Credit card companies are in constant competition with one another to gain you as their customer. One way they approach this is with 0% introductory rates. Another approach is the rewards program. In this first of a series of in depth articles on credit card rewards programs, the president and CEO of Credit Card Depot Inc examines the Citi Thank You Rewards Network Program.

Currently, the Citi Simplicity(SM) Rewards Card, the Citi Platinum Select, and the Citi Diamond Preferred Rewards Card all offer thankyounetwork rewards. But what exactly are these rewards. They are points earned for every dollar spent that can be redeemed for everything from gift certificates to reduction in your interest rate. Here, I will focus on the gift certificates. Beginning at around 1,500 points, you can receive a free $10 gift certificate to a wide range of major retailers. As our points increase, so do their value. For 10,000 points, you can get a $100 gift certificate to these same great retailers.

Aside from retail gift certificates, you can vouchers for hotel discounts, free skiing pass, free movie tickets. There truly are a ton of rewards options available through this citicards program.

Now, some of you may be rolling your eyes at the fact it takes $10,000 of spending to get $100 in rebates. But the fact of the matter is, getting rewards is easier than you think. For starters, both the Citi Simplicity(SM) Rewards Card and the Citi Diamond Preferred Rewards offer new consumers a great signup incentive: thousands of free points. For the Citi Simplicity(SM) Rewards Card, all you have to do is make one purchase in your first three months with the card and you are awarded a $100 gift certificate. Imagine that, a credit card paying you to use their card. The same holds true with the Citi Diamond Preferred Rewards Card. Citicards will give you a $50 gift certificate for using that card.

Okay, so you get the free points up front, but how can you really take advantage of the rewards offered by Citibanks Thank You Network. Use you card for all your everyday purchases and pay your balance in full each month. Between groceries, gas, eating out, and other common expenses, you might find yourself with a few hundred dollars worth of rewards by the end of a year. Not too bad for simply using your credit card in place of cash or a debit card.

Citis Thank You Rewards Network, which charges no annual fee, adds great value to Citibanks credit card offerings. While the Citi Simplicity(SM) Rewards Card and the Citi Diamond Preferred Rewards Card offer the added incentive of a free gift certificate, the Citi Platinum Select card should not be overlooked, as it offers one of lowest interest rates on the market.

Overall, the credit card rewards available through Citibank are top notch. However, in my next article, well see how they stand up to the credit card rewards pioneer, American Express.

Copyright 2006 Credit Card Depot Inc. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-depot.com.

Jeff Weber

A two year veteran of the credit card marketing industry that has seen the good, the bad, and the ugly. I've helped over 10,000 consumers find the right credit card, and my goal is to help readers understand how to take advantage of the great value many credit cards offer.