Citi is adding real-time rewards points redemption for select cardholders

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Citi is allowing select cardholders to redeem rewards points in real time through push notifications and emails:

select cardholders to redeem their rewards points in real time through push notifications and emails.The feature will roll out in early July for Citi Prestige, Citi Premier, Citi Rewards+, and Citi ThankYou Preferred cardmembers, and will send those who are opted in to the service a notification when they can redeem their points to cover all or part of a purchase they've just made.

Members will be able to use their points on a variety of products, including groceries and clothing, both in-store and online, and can receive reminder notifications in real time, daily, or weekly.Adding real-time rewards redemption can boost Citi cards' top-of-wallet status among customers after the firm removed some other rewards features.

Real-time redemption combined with notifications of opportunities to use the feature can boost consumer spending for Citi. Two-thirds of US consumers say they're moderately or highly interested in using their phones to redeem rewards points in real time, or that they already do, according to afrom TSYS.

This addition comes soon after Citi announced the removal of several rewards benefits, possibly to avoid alienating members. Citi has been removing a number of perks for various cards, including price protection and trip cancellation and interruption protection.

 

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