Citi partners MySpace on reward card

Citi partners MySpace on reward card

Citi has teamed up with MySpace to launch a credit card that lets customers earn reward points for acts of financial and social responsibility.

Citi Forward by MySpace cardholders can earn "ThankYou Points" for completing socially responsible acts, such as donating to food drives, going paperless, switching to energy efficient light bulbs and volunteering.

The points can be used for rewards and experiences from MySpace, such as music downloads, VIP concert tickets, private concerts and trips to movie premiere screenings.

The MySpace card is one variation on the Citi Forward offering, which is designed to reward responsible financial behaviour, with cardholders earning points for paying bills on time and staying under the credit line. The card also lowers the purchase interest rate by a quarter of a per cent when customers "use credit wisely".

Citi Forward customers also have access to an online spend tracker tool, categorised monthly statements that break down outgoings to show where money is being spent, e-mail and text alerts and free education tips at UseCreditWisely.com.

George Awad, CEO, Citi Cards, says: "Citi is committed to providing today's consumers with the products, guidance and financial resources they need to use credit wisely."

Back in 2007 the UK's Co-operative Bank launched a credit card that rewards customers for making ethical purchases.

Comments: (1)

Paul Penrose
Paul Penrose - Finextra - London 04 March, 2009, 15:29Be the first to give this comment the thumbs up 0 likes

Citi? Rewarding responsible financial behaviour? That's a novel idea - shame they didn't think of a similar executive-level scheme a few years back. Still, it's a step in the right direction I suppose.

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