Bad News: Citibank reducing rewards for Forward credit card

If you have a Citibank Forward credit card, check your mail or email (depending on how you receive communications from there). A letter from them earlier in the week reveals that the nice 5% reward on “Restaurants, Music, Movies and Books” (which included everything at Amazon.com) is going away in June 2016. It will be replaced with a boring 2% for those categories. Everything else will 1% as usual. This is in Thank You points, not “real money”. A silver lining, rewards earned after the new program is in place will never expire. Previously they expired in 5 years. The 100 bonus points for on-time payments will continue forward.

NOTE: Citi may have multiple variations of the Forward credit card. I do not know if the change affects all of them or only a subset.

An alternative for 5% rewards at Amazon is if you are a Prime member, and you get the Amazon Store credit card (not the one by Chase, but the store card), you can earn 5% as it can become a Prime Store card. You can only use the Amazon Store card for Amazon.com purchases.