Citi to give rewards members more points optionsTuesday, June 19, 2012 at 5:36:01 PM
These days, millions of consumers may be on the lookout for more beneficial credit card deals that will allow them to reap greater rewards or more convenience for every dollar they spend.
As such, Citi recently announced that it has partnered with the ticket site Live Nation to give consumers a new way to redeem the rewards points they rack up on the company's ThankYou accounts, according to a report from MarketWatch. Through the new deal, ThankYou cardmembers will be able to use their points at checkout to
buy tickets to concerts or other events they want to attend. Those who don't have enough points to buy the tickets in full using only their points will also have the option of completing the purchase using their Citi-branded debit or credit card.
Shifting borrower attitudes toward redemption
This new partnership, one of several such agreements Citi will try to close by the end of the year, reflects a shift in the way lenders allow cardholders to redeem the rewards points they accrue for every dollar they spend, the report said. In the past, many may have had some confusion or dissatisfaction with the way in which they were allowed to turn in their points or miles for various perks.
Now, more are sending out credit card offers for accounts that allow borrowers to redeem "
real-time rewards" - that is, points that can be redeemed to complete purchases through partner companies, the report said. By doing so, they hope borrowers' changing attitudes towards what constitute the best credit card rewards redemption options will attract them to these new offerings.
What constitutes a good rewards credit card?
If you're in the market for a rewards account, you've probably been sifting through a large number of credit card applications to find the one that works best for you. You'll need to keep in mind that
your new card should be one that you can afford - calculated given your current borrowing habits and the various costs associated with it, like interest rates and annual fees - as well as one that rewards you more for your current purchasing habits.
In many cases, new rewards credit cards incentivize certain types of purchases with bonus points and other perks your current accounts may not give you.