Rating the Citi® Upromise® Platinum Select® Mastercard®

by : Scott Stadler

Reviewing hundreds of credit cards, one of the first things to become obvious is the fact that some cards just have more to offer than their counterparts do. This certainly stands true for the Citi® Upromise® Platinum Select® MasterCard®. While not perfect in every category, it does put forth some unique and powerful features when it comes to offering rewards.

The Credit Card's Most Notable Feature

Not all rewards credit cards are created equal. While some favor gas rebates and others perhaps airline frequent flier miles, the Citi® Upromise® Platinum Select® MasterCard® is different from any other. Most notably, it partners up with Upromise, the well known college savings program, to apply percentages of purchase to a Upromise college savings account.

For those with children approaching college age and who realize the massive expenses associated with these years, the Citi® Upromise® Platinum Select® MasterCard® delivers assistance on multiple fronts. Applying 10% of qualified store purchases, 2% of certain gasoline purchase, and 1% of all other purchases to the matching Upromise account, the most notable feature of this credit card is how these rewards add up. Granted, the 10% reward is only good at specified participating grocery and drug stores, but it's still difficult to find and other reward card with a percentage this high.

The Other Features Worth Making Note Of

The Citi® Upromise® Platinum Select® MasterCard® is indeed accepted at any merchant accepting MasterCard, so rest assured of widespread coverage. While most of the other details of this credit card besides the Upromise rewards are rather average, it is worth noting that it does skip the annual fee. Many other rewards cards are of the "pay to play" variety.

How Does This Credit Card's Day to Day Interest Rate Stand?

Hitting the best interest features first, the Citi® Upromise® Platinum Select® MasterCard® extends a zero percent balance transfer interest to those who would like to move a higher balance from another card and attack the principal balance for a 12 month period. More or less standard these days, balance transfer fees do apply.

Other than the 12 month interest free balance transfer period, this credit card only offers an average interest rate for purchases. Those with good to excellent credit can no doubt do better in this area, making this card really best for those who pay off their balance in full with each and every bill.

So, What's the Overall Consensus?

The Citi® Upromise® Platinum Select® MasterCard® is not the perfect choice for everyone. Those who plan on using the credit card for every purchase possible and then paying off the balance in full every month will benefit the most.

All things considered, the card does offer substantial rewards when it comes to college savings via the Upromise program. And if big college costs are in the future, why not go after the rewards that can help knock them down?