All You Need To Know About Citi Price Rewind in 2022

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Understand how Citi Price Rewind works, what its pros and cons are, and what changes have happened in 2022. Get to know all the information related to the Citi Point Rewind Program in 2022.

Citibank has been ending a series of credit card benefits including the Citi Price Rewind Program, travel protection, and interruption protection. Their plan to end such programs has been in the cards for the last couple of years. As of July 29, 2018, Citibank had already introduced a devaluation of Citi Price Rewind by decreasing the per item and annual limits by a whopping 60%. Now, since September 22, 2019, Citibank has decided to completely remove the Citi Price Rewind Program from its repertoire, much to the dismay of a large section of the populace who used to depend on this program for price protection.

Citi Price Rewind: Overview 2022

Citi Price Rewind is a price protection program that Citibank provides to its loyal credit card users who have also registered for online account access. This program is not extended to debit card users or credit card users who use their cards strictly for business. It enables you to get refunds from any product that you purchase at a higher price than the Citi Price Rewind Program can find. Note that this program is only valid if you bought the product with your Citibank credit card.

Citi Bank Rewind Credit Card
Citi Bank Rewind Credit Card

In July 2018, Citibank decided to devalue its Citi Price Rewind program by cutting down on the per item and annual limit by around 60%, much to the chagrin of the Citibank credit card users. This brought down the per product claim to $200 from $500 and the annual limit from $2500 to $1000. Certain items have also been excluded from the list of products you can get refunds from. These include ammunition, watches, tires, firearms, and consumables. Also, if the lower price is available only to the members of a particular club which requires you to be a member or has a membership fee, then such purchases are also to be considered unfit for this program.

Then, in September 2019, Citibank confirmed that the Citi Price Rewind Reward would hitherto be ended due to “sustained low usage”, according to their official press release.

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Citi Price Rewind Program [Pros + Cons]

Even though the Citi Price Rewind Program has been discontinued by Citibank, it is essential that you have a clear idea about the pros and cons associated with it in order to make an informed decision about what to look for and what to avoid when it comes to an alternative price protection program of your choice.

Citi Bank Rewind Program
Citi Bank Rewind Program

The pros of the Citi Price Rewind Program are as follows:

  • Provides an opportunity for price protection such that if you get a lower price for a specific product that you buy using your Citibank credit card, then the price difference will be refunded to you. 
  • The Citi Price Rewind Reward is good for buyers who buy small stuff with their Citibank credit card. The accumulation of refund money over a year can go up to  $1000, which makes for a good amount of extra money. 
  • The Citi Price Rewind interface is user-friendly. You just have to log in and then search for the purchased product in the Citi Price Rewind Program section. If there is a lower price, then you will receive it via check or annual credit.

The cons of the Citi Price Rewind Program are as follows:

  • With the imposing of restrictions, the Citi Price Rewind Program now only offers $1000 as the annual refund limit, a sharp cry from the $2500 that it used to provide. 
  • The Citi Price Rewind Reward is not that effective for larger purchases because the per-item limit is just $200. 
  • A lot of items including watches, ammunition, consumable items, tires, and firearms are excluded from this program. You will also not get a refund if the lower price belongs to an exclusive club where there is a membership fee, thereby disqualifying certain fandom merchandise as well.

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What Is Price Protection? How Does It Work?

What Is Price Protection?
What Is Price Protection?

Price Protection is a credit card benefit that enables you to accumulate quite a bit of extra money across the year. This is provided by a significant portion of credit card companies, but due to a lack of awareness, a lot of the patrons do not use it. Simply put, price protection offers you the benefit of getting a refund if you find a lower price of a product you purchased using your credit card within a stipulated period of time.

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What Are The Benefits Of Citi Price Rewind?

Benefits Of Citi Bank Rewind Program
Benefits Of Citi Bank Rewind Program

The Citi Price Rewind Program offers quite an amount of refund money if you know how to use it. With Citibank, the responsibility of finding lower prices is not on you. It is automated and AI-based. There is a 60-day time period within which you can get your refund and the per item refund is $200. Annually, you can make around $1000 from this program, especially if you are vigilant during sales.

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What Has Changed In Citi Price Rewind 2022?

Citi Bank Rewind Program Changes
Citi Bank Rewind Program Changes

As of 2022, the Citi Price Rewind remains discontinued. As of now, alternatives to this program have to be found. Take a look at the policies of the other Citibank-issued credit cards that you own such as the Citi Double Cash Card with its 18 months BT offer or the Citi Prestige.

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Bottom Line: Citi Price Rewind Program

The Citi Price Rewind database offers you a cashback on your credit card use if it finds a lower price of a purchased product. This refund is the price difference and it will be provided to you via a check or a statement credit. But, now that the program has ended, other options such as Barclays and Chase can be considered.

FAQs

Does Citi have a 5/24 rule?

No, Citi does not have a 5/24 rule. You can only apply for one Citibank card every eight days.

Is Citi double cash actually 2%?

With no annual fee, the 2% Citi double cash is hard to beat. You get 1% when you buy a product and another 1% when you pay it off. 

Will Citi automatically raise your limit?

Yes, Citi will automatically raise your limit if you have a great credit score and make timely payments.

2 thoughts on “All You Need To Know About Citi Price Rewind in 2022”

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    • Thanks, Oren, keep in touch with us and let us know what kind of topics you would like to read in the future. Your feedback is very important for us to improve. Congratulations on getting a new iPhone. Is it a new iPhone 14?

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