What the Performance Plus Award Card is

The Performance Plus Award Card is a rewards credit card issued by Citi that focuses on cash back across everyday spending categories. The card earns a flat rate on most purchases, with higher rates in specific categories like gas, groceries, and dining. There is no annual fee, and the card reports to all three major credit bureaus, which means responsible use can help build your credit history.

This card is designed for people who want straightforward cash back without rotating categories or spending caps. You earn the same rewards rate whether you spend $500 or $5,000 in a category during a given month — there is no bonus that disappears once you hit a limit.

Key Takeaways

  • The Performance Plus Award Card earns cash back on gas, groceries, dining, and other purchases, with a lower flat rate on everything else.
  • There is no annual fee, no foreign transaction fees, and no minimum spending requirement to keep the card active.
  • You can redeem cash back as a statement credit, direct deposit to a bank account, or a check mailed to you.
  • The card requires a credit history and reports to credit bureaus, so on-time payments help build credit while missed payments harm it.
  • Introductory offers vary by approval date and credit profile, so the specific bonus you see may differ from what another person receives.

Earning and Redeeming Cash Back

Cash back accrues automatically on every purchase you make with the card. You do not need to set up categories, enroll in bonus programs, or track spending caps — the card straightforward applies the correct rate based on the merchant code of where you shop. Citi updates your available cash back balance in your online account and mobile app, and you can check it anytime.

You can redeem cash back in three ways: as a statement credit that reduces your next bill, as a direct deposit to a linked bank account, or as a check. Statement credits process when ready, while direct deposits typically arrive within three to five business days. Checks are mailed and take longer. There is no minimum cash back amount you must accumulate before redeeming — you can cash out $5 if you want to, though most people wait until they have accumulated more.

Cash back does not expire as long as your account remains open and in good standing. If you close the card, any unredeemed cash back is forfeited, so redeem before you cancel if you have a balance.

Annual Fee and Other Costs

The Performance Plus Award Card has no annual fee. You pay nothing to hold the card or use it for purchases. This makes it a low-cost option compared to premium rewards cards that charge $95 or more per year.

The card also does not charge foreign transaction fees, so you can use it internationally without a markup on currency conversion. However, your bank or credit card issuer may charge a cash advance fee if you use the card to withdraw money from an ATM, and late payments trigger a late fee. Interest charges explore to any balance you carry from month to month unless you pay in full.

Credit Requirements and the process Process

Citi requires an established credit history to approve the Performance Plus Award Card. This typically means you need a credit score in the fair to good range — usually 620 or higher — though the exact threshold varies based on your income, existing debts, and payment history. If you have no credit history or a very recent bankruptcy, you are unlikely to be approved.

You can start an process online through Citi's website or by phone. The online process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment information. Citi pulls a hard inquiry on your credit report, which temporarily lowers your score by a few points. You will receive a decision when ready or within a few business days.

If you are approved, your card arrives by mail within 7 to 10 business days. You must set up it before using it — Citi sends set up instructions with the card, or you can set up through the mobile app or website. Once activated, you can use it right away.

Managing Your Account and Payments

You can manage your Performance Plus Award Card account online or through the Citi mobile app. Both let you view your balance, transaction history, available credit, and cash back earnings. You can also set up automatic payments, report fraud, update your address, and read statements.

Payments are due on the same day each month — Citi sets this date based on when your account opens. You can pay online, by phone, by mail, or through automatic transfer from your bank account. If you set up autopay, you can choose to pay the full statement balance, the minimum payment, or a fixed amount you specify. Paying the full balance by the due date means you pay no interest.

Late payments are reported to credit bureaus and damage your credit score. A payment 30 days late stays on your credit report for seven years. If you miss a payment, contact Citi as soon as possible — sometimes they will waive a single late fee if you have a good payment history.

How This Card Compares to Other Rewards Cards

The Performance Plus Award Card sits in the middle of the rewards card market. It offers higher cash back rates than basic cards with no rewards, but lower rates than premium cards that charge annual fees. The main trade-off is simplicity: you earn the same rate in every category with no rotating bonuses to track, which appeals to people who want straightforward rewards without complexity.

If you spend heavily in one category — say, $10,000 per year on groceries — a card with a 5% grocery bonus might earn you more than the Performance Plus Award Card. But if your spending is spread across gas, dining, groceries, and general purchases, the flat structure often wins because there are no caps or category limits to worry about.

Cards with annual fees usually offer higher rewards rates or premium benefits like travel insurance or concierge service. If you do not value those extras, the no-fee Performance Plus Award Card is a better choice.

Building Credit with This Card

Using the Performance Plus Award Card responsibly can help build or improve your credit score. Citi reports your account activity to Equifax, Experian, and TransUnion, so your payment history, credit utilization, and account age all factor into your credit score over time.

To maximize credit-building benefits, make all payments on time, keep your balance low relative to your credit limit, and avoid closing the card once you have built credit elsewhere. A long account history with no missed payments is one of the strongest signals to lenders that you are a reliable borrower.

If you miss a payment or carry a high balance, the card will hurt your credit score instead. The damage from a 30-day late payment can take months to recover from, even after you catch up.

Frequently Asked Questions

What happens if I close the card?

Any unredeemed cash back is forfeited, so redeem your balance before you cancel. Closing the card also removes an active account from your credit history, which can lower your credit score slightly. If you want to stop using the card, consider keeping it open with no balance instead.

Can I transfer my cash back to airline miles or hotel points?

No. The Performance Plus Award Card only lets you redeem cash back as a statement credit, direct deposit, or check. You cannot convert it to points or miles with another program.

Is there a spending limit on how much cash back I can earn?

No. You earn the same cash back rate on every dollar you spend, with no cap. Some cards limit bonus rates to a certain amount per quarter — this card does not.

What credit score do I need to be approved?

Citi typically approves applicants with a credit score of 620 or higher, though the exact requirement depends on your income and payment history. If you are denied, you can ask Citi for the specific reason and reapply after addressing it.

How long does it take to receive the card after approval?

Most cards arrive within 7 to 10 business days of approval. You must set up it before using it, which takes less than a minute through the app or website. In rare cases, Citi may need additional information before shipping, which can delay arrival by a few days.