NEW YORK–(COMMERCIAL THREAD) – Today, Citi is launching another type of cash back credit card with no annual fee *: Citi Custom Cash. The card automatically adapts to the ever-changing spending needs of cardholders, rewarding them with 5% cash back on their highest qualifying spend category – from restaurants to groceries to mailing streaming and travel and more – every bill cycle up to the first $ 500 spent and 1% cash back on all other purchases. Earning money with Citi Custom Cash is easier than ever, without cardholders needing to manually select, enter or change reward categories on a periodic basis; instead, the card automatically adjusts to their spending trend.
Additionally, new cardholders will receive a $ 200 cash back offer after spending $ 750 on purchases in the first 3 months of account opening, as well as a low introductory rate on purchases and balance transfers for 15 months.
The Citi Custom Cash Card is a perfect choice for all customers who want to be rewarded for just being themselves. In fact, a recent Citi study shows that 82% of Millennials’ spending varies from month to month based on their changing interests and priorities, and 87% express a desire for a credit card that gets the job done. for them to maximize their rewards based on their changing spending habits.
And the redemption is just as easy and flexible. Cash back is earned in the form of Merci points, which can be redeemed for cash back in the form of direct deposit, check, or credit on a statement. Cardholders can also choose other ways to redeem points, including gift cards, charitable donations, travel, purchases with points on Amazon.com, and more.
âCustomers have told us they have a strong desire to have a card that keeps pace with their pace and automatically adapts to their ever-changing lifestyles,â said Pam Habner, US Branding and Loans Manager. unsecured at Citi. âThis is why the new Citi Custom Cash card is a game-changer in the industry, allowing customers to earn and redeem rewards their own way. ”
According to Millennials surveyed, more than a third (36%) said their spending has changed in the past year and their current credit cards aren’t rewarding their new spending patterns. And, in the future, this group is eager to resume their favorite activities and be rewarded for it, saying they are more eager to travel (66%), to eat out (45%), to go go to a concert (31%), go to a party (25%), and go to an in-person workout or fitness class (17%). For many consumers, cash back is the fuel that makes these activities possible, so much so that more than two-thirds of Millennials (69%) say that getting cash back is absolutely essential or very important to them when requesting. of a new credit. menu.
The main categories of eligible expenses of the personalized payment card are: restaurants, gas stations, grocery stores, certain streaming services, certain trips, certain public transportation, home improvement stores, health clubs , live shows and drugstores.
For more information on the new personalized payment card, visit citi.com/customcash.
* Citi Custom Cashâ card pricing and information: 0% introductory rate for 15 months from the date the account is opened on purchases and a 0% introductory rate for 15 months from the date of the first transfer for balance transfers. After the introductory period ends, your standard APR for purchases will be applied to unpaid promotional balances, new purchases, and new balance transfers. The standard variable APR for Citi Custom Cashâ card purchases is 13.99% to 23.99% depending on your creditworthiness. The standard variable APR for Citi Flex Plan is 13.99% to 23.99%, depending on your creditworthiness. The standard variable APR for cash advances is 25.24%. The variable APR penalty is up to 29.99%. Minimum interest charge – $ 0.50. Annual membership fee – None. Fee for overseas purchases – 3% of each purchase transaction in US dollars. Cash Advance Fee – either $ 10 or 5% of the amount of each cash advance, whichever is greater. Balance Transfer Fee – $ 5 or 5% of the amount of each transfer, whichever is greater.
2021 Citi Personalized Payment Card Survey
The Citi Custom Cash Card survey was conducted by Harris Poll among 1,009 U.S. adults aged 25 to 34 between May 5 and May 13, using an email invitation and a online survey.
Citi, the world’s largest bank, has approximately 200 million accounts receivable and operates in more than 160 countries and jurisdictions. Citi provides consumers, businesses, governments and institutions with a wide range of financial products and services, including consumer banking and credit, business and investment banking, securities brokerage, financial services transaction and wealth management.
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