Review: Citi Cash Back+ Mastercard® – Newest Unconditional Cashback Card On the Block
This came out of nowhere – Citi is entering the unconditional cashback card space with a 1.6% cashback card. “Unconditional” is a term I use to refer to cards that virtually have no requirements, earn on almost any transaction, and have no minimum spends nor maximum limits.
For people who simply do not wish to spend the time and effort (and my friends would know that I do, a lot) to micromanage their spending but still want some rewards, unconditional cards are fuss-free.
Features & Details
| Provider | Citibank |
| Type | Cashback |
| Earn Rate | 1.6% |
| Conditions | Pretty standard set of exclusions credit cards have |
| Limits | No limit |
| Apply | Click here |
How does it fare on the Tier List?
| Cashback | Miles | Winner | |
| A+ | 10% | 8 mpd | Draw |
| A | 8% | – | Cashback |
| A- | 5% | 4 mpd | Draw |
| B | 3% | 3 mpd | Miles |
| C | 2% | 2 mpd | Miles |
| D | 1.5% | 1.2 to 1.5 mpd | Miles |
(Based on cards before 12th Feb)
Unconditional cards are usually a last-resort thing, which is why they are so low on the Tier List, but they aren’t useless. Aside from people who don’t want to optimise as previously mentioned, they also shine when transactions become really big. Your 4 mpd card or 8% cashback card simply cannot handle a $20,000 transaction.
Within its tier, I think miles are the current winner because they tend to be more valuable (I value each mile at 1.25 cents) and get even more useful when you get earn a whole lot of them at once, which is what happens with large transactions.
Nevertheless, for cashback people, this is ever so slightly better than the other options available. AMEX True Cashback Card and StanChart Unlimited Card both give 1.5% cashback. A slight, perhaps negligible, win.
Sign-up bonus
Citi Cash Back+ Mastercard®
Please note there are two different promos and select carefully:
🔥
Citi Promo:
- Citi PremierMiles: 30,000 miles
- Citi Prestige: 120,000 points and more
- Citi Rewards: 40,000 points
- Citi Cash Back: S$300 cashback
- Citi SMRT: S$300 cashback
- Tap here to see Citi promos
Until 30th June 2023
Gives 1.6% cashback on all eligible transactions.
Conclusion
If you’re eligible for the sign-up bonus, this is a no-brainer card to add.
The good:
- Better than other similar cashback cards in its tier
- No minimum spending nor maximum limits
- No fussing over whether a transaction qualifies or not (most do)
- Very, very generous sign-up offer
The bad:
- 1.6% is bad for optimisers
The ugly:
- Missing the sign-up offer if you’re eligible