Citi Price Rewind is your automated bargain hunter: buy an item, and if Citi finds the same item at a reduced price, you’ll be refunded the difference.
It sounds too good to be true, doesn’t it? Thus far, though, it’s worked. Citi Price Rewind has successfully found a match and given the cash back to customers on a quarter of costlier, $100-plus items, according to Ralph Andretta, head of co-brands and loyalty at Citi Cards.
And now, more than ever, the program helps consumers adapt to a quickly changing shopping world, where bargains are becoming more common than not: e-commerce has reshaped the holiday season such that big-box retailers discount more aggressively than before, and they implement deals quicker than ever to respond to their competitors’ dropping prices. With Citi Price Rewind, you can take advantage of these deals without the work.
How it works: Citi Price Rewind searches hundreds of retailers’ sites in the 30 days after purchase to find a lower price. Citi will then refund the difference if it finds the same item marked down $25 or more. That refund is capped at $250 per item and $1,000 per year. Although this program, naturally, is promoted most heavily around the holidays, when discounts are most common, Citi Price Rewind actually runs all year.
To reap the benefits: Register to join the program. When you buy something, register the item with all the requisite information, including place, date and price of purchase, and be sure to keep your receipt. And do so as soon as possible, as Price Rewind covers you only for the 30 days after purchase, not the 30 days after registration. If you find a lower price on your own, you can also submit a Rewind request manually.
Restrictions: Not all Citi cards are eligible; their business credit cards, for example, can’t take advantage of this program. Some items are not covered, either, but the restrictions aren’t too bad. They’re what you’d expect: pets and perishables are not covered, and neither are jewelry and airline tickets. There are also some more obscure restrictions: if the lower-priced item is advertised with the words “bonus” or “free”—as in, “buy 1, get 1 free”—then it’s not covered by Citi Price Rewind.
Sign up for the NerdWallet rewards newsletter for deals of $300 or more.