home   |   archive   |   feed   |   advertise   |   contact   |   My posts

August 22, 2006 8:38 AM

Citigroup Reduces Cashback Incentive


Following Amex’s lead to cut back reward card incentives, Citibank is moving away from the lavish 5% cashback on grocery, gas station and drugstore purchases. Will the other players like Chase and Discover follow the suit?

(Citibank’s Driver’s Edge card is still an attractive option … it currently offers 6% rebate on gas station, drugstore and supermarket purchases for full 12 months and the reward is redeemable for car maintenance as well as car purchases.)


From WSJ:

In another sign of the rising popularity and cost of credit-card rewards programs, Citigroup Inc. is cutting back on the amount of cash some cardholders can earn on purchases made at supermarkets, gasoline stations and drugstores.

Holders of Citigroup’s Citi Dividend MasterCard have begun receiving 30-day notices that as soon as October they will receive 2% cash back, rather than the current 5%, on purchases they make at those locations using their credit card.

The change comes following a similar move by American Express Co., which recently announced it would no longer offer double rewards when customers use their card for “everyday spending” at locations similar to those covered by the Citigroup move.

Citigroup, however, while cutting back the amount of its cash-back rewards, is offering Citi Dividend MasterCard cardholders more types of businesses where they can receive cash back. Purchases made at convenience stores and utilities, including cable operators, will be eligible for 2% cash-back rewards when the card is used. Cardholders are eligible to receive an annual maximum of $300 cash back.







Related Entries

11/15/06 | Featured Card: Citi Driver’s Edge Platinum Select Card
10/27/06 | OptionXpress Offers Affiliated Credit Card
10/27/06 | American Express Launches Event Ticket Protection Plan
10/22/06 | How To Close Credit Card Properly?
10/20/06 | Kiplinger: Best Credit Card Choice In Every Category
10/20/06 | How Corporate Credit Card Can Hurt Your Credit Score
10/14/06 | How Many Credit Cards Should You Have?
10/11/06 | Credit FAQ: Who Can Look at Your Credit Report?
10/11/06 | Credit FAQ: What Information Is Included In A Credit Report?
10/11/06 | Credit FAQ: What Is Promotional Inquiry?
10/11/06 | Credit FAQ: What Is Security Freeze?
10/11/06 | Credit FAQ: What Is Soft Inquiry?
10/11/06 | Credit FAQ: What Is Loan-to-Value Ratio (LTV)?
10/11/06 | Credit FAQ: What Is A Hard Inquiry?
10/11/06 | Credit FAQ: What Is Fraud Alert?
10/11/06 | Credit FAQ: What Is Equal Credit Opportunity Act (ECOA)?
10/11/06 | Credit FAQ: What Is Fair Credit Reporting Act?
10/11/06 | Credit FAQ: What Is Credit Reporting Company?
10/11/06 | Credit FAQ: What Is Co-Signer?
10/10/06 | Key Benefits Of Frequent Flier Credit Cards
10/10/06 | Things To Look For In Student Credit Cards
10/10/06 | What’s The Difference Between Unsecured And Secured Credit Card?
10/10/06 | Use Secured Credit Card To Establish Good Credit History
10/10/06 | How To Rebuild Poor Credit? Things To Do And Not To Do
10/06/06 | Credit Card Delinquency At Its Lowest Since 1994
10/06/06 | GE Retail Consumer Finance Issues ShopNBC MasterCard
10/05/06 | Types Of Credit Card Fees: More Than You Can Imagine
10/05/06 | One Card, Multiple APRs
10/05/06 | How Long Is The Credit Card Grace Period?
10/05/06 | How Can I Improve My Credit Score?
10/05/06 | Credit FAQ: What Is A Good Insurance Credit Score?
10/05/06 | What Is “Credit Scoring”?
10/05/06 | How Many Credit Cards Do You Really Need?
10/03/06 | Good Credit Behavior Has Long Shelf Life
10/02/06 | Now All Secured Cards Help Credit Rebuilding
10/02/06 | Paying Back Credit card Balance In Small Chunks Does Not Help Credit Score
10/01/06 | Credit FAQ: What Is Garnishment?
10/01/06 | Credit FAQ: What Is Obsolete Information?
10/01/06 | Credit FAQ: What Is FICO Score?
10/01/06 | Credit FAQ: What Is Discretionary Income?
10/01/06 | Credit FAQ: What Is Credit File?
09/28/06 | Best Buy Reward Zone MasterCard
09/25/06 | How Is VantageScore Determined?
09/25/06 | How To Dispute A Credit Card Charge?
09/21/06 | Credit FAQ: What Is Cash Advance?
09/21/06 | Credit FAQ: What Are Consumer Credit Counseling Service (CCCS)?
09/20/06 | Featured Card: Citi mtvU Visa Card for College Students
09/20/06 | Featured Card: Starwood Preferred Guest Credit Card from American Express
09/20/06 | Featured Card: Discover Platinum Clear Card
09/20/06 | Featured Card: American Express Blue Cash for Business Credit Card
09/19/06 | Merchant-Specific Credit Card Reward Gets Trendy
09/15/06 | Walmart To Enter China’s Credit Card Market
09/14/06 | Why Credit Scores Are Important
09/14/06 | How to Raise Your Credit Score
09/13/06 | What Should You Do If Your Credit Card Is Lost Or Stolen?
09/13/06 | Should You Sign On The Back of Your Credit Card?
09/13/06 | Use Credit Card To Make Downpayment
09/12/06 | How To Use A Credit Card To Establish Good Credit?
09/11/06 | New MasterCard Aims For The Riches
09/08/06 | Bad Credit Can Cost You A Dream Job
09/05/06 | How Can You Manage Your Credit Wisely?
09/04/06 | Alarming Credit-Card Tricks #1 – Applying for a Mortgage? We’ll Bump Up Your APR
09/04/06 | Earn 20%, Guaranteed
09/04/06 | The Best Cash-Back Credit Cards
09/04/06 | How To Maximize Your Credit Card Rewards
09/04/06 | What Is Two-Cycle Billing?
08/29/06 | Pay The Minimum On Credit Card Bills Will Cost You (A Lot)
08/26/06 | Credit Card Protection Plan? Better Not!
08/23/06 | SmartMoney: 10 Things Your Credit Card Company Won’t Tell You
08/21/06 | Featured Card: One from American Express
08/21/06 | Featured Card: CitiBusiness PremierPass Card
08/20/06 | Credit Card Sales is Growing Rapidly
08/15/06 | Credit Card May Be Refused in the UK
08/14/06 | Contactless Payments
08/14/06 | Reward Plan Downgrade at Amex
08/14/06 | 4 Ways to Snag the Best Reward Card





Sponsors

• Legal Helpers experienced bankruptcy lawyers can help you out of debt. Take advantage of our Free debt consultation. Our bankruptcy lawyers will help you understand your best option to eliminate your debt. Ask about our 100% guarantee.

Contact us to get your web site listed here for as little as $10/month.







All Rights Reserved. Questions? Please Contact: contact@bestcardguide.com