Citi Ending Price Rewind Benefit

Filed Under: Citi, Credit Cards

Update: As it turns out Citi is making a lot more changes to their cards, including dropping car rental coverage, travel protection, and more.

Credit card issuers sometimes offer benefits that may not be part of a card’s core value proposition, but that still add value for many. A price match program is one of those, though over time we’ve seen fewer and fewer card issuers offer this.

The concept is that if you find a lower price on something you purchased after the fact, you can submit a claim and you’ll be reimbursed for the difference. This way you can make a purchase without worrying if you got the best price, and it also means that if a product goes on sale after you purchase, you can still take advantage of that.

It’s an awesome concept, though the problem is that like many other things, this benefit became too easy to use thanks to technology, and as a result it became too costly.

It has just been announced that the Citi Price Rewind program will be ending for purchases made as of September 22, 2019.

For purchases made prior to September 22, 2019:

  • Coverage will remain unchanged, and you may submit requests with a lower price found within 60 days of your purchase
  • Citi Price Rewind will continue to search for a lower price for 60 days from the date of your registered purchase
  • To start a price search, you must register within 60 days of your purchase; after November 20, 2019, no price searches can be started
  • Requests must be received within 180 days of your purchase; after March 19, 2020, no new requests can be submitted

These are the second major changes that Citi has made to this program recently. In July 2018, Citi changed this benefit so that they reduced the limit from $500 per claim to $200 per claim, and they reduced the maximum benefit per calendar year per account from $2,500 to $1,000.

So, why these changes? I’d say the intention with a program like this is to put people at ease when they’re making purchases, but they probably don’t actually expect most people to take advantage of it. However, now there are websites that make the tracking process super easy. That also makes this benefit super costly.

I imagine this was one of those situations where a very tiny percentage of card members were almost entirely benefiting from this, and it was just too costly to justify. The Citi website actually shows how many much people have benefited from this — last year alone, they paid out over 17.5 million dollars, spread across nearly 700,000 payments.

Will you miss Citi’s Price Rewind benefit?

(Tip of the hat to @IadisGr8)

Comments
  1. Did Chase completely remove their Price Rewind benefit last year? Are there any cards that will have this benefit after September?

  2. This is terrible, terrible news! Citi Price Rewind was one of the best features, along with 4NF.

    Also Waldorf Maldives is blocking all award space. Not sure if website glitch or something else.

  3. It’s not just price rewind… Check your Citi Benefits website. It looks like as of 9/22 Citi will he removing almost all benefits from their cards, including car rental insurance, trip delay, interruption and cancellation, baggage insurance, return protection, etc. Quite a shocking sudden change!

  4. Wow – – downgraded my Citi AA Plat card to the MileUp card and was only planning to use MileUp for Price Rewind opportunities. Hello sock drawer.

  5. Agree with DWT. All the travel insurance benefits are GONE! WTF Citi? They can’t help themselves with the Prestige…they keep changing it every five seconds. I think I’m done with it after this change. Why would I charge travel to it anymore? The insurance is more important to me than the points.

  6. I once missed a flight and got rebooked. My checked bag didn’t make it. I went on a shopping spree. Used my Citi Double Cash (this was before I really got into the credit card game).

    Not only did the airline cover my bill, I got a check for $40 from Citi Price Rewind!

    To be honest, I actually forget about it though. That’s the only time I ever try to use it.

  7. This is complete garbage! This really sucks, I just received my Citi Prestige card two weeks ago. The Price Rewind benefit was a big reason for the card on top of its other benefits. This card got significantly devalued.

  8. The Citi benefits page for the Prestige card claims new benefits will be coming, I assume some sort of replacements or equivalents? I hope so, otherwise, it doesn’t make sense to keep the card. My other Citi card did not mention any new benefits being added. The added benefits might just be for the Citi Prestige.

  9. Yeah this really sucks. I used this most effectively for appliances. The company with the best installation services is rarely the company with the best price. I would use this to buy from the company with the best installation and then find the best price (usually with a company that doesnt provide installation) and get a refund of the difference. Saved thousands using this service over the years on appliances, electronics, clothes, etc.

  10. Maybe a post to what are the remaining benefits is needed. Seems like it might be a short post. Not sure the Priority Pass access is now worth the $450/year.

  11. Disappointed Citi is discontinuing the Price Rewind benefit and other travel benefits. The price rewind was one of the best benefits of my Citi card, having some piece of mind that my purchase is eligible for a possible credit should the item purchased be priced lower on some other website. Guess I’ll be cancelling my Citi card and taking my business elsewhere where there are some decent benefits left, if any.

  12. The Citi Price Rewind and Return Protection were unique to Citi cards and I’m sad it’s not going to be available after September 2019. I have recommended this card to friends and they signed up for this card, due to the 2% cash back and the shopping benefits. Other cards have travel benefits but Citi was the only card that had this type of shopping benefit. 🙁 I’m hoping they reconsider–perhaps they can reduce the Price Rewind and Return Protection benefits but don’t get rid of it entirely.

  13. Very disappointing news, this was one of the main reasons I’ve kept this card around. With the car rental coverage going away as well I don’t expect I’ll be using this card anymore.

  14. Well the Price Rewind and Return protection were the best features of this card. If the average payout was $25 last year, then I would gladly pay $25 annual fee to keep these benefits. When these benefits go away, so too will my usage of this card.

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