First Credit

Citi Platinum Select Card Review

If you are looking to cut the interest on any current credit cards you have, and take advantage of a highly rated card that is ideal for balance transfers, then the Citi Platinum Select could well be the card for you. This MasterCard carrier comes with 0% APR on both balance transfers and purchases for an introductory 21 months. After this interim period the percentage raises from between 11.99% and 21.99% depending on your credit score, however the 21 months prior should be plenty of time to pay off any outstanding card debt.

It is important to weigh up the pros and cons of any credit card to see if it suits your needs as a consumer. Luckily with the Citi Platinum Select the positives outweigh the negatives; here we will take an in-depth look at this card.

Credit Score Requirements

Firstly, what are the eligibility factors for the Citi Platinum Select. This card is only for those with good to excellent credit scores, with the average acceptance score being in the low 700’s. It is worth mentioning there are cases of scores of the mid 600’s being accepted, but these are comfortably the exception and not the rule.

Pros

One of the first things you will notice about the Citi Platinum Select is the level of security offered to its holders. There is little worse in the material world than being a victim of identity theft or fraud; but as a holder of a Platinum Select you are protected against unauthorized use of your card. Of course this is not a preventative measure, but is a comfort in knowing that you will not be paying if someone decides to take a holiday illegally at your expense.

The level of customer care and accessibility offered by Citibank to Citi Platinum Select users is commendable. Citi offer an email alert service which reminds you of upcoming payment dates and an impending breach of your credit limit. This may seem a simple feature, but it is very useful, as is the ability for Platinum Select card holders to access their account online.

Some other features which are worth mentioning range from having free travel and car rental insurance through to access to emergency card replacement if your Citi Platinum Select is lost.

Cons

Many similar balance transfer cards offer some kind of rewards program or cash back on purchases, unfortunately this is not offered by the Citi Platinum Select. While this is not a major gripe, it will mean some are put off by it.

For purchases made outside of the U.S there is a charge fee. It is not an incredibly taxing charge, and equates to around 3% of any purchase made against the dollar, regardless of currency. Again this is not a huge problem, but some may wish to shop around on the back of this charge.

Summary

Despite the above mentioned issues, the Platinum Select is an extremely good card, and even those put off by the cons are unlikely to find an over-all better package that meets other more important demands. With no annual fees, the Citi Platinum Select is perfect for those looking to consolidate under one card and take advantage of the low introductory interest rate. See also, Citi Dividend Platinum Select, Citi Diamond Preferred Rewards Card, Citi Platinum AAdvantage Card, and Citi Diamond Preferred Card.