CitiMortgage Rewards Credit Card

[Anonymous]

Has anyone heard of this card that supposedly helps you reduce your mortgage balance (Rewards style)?

I was on the phone with them last night since I paid my mortgage the other day and the only thing that showed up on my online account statement was the little bit extra I paid them to bring my escrow balance up a bit and the extra hundred I always include with my payment.  Strange that the payment didn't show up but the extra did.  I still don't have that resolved.

So while I was on the phone with them the CSR offered me a CitiMortgage credit card.  I declined the offer since I could only understand about 1 word in 3 that she was saying and asking questions of her was difficult at best.

Any information about this card would be helpful.

Van

[haulingthescoreup]

I hadn't heard of this one; sounds interesting. Here's their link:

https://www.citicards.com/cards/wv/cardDetail.do?screenID=934

You Could Save Thousands on Your Mortgage with Up to 6% Rebates on Purchases2

Own your home faster when you use your Citi Home Rebate Rewards card for the same purchases you make everyday.

* Earn 6% in rebates on Internet connections, telecom services, cable, satellite (including other pay TV and radio services), and utilities for 12 months2
* Earn 1% in rebates on all other eligible purchases2

Once a year, the rebates you've earned will be sent to your mortgage company to be applied toward your outstanding principal. With no cap on the rebate amount, you could save months off the term of your mortgage and thousands of dollars in principal and interest.

Need more information? Read about the Home Rebate and find out how much you could save.

Message Edited by haulingthescoreup on 03-21-2008 11:48 AM

[Anonymous]

Thanks Hauling,  I had just found this

http://citi.bridgetrack.com/usc/08/HomeRebate/Aggregator/NOBT/default.htm

when I checked back and you had posted the other link. 

It does sound interesting.  I was pretty much in gardening mode like a lot of folks here, but I am tempted.

Van

Message Edited by Vanyel on 03-21-2008 08:14 AM

[haulingthescoreup]

In a year's time (really!) I'm consolidating cards. I'll hang on to my CU cards, and I want to get one high(ish)-CL plain ol' bank card, without a tie to any stores. Right now, BofA and Citi are the leading candidates, assuming that either of them are still in business in a year's time.

I wouldn't mind a rewards card that kicks some cash back into the mortgage principal once a year...