Citi's Latest Initiative to Woo Card Holders
We are seeing Citi Group increase interest rates on many of their rather favorable previously credit cards. Such products as Citi® Dividend Platinum Select®, Citi® Home Rebate Platinum Select® MasterCard® and Citi PremierPass MasterCard® have all acquired another 1% or 2% beyond.
However, a new rewards program introduced by the issuer seems to be paying customers scot and lot, compensating for the extra interest they have been charged.
The new program - Extra Cash from Citi - is designed to save customers significantly more money than they previously were able to, and for no greater hassle than just the need to use a participating Citi card.
Citibank is pushing its way through the tight credit conditions and showing an unflagging commitment to continually stimulate their customers' loyalty and encourage card spending. The new Extra Cash from Citi benefit serves as a perfect tool to once again prove this commitment and make it more expressive.
Right. What can be more significant for a cardholder than the opportunity to get 10% off on the biggest brand names each time the card is used?
Extra cash from Citi is a real miracle for credit consumers who are looking for generous discounts in merchandise, entertainment and travel. The new benefit is available to consumers who are currently using Platinum Select and Diamond Preferred cards, as well as AT & T Universal Platinum credit cads.
This unique rewards program exempts cardholders from the need to overspend and accumulate balances in order to get greater rewards. All you need to do is just use your plastic on the normal basis and pay all your bills in full when due. Each transaction will turn into a 10% off on eligible purchases, with the maximum of 40% saving when you shop at the Extra Cash web site.
So, what's the scheme? Each time you pay for eligible purchases with participating card, you earn 10% discount which you may use towards saving on popular brand names, such as InterContinental Hotels, the Gap, Tumi and others. Spend $100 and get $10 for the reward; spend $200 and get $20! It's all a piece of cake, isn't it?
Looking to enroll? No, you do not have to make any applications. If you own one of the above mentioned credit cards from Citibank, you get automatically enrolled. There's no need to expect additional fees or increased card rates for the privilege to benefit from the program.
It may seem just a free present, a token of goodwill from the bank. But is it really so? Considering that the rates on your card have risen, the new reward offer is actually working as compensation. But customers do not mind it. Extra cash can never be extra, really and such great discount as this can never be underestimated.
Evidently, Citi is not going to lose loyal customers as a result of their pricing policy. More sophisticated and more generous credit rewards are a great incentive to stay.