Boston, MA 10/23/2013 (wallstreetpr) – In an apparent attempt to reward loyal customers and perhaps boost its performance in the industry, Citigroup Inc (NYSE:C) has launched a unique yet very ambitious points-earning avenue for its Citi ThanYou Premier cardmembers.
It goes that for spending on entertainment and restaurants, the cardmember earns three of what is called ThanYou Points for every dollar spent. In another level, cardmembers spending on airfare and hotels abroad earn two points on every dollar spent using their card. The third loyalty reward level earns cardmembers one point per dollar spent on other purchases.
According to the Citi’s Director of Rewards Product Management, Chris Fred, the global bank holding company has identified categories where its cardmembers are seeking their loyalty to be recognized. In this case, entertainment, travel and dining rank on top of loyalty recognitions sought by Citi ThankYou Premier cardmembers. So members in this class have enhanced opportunities to earn points that could see them win big awards and also enjoy their being part of the global community of Citi.
Basically, under this loyalty reward initiative, the card has triple points reward for spending on anything from taking coffee to dining in a four-star hotel and appearance in any sporting event. So there are no restrictions about how high or how low a cardmember is required to spend.
In the same way, pending on hotel and airfare also has no cap, and cardmembers earn 2 points on ever dollar spent in such situations.
Then of course, the purchase the cardmember makes with the card also attracts points in the rate of one point for every one dollar spent.
The Citi ThankYou Premier Card has global acceptance and attracts no foreign transaction fees on the purchases made using the card. This cardmember loyalty program not only earns ThankYou points to holders, but they also get access to some of the most exclusive treats offered by Citi. And such treats are plenty.
So what is the culmination of this Citi loyalty program? Well, cardmembers can redeem their points for awards such as gift cards, electronic and so on. This is basically a well thought out strategy to ensure that Citi excites its global customers and maintain their patronage against the red-hot competition in the industry. So in a sense this is one way of putting more money into the hands of investors.
