The first thing to note of these two cards is that they will either be MasterCard of Visa cards. MasterCard and Visa are methods of payment, not card issuers, and they contract out with banks such as Citi bank and Chase Bank to issue cards for them.
This is different from credit card companies like American Express or Discover, who issue their own cards. Because of this the specifics of each card, whether it be the perks and benefits or the interest rates and card fees, are dictated more by the banks they come from rather than the methods of payment they represent.
Also, because of how banks are able to dictate the kinds of cards they issue, they are best able to meet the needs of their customers.
Chase Credit Cards
Chase Bank offers a variety of cards, each aimed towards a different kind of customer. Their four most popular cards are the Freedom Card, the Slate Card, the Sapphire Card, and the Ink Card.
Many credit card issuers charge a yearly fee to use their cards, but it is important to note that none of the four of these popular cards has any annual fee. Yet, also note that some cards with an annual fee might offer you better benefits and perks. Here are the basics of each Chase card:
- Freedom Card — This card offers a certain percent of cash back on all purchases. If you shop with certain merchants online with this card you get an even greater amount back.
- Slate Card — This card is very flexible and users can use it to customize their own benefits.
- Sapphire Preferred Card — Sapphire gives you points for each purchase that can be redeemed for goods or cash back. It gives you a large amount of points when you use it on your first purchase.
- Ink Business Card — This is a card created especially for small businesses. It gives you free cards for your employees, allows you to customize credit lines, and gives you a percentage cash back on all business purchases.
Citibank Credit Cards
Citibank also offer four popular credit cards: the Citi Platinum Select, the Citi Forward, the Citi Platinum Select/ AAdvantage World, and the Citi Platinum Select Card for College Students.
All of these cards, except the AAdvantage World card, do not have an annual fee either. Each card, like Chase Bank’s cards, offer different benefits to fit different consumers.
- Citi Platinum Select Card — Has a low introductory rate and offers discounts at select stores when this card is used. Also this card as a $0 liability on unauthorized purchases made with this card, protecting you from fraudulent use.
- Citi Forward Card — This is a rewards card much like the Sapphire Card. With each purchase you earn points that can be put towards the purchase of other items.
- AAdvantage World Card — A great card for travelers. This card gives you American Airlines frequent flier miles with every purchase. Also, just opening the card gives you a large bonus amount of frequent flier miles.
- College Student Card — This is a great card for those who are just entering the world of credit cards. However, you must be a college student to apply for this card. This card gives you cash back on purchases and has no annual fee. Another benefit for college students is that there is no cosigner required.
Choosing Your Card
Choosing which card is right for you will require some research to ensure that the benefits line up best to your usage. Also, knowing your benefits as best as possible will allow you to take the most advantage of them.
The big things to know about these cards are the different categories of card types that are out there. Generally you will see benefits that give cash back, give some kind of reward points, offer low interest rates, or give frequent flier miles. These are the four major card benefits and knowing these can ease your search a great deal.
Moreover, when choosing between Citibank and Chase Bank credit cards it is wise to choose the card that aligns with the bank you work with the most. When you are already a bank customer it makes it easier for that bank to help you find the card that is right for you and help with issues with your card.