Citibank has launched a program to reward on-time cardholders with points. The new “Citi Card Payment Rewards” program offers one point for each on-time dollar paid. Cardholders who make six consecutive on-time payments receive 600 bonus points. Cardholders who sign up for the “AutoPay” service receive an extra 250 points. Points can be redeemed for a lower interest rate, cash rebate, merchandise, gift certificates, gift cards, or discounts. Cardholders can also lower their APR by 1% for 3 months for 3,000 points. Interest rates can be dropped 1% for 12 months for 5,000 points, or 2% for 12 months for 10,000 points. A $25 gift card can be purchased with 3,000 points. Cardholders can also opt for a cash rebate: 3,000 points for $15; 5,000 points for $25; or 10,000 points for $50.