Pros: Great interest rate, friendly and helpful customer service.
Cons: They don't pay my bill?! (None!)
I have had a Citibank credit card since 1996. I originally had a Citibank Visa which allowed you to earn money towards a new Ford vehicle. However, about a year ago, Citibank changed their program to cover ALL makes and models of cars. The card is now called Driver's Edge Mastercard and you accumulate money to use towards any car you want. In speaking with many people, this is one of the few if only cards which offer this option. Most credit cards let you earn money for only one brand of car. For instance, my mom's credit card only lets her earn money for new Buicks. This isn't a problem if you know you are only going to buy Buicks, but you may change your mind. The money earned expires 3 years from the date it is earned. I think this is a reasonable amount of time to spend this money. Of course if you're like me, you forget to use it!! However, I did remember to use my earned money on my previous card and had no problems doing this.
The interest rate for purchases on my card is only 17.4%. They also offered me a great interest rate to transfer balances from other credit cards. I transferred a high balance from another card and until this entire amount is paid off, the interest rate on it is only 6.9%. It never changes! I know this is hard to believe. I have never heard of another card which keeps the rate the same on a transferred balance until it is paid off. Most cards have an "introductory" interest rate for about 6 months on transferred balances. When I transferred the money, there was a one time fee of $25. Now, they charge a percentage of the amount being transferred. It is nominal and still only a one time fee.
Another feature of the card which I really like is that free of charge, they put a color picture of you on the front of the credit card. They also put a copy of your signature on the front of the card. I have had a lot of positive comments from cashiers when using this card. They like the fact my picture is on the front of the card. It helps keep other people from using your card if it gets stolen. Again, I think Citibank is one of the few companies to offer this feature.
I have also had one instance where a company I ordered from off of television tried to overcharge my credit card. Citibank quickly and efficiently handled this for me. I didn't have to try and contact the company at all. I simply called Citibank and they handled the whole situation for me, credited my account the amount charged and the interest related to it. I was not forced to deal with the company who was charging my account without my authorization. For anyone who has dealt with unauthorized charges to your credit card, this is an important benefit when looking for a credit card.
Each month I get a detailed statement with my new charges listed and two separate interest charges clearly listed, one being for my transferred balance and the other for my new charges. I asked customer service how much of my monthly payment was applied to the current charges which are at a higher rate than my transferred balance and was told that approximately 60% was put towards the lower interest balance and the other 40% of my payment was put towards my higher interest balance. I don't think this is that bad. Of course they are going to apply more of your payment to the lower interest balance, they wouldn't be a credit card company if they didn't make some money!
Overall, I think the Citibank Driver's Edge is a great credit card to have. I have never been disappointed with them. I forgot to mention there is no annual fee. I didn't even have to ask for this. They have never tried to charge me an annual fee. I feel very secure when using my Citibank card and I know that if I ever was to lose the card that not only would it be hard for someone to use it with my picture and signature on the front, if they did use it, Citibank would take care of it for me. What more can you ask for from a credit card company? OK, it would be nice if they paid the bill!!!
To contact Citibank Driver's Edge Card call 1-800-967-8500.