Citi Dividend Cash Back Card Still Available As Downgrade

Last year I applied for several Citi AAdvantage Executive Mastercards and in the process received multiple whopping 100,000 mile sign-up bonuses. As the annual fee on the card is $450 I wasn’t terribly thrilled about keeping them, so I called in to see what I could do to avoid the fee.

I explained to the representative at Citi that I haven’t used the card and benefits as much as I had planned, and wanted to either cancel or downgrade the card to one with no annual fee. She tried to sell the regular Platinum AA World Mastercard and the Citi Double Cash card, but I specifically inquired about the Dividend card because of the rotating 5% cash back categories.

The benefits of the Citi Dividend card are as follows:

  • Earn 1% cash back on all purchases
  • Earn 5% cash back on categories that rotate every quarter on up to $6,000 in spend
  • Maximum of $300 cash back can be earned per year

As I said I’m mostly interested in the 5% categories so let’s look at the lineup for this year:

Home Depot, Lowe’s, and Best Buy all sell various gift cards which I’ll be able to get 5% cash back for, and the Airline category in Q3 is something that I’ll definitely be taking advantage of. I’d have to spend $6,000 to earn the full $300 cash back allowed by the card, which is easily doable with gas station and Visa/MC gift cards.

The bottom line: The Citi Dividend has been closed to new customers ever since Citi introduced the Double Cash card, but it is still possible to obtain this lucrative card via downgrading one of your existing cards.

2 comments for “ Citi Dividend Cash Back Card Still Available As Downgrade

  1. Bud
    April 20, 2015 at 10:28 pm

    Big problem with this card is you can only redeem rewards in $50 increments. makes it much harder to use your rewards

    • April 21, 2015 at 8:19 pm

      It makes it more of a pain, but still worth it for a 5% back card I think.

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