Citi Custom Cash Credit Card Review

Key Information

• Automatically earn 5% cash back in your highest eligible spend category on up to $500 in purchases each billing cycle.
• Earn 1% cash back on all other purchases.
• Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
• There is no annual fee.

Pros & Cons

Pros Explained

• Earn 5% cash back on highest spend category: This card automatically identifies your highest eligible spending category each billing period and applies an equivalent of a 5% cash back rate on qualifying purchases after the billing cycle closes. Some other cards offer similar features with lower cash back rates or the requirement to choose the category in advance.
• No annual fee: This card doesn’t require you to pay an annual fee to have the card and access the higher cash back rate and sign-up bonus.
• Redeem ThankYou Points for cash back at 1 cent per point: This card gives you a full 1 cent per point when redeeming for cash back, making cash back a reasonable redemption option.
• Sign-up bonus: Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. Some credit cards do not offer any sign-up bonuses, so this bonus is a welcome addition to this no-annual-fee credit card.

Cons Explained

• Cash back rate on all other purchases is lackluster: You only earn 1% cash back on all other purchases. Some competing cash back credit cards offer 1.5% or 2% cash back on all purchases.
• 5% cash back rate limited to $500 in monthly purchases: The 5% cash back category is a hefty cash back rate, but it only applies to the first $500 in purchases in the top eligible spend category each billing cycle. You earn 1% cash back on purchases above that cap. Some cards with similar features have higher monthly or equivalent quarterly spending caps.
• Only one higher cash back category: While earning 5% cash back is a decent earning rate, you only earn the higher rate in one category each month. Some credit cards offer multiple higher-earning rewards categories before moving all other purchases to a lower base earning rate.

Who This Card Is Best For

The Citi Custom Cash credit card is a good fit for people who don’t want to have to think about choosing a bonus spending category or activating their cash back each quarter. The card offers automatic 5% cash back in your highest eligible spending category each month on up to $500 in purchases, making the process effort-free on your behalf. People who want to maximize their overall cash back will need to pair this with a credit card that earns a higher cash back rate on all other purchases.

Citi Custom Cash Welcome Bonus

Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. The bonus dollar amount is competitive, but it requires spending more money than other similar credit card offers to earn the bonus.

You only qualify for this bonus if you have not received a bonus for opening a Citi Custom Cash account within the last 48 months. While points usually appear in your account at the end of the billing cycle when you made the purchase, bonus points may take up to two additional billing cycles to show up in your account.

Rewards Earning Details

This credit card earns you cash back at two different rates. However, the cash back is actually issued as ThankYou Rewards points, which can be redeemed for cash back at the rate of a penny each.

You’ll earn 5 ThankYou Rewards points per dollar spent in your top eligible spend category each billing cycle on up to the first $500 spent in that category per billing cycle. Any spending beyond the $500 limit in the top spending category and all other purchases earn 1 ThankYou Rewards point per dollar spent.

Eligible categories for the higher 5 ThankYou Rewards points per dollar spent rate include:

• Restaurants
• Gas stations
• Grocery stores
• Select travel
• Select transit
• Select streaming services
• Drugstores
• Home improvement stores
• Fitness clubs
• Live entertainment

The higher rewards earning rate in your top spend category is a nice bonus, especially since it is automatically calculated for you. The downside is the spending cap of only $500 that qualifies for the higher earning rate. Unfortunately, the earning rate on all other purchases is lackluster at an effective 1% cash back rate. It’s not uncommon to find cards that offer 1.5% or 2% cash back on all qualifying purchases.

ThankYou Points do not expire as long as your account stays open. However, your points may be taken away if Citi sees evidence of fraud, misuse, abuse, or suspicious activity.

Rewards Redemption Details

Since the Citi Custom Cash card technically earns ThankYou Rewards points, you aren’t limited to redeeming your rewards for cash back. Instead, you can use your rewards for several redemption options, including cash back as a direct deposit, statement credit, check, gift cards, travel, points with Amazon, and more.

Overall, the best redemption option for flexibility and value is generally redeeming your points for cash back. This particular card allows you to redeem points for cash back at a value of 1 cent per point. That said, Citi ThankYou Rewards may run specials on gift cards or other redemption options that may allow you to redeem your points at a higher rate than the 1 cent per point value cash back offers. Avoid using your points to shop at stores like Amazon, which may result in lower redemption rates, such as 0.8 cents per point.

How to Maximize Your Rewards

To maximize your rewards on this card, simply put all of your spending on it. Citi automatically calculates your highest spending category and applies the applicable higher cash back rate to that category. When you redeem points, make sure you get at least 1 cent of value per point while looking out for higher redemption options, such as gift card sales.

If you want to maximize your overall credit card rewards, consider only putting one category of purchases on this card that you know will result in either $500 per month of spending or choose your highest spending category if none would reach $500. Then, use another card that offers a higher cash back rate on all purchases to put your other purchases on.

Standard Perks

You get access to Citi Entertainment, which includes access to purchase tickets to music, sports, dining, theater, and more events. You also have the flexibility to choose the payment due date in the beginning, middle, or end of the month that works best for you.

Cardholder Experience

Citi ranked sixth out of 11 national card issuers and received a below-average score of 808 in J.D. Power’s 2022 U.S. Credit Card Satisfaction Study. The credit card does offer access to a free FICO score monthly through the Citi mobile app or Citi online. You also get 24/7 customer service as a Citi Custom Cash cardholder if you need help with your card or account.

Security Features

The Citi Custom Cash credit card offers a key security feature you may be interested in. You get access to Citi Quick Lock to instantly disable and re-enable your card from making new charges while still allowing recurring payments to go through in case you think you may have misplaced your card.

Other standard security features include Mastercard identify theft protection, $0 liability on unauthorized charges, fraud early warning, and contactless payment.

Final Verdict

The Citi Custom Cash credit card offers 5% cash back in your highest spending category on up to $500 in purchases each billing cycle. Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

This card could be ideal for people who prefer to have customized higher-earning categories that don’t require choosing a category or activating bonus cash back. When matched with a higher earning cash back card for all other purchases, such as the Citi Double Cash card, it can help you maximize your cash back.