Citi Hilton HHonors Reserve Credit Card Review
The recently introduced Citi Hilton HHonors Reserve credit card has managed to catch the attention of regular card users and first-timers wishing to acquire a credit card with an attractive feature set. Let us take a closer look at what this card is all about.
The card uses the VISA network; it is a premium card that requires an excellent credit rating from its prospective owners. There are no transaction costs attached with foreign purchase.
Sign Up Bonus
The signup bonus comes in the form of 2 free weekend nights that you can enjoy at select Hilton properties anywhere in the world and also avail standard rooms at Waldorf properties.
Eligibility criterion for this is a spend of $2500 on acceptable purchases within four months of acquiring the card. Maybe some would prefer being awarded points as a bonus and the freedom to use the points as they please.
You are a Gold Member and enjoy benefits associated with it simply by retaining the card. You don't have to make any purchases. This complimentary offer entitles you to free internet and free breakfast during your stay at Hilton properties along with other freebies depending upon availability. Spend $40,000 in a calendar year to acquire the 100,000 bonus points necessary for attaining the coveted Diamond status which is the highest available.
There is a $95 annual fee, but card members appreciate more benefits and perks other credit cards don't offer. You can find cards costing less, but it depends on what you want out of the card and whether you fit in with the consumer profile the card company has in mind.
In the case of the Citi Hilton HHonors Reserve card, the signup bonus is a good one and you enjoy privileges simply by keeping the card. That's a great deal for a whole lot of people. If you don't like the annual fee then you may consider other Citi cards.
Spend $10,000 a year making eligible purchases and gift yourself a free weekend night certificate that gets you a one weekend night stay at select Hilton hotels and resorts located all over the globe. The list includes some really attractive Hilton properties; the kind that many would think twice about checking into if they had to pay from their own pockets.
The break-up of HHonors bonus points makes staying at Hilton properties an attractive proposition. You earn 10 HHonors bonus points for every dollar spent at any Hilton hotel or resort located any where in the world. Just make sure that the purchases are charged to the card holder's hotel room and payments made using the Citi Hilton HHonors Reserve card.
5 such bonus points get added to your account when you use the card for shopping at airlines and car rentals.
Other eligible purchases yield 3 bonus points for every dollar you spend.
Rates of Interest
Unfortunately, this is not a card for those looking to avail the benefits of introductory rates on balance transfers. This card has the element of the premium class attached with it and as mentioned before, you need to have very good credit rating to qualify.
- The regular balance transfer rate of interest is 14.24% but can be less depending upon your creditworthiness. A balance transfer fee of 3% is levied.
- Cash advances are charged at slightly higher interest rate of 25.24% and a cash advance fee of $10 or 5%, whichever is less.
- Similarly, there is no introductory period scheme for low interest rates on purchases. The regular rate of 14.24% is applicable from day one.
- The late fee does not go above $35 which is a relieving feature in situations when faced with a temporary funds crunch. The late fees are applicable only after a grace period of 23 days.
Credit Card Security
The Citi Hilton HHonors Visa Reserve card makes use of advanced chip-based technology which ensures smooth acceptance of the card all over the world, speeding up transactions. The technology also improves card security, thereby protecting your financial data and account. You can manage your account online and opt for an online-only statement.
Cutting-edge credit card technology and the approach of telling the customers that their elite status is a given means that this card positions itself slightly differently from other popular credit cards in a tie-up with the Hilton group.
The co-branded Citi Hilton HHonors Reserve Card brings together two well-known brands – Hilton and Citibank. And if you are a loyal Citibank customer who also happens to travel and on those destinations you prefer to put up at Hilton hotels and resorts then this is a good card for you. Zero transaction costs on expenditure abroad is obviously a big attraction for not just regular travelers but people planning on a vacation abroad.
The undeniable convenience of plastic money when in a foreign land is best realized with a card like this. There is no cost on unauthorized use; a feature thoughtfully introduced keeping travelers in mind. After all, one is more likely to misplace or lose a credit card when traveling. No doubt, there are many other cards out there that offer better value for money when it comes to points earned for dollars spent but the features that this card carries holds tremendous value for a vast section of society.
When you add up the perks other than the bonus points, such as the complimentary Gold status and fee waiver on purchases in foreign currency, you get a clear picture of a traveler-friendly credit card that you may wish to give a try.
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