Citi blindsides cardholders by killing credit card 

The Citi Custom Cash Card built a devoted following across nearly five years by offering something few competitors in the cash-back space had ever attempted.

It automatically rewards cardholders based on their monthly spending patterns, eliminating the manual category activations, and quarterly enrollment steps that rival products require.

On May 28, 2026, Citi pulled all new applications for the card and replaced its product page with a short redirection notice. 

The bank issued no formal public announcement before shutting down one of its most recognized products, though rumors based on internal documents circulated among credit card publications in the days prior, catching most potential applicants off guard.

The closure leaves open questions about Citi’s broader cash back strategy and whether the bank eventually plans to force changes on existing cardholders.

What the Custom Cash Card offered before Citi closed applications

The card earned cardholders up to 5% cash back in their highest-eligible spending category each billing cycle, capped at $500, U.S. News reported.

Purchases beyond that $500 cap earned a flat 1% return, which limited the card’s value for consumers who spread their spending across multiple retailers.

The Custom Cash Card, launched in June 2021, with no annual fee and was designed to automatically adapt to each cardholder’s spending patterns. 

New applicants also received a welcome bonus and a 0% introductory Annual Percentage Rate offer, two incentives that made the card appealing beyond its cash-back rewards structure.

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The automatic category detection set the Custom Cash Card apart from competitors that require users to choose or activate bonus categories every month or quarter. 

That hands-off approach appealed to consumers whose spending habits shifted regularly, including those who alternate between heavy dining and heavy grocery spending months.

Competing cash back cards often cap bonus rewards on an annual or quarterly basis, giving users a wider window to earn at their highest rate.

The Custom Cash Card’s tighter monthly ceiling positioned it as a strong supplemental card for focused spending, not a standalone option for high-volume purchasers.

Citi’s history of removing cards from its credit card portfolio

This closure is not the first time Citi has pulled a popular card from its product lineup and redirected consumers to a different offering.

The bank rebranded the Citi Rewards+ Card as the Citi Strata Card in July 2025, automatically converting existing cardholders to the new product with a revamped rewards structure, according to Upgraded Points.

Having multiple Citi cards is great for someone who spends a lot on multiple categories or wants to redeem their points for travel

Citi also closed the Citi Prestige Card to new applicants several years ago, but allowed existing accounts to continue with their original rewards intact, with no announced timeline for changes.

That approach gave Prestige holders stability, though the Rewards+ conversion showed that the bank will force product changes when its portfolio strategy requires it.

Citi has a history of discontinuing credit cards, replacing products, and converting customers when portfolio strategy shifts demand it.

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Cash back alternatives available after the Custom Cash Card exit

Citi has directed applicants to its Double Cash Card, which earns a flat 2% cash back on all purchases, 1% at purchase and 1% at payment, with no categories to track.

The U.S. Bank Cash+ Visa Signature Card offers a closer match to the Custom Cash structure, U.S. News reported. Cardholders choose two 5% cash back categories on the first $2,000 spent each quarter and one 2% everyday category, with no annual fee.

The U.S. Bank card’s $2,000 quarterly cap allows more room at the top rate than the Custom Cash Card’s $500 monthly limit, and the self-selected categories give cardholders the kind of flexibility that defined the discontinued Citi product.

Neither alternative charges an annual fee, leaving the choice between them to how each rewards structure matches a cardholder’s spending.

What existing Citi Custom Cash cardholders can expect going forward

Existing Custom Cash cardholders are not impacted and can continue using their cards with all existing benefits intact, a Citi spokesperson said in the company’s statement, which described the move as reflecting Citi’s “ongoing focus on managing and evolving its product portfolio.”

The bank directed prospective applicants to the Double Cash Card instead. Whether Citi will eventually convert existing Custom Cash accounts to another product remains a question the bank has not addressed in any public communication to date.

The closure leaves Citi’s standalone cash-back lineup down to just the Double Cash Card, alongside its co-branded Costco offerings, which serve a narrower audience.

Related: Citi has key message on annuities, retirement income

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