Ok, Now It’s Official

Received in the mail tonight, starting October 13th, the new Citi Dividend Reward program works as follows:

• 2% cash back on purchases made at supermarket, drugstores, and gas station;
• 2% cash back or more at convenience stores and for electricity, gas, water supply, refuse services, excluding phone services;
• 1% cash back on all other purchases;
• 1% cash back on cash advances.

In addition,

• 5 dividend dollars for each balance transfer of $1500 or more;
• Dividend dollars redeemable after reaching 50 (payable with check at request);
• A maximum 300 dividend dollars in a calendar year.

With these new changes in place, there is nothing attractive except the utility part. The Dividend card will soon become just an ordinary card with ordinary rewards. At least it will no longer be my first choice at gas stations and supermarkets. When the changes take effective in October, I will probably charge my daily purchases with my Fidelity 529 reward card, which earns me 2% cash backs on all purchases.

Time to consider some alternatives?

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