Citi - Diamond Preferred Rewards Card Review

As with all rewards / points / cash-incentive programs, it is always best to pay off the monthly bills and avoid the interest payments.  Like the rest, Citi offers its version as the Diamond Preferred Rewards card.  With all purchases, you receive 1% back in points.  However, when you visit their Rewards site to redeem the points, not all gift cards and items (they offer things from dvds to cameras to tvs) give you 1% in dollars.  For example, a $50 gift card may cost you 6000 points, which is less than 1% (it's actually 0.8%).

The best value is a $100 gift card for 10000 points, but it will take a while to accumulate the points, and the department or retail stores that are available are always subject to change.  The worst value for your points are items, like a $90 camera for 12000 points.  If you're tempted to exchange the points for an item, browse around other sites (like Best Buy or Amazon.com) to see the retail value of an item.

It's still good to have a "bonus" in rewards for everyday shopping, but you have to be wise on how to get the most for your points.