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Citi Dividend Card Implements Quarterly Bonus Rewards

Late last week, I received a mailing [3] that explained the Citi Dividend Card would be, like a caterpiller after curling into a chrysalis, metamorphosizing into the Citi Dividend World MasterCard. On July 1st, 2010, the benefits of the card as well as the reward program, would be changing.

The big change is the introduction of quarterly bonus cashback promotions. This is an idea first popularized by Discover More with their Get More Program [4], now more and more reward cards are offering this. For the 3rd quarter of 2010 (July 1 – Sept 30), the bonus cashback is offered on purchases made at restaurants, car rentals, and hotels and the bonus percentage is 5%.

Here are some of the details of the reward structure:

Also, since the card is being “upgraded” to Citi Dividend World MasterCard, it includes all the benefits of a World MasterCard such as concierge service [5], price protection, travel insurance, etc.

It was a little unexpected because I haven’t used my Citi Dividend Card in what seems like a year in a half. I half expected the letter to say they were closing my inactive account! I have two Citi cards, the Citi Dividend and the Citi mtvU card, the mtvU being my primary card. However, the ThankYou Network [6] recently increased the price of Student Loan Payment Certificates in the catalog, making my mtvU card less valuable. I might start using the Citi Dividend World instead.

If you have a Citi Dividend card, did you receive the mailing too?