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
|Conditions||Pretty standard set of exclusions credit cards have|
How does it fare on the Tier List?
|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.
Cash Back+ Mastercard®
New to bank*
Apple Watch SE (worth $419) or $300 via PayNow
*19 Jan to 5 Feb
$30 via PayNow
If you’re eligible for the sign-up bonus, this is a no-brainer card to add.
- 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
- 1.6% is bad for optimisers
- Missing the sign-up offer if you’re eligible