Citi Launches Citi Cash Back Visa Card

HONG KONG, CHINA--(Marketwired - Jul 27, 2017) - Citigroup Inc. (NYSE: C)

Citi announced today the launch of the Citi Cash Back Visa Card, which offers cardholders unlimited 2% cash rebate on local dining and hotel transactions, unlimited 1% cash rebate on other local spending, and unlimited 2% cash rebate on foreign currency spending, which effectively means having the 1.95% currency transaction fee waived -- the most comprehensive year-round cash back rates offered in a single credit card in Hong Kong. 

The Citi Cash Back Visa Card provides a simple and straightforward way to reward cardholders who prefer hassle-free reward redemption. The cash rebate, upon reaching HK$200 or above, will be automatically credited to the card account in the next statement cycle for offsetting outstanding balances and new purchases. No registration and reward points conversion are required. 

"As the world's largest credit card issuer, we are committed to delivering competitive card products that are relevant to our customers' spending habits and preferences. Hongkongers are known for their love for food and travel. With the new Citi Cash Back Visa Card, they are able to earn unlimited 2% cash rebate when dining out, including hotel spending which in Hong Kong are often not counted as eligible dining transactions. The unlimited 2% cash rebate on foreign currency spending also makes the Citi Cash Back Visa Card the ideal credit card for travelling abroad and shopping on overseas websites," said Lum Choong Yu, Head of Cards and Unsecured Lending for Citibank Hong Kong.

A research commissioned by Visa reveals that cash rebate is the most preferred credit card feature across all customer segments in Hong Kong. "Hong Kong people love cash rebate over other card features. Consumers have told us they want a reward program that is simple to earn and easy to redeem. We are excited to see the launch of the Citi Cash Back Visa Card with its clear and unlimited cash rebate earned," said Caroline Ada, Country Manager of Visa Hong Kong and Macau.

"Customers have different needs but one thing they share in common is their preference for attractive rewards, simplicity, and convenience when choosing a credit card. With the competitive cash back rates combined with the automatic, easy-to-understand reward mechanism, we are confident that the Citi Cash Back Visa Card will become the go-to cash back credit card for Hongkongers," Lum added.