CITIBANK GIVES DRIVERS REBATES ON NEW CARS
By Adnews Staff
Citibank Canada launched a new Visa credit card in Ontario and the Maritimes this week that will help users save money when they buy a new car. Called Drivers Edge Visa, the card offers up to a $2,500 cash rebate when cardmembers purchase or lease a new car. The rebates comes directly from Citibank after the car purchase has been made. Once the purchase is made, the cardmember returns a redemption form, along with two proofs of purchase to Citibank. Cash rebates can be redeemed up to five years from the end of the calendar year in which they are earned. A maximum of $500 in rebates can be earned in any one year. The cash rebate received will be based on 2% of the monthly purchases made on the Drivers Edge credit card for the entire rebate period. Other features of the card include Price Protection and CreditShield. Under Price Protection, if a cardmember finds a lower advertised price for a product he has bought with their Driver's Edge Visa card, Citibank will credit the account with the difference. CreditShield covers the credit card's minimum monthly payments for up to two years in case the cardmember is unable to work due to involuntary unemployment, sickness or accident. In addition, cardmembers have the option to have their photo on the card to guard against fraud. The card will be promoted using direct mail and print ads. The direct mail will be handled by Wunderman, Cato, Johnson of Toronto, while Young & Rubicam of Toronto will create the print ads. Citibank will launch the Driver's Edge credit card on the West Coast later this month, in Manitoba and Saskatchewan in early February and in Quebec later next month.