A new rewards credit card is being launched by Citibank on January 10th offering new twists. The Citi Rewards+ Mastercard will round up to the nearest 10 ThankYou Points on every purchase and provides cardholders with 10% points back for the first 100,000 points redeemed per year.
The new card also offers 2 ThankYou Points for every $1 spent at supermarkets and gas stations for the first $6,000 per year and then 1 point per $1 spent thereafter as well as 1 ThankYou Point for every $1 spent on all other purchases.
Additionally, new cardholders will receive a bonus offer of 15,000 ThankYou Points after spending $1,000 in purchases within the first 3 months of account opening – redeemable for $150 in gift cards – as well as a low intro rate on purchases and balance transfers for 12 months.
Citi research reveals U.S. consumers make an average of 14 routine purchases a week and only 28% are using a rewards credit card for those purchases (vs. 67% using cash).
With Citi ThankYou Points, cardholders can redeem their available points when they want and how they want on everything from gift cards to travel rewards, and statement credits to cash rewards. In addition, cardmembers can use their points for all or part of their purchase at participating Shop with Points partners like Amazon.com, Expedia.com, and LiveNation.com or for a statement credit at BestBuy.com and more.
Benefits of the Citi Rewards+ Card :
• Access to presale tickets and VIP experiences for thousands of events each year through Citi Private Pass
• Trip Cancellation and Interruption Protection
• Worldwide Car Rental Insurance
• Worldwide Travel Accident Insurance
• Damage & Theft Protection
• Extended Warranty
• 90 Day Return Protection
The new card offers an introductory rate of 0% for 12 months from date of account opening on purchases and from the date of first transfer for balance transfers. After that, the standard variable APR for purchases and balance transfers is 15.74% to 25.74%, based on your creditworthiness.
Meanwhile, credit card competition continues to heat up. Last month the Quicken World Mastercard was introduced.
The card earns 2X1 points on qualified net spending on purchases you already make, like groceries, dining out, utilities, cell phone service, cable, internet, club memberships, and even your Quicken software subscription
Additionally the card offers a Free Quicken Deluxe Subscription: Spend $500 in the first 90 days and receive one year of Quicken Deluxe. If you are already a subscriber, you will receive a one-year extension.