The Citi® Driver's Edge® Platinum Select® Card, issued by Citibank, is designed for those with very good credit who would like to earn rebates toward the purchase or lease of any new or used car, foreign or domestic.
The card provides a rebate of 6% for supermarket, gas station, and drugstore purchases during the first twelve months, 3% thereafter, and 1% on all other purchases. Cardholders can also earn Drive Rebates at a rate of $0.01 per mile driven. Up to $1,000 in rebates can be earned toward a vehicle during any twelve consecutive months, and any unused rebates expire in five years. The maximum amount of rebates that can be redeemed is $5,000 per vehicle. Rebates can also be used for the payment of maintenance, service, or repair performed on a vehicle. Rebates can also be converted into ThankYou Network® Points and redeemed through the ThankYou Network®.
The card offers a reasonable interest rate for purchases (as compared to other reward cards), and it has no annual fee. In addition, the card offers a 0% introductory rate on balance transfers for twelve months. It is important to note that there is a minimum cap for cash advances; so no matter how low the Prime Rate falls (the APR is tied to the Prime Rate), the interest rate will not go below the minimum cap.
This card offers a variety of benefits and services provided by Citibank, such as auto rental insurance, various security features, and up to $1,000,000 in travel accident insurance.
Therefore, those who plan to take advantage of the 6% rebate for supermarket, gas station, and drugstore purchases during the first twelve months (3% thereafter) and plan on driving long distances (to earn additional Drive Rebates) will benefit most from what the Citi® Driver's Edge® Platinum Select® Card has to offer.
Updated: July 5, 2006
Most Attractive Feature(s) : Long term 0% introductory rate; 6% rebate for first twelve months; no annual fee.
Least Attractive Feature(s) : Minimum cap for cash advances.
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