A Fond Farewell to A Great 0% Credit Card from Citi®
|Citi® Credit Cards|
The good folks at Citi® have decided to suspend the Driver's Edge Platinum Select credit card. This is very disappointing for us, because this card offered one of the best 0% deals around, which was:
- 0% intro APR on the initial balance transfer for 12 months
- No balance transfer transaction fee
- No annual fee
The Fed is likely to cut short-term interest rates again next month in an effort to grease the wheels of America's financial markets and ward off a recession. While this is great news for anyone with a variable-rate credit card that's tied to the Prime Rate, overall credit market conditions may get worse before they get better. Was the Citi Driver's Edge card a casualty of the credit crunch? Maybe. Is the Citi Home Rebate card the next to go? Let's hope not!
Sometimes banks resurrect cards that have been suspended, so there is hope for the Driver's Edge card. Keep your fingers crossed. If the card makes a comeback, we'll blog about it here.
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