Review: Citizens Bank Cash Back Plus World MasterCard

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Updated on Friday, November 20, 2015

Review: Citizens Bank Cash Back Plus

Citizens Bank Cash Back Plus® World Mastercard® lets you earn 1.8% cash back on all eligible purchases. The card places no limits on the amount of cash back you can earn, no rotating categories to keep track of or activate, and no annual fee.

How To Apply

You can apply for the Citizens Bank Cash Back Plus® World Mastercard® either online or by calling customer service at 1-800-684-2222 Monday through Friday from 7 am to 1 am EST, or Saturday and Sunday from 7 am to midnight EST.

Be prepared with the following information:

  • Personal: You name, address, phone number, Social Security number, and birth date
  • Employment: Place of employment and length of employment
  • Income: Current income, plus any mortgage payments

The application should take about 10 minutes to complete. After your application is submitted, a confirmation page will appear on your screen. Once you application has been processed, Citizens Bank will contact you will approval or denial.

Perks

The Citizens Bank Cash Back Plus® World Mastercard® boasts a simple cash back rate, but in reality, it’s not quite that simple.

The good news is that you will earn 1.8% cash back on all eligible purchases.

You will receive a 10% Purchase Bonus on your earned cash back rewards when you make at least one purchase every month for 6 consecutive months or more. Your first Purchase Bonus will be credited on the seventh month, assuming you meet the criteria. As long as you continue to make one purchase each consecutive month, you can continue to receive the bonus, which will be credited monthly on the previous month’s cash back rewards.

This card also offers a 10% Relationship Bonus on your earned cash back rewards and Purchase Bonus when you choose to have them deposited directly into your Citizens Bank personal checking, savings, or money market account.

Taking advantage of both of these bonuses on top of the existing opportunity to earn 1.8% cash back on all eligible purchases.

For balance transfers, you get a 0.00% introductory APR for the first fifteen billing cycles from date of account opening. Once the promotion period ends, the APR goes to 16.99% - 24.99% Variable.

There are no foreign transaction fees, no penalty APRs for late payments, and Zero Liability Protection against unauthorized purchases. This card also offers Extended Warranty Protection, which doubles the manufacturer’s original warranty up to 2 years, and 120 day of price protection.

The Fine Print

Cash back rewards or bonuses, such as the Purchase Bonus and Relationship Bonus can only be redeemed in increments of $25. They can only be direct deposited into a Citizens Bank personal checking, savings, or money market account or given as a Credit Card Statement Credit. You cannot deposit the rewards to an account outside of Citizens Bank or receive your rewards by mail.

If you choose to complete a balance transfer with this card, you will be charged either $10 or 4% of the amount of each transfer, whichever is greater.

There is no introductory period for purchases with the Citizens Bank Cash Back Plus® World Mastercard®. The APR for purchases will be 16.99% - 24.99% Variable based on creditworthiness, and starting as soon as the account is opened. You will not know your APR until you apply.

The APR for cash advances is 23.74% Variable. A Cash advance will also be charged either $10 or up to 3% of the amount of each advance, whichever is greater.

If you make your payment late, you could be charged a fee of up to $38, but there are no fees for returned payments or going over your credit limit. This card also does not charge a penalty APR for late payments.

Pros

  • Earn 1.8% cash back on all eligible purchases.
  • Additional 0.03% cash back bonuses can be earned
  • No limit to the amount of cash back you can earn
  • $0 annual fee
  • No penalty APR for late payments
  • 0.00% introductory APR for the first fifteen billing cycles from date of account opening. (16.99% - 24.99% Variable APR, after)
  • No foreign transaction fees
  • Zero liability protection against unauthorized purchases
  • 120 day price protection
  • Extended Warranty protection, Trip Cancellation Insurance, and Trip Interruption Insurance

Cons

  • 16.99% - 24.99% Variable APR for everyday purchases based on creditworthiness
  • Will not know your rate until you apply
  • Purchase and Relationship Bonuses can be complicated to earn
  • Only two ways to receive your cash back rewards: direct deposit into a qualifying Citizens Bank account, or as a Credit Card Statement Credit
  • Up to $38 late payment fee
  • Either $10 or 4% of the amount of each transfer, whichever is greater.
  • APR after 0% balance transfer period is 16.99% - 24.99% Variable, based on creditworthiness
  • 23.74% Variable APR for cash advances, plus either $10 or up to 3% of the amount of each advance, whichever is greater.

How It Stacks Up

The Citi® Double Cash Card – 18 month BT offer earns cash back twice on every purchase with a $0 annual fee and no rotating categories. You Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.. The APR can range from 13.99% – 23.99% (Variable), but as long as you can make your payments on time you can earn more cash back than with the Citizens Bank Cash Back Plus® World Mastercard®.

The Citizens Bank Cash Back Plus® World Mastercard® lets you earn 1.8% cash back on all eligible purchases. If you have good credit, then you should explore higher earning cards first, but regardless, this card offers a good cash back rate and simple terms.

The information related to Citi® Double Cash Card – 18 month BT offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

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