Citizens Clear Value Mastercard Review

Who is the Citizens Clear Value Mastercard for?

The Citizens Clear Value Mastercard is perfect for those looking to ease up their debts. With the introductory APR balance transfers of 0%, cardmembers can enjoy interest-free payments on their commitments such as student loans, payday loans, auto loans, and even other credit card debt. Whether you were just laid off from your job or you're in a tight financial situation, this card can truly benefit you if used to its full advantage.

With no incentives offered for purchases, such as a points system or cashback rewards, this card is mainly for those looking to avoid paying interest on their accounts.

0% Intro APR Balance Transfers

The main benefit of opening the Citizens Clear Value Mastercard is its 0% introductory APR balance transfers for 18 months. With 0% balance transfers, you'll be able to enjoy interest-less payments to accounts in which you've been paying hefty amounts of interest. To exemplify, your existing car debt or personal loan could be transferred to this credit card to save on paying any interest for the promotional period of 18 months. You can potentially save hundreds of dollars in interest payments if you pay off your entire balance transfer amount within 18 months. Most credit cards that offer such 0% introductory APR on balance transfers usually provide 15 months at most, whereas this card's 3 months extra can really be a game-changer if you’re in an unsteady financial spot.

The only downside to this great offer is that you generally need to have good to excellent credit to be able to get this card.

When using this card for its 0% balance transfer APR, be sure not to make any new purchases. There will be no grace period due to the balance transfer amount being carried over from month to month. Unless you know you'll be able to pay off your purchases without the 21 day grace period, it's best to use a rewards card for spending.

Balance transfers with this card can take up to four weeks to be processed. Therefore, it's critical that you continue making your monthly payments on the accounts you want to get transferred so you can avoid any extra charges. Cardholders should also keep in mind that they will have to pay $10 or 3% of the amount of each balance transfer, whichever is greater. The fee rate charged for the balance transfer is in line with other credit cards and may be well worth it considering it's a one time fee and it's probably less than what your spending in interest.

By taking advantage of this card's 0% balance transfers APR promotion, you'll want to make sure you can pay the balance before the end of the intro period. With the end of the intro period, you are subjected to a varying balance transfer APR that could be as high as 21.99%. If you carry over a balance past the 18-month introductory period, you'll be back at square one with money that you've saved turning into payments for interest.

No Annual Fee

The Citizens Clear Value Mastercard is a very generous credit card considering the fact that there is no annual fee. This card's intro balance transfer APR along with its no annual fee makes this the perfect choice for those behind on debt payments.

No Cash Back/Rewards

No rewards or cashback are given when this card is used for purchases. This card revolves around its intro balance transfer APR more than it does on using it for purchases. Thus, this may not be the most suitable card for those looking to make this their daily go-to as it doesn't offer any incentive to use. Other cards that are more oriented towards purchasing and using about your daily life, would be better suited for rewards, cashback, and welcome bonuses.

Other Benefits

This card allows the user to claim extended warranty protection. With extended warranty protection, card users can double the original manufacturer's or store's warranty for up to one year. For example, a warranty of 18 months on a qualifying purchase will become a total warranty of 30 months due to this card's extended warranty protection. Extended warranty protection is provided to the cardmember at no additional cost, making your purchases even more secure without the extra money.

Cardholders can enjoy ID Theft Protection, which ensures that your identity is safe 24/7. The Mastercard services enabled with this card, allow quick detection and assistance to help resolve theft events.

This card has the added benefit of providing travel accident and baggage delay insurance. You'll be at ease knowing that this card has your back for when there is a traveling issue such as luggage delay.

The 21-day grace period on all purchases made with your Clear Value Mastercard allows you flexibility when making payments. For this grace period, however, you'll have to make sure that you pay your account balance in full by the due date.

The Citizens Clear Value Mastercard allows you to hover or tap your card near payment machines when making a transaction. This feature allows you to simply tap and go wherever you see the contactless symbol. With this fast and efficient feature, you'll be worry-free about credit card fraud and data breach.

This card presents zero liability protection which defends you against unauthorized purchases.  No matter how the unauthorized purchase has been made whether it be by phone, the net, or in-store, zero liability protection guards Mastercard members against all illegal and fraudulent activity. You won't be held accountable for unauthorized transactions if you promptly report the loss or theft of your card to Citizens Bank.

Conclusion:

This card is great for those that are behind on their debt payments and need some time to be able to catch up. With the intro balance transfer period, you don't have to worry about paying a penny extra. However, to be able to take advantage of this great offering, prospective cardmembers need a really high credit rating. Every time you apply for a new credit card, your credit score temporarily takes a hit that can take 3-6 months before going back to where it was. In this view, it would be wise to check your credit score before applying. Also, if you’re in the market for a credit card that rewards you for your purchases, this might not be the best option as other cards are better geared for that purpose.