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Citi confirmed on May 28, 2026 that the Citi Custom Cash Card is no longer accepting new applications. The card, which launched in June 2021, earned 5% cash back on whichever spending category you used most each billing cycle from a list of 10 options, automatically, with no category selection required. For anyone who was planning to apply, it is gone. For the 1.5 million or so existing cardholders, nothing changes. Here is what you need to know and the best alternatives available right now.
What Happened and What It Means
Citi’s spokesperson confirmed the closure with a brief statement: “This change reflects Citi’s ongoing focus on managing and evolving its product portfolio. Existing Citi Custom Cash cardmembers are not impacted and can continue to use their card and enjoy its benefits.”
This is a product discontinuation, not a cancellation. Existing cardholders keep everything: their card, their current rewards balance, their ThankYou Points, and all benefits. They do not need to do anything. The card will continue to work exactly as it did before May 28. The only change is that new applicants cannot get it.
Citi’s remaining true cash-back card is now the Citi Double Cash, which earns 2% on all purchases (1% when you buy, 1% when you pay). Citi also offers travel rewards cards (Strata Premier, Strata Elite) but the Custom Cash was the last card offering category-specific 5% cash back in Citi’s lineup.
What Made the Custom Cash Card Worth Having
The Custom Cash was genuinely innovative when it launched in 2021. Most 5% cash back cards at the time required cardholders to manually select or activate rotating quarterly categories, often with confusing enrollment requirements and narrow category definitions. The Custom Cash worked differently: it automatically identified your highest spending category from the list each billing cycle and applied 5% to that category, with no action required from you.
The 10 eligible categories were: grocery stores, restaurants, gas stations, streaming services, drugstores, home improvement stores, fitness clubs, select travel, select transit, and live entertainment. The 5% rate applied to the first $500 spent in the top category per billing cycle (equivalent to $25 in cash back per month, or $300/year at maximum). All other spending earned 1%.
The limitations were real: the $500 monthly cap on bonus earning is lower than most comparable cards, and 1% on everything else is weak. But for a single-category spender who consistently tops out in one area (someone who spends $500+/month on groceries, for example), the automatic nature of the benefit was genuinely convenient.
If You Already Have the Card: Keep It
There is no reason to cancel the Citi Custom Cash if you already have it. Closed-to-new-applications cards rarely lose benefits for existing holders, at least not immediately. Citi has confirmed this explicitly. Keep the card, keep earning 5% in your top category, and monitor your email for any future product change notifications. If Citi eventually converts or winds down the card for existing holders, they are required to give you advance notice.
One thing worth doing now if you are an existing cardholder: review your ThankYou Points balance and understand your redemption options. Points earned on the Custom Cash can be transferred to Citi’s airline and hotel partners, redeemed for cash, or used toward purchases. If the card is eventually discontinued in the future, you will want those points in a usable state.
Best Alternatives to the Citi Custom Cash Card
If you were planning to apply for the Custom Cash, these are the closest alternatives currently accepting applications:
How to Choose the Right Replacement
The right alternative depends on why you wanted the Custom Cash in the first place:
You wanted 5% with no category management. No current card does exactly what the Custom Cash did. The closest is the U.S. Bank Cash+ Visa, which lets you choose your own categories but requires quarterly selection. If you are willing to spend 3 minutes per quarter selecting categories, the Cash+ offers a $2,000 quarterly cap instead of the Custom Cash’s $500 monthly cap, which is significantly more earning potential for heavy spenders.
You wanted to maximize one specific category. If your top spending category is groceries, consider the Amex Blue Cash Preferred (6% at U.S. supermarkets, $95 annual fee after first year) or the Amex Blue Cash Everyday (3% at U.S. supermarkets, no fee). For restaurants specifically, the Amex Gold (4x dining, $325 annual fee offset by credits) or the SavorOne (3% dining, no fee) are strong. For gas, the Costco Anywhere Visa (4% gas, Costco membership required) leads the market.
