Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Thursday, March 26, 2009

New Balance Transfer Offer with My Citi Dividend Platinum Select Card

Since the peak of the credit crisis back in the fall of last year, I hadn't seen any favorable balance transfer offers from credit card accounts I already have open. Bank of America (BofA) has been sending me lots of offers, but each of these BofA offers left a bad taste in my mouth. BofA wants me to pay a balance transfers fee and pay finance charges on the transfer fee. No thanks!

I'm happy to report that Citi® is now offering a somewhat decent balance transfer offer with my Dividend Platinum Select® card. Here it is:


Citi Balance Transfer Offer
Back in early 2007, before the credit crunch, I used to login to this Citi account and I'd be presented with at least 4 unique offers. During the roughest part of the credit crisis, however, the balance transfer section of my online account management interface contained no offers. Today I found one offer: 0% intro APR for 6 months on transferred balances, with a $75 cap on the balance transfer transaction fee. $75 is not very consumer-friendly, but when you consider that many other balance transfer deals have no cap on the transfer fee (like with the Citi® Platinum Select® MasterCard®), it's not so terrible. Will I take advantage of this offer. Nah.

We are not recommend any Citi credit cards at the www.BalanceTransfer.cc website now, for the simple reason that we believe Citigroup is a zombie bank. However, if you really must have a Citi card, visit the www.citicards.com website and you can browse all the personal, business, secured, airline, gas, student and store-branded cards they have available.

We may recommend Citi cards at some point in the future, if Citi reorganizes and becomes a responsible and commercially sound retail bank.

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