I have held a Citibank credit card since 2007 and have seen occasional promotional offers over the years, but targeted spend-based promotions have been rare for me. Recently I received a Citi spend-based offer for the first time that I can recall. Below are the details and my thoughts on the offer.
Offer Details
- Offer: Spend Rs. 5,000 and get an Amazon Pay voucher worth Rs. 250
- Duration: Spend between 29 April and 28 May 2021
- Type: Spend-based / Targeted
- Fulfilment: Reward to be credited on or before 90 business days from campaign end date
- Exclusions: All retail spends qualify except EMI for loans on credit card, balance conversion and transfer, Dial an EMI and Merchant EMI, cash withdrawals, fees and charges, standing instructions, and GST.
- Offer T&C
Note: Transactions made on add-on cards are counted toward the primary card’s transactions; add-on card transactions will not be treated as separate eligibility for the offer.
Reward rate: With this promotion, the effective reward rate for my spend is 5.5% (Rs. 250 on Rs. 5,000), albeit limited to that Rs. 5,000 band on my Citi Cashback card.
This is a decent targeted promotion for me, especially since I don’t frequently use Citi cards. While my offer is modest, I have heard reports of other cardholders receiving higher-value vouchers—up to Rs. 1,000 in some cases—so offers appear to vary by target group.
Bottomline
It’s worth noting that Citi announced plans to sell its retail banking and cards business in several countries, including India, a few weeks before this campaign. Receiving a targeted spend-based offer during a period of strategic transition is interesting and suggests Citi continued running promotional campaigns for existing cardholders.
Have you received any targeted spend-based offers from Citi recently? Share your experience in the comments below.