Citi Launches Home Rebate Card

Citi has announced the introduction of the Citi Home Rebate Platinum Select MasterCard, featuring a program that turns everyday purchases into rebates to pay down the principal on a mortgage.The company said the program is the first of its kind, and that applicable purchases include everything from gasoline and groceries to mortgage loan application fees and vacation expenses. Gina Doynow, a senior director at Citi, said the program rewards are significant because cardmembers can "build equity in their homes faster, while shortening the length of their mortgage." Citi, a part of Citigroup, can be found on the Web at http://www.citicards.com.