This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup Gets Creative to Boost Cards

"Nearly all of our customers now have the opportunity to earn back a portion of the increase each month," Citigroup said in a statement. "Eligible customers who do more business with us will have the most opportunity to reduce their rates."

Nearly half of Citigroup's customers will be eligble to earn back between 50% and 100% of the interest rate increases, the company says.

Citigroup is also offering balance transfer options to certain card users receiving higher rates. If a customer moves a balance from another card issuer onto their Citi card, the company will apply the lower balance transfer rate to the existing balance on the card.

"We want to reward customers for doing more business with us," a company spokesman says.

In addition, customers can "opt out" of the changes and choose to shut down the card, but still make purchases on the card until its expiration date, the company says.

Finding ways to get customers to put more on their credit cards is a sentiment echoing throughout the card industry. Consumers have slowed their spending on credit because of the economy, and are increasingly using their debit cards.

Card issuers are also looking to alter their card business models as large regulatory reforms will change how issuers make money -- essentially the elimination of risk-based pricing -- and give more transparency among fee changes are set to begin in February from the passing of the Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act in May.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AXP $52.59 -0.08%
BAC $12.20 0.00%
C $38.13 1.70%
DFS $45.87 0.00%
JPM $56.45 0.44%


Chart of I:DJI
DOW 16,059.13 +44.75 0.28%
S&P 500 1,874.25 +22.04 1.19%
NASDAQ 4,351.5520 +82.7890 1.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs