Citi Elite PremierPass Card Received

A little over a week ago, I applied a Citi Elite PremierPass credit card after seeing some discussion on FatWallet forum. What interested me were

  1. the promise of no annual fee, which is usually $75,
  2. 15,000 bonus points after 1st purchase, and
  3. 0% balance transfer for 12 months

At the time when I applied for the card, it wasn’t very clear whether the fee is waived temporarily or permanently. Today, the card arrived with a credit limit of $19,500 and on the card carrier it is clearly printed “Annual Membership Fee: NONE” with no any other conditions attached, the same as every other Citi card I have. As long as there is no annual fee, this is a very good card for travel, though I don’t travel that much. If they change their mind later, I can always cancel the card.

Right now I am only interested in making a purchase to get the bonus points, then make a $19,000 balance transfer. For 12 months, the interest-free loan could earn me about $1,000 in interests with IGoBanking’s 5.30% APY. Though for this deal, I have to pay a maximum of $250 balance transfer fee, the free money is irresistible.

This offer, however, is dead as the annual fee is no longer waived on the new PremierPass card application page.

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