The Citi Hilton HHonors Visa Signature Credit Card - Pros and Cons

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Saturday, 17 May 2008

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By:George Allen

The Citi® Hilton HHonors® Visa® Signature Card, issued by Citibank, offers cardholders the opportunity to take advantage of the Hilton HHonors® reward program as well as many signature benefits.

The reward program is by far the most attractive benefit of the card, and it is ideal for those who frequently stay at Hilton HHonors® hotels. The card rewards cardholders with two points for each dollar spent on general purchases and three points for each dollar spent at Hilton HHonors® hotels (see website for participating hotel chains).

Credit Card Pros - Most Attractive Features:

There is no yearly limit to the number of points that can be earned;
Two points for general purchases;
Earned points can be applied to free hotel stays and various travel rewards.
additional hotel benefits and services for cardholders;
Cardholders also receive Hilton HHonors® Silver VIP status for the first year of membership with no additional charge.
The card has no pre-set spending limit
no annual fee;
low introductory rate for purchases and balance transfers.
points do not expire provided that a transaction is made with the card within a year or at least one stay in a Hilton Hotel is made within a year.
New applicants receive 15,000 bonus points with the first purchase made with the card as long as their first purchase is made within 60 days from the date that the account was opened.
bonus points;
"Double Dip" Rewards advantage;
common signature cardholder benefits;
no pre-set spending limit.
Those who frequently stay at Hilton HHonors® hotels, plan to pay in full each month (to avoid finance charges), and will take advantage of the many signature benefits will find the Citi® Hilton HHonors® Visa® Signature Card to be very beneficial.
Various Internet account related services.
Identity theft solutions.
Fraud and security protection services.
Complimentary Hilton HHonors Silver VIP status for the first year of membership.
Automatic bill payments.
Up to $1,000,000 in travel accident insurance.
Auto rental insurance.
Emergency cash replacement.
Emergency assistance services
Lost luggage assistance.
Medical referral services.
Legal referral services.
Lost and stolen card reporting.
Various travel and emergency assistance services.
Year-end financial statement (upon request).
No liability for unauthorized transactions.

Credit Card Cons - Least Attractive Features:

Best rewards require a large amount of points to be redeemed.
The interest rate for purchases and balance transfers after the introductory rate expires is above average for a reward card.
Not ideal for those who plan to carry a balance.
A minimum cap of 19.99% for cash advances;
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.

Reward Program Details

Points per Dollar: 2 Points
Additional Points: 3 points per dollar at Hilton Hotels.
"DoubleDip" - allows cardholder to earn points and miles on purchases at participating merchants and retailers.
Expiration: 1 Year (Points do not expire as long as the cardholder stays with Hilton or uses the card within a 12-month period.)
Yearly Limit: None
Bonus Points: First Purchase: 15,000 Points**
Bonus Points: Details: **First purchase must be within 60 days from account opening date to receive bonus points.

It is strongly suggested that you carefully read the Terms and Conditions statement that accompanies the credit card application.

Article Source: http://www.dailynewarticles.com

George Allen is an experienced financial and travel consultant and has worked
with many clients looking to utilize
cash reward credit cards to lower cost of their travel expenses. He has written
numerous articles related to this subject in
best credit card reward programs blog.