Citi and AT&T have renewed their consumer co-branded credit card portfolio in the U.S. in a multiyear extension to boost customer engagement and continue providing innovative products and offerings, according to a press release emailed to PYMNTS.
Card holders are able to earn rewards with their AT&T Access Card on both AT&T-related purchases and on other purchases, the release stated. Users can earn 2X ThankYou points from products and services bought at AT&T, as well as on every dollar spent on eligible retail and travel purchases. Card members will also be able to access ThankYou point rewards for gift cards, travel rewards, electronics and more.
“We have a long history of working closely with Citi to provide innovative credit programs,” said AT&T Vice President of Intellectual Property Scott Frank in the release. “We look forward to the value this renewal will bring for our customers across the U.S. in rewarding them for their everyday purchases and further fostering long-term loyalty.”
Rewards and loyalty are a crucial way to maintain and attract customers, PYMNTS found in its November Cardholder Loyalty Engagement Report. That’s true especially among specific demographics as the report found that 32.7 percent of bridge millennials and 32 percent of individuals earning over $100,000 are likely to switch financial institutions (FIs) for more attractive loyalty and rewards programs.
Citi Head of U.S. Branded Cards and Lending Pam Habner said in the release that the company looks forward “to continuing to work together to deepen and expand the partnership to deliver meaningful benefits and value to a digitally engaged consumer base.”
Citi has been renewing other partnerships, including one it has with Tractor Supply Company (TSC) for a credit card relationship going back decades, which offers both a personal and a business credit card. The deal marked a continued commitment for the TSC credit card portfolio.
AT&T, meanwhile, has been working on introducing new capabilities like 5G — and what to do with it, PYMNTS reported. AT&T Director of 5G Center of Excellence Jason Inskeep said the dealmaker comes in terms of how the infrastructure creates experiences.
“It may not be flashy, may not be super shiny, but the customer experience gets better,” Inskeep told PYMNTS.