Citi Offers New Hilton Card to With Generous Rewards to Attract High-Income Consumers
Citi is offering a new credit card, Citi Hilton HHonors Reserve Visa Signature Card, aimed at frequent travelers with a high income. It not only increased the rewards for Hilton stays, but its advanced chip technology and no foreign transaction fees make this card a good choice for traveling overseas.
The Citi Hilton HHonors Reserve Visa Signature Card offers 10 HHonors bonus points for every dollar spent at the more than 3,800 Hilton Worldwide hotels and resorts. It also offers five points for every dollar spent on airlines and car rental purchases, and three points per dollar on all other purchases and various perks at Hilton properties. In addition, the card offers two weekend night certificates after spending $2,500 in purchases within the first four months of card membership. There is also an anniversary bonus of one weekend night certificate each year after $10,000 in annual purchase spend.
This generous offer shows credit card issuers are still courting high income consumers that pose less risk of default. Since these customers typically don’t carry a balance, this also indicates that issuers are still counting on revenue from merchant swipe fees despite the recent $7.25 billion swipe fee antitrust settlement that could reduce future revenue.