You wanted simplicity and Citi’s ecosystem. The Citi Double Cash is the obvious answer. Same issuer, same ThankYou Points, no category thinking required. You give up the 5% bonus earning in your top category in exchange for a reliable 2% on everything.
You wanted a card that pairs well with a premium travel card. The Chase Freedom Flex pairs with the Chase Sapphire Preferred or Reserve to convert cash back to Ultimate Rewards points worth 1.5-2 cents each toward travel. This is the Chase Trifecta strategy and it is arguably more valuable than any Citi combination for travel-focused cardholders.
Why Citi Might Be Discontinuing the Custom Cash
Citi has not explained the business rationale beyond “managing and evolving its product portfolio,” which is the standard corporate statement that communicates nothing specific. But several factors likely contributed:
The card was expensive to maintain. Automatic 5% category rotation without requiring customer effort is genuinely valuable to cardholders, but it is costly for the issuer. The bank earns interchange fees on every transaction (typically 1.5-2.5%) and pays out 5% in cash back, which means the bank is frequently paying more in rewards than it earns in interchange on bonus category purchases. The card needed to generate enough secondary revenue (interest from carried balances, annual fees from companion cards, cross-sell of other Citi products) to offset this. Apparently, the economics no longer pencil out.
Competition has intensified. The 5% cash back card market has more competitors than it did in 2021. Chase Freedom Flex, U.S. Bank Cash+, and other no-fee options have taken market share. When a card is not growing, banks tend to rationalize their product lineup.
Citi is shifting focus. Citi has been streamlining its consumer business for several years. The 2022-2023 international consumer banking exit and ongoing domestic product rationalization suggest a strategic shift toward fewer, larger product lines. The Double Cash is simpler to operate and market than a card requiring automated category detection logic running on every transaction.
Frequently Asked Questions
What happens to my Citi Custom Cash if I already have it?
Nothing changes. Your card continues to work exactly as before. You keep earning 5% in your top spending category each billing cycle. Your ThankYou Points balance is unaffected. Citi has confirmed existing cardholders are not impacted. Keep using it as normal.
Can I still earn 5% cash back on a no-annual-fee card now that the Custom Cash is gone?
Yes. The Chase Freedom Flex earns 5% on rotating quarterly categories (requires activation each quarter, $1,500 quarterly cap). The U.S. Bank Cash+ Visa earns 5% on two categories you choose each quarter ($2,000 quarterly combined cap). Neither is as automatic as the Custom Cash was, but both offer comparable earning potential for the right spender.
Should I transfer my ThankYou Points before the Custom Cash is discontinued for existing users?
The card is not being discontinued for existing users, it is only closed to new applications. Your ThankYou Points are not at risk from this change. However, as a general practice, it is worth periodically reviewing your points balance and redemption options. ThankYou Points from the Custom Cash can be transferred to the same airline and hotel partners as Citi’s premium cards (Turkish Airlines, Air France/KLM Flying Blue, Singapore Airlines, and others). If you have significant points and a planned trip, transferring and booking award travel now is always an option.
Is the Citi Double Cash worth getting now that it is Citi’s only cash-back option?
The Citi Double Cash is a strong card in its own right. Two percent cash back on all purchases with no annual fee and no category management is competitive and practical. For cardholders who want a simple, reliable cash back card from Citi, it remains a good choice. For cardholders who want to maximize a specific high-spend category (groceries, dining, gas), a category-specific card from another issuer will outperform the Double Cash in that category, typically at 3-6% vs 2%.
Sources: Citi spokesperson statement May 28, 2026; NerdWallet Citi Custom Cash Card news report; U.S. Bank, Chase, Capital One, and Citi card terms. Card details are accurate as of May 29, 2026 and subject to change. This article is for informational purposes only. Finance Pulse may earn a commission if you apply for a card through links on this page.
