A recent NY Times article revealed that starting soon, rewards that you get when using your Citi credit card will be available with the normal use of your credit card at participating retailers. What a fancy-pants idea, Citi!
With the new credit cards, customers will be able to push a button on their card to choose whether the transaction they are about to complete will be on their credit card or from their rewards account. This makes the rewards redemption process much easier for everyone. Although most people don’t have a massive amount of rewards, it would be nice for them to be able to use them on small items consistently or to save them up for larger items.
Whatever the case, it is a big step in technology for these cards to even exist because they have so much technology packed into a normal-sized credit card. Whatever the case may be, Citi has a great new product on its hands and should, after a little more research and development, jump on the PR train to get ahead of their customers. I have noticed that Bank of America is advertising that you can deposit checks in ATMs directly now, something that Chase has been doing for awhile. However, Bank of America looks like the cool kid because they actually advertised it and people now think they are the first to do so.
Regardless, Citi’s at the forefront of new banking technology, and hopefully they’ll promote this cool new product well.