MasterCard Can Do For Consumers

Category: Finance, Credit.

Have you heard about all that the Citi Driver's Edge Platinum.

This article will describe the benefits, drawbacks and various special considerations relating to the Citi Driver's Edge Platinum MasterCard. MasterCard can do for consumers? Overall it is an excellent rewards card for most people: It has a high rebate rate of 3% to 6% It rewards you for both purchases and for the miles you drive It rewards you for typical household purchases, rather than tempting you into making purchases that you wouldn' t otherwise make. For example, let's say you already spend$ 5, 000 this year at supermarkets: you' ll receive a 6% rebate for that, amounting to$ 30You' ll also earn$ 1 for every 100 miles you drive: if you typically drive 10, 000 miles per year, you' ll earn another$ 100 every year. Consumers who judge the card by its name might fall into the trap of assuming that this card is just for heavy drivers, but dig a little deeper and you' ll find it's exceptionally rewarding for almost anyone. The CFA carefully investigated this card and observed the following benefits: The rebate isn' t cash, but it can be spent on needed purchases so it's basically equivalent to receiving cash back. You can convert rebates into Citi's ThankYou Points, which you can use to get gift cards at over fifty popular retailers.

You can spend it on any automotive services, repair or maintenance. You can also apply your rebate towards the purchase of nearly any motor vehicle- - new or used, from dealers or private parties. That means you are 100% free to negotiate the best deal on a car from any dealer or individual seller. You' ll receive the rebate in the form of a check after you purchase the vehicle, and whoever you purchased it from will never know you received a rebate. The method of computing interest is average daily balance of all your purchases. After you' re approved, you can ask to have your own picture placed on the front of your card. You' re avoiding the" double- cycle average daily balance" which some credit card companies use to hike your payments.

This will help make your card more secure. Automatic travel insurance of up to$ 1, 000, 000 is received whenever you buy a plane, train or bus, ship ticket with your card. Citi also offers 24- hour fraud protection and guarantees you' ll have zero liability for unauthorized charges. Auto rental insurance coverage is received to protect you from possible collision or theft when you pay for the rental with your card. There is no annual fee. A Retail Purchase Protection feature protects your card purchases from theft or eligible damage for up to 90 days.

You can apply for a Driver's Edge card at Citi's credit card site. After the first year your rebate returns to the normal 3% rate, so at that time you may want to add the Discover Gas Card to your wallet, in order to get their 5% cash rebate on gas purchases.