Citi Diamond Rewards Credit Card Changes Redemption Program

I was disappointed when I logged into my Citi Card Thank You Network Account to find that they "modified" the awards program. It now takes 6,000 point to earn a $50 gift card. These points are earned as part of the reward program for the Citi Diamond Preferred Rewards card. You earn 5 point/dollar for gas, groceries, drug stores and 1 point/dollar for all other purchases.

The original program was almost an exact match of the Citi Dividend Rewards Card that earned you $.05/dollar for gas, groceries, drug stores and $.01/dollar for all other purchases except the reward is in the form of gift cards not cash.

Recently it was announced that CitiCard was reducing the Dividend Card rebate award to just $0.02/dollar for gas, groceries, drug stores, convenience stores, and utilities and $.01/dollar for all other purchases. However, I had not heard of any changes in the Thank You rewards program till I logged in and noticed the redemption change.

The good news is that $100 gift cards are still available at the original 10,000 point redemption price. This still allows card members to earn an equivalent $.05/dollar on gas, groceries, and drug stores but raises the required amount of points needed to make a redemption.

I am still planning on keeping my Citi Diamond Reward Card as my primary card for gas, groceries, and drug stores; however, I am disappointed on the move and will be watching closely for future changes to the program.

Tags: balance transfer, rewards,

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Comments (2)

Hi 2Million,

Isn't it ironic that credit card companies have so much power to simply CHANGE the terms of their reward programs. Bait and switch, bait and switch!

I am leaving this comment as part of my "100 Comments Series" over at No Credit Needed.

Love your blog,
NCN

Posted by NCN | October 6, 2006 11:19 AM

I was thinking of getting a reward card to get something back from all of our spending. I have now, a mobil and chevron card. WE eat a lot too, as far as you can tell is the citi bank card , the best deal out there?

Posted by Joe | October 8, 2006 11:51 PM