Update: We have confirmed with Citi that these changes will be going into effect on July 29th, 2018. It’s unclear why they removed details informing users of this change on the official price rewind page or why some customer service representatives were claiming it would go into effect on January 1st, 2019 with different limits. Cardholders should also start receiving mention of this benefit change on their monthly statements.
Citi has announced that on July 29th, 2018 they are making significant negative changes to their price rewind benefit. For those not familiar Citi’s Price Rewind is a price protection policy, if you purchase an item with your Citi card and then you find that same item at a lower price within 60 days Citi will refund the difference. They will be making the following changes on July 29th:
| Prior to July 29, 2018 | On or After July 29, 2018 | |
|---|---|---|
| How Long is Citi Price Rewind Available? | 60 days from date of purchase for each item | 60 days from date of purchase for each item |
| Maximum Benefit per item | The lesser of the following: $500 The amount charged to the Citi card | The lesser of the following: $200 The amount charged to the Citi card |
| Maximum Benefit per calendar year per account | $2,500 | $1,000 |
As you can see you’ll now be limited to a refund maximum of $200 per item instead of $500. In addition the maximum benefit per calendar year is $1,000 instead of $2,500. This will make it the less generous policy on the market. This is a shame as previously it was in with both Chase & Discover. You can view a full list of different price protection policies by clicking here. They are also excluding the following items starting on the 29th: consumables, tires, watches, firearms, ammunition or lower prices offered through a warehouse club where the merchant requires customers to pay a membership fee
Hat tip to OJtheJEWSMAN
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