. In fact I'm downright suspicious lol

Anyone know Citi's rules for PCing to new releases? Thinking of maybe changing my Diamond Preferred to this

Great minds think alike! I'm thinking of PCing my Rewards+.

Re: Citi Custom Cash Card

TheBoondocks — Thu, 10 Jun 2021 14:14:35 GMT

Wow I'm very amazed! How long could this card last tho?

Re: Citi Custom Cash Card

simplynoir — Thu, 10 Jun 2021 14:16:46 GMT

@TheBoondocks wrote:
Wow I'm very amazed! How long could this card last tho?

It's basically a Freedom/Flex/Discover IT/*insert 5% rotating category card* so forever? I don't see this going away at all

Re: Citi Custom Cash Card

CarbonCard — Thu, 10 Jun 2021 14:17:08 GMT

Dang it, I took a break from myFICO Forums for a few months and the first thread I see is about a tempting new product by Citi lmao 🤣

Re: Citi Custom Cash Card

simplynoir — Thu, 10 Jun 2021 14:19:46 GMT

@UncleB wrote:
@simplynoir wrote:
This is actually pretty good for a card. In fact I'm downright suspicious lol

Anyone know Citi's rules for PCing to new releases? Thinking of maybe changing my Diamond Preferred to this
Great minds think alike! I'm thinking of PCing my Rewards+.

Indeed, @Remedios would be proud 😂

If I was one to take advantage of BT offers and the like I'd keep the DP but the small spending offers they send aren't enticing enough compared to the rewards structure of this card

Re: Citi Custom Cash Card

TheBoondocks — Thu, 10 Jun 2021 14:20:17 GMT

@simplynoir wrote:
@TheBoondocks wrote:
Wow I'm very amazed! How long could this card last tho?
It's basically a Freedom/Flex/Discover IT/*insert 5% rotating category card* so forever? I don't see this going away at all

Sounds about right! Dang gonna have to cop this!

Re: Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 14:29:49 GMT

From the looks of things (the fine-print in the bonus) this is a TYP earning card, which one might assume would make a PC from another TYP card easy-peasy.

Also, sorta related, the text indicates that the 20k TYPs can be cashed-out for $200. I knew Citi had started allowing the Premier to cash-out at full 1¢/point value, but I had thought that was only for the cards with an AF. Anyway, I just checked my Rewards+ and it now has the option as well.

Now if Amex will start letting us cash-out MRs at 1¢ without messing around with gift cards we'll be getting somewhere, LOL. <off-topic>

Edited to add: I guess I now finally have motivation to convert my Double Cash to a TYP earning card.

Re: Citi Custom Cash Card

FormerCollegeDJ — Thu, 10 Jun 2021 14:31:37 GMT

@simplynoir wrote:
@TheBoondocks wrote:
Wow I'm very amazed! How long could this card last tho?
It's basically a Freedom/Flex/Discover IT/*insert 5% rotating category card* so forever? I don't see this going away at all

I view this card as being more analogous to the US Bank Cash+ and Elan Financial Services Max Cash Preferred due to the selectable 5% categories which are somewhat limited in some cases.

Re: Citi Custom Cash Card

Anonymous — Thu, 10 Jun 2021 15:45:38 GMT

I just applied and was approved. I posted about it in the approvals section.

Re: Citi Custom Cash Card

simplynoir — Thu, 10 Jun 2021 14:34:58 GMT

@FormerCollegeDJ wrote:
@simplynoir wrote:
@TheBoondocks wrote:
Wow I'm very amazed! How long could this card last tho?
It's basically a Freedom/Flex/Discover IT/*insert 5% rotating category card* so forever? I don't see this going away at all
I view this card as being more analogous to the US Bank Cash+ and Elan Financial Services Max Cash Preferred due to the selectable 5% categories which are somewhat limited in some cases.

Eh, semantics. My point was the earning structure of the card at the current 5% with the cap I believe isn't going away based on similar cards out there

Re: Citi Custom Cash Card

FormerCollegeDJ — Thu, 10 Jun 2021 14:38:06 GMT

Now I REALLY want Sears/Kmart to go out of business so I might be able to convert my Sears/Thank You Rewards Mastercard into this new Custom Cash Card.

