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Citi Challenges Market With 5% Cash-Back Credit Card Program

June 10, 2021
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Citi Challenges Market With 5% Cash-Back Credit Card Program

Citigroup Inc. will roll out on Thursday a credit card that will give up to 5% cash back on up to $500 of spending, CNBC reported.

Head of U.S. branded cards Pam Habner said the 5% cash back program will cover spending per month in a category from restaurants, groceries, or travel. A 1% cash back will also be given on all other purchases.

The card will come with a $200 signing bonus and will automatically apply the cash back to the user’s top spending category.

Users will be able to track their spending through a mobile application that will also indicate which category would yield the most rewards for the month.

Citi outsourced a survey on millennial preference on credit cards for the offering.

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