Consumer Payment Card News

Canadian Driver's Edge

Citibank Canada has announced the launch of its Drivers Edge VISA Card, the only credit card in Canada to offer cardmembers cash rebates toward the purchase or lease of any new car. Thats any make, any model – foreign or domestic.
Next to a home, a car is usually the biggest purchase that most people make. The new Drivers Edge VISA Card allows cardmembers to earn up to $2,500 in cash rebates toward the cost of buying or leasing a new car, simply by paying for everyday goods and services with their Drivers Edge VISA.

Generally speaking, Canadians have a very realistic attitude toward their cars. According to a recent Citibank survey, the top three Canadian dream cars are the Chevrolet Corvette, the Ford Mustang, and the Jeep Cherokee. Earning $2,500 in rebates toward the purchase of that dream car could save from 10% to 15% of the cost of that vehicle. That same survey reports that the majority of Canadians dont want credit card rebates tied to a single car manufacturer, so Citibank is giving their cardmembers complete flexibility.

After the cardmember has negotiated the best possible deal, taking advantage of any special sales or promotions, enjoying any auto rebates accumulated on other cards, and the car purchase has been made, its easy to get the Drivers Edge cash rebate. Simply complete a Redemption Form and provide two proofs of purchase to Citibank. A cheque for the rebate amount will then be forwarded directly from Citibank within three weeks.

The cash rebates can be redeemed up to five years from the end of the calendar year in which they were earned. A maximum of $500 in rebates can be earned in any one year.

In addition to cash rebates, the Drivers Edge VISA Card has other unique features and enhanced member options:

–There is no annual fee

–There is an available credit limit up to $10,000

–Photo ID Option – Provided on its credit cards at no cost. Cardmembers may choose to have their photograph and signature digitally imprinted on the front of their credit card, making it an effective way to guard against credit card fraud.

–Price Protection – If a cardmember finds a lower advertised price for a product he or she has bought with their Drivers Edge VISA Card, Citibank will credit the Drivers Edge account with the difference.

–CreditShield – Covers the cards minimum monthly payments for up to two years in the event the cardmember is unable to work due to involuntary unemployment, sickness or accident (up to a maximum of $10,000)

For an information pack and an application form for the Citibank Drivers Edge VISA, call 1-800-417-9629.

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