Between this card, Wells Fargo's impending introduction of the Active Cash card (and announcement of other new cards coming), Capital One's recent upgrades on some of their cards (like the Savor and SavorOne getting groceries and streaming as 3% categories), and Chase's always aggressive offers (such as their upgrade to the Freedom Unlimited and introduction of the Freedom Flex to replace the Freedom card last year), things are good for those of us who like no annual fee cards and pursue mostly cash back rewards.

Hopefully American Express is paying attention. I know they like to focus with their cards on high spenders who travel a lot, but their no annual fee offerings are gradually becoming less competitive.

Re: Citi Custom Cash Card

FormerCollegeDJ — Thu, 10 Jun 2021 14:44:44 GMT

@simplynoir wrote:
@FormerCollegeDJ wrote:
@simplynoir wrote:
@TheBoondocks wrote:
Wow I'm very amazed! How long could this card last tho?
It's basically a Freedom/Flex/Discover IT/*insert 5% rotating category card* so forever? I don't see this going away at all
I view this card as being more analogous to the US Bank Cash+ and Elan Financial Services Max Cash Preferred due to the selectable 5% categories which are somewhat limited in some cases.
Eh, semantics. My point was the earning structure of the card at the current 5% with the cap I believe isn't going away based on similar cards out there

I concur it also has similarities to the Discover It Cash and Chase Freedom Flex and that this card isn't likely to go away soon, especially considering Citi (IMO) views itself as a major competitor to Chase and American Express as offering the best combination of credit cards.

One thing I don't like about the new Citi card is the $500 monthly limit, which is less flexible than the $1500 quarterly limit all of the other aforementioned cards (CFF, Discover It, US Bank Cash+, Elan MCP) have. It makes the Citi Custom Cash card less attractive in categories with few purchases but high spend on those purchases that aren't necessarily recurring (such as live entertainment purchases for people who attend more sports events and/or concerts at specific times of the year).

On the other hand, IMO the Custom Cash card is great for say grocery spending if you are in a 1-2 person household, such as me.

Re: Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 14:57:27 GMT

@FormerCollegeDJ wrote:
I concur it also has similarities to the Discover It Cash and Chase Freedom Flex and that this card isn't likely to go away soon, especially considering Citi (IMO) views itself as a major competitor to Chase and American Express as offering the best combination of credit cards.

One thing I don't like about the new Citi card is the $500 monthly limit, which is less flexible than the $1500 quarterly limit all of the other aforementioned cards (CFF, Discover It, US Bank Cash+, Elan MCP) have. It makes the Citi Custom Cash card less attractive in categories with few purchases but high spend on those purchases that aren't necessarily recurring (such as live entertainment purchases for people who attend more sports events and/or concerts at specific times of the year).

On the other hand, IMO the Custom Cash card is great for say grocery spending if you are in a 1-2 person household, such as me.

Yeah, the $500/month versus $1500/quarter at times isn't as useful, but the trade-off is that you're not locked-in to a single category (or two) for three months. You could do grocery stores one month, hardware stores the next, then a weekend getaway (travel) for the third. Actually, the inclusion of travel is notable in itself, since none of the other 5% cards have travel as a category.

I agree that for a single or couple, this card definitely has potential (especially for non-Walmart grocery). If it had a bookstore category it would be darn-near perfect (and this thread would already be at 100 replies, ha). It's also easy to understand why they're limiting this product to one account per person.

Re: Citi Custom Cash Card

Citylights18 — Thu, 10 Jun 2021 15:08:05 GMT

What about the Thank You points? Can you exchange them 1 to 1 with all of the Citi airline partners?

If you could it might make more sense than a Rewards+

Re: Citi Custom Cash Card

ficosuave — Thu, 10 Jun 2021 15:09:06 GMT

Citi, you have my attention.

Wells Fargo, take notes.

Re: Citi Custom Cash Card

UncleB — Thu, 10 Jun 2021 15:30:55 GMT

@Citylights18 wrote:
What about the Thank You points? Can you exchange them 1 to 1 with all of the Citi airline partners?

If you could it might make more sense than a Rewards+

This is interesting... I didn't think transferring points was possible with a no-AF card, but I poked around on my Rewards+ dashboard a bit and I found what appears to be a transfer option to JetBlue TrueBlue (they don't make it easy to find). If the Rewards+ has the option, I'll be surprised if the Custom Cash doesn't as well. (I don't know if other airlines are available to folks with more TYPs.)

I'll leave any further speculation on transfers to our resident travel gurus...