Credit Card Rewards Programs Explained: Citi?s Thank You Rewards NetworkPosted by Nick Niesen on October 29th, 2010 Credit card companies are in constant competition with one another to gain you as their customer. One way they approach this is with 0% introductory rates. Another approach is the rewards program. In this first of a series of in depth articles on credit card rewards programs, the president and CEO of Credit Card Depot Inc examines the Citi Thank You Rewards Network Program. Currently, the Citi Simplicity(SM) Rewards Card, the Citi® Platinum Select, and the Citi® Diamond Preferred® Rewards Card all offer thankyounetwork rewards. But what exactly are these rewards. They are points earned for every dollar spent that can be redeemed for everything from gift certificates to reduction in your interest rate. Here, I will focus on the gift certificates. Beginning at around 1,500 points, you can receive a free $10 gift certificate to a wide range of major retailers. As our points increase, so do their value. For 10,000 points, you can get a $100 gift certificate to these same great retailers. Okay, so you get the free points up front, but how can you really take advantage of the rewards offered by Citibank?s Thank You Network. Use you card for all your everyday purchases and pay your balance in full each month. Between groceries, gas, eating out, and other common expenses, you might find yourself with a few hundred dollars worth of rewards by the end of a year. Not too bad for simply using your credit card in place of cash or a debit card. Citi?s Thank You Rewards Network, which charges no annual fee, adds great value to Citibank?s credit card offerings. While the Citi Simplicity(SM) Rewards Card and the Citi® Diamond Preferred® Rewards Card offer the added incentive of a free gift certificate, the Citi® Platinum Select card should not be overlooked, as it offers one of lowest interest rates on the market. Overall, the credit card rewards available through Citibank are top notch. However, in my next article, we?ll see how they stand up to the credit card rewards pioneer, American Express®. Like it? Share it!More by this author |