$50 Free Visa Gift Cards from Citi

I was excited to get an email in my inbox from Citicards offering $50 in free Visa Gift Cards if I sign up for their Credit Protector program. What a deal! And, this offer is open to all you who own a Citi Credit Card, too.

Don't have a Citi Card? Read my post here on the benefits of using credit cards, and two of my favorites...the Citi Drivers Edge Credit Card ( 6% back on Gas, Groceries and Drugstores ) and the Citi Home Rebates Credit Card ( 6% back on utilities, Internet, phone, cell phone, garbage, etc ). Click here if you would like to get your own Citi Home Card.

Back on topic....here is my experience with Credit Protector from Citi. I have been signing up for the program for years. Every time, it was because of an incentive like this. What happens is you get protection on your card in case of the event you can't pay your balance. They will pay your minimum balance for a set amount of time.

For example, I was under the program ( and making money thanks to this exact offer ) when I had my last baby. Because having a baby is considered a life event, they paid my minimum balance for 2 months...which was $20 a month. So, I made $40! I, of course, paid the remaining balance each month, so I wouldn't get charged finance charges, but I loved receiving that extra money.

It is also covers other things, such as a loss of a job, etc. You will want to read all the terms.

But, the main reason I always have the program is for these incentives. They sign you up with a 30 day free trial, and then I call to cancel. Every time I have called to cancel, they have offered me $50 in free Walmart Gift Cards to remain a member. They break it out by giving you $10 a month for 5 months. Hmmm? OK. That is quite a deal!

Now, since you are getting the $50 in Visa Gift Cards upfront, you won't even need to cancel for 5 months unless you want to try and lower your bill...read below.

How it works is that you get charged 85 cents per hundred dollars you charge each month. So, for example, my Citi Home Rebate card I only use to charge utilities...nothing else. I usually charge just over $100 a month on it. So, you would get charged approximately 85 cents a month charged to your card. BUT, they send me a $10 Walmart Gift Card each month. Not a bad profit, plus I have protection on my card!

But, there is another kicker. They have less expensive programs. Once you sign up here, call before the end of your 30 day free trial and ask if they have any cheaper plans, because they do!! I am currently paying much less than 85 cents per $100. They switch you over to the cheaper plan, but you still get your $10 a month.

As I know many of you already signed up for the Citi Credit cards, click here to register for Credit Protector and get your $50 free! And, don't forget to mark your 30 day mark down in your planner, email calendar, and cell phone calendar. Call then to see if they can move you to a less expensive plan.

Then, mark the 5 month anniversary in your planner, email calendar and cell phone calendar. This is when you will want to call and cancel your membership. BUT, don't be surprised if they offer you another $50 incentive. That is how it usually works for me!

Don't forget to enter my June $25 Giveaway. Simply click here to read the details and enter.