0 Interest Citi Platinum Select MasterCard

The Citi Platinum Select is a 0 interest credit card that gives you 0 interest rate on both purchases and balance transfers for the first 6 months.

After the introductory period, the APR for purchases increases to 11.99% variable, 15.99% variable or 19.99% variable depending on your application and credit history. Naturally, the better your credit history, the lower APR you can qualify for.

Most 0 interest credit requires good or even excellent credit for you to qualify. But the Citi Platinum Select allows for people with a range of credit history to qualify for the 0 interest offer by varying APRs. In a way, this is great for young people with limited credit history or people with less desirable credit history to be given a chance to build their credit.

But you have to be careful of the 0 interest rate offer being withdrawn if you were to default on any of the card member agreements with Citi. Not just defaulting on the Platinum Select MasterCard; but ANY card you have with Citi. The default rate which could be imposed on you for default is a very high 29.99% variable.

There is no 0 interest offer on cash advances and APR of 21.99% variable is levied. A cash advance fee of 3% of the cash advance amount is also applicable. Other payable charges include a Foreign fee for purchases made outside of the U.S. at 3% of the U.S. dollar amount and a 3% balance transfer fee still applies. But there is no annual fee on the card, so at least that’s one charge you don’t have to worry about.

Trying to pay off your debts on the Citi Platinum Select is not exactly easy since the 0 interest rate only lasts for 6 months. Furthermore, as with most credit cards, repayments on your debts go into paying off balances with lower APRs before those with higher APRs. But luckily, interest rates after the introductory period are fairly low, especially if you qualify for the lowest one.

Another feature with the card that will be very helpful is the $0 liability protection. We all lose their credit cards at one time or another and the biggest worry is always having someone who found it spending at our expense. Trying to get the company to write off those debts later on always becomes a big hassle. But with the $0 liability feature, you will not have to pay any purchases made on your card if you proof that those where made without your authorization. Citi Platinum Select protects you and you can be assured that your debts will not increase in situations like this.

The Citi Platnium Select MasterCard is a 0 interest credit with one of the lowest APRs in the market. While its introductory period is fairly short, it’s low APR makes it a card worth keeping for the longer term.

The Citi Platnium Select MasterCard at a glance:

Zero Percent Interest Rate:
Purchases and Balance Transfer, not applicable for Cash Advances.

Introductory Period:
6 Months.

Fees:
No Annual Fee.
Minimum finance charge - $0.50.
Fee for Foreign Purchases - 3% of the U.S. dollar amount of each purchase made outside the U.S.
Cash advance fee - 3.0% of cash advance amount, $5 minimum.
Balance transfer fee - 3.0% of balance transfer amount, $5 minimum.

Standard APRs after introductory term:
Rate 1 - 11.99%; Rate 2 - 15.99%; Rate 3 - 19.99% (based on application and credit history).
Cash Advances - 21.99%.
Default rate - 29.99%.

Eligibility:
New card members only.
Subjected to credit approval and other terms and conditions (read carefully before applying).