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August 14, 2006
Earn $40 from Citibank - follow-up
Last month, I linked to an offer from Citibank to try out their Credit Protector and earn an easy $40 bucks.
Well, I signed up. I didn't get a $40 check or even a $40 statement credit. Instead, I got a rebate form to send in, along with receipt(s) totalling $40, from purchases using my Citibank card. I have to mail in the rebate form within 90 days.
Now, Citibank is counting on a couple of things. One, that I'm too lazy to save a receipt, put it in an envelope, and mail in the form. I am pretty lazy, but not that lazy. I mean, $40 - c'mon, I can do that. Second, they are counting on me buying stuff and then charging me $0.85 per $100 in balances per month in Credit Protector bogusness to start recouping that $40 incentive. Well, I bought $39.65 in gas, mailed in the receipt, and the next day used online bill payment to send in $39.65 to give me a $0.00 balance.
The check is supposed to arrive in 4-6 weeks. I don't know that I have to keep Credit Protector active in order for them to send the check, but I will. I just have to make sure not to charge anything to that card.
So it still looks like you can earn $40, but it requires a little tiny bit of work.
Posted by brian at August 14, 2006 06:14 AM
Comments
You don't have to keep it active. You actually don't even have to use their card for the purchases. You could just use your debit card or even cash. I work for Citi and I do the same thing. I did it once over the phone. They give you $15 then, I saw online they were offering $20 per account (I have two) and just stumbled upon the $40 offer last night. Couldn't pass up $80. I always call the day I get the CP packet in the mail. Then I go and buy my gas or whatever and send them the reciept. Get a check about a month later. Between this and checks that I have cashed for other programs. I have increased my "pay" about 2-3 hundered dollars over the last year.
Posted by: Stu at August 16, 2006 11:40 PM
Thanks for the tips. I'm gonna try this on my girlfriend's two accounts.
Posted by: brian at August 17, 2006 08:35 AM
Good timing. On the MSN website today: "According to the Federal Trade Commission, the claim rate for mail-in rebates is just 50%. That's right. Half of the time, the store gets full price, making rebates a fabulous gamble for retailers."
That's what Citibank is counting on. You're right on.
Posted by: Theresa at August 21, 2006 07:49 PM