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Saturday, April 4, 2020
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2020's Best Citi® Credit Cards

Below are our ratings of 2020's best credit cards offered by Citi®. The popular issuer offers a variety of cards designed for small businesses, students, and general consumers alike.

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Behind the Issuer: Citi

Adam West
By: Adam West
Behind the Issuer: Citi Guide: Citi®

Citigroup is a global financial services corporation and the parent company of Citibank, the consumer finance division of the company. They are most often simply referred to as Citi when discussing either entity. Citi celebrated its 200th anniversary in June of 2012, making it one of the oldest financial services companies in America.

Today Citi is one of the three largest banks in the country. It is also one of the largest financial services institutions in the world, having branches in 36 countries. Citi’s contributions throughout its history have had a significant impact on the United States and the world, making it one of the most important banks ever established.

A Part of History

Citibank was founded on June 16, 1812, as The City Bank of New York. It was founded by Alexander Hamilton and Samuel Osgood, the latter of whom was the bank’s first president.

Since there was no national or central bank at the time, City Bank of New York acted as the financial institution for the Treasury, helping to finance purchases during the War of 1812. Among other historical events, it also financed the first transatlantic telegraph cable in the 1860s.

Citi weathered at least two periods of financial turmoil in the early and mid-19th century, becoming one of the largest banks in the country by the end of the Civil War. By that time, the bank had changed its name to The National City Bank of New York, reflecting its participation in a new unified banking system.

The National Bank Act of 1863 set out to create a national currency backed by the U.S. Treasury and Citi was part of that effort.

The 20th Century

With its increasing size and ability to finance large projects, Citi was called upon in 1904 to fund one of the largest engineering projects ever undertaken. The Panama Canal project required millions of dollars in funding just to get underway, much of which Citi provided.

Citi was also the first U.S. bank to open offices outside of the country, starting with a branch in Buenos Aires, Argentina, in 1914. Five years later, Citi became the first U.S. bank to reach $1 billion in assets.

Citi continued to thrive and merged with First National Bank in 1955. The combined company was renamed First National City Bank in 1962. It also was responsible for pioneering the first certificates of deposit in 1961, allowing investors to collect a fixed interest rate for an extended duration.

In 1968, Citi had introduced its first credit card, the First National City Charge Card, to compete with the BankAmericard.

Citibank Today

In the mid-1970s, First National City Bank became Citibank, and the bank’s holding company, First National City Corporation, became Citicorp.

With this change came the branding of a new form of automated banking, the Citicard. With the Citicard, customers could perform banking transactions without a passbook.

The Citicard was also used to make all types of transactions 24/7 at the bank’s new ATM machines. Throughout the 1980s and 1990s, Citi continued to expand into new markets and introduce new banking technologies.

In 1998, Citicorp merged with Travelers Group to form the largest financial services company in the world. Travelers was an insurance company that had acquired stock brokerage firm Smith Barney, among other financial services assets. The combined entity was renamed Citigroup on Oct. 9, 1998.

The modern Citi has spread across the globe, operating more than 16,000 locations around the world. The bank maintains its role as one of the cornerstones of consumer finance, offering a diverse lineup of products and services designed to fit the needs of its equally diverse customer base.

Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

The information on this page was reviewed for accuracy on .

About the Author

Adam West Adam West

As Managing Editor for CardRates, Adam oversees content and regularly interviews some of the payments industry's biggest influencers and decision-makers so our site can bring high-quality and engaging stories to our audience and keep readers informed on the latest trends and technology in the space.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). does not include all credit card companies or all available credit card offers. See the credit card issuer's website for specific terms and conditions of each card.