Deal of the Month: Citi Dividend Platinum Select Visa
May 1, 2013
By: Joe Taylor
Despite a crowded market for cash back cards, the Citi® Dividend Platinum Select® Visa® Card earns our Deal of the Month nod for landing the right bonus reward offer at the right time. New cardholders can claim $100 in cash back after making only $500 in purchases. Although this card offers just a 1 percent rebate on everyday transactions, a few of its other benefits make this a great deal if you're making some large purchases for your home this spring.
Bonus rewards on springtime home improvements
Like other popular cash back credit cards, the Citi Dividend Platinum Select Visa Card offers quarterly bonus promotions. Opt in to this period's special deal, and you'll score 5 percent cash back on purchases at The Home Depot, as well as at most home furnishing stores or home and garden centers. Your potential rebate maxes out at $300 per calendar year, so that means you'll get the most from this card if you plan to spend less than $6,000 on eligible home purchases.
The extra cash back and a zero APR introductory rate make this card a better deal than most store credit cards for homeowners who plan to pay off purchases within a year. While parents may consider using this card to set up recent college grads with new home furnishings, the student version of this account offers the same rewards and just a slightly shorter teaser period. Although the redemption process on this card lacks some flexibility -- you can only redeem rewards in increments of $50 -- a few major purchases can quickly help you hit your goal.
Money-saving benefits behind the scenes
Citi's Price Rewind service lets you register each big ticket purchase, like a television or a gas grill. Price Rewind's system will monitor the online price of your item for thirty days. If your vendor doesn't automatically offer price protection, Citi will take care of making an adjustment to your statement when the cost of your item drops by more than $25.
You're covered for up to $1,000 in adjustments per year, helping you get over the fear that you'll miss out on a flash sale or a quick price drop. Lose or break that same item within 90 days, and Citi will pay for up to $1,000 in replacement or repair costs. While other cash back credit cards may offer more generous rebates, Citi's proactive approach to saving money benefits cardholders who prefer to make a few larger purchases every year.
The CardRatings.com editorial staff highlights one credit card each month that we believe offers exceptional value and convenience for consumers. We review card details including but not limited to sign-up bonuses, rates and fees, discounts, benefits, limited-time promotions, and customer service. Offers surveyed include American Express, Capital One, Chase, Citi, Discover, and other MasterCard- and Visa-branded cards.