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Having recently moved from a 1 bedroom apartment to a 4 bedroom house, I've bought a lot of things recently in order to fill up the new living quarters. My wife and I always do our best to sniff out the best deal, but sometimes we drop the ball and I have to tell you there's nothing more frustrating then paying for something only to learn soon after you could have paid less.
To erase this pain, Citi has decided to launch a new feature called "Price Rewind" which offers consumers a rebate if they've overpaid for certain merchandise. Here's a rundown of how the Price Rewind process works from start to finish:
- A Citi card members purchases a product online or in-store from a retailer (most products qualify, things like boats and animals do not). Here's a complete list of qualifying purchases.
- After making the purchase, card members register the product online in their Citi credit card account.
- Citi spends the next 30 days looking for a better price than card members paid. If they find a price more than $25 better than what you've paid, Citi will alert you.
- Card members will be requested to file a claim, with proof of purchase (receipt)
- So long as everything checks out, a check will be sent for the amount of the difference between the price paid and the price found by Citi.
The maximum amount that can be refunded in a single purchase is $250 and the most a cardholder can receive as a total refund in any calendar year is $1,000.
Price Rewind is a pretty impressive program, especially on the heels of the holiday season. With Christmas just a little more than a month away, owning a qualifying Citi credit card and using it specifically for your online and retail purchases is a great way to make sure you never pay more than you have to. According to a Citi press release 25% of the registered purchases end up qualifying for a rebate ... and most consumers buy a lot more than just four gifts a year (meaning most cardholders will be able to take advantage of this program, now and always.)
- All Citi cards are eligible to take advantage of the Price Rewind program, however if you use ThankYou points, a gift card or any other means to make your purchase other than a Citi credit card, you can not take advantage of Price Rewind for that particular purchase.
Citi Simplicity® Card - The Citi Simplicity Card offers up a 0% intro APR on purchases and balance transfers for 18 months. There are no late fees or over limit fees if you make a mistake or two with your Citi Simplicity account and the ongoing APR after the intro rate has expires is 12.99% - 21.99% variable and there is no annual fee to own.
Citi ThankYou® Card - A close second to the Simplicity on the introductory offer, the Citi ThankYou Card starts out with a 0% intro APR on purchases and balance transfers for 15 months. One ThankYou point is earned on all purchases. This credit card also does not charge an annual fee (and the ongoing APR is 12.99% - 22.99% variable).
*Editorial Note: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Citibank.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.