I love it when credit card companies get competitive with each other. For all the bad press credit cards get, there is a lot of good to be had, if you use credit cards correctly. Citi Price Rewind is the latest example of how consumers win when they use credit cards the right way. Citi Price Rewind is a price protection program that works for consumers.
Citi Price Rewind – How it Works
Here is how it works:
- Make a qualified purchase entirely with an eligible Citi credit card in a store or online. Examples of common items Citi Price Rewind covers include electronics, appliances, clothing and toys. Full description of coverage and eligible Citi consumer credit cards, as well as exclusions and limitations, is included on www.citi.com/pricerewind.
- Register an item on www.citi.com/pricerewind, including where and when it was purchased and the price paid.
- For 30 calendar days after the purchase, Citi Price Rewind will search hundreds of retailers’ sites for a lower price on the same item.
- If a price that is at least $25 lower than what was paid is found, the cardmember will receive an email notifying them they qualify to request a refund.
- Once the customer files an eligible claim, a check refunding the difference in price will be sent to the Citi cardmember. Citi cardmembers can enjoy savings of up to $250 per item and up to $1,000 annually.
Citi Price Rewind Details
As you can see from the image above, there are a few things you need to be aware of: you need to register a Citi consumer credit card (business cards are ineligible for Price Rewind at this time). Once you make a qualified purchase, you need to register it at Citi, and their automated software will do the rest, automatically scanning the internet for a lower price. This happens around the clock for the next 30 days. If they find a price that is $25 or more less than your purchase price, you will receive the difference. There are limits, of course. You can only receive a refund of up to $250 per receipt, and $1,000 per year. Both of those are significant savings, however, and well worth using this service.
What is covered under Price Rewind? Great question. Like all good programs, there are exclusions. Most of them clearly make sense, such as boats, motorized vehicles, land, consumables, services, and other items. You can get a full list on the Price Rewind Description of Coverage. The Description of Coverage also covers details for how to make a claim for the refund, and several other important items.
Thoughts about Price Rewind
Overall, I think this is a great service for Citi customers, especially with Christmas (and Black Friday!) right around the corner. The advertised deals throughout the Christmas holiday season will certainly be lower than many purchases made in the next few days and weeks. This makes it easy to shop responsibly, without having to spend hours trying to save $25.
Need a City Card? Here are a couple options that are a good fit for more credit card users:
Citi® Dividend Platinum Select® Visa® Card. The Citi® Dividend Platinum Select® Visa® Card is one of my favorite Citi cards, because it offers solid cash rewards on all purchases. For example, you can earn 5% cash back every quarter in must-have categories. Right now, on purchases at Macy’s, drug stores, and fitness clubs from 1/1/14 – 3/31/14. It’s easy to enroll each quarter. Cardholders also earn 1% cash back on all other purchases. You may earn a total of up to $300 per calendar year. This card features a long 0% Intro APR on Purchases and Balance Transfers for 12 months. After that, the APR will be 12.99%-22.99% variable based on your creditworthiness* The 0% interest feature makes this a great card for those who already have a current credit card balance, or need a little flexibility for some upcoming purchases. To top it off, with this card you can earn $100 cash back after $500 in purchases within the first 3 months of account opening. There is No Annual Fee*. We have a full Citi® Dividend Platinum Select® Visa® Card review for more information, or you can Click Apply Now to see pricing details.
Citi Simplicity® Card. The Citi Simplicity® Card is a unique card that doesn’t charge late fees if you miss a payment, and there are no penalty rate hikes. In other words, this is a great card if you have irregular cash flow or sometimes have trouble paying in full each month. This card also features a long balance transfer offer and no annual fee. We have a full review of the Citi Simplicity® Card for more information.