IndiaLends Advisory

By IndiaLends Advisory

Mar 13, 2018

Citi Cashback Credit Card: A Complete Review

Card Rating- ⅘

This is the perfect card for individuals in the medium spending category looking to earn cashback on their everyday spends, while not wanting to pay a high annual fee.

The Good & The Bad



  • Up to 5% cashback on every spend
  • 15% off on dining at 2000+ partner restaurants
  • Direct statement credit of cashback
  • Easy EMI facility available
  • Exclusive offers with leading brands through Citibank privileges
  • Low annual fee
  • Variable interest rate
  • No welcome gift
  • Slightly high-interest rate

Why Go For The Card?

The point of a cashback credit card is to do away with the entire process of redeeming the reward points, and getting direct cashback in the card statement itself. And the Citi Cashback credit card serves the purpose quite well.

There are various reasons to go for the card:

Related: Apply For Citibank Credit Card

Like any other card on the planet, the Citibank Cashback credit card also falls short in some aspects. You can find them here:

  1. Unlike most other cards that provide bonus points, or vouchers upon joining, this card does not provide any welcome gift to the users.
  2. The 5% cashback on the movies, utility bill payments, and telephone bill payments is capped at ₹100 each. Additionally, the utility bill payments cashback can only be claimed if the bill payments are made through Citibank Online Bill Pay.
  3. The interest rate, even though it is variable, can feel slightly high at times.

Also, remember that the card is a cashback card. And if you are someone who is looking for reward points, this is definitely not the card for you.

Points to Consider:

  1. Default/Missed Payment Charges:

    If you are someone who defaults or misses card payments often, the card might feel slightly costly to you. The interest charges can go as high as 3.50% per month. So, if you are missed a payment of ₹10,000, you can expect to pay anywhere around ₹350 in interest for the month, and up to ₹4,200 for the year.

  2. Late Payment Charges:

    If your minimum amount due is not paid by the due date, then you will have to bear late payment charges in addition to the interest rate charged. The late payment charges depend upon your outstanding amount and are ₹300 on the minimum.

  3. Transactions in foreign currency:

    If you make an overseas transaction, or one in foreign currency, you will be charged a foreign currency fee for the same at the rate of 3.5%. Say you charge $100 on the card. You will be charged 3.5% of the INR equivalent of a $100, i.e. 3.5% of ₹6,500. This will be ₹195. So, for someone who makes overseas transactions, or transactions on foreign currency often, this can start to feel costly. However, remember that most cards levy such charges at the rate or 2 to 4%.

  4. Cash Advance Fee:

    The Cash Advance Fee on the card is set at a minimum of ₹500, or 2.5% of the amount, whichever is higher. However, remember that most other cards would charge you the same or higher for a cash transaction.

Features and Details Summary

 Annual fee


Primary Feature

Up to 5% cashback on every spend.

Interest Rate for missed/ default payment

Up to 3.50% per month, i.e. (42.00% annually)

Late payment charges

₹300 for current balance up to ₹10000
₹600 for current balance from ₹10001 – ₹25000
₹950 for current balance above ₹25000

Cash Advance fee

2.5% (minimum of ₹500)

Yay or Nay?

This card is a definite yay! If you are a mid-range spender and like to get cash back every month, this is the card for you. The card is a delight to use, since you don’t have to worry about remembering to redeem the points. It also comes with the Citibank privileges, that not only get you a standing 15% off on dining across a host of restaurants, it also gets you some of the best deals across the biggest brands. What’s more? If you apply online now, you could get instant approval.