The Citi Dividend earns 5% cash back in categories that change quarterly, unlike other 5% rotating cards (Chase Freedom & Discover it) you can spend up to $6,000 in these categories per year (e.g you can spend the full $6,000 in one quarter). You can no longer sign up for this card directly (it was replaced when the Citi Double Cash card was launched).
Citi are making a number of minor changes to redeeming your cash back with this card, these changes will come into effect on April 19th, 2015. Here is quick summary of these changes:
- You no longer need to redeem cash back in increments of $50. Once you’ve earned at least $50 cash back you can redeem $50 and up (e.g $52.10).
- More redemption options:
- Redeem for gift cards: Use your cash rewards to redeem for gift cards in increments of $50 and $100
- Set up direct deposit: Redeem for a credit to your linked Citi Savings or Checking account or a non Citi checking account that you’ve used to pay a Citi credit card at least two times
I never see the point of redeeming for gift cards at the same rate you can redeem for cash back, but being able to redeem for $50 is very useful. It’s a shame that the minimum redemption is still $50, but that shouldn’t be a real issue if you get a category or two you like.
Thanks to Rapid Travel Chai for making me aware of these changes via e-mail.
