Adjust Text Size

Driver’s Edge: Driving for Dollars

Written by Nickel - 4 Comments

I reported previously about improvements to the Citi Driver’s Edge credit card rewards program but, at the time, I was unsure as to what they meant by being able to earn money for the miles that I drive… Well, I just received another mailing from them, and this time they provided details.

First off, you have to enroll in the program. According to the mailing, you can initiate this process either by going to the Citi Cards web site (select “Manage my Account” and then “Special Offers”) or by calling 1-800-967-8500. However, when I went to the web site I couldn’t find any information about enrolling — guess I’ll have to call. Anyway, once you’ve made contact, they’ll send you a ‘Drive Rebates’ enrollment form.

You can register one vehicle, and you’ll receive $1 in ‘Drive Rebates’ for every 100 miles that you drive. They keep track by asking you to send in a copies of invoice for services such as oil changes, repairs, etc. As long as the mileage is clearly indicated on the invoice, they can figure out how far you’ve driven and credit you accordingly. It remains unclear as to how they establish a baseline — presumably you have to submit a recent service invoice such that they can establish your starting mileage before they’ll start handing out the rebates.

Drive Rebates are limited to $500/year, and this amount counts toward your $1,000 annual Driver’s Edge reward limit. Also, you can redeem the Drive Rebates only when you redeem an equal or greater number of reward dollars that were earned via card purchases (i.e., no more than half the the reward dollars that you claim at any point in time can come from earning for miles driven). While this may sound a bit convoluted, it’s important to keep in mind that you’ll be sending in service invoices to claim your reward dollars anyway, so it’s not really any extra work, and it could easily net you an additional $100-$200 in reward dollars (or more) per year.

Another thing to keep in mind with the Driver’s Edge card is that the rewards can be redeemed through the ThankYou Redemptions Network (1-877-7REDEEM), so automotive services and car purchases aren’t the only way to cash out.

Published on June 20th, 2005 - 4 Comments
Filed under: Credit Cards

About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

4 Responses to “Driver’s Edge: Driving for Dollars”

1
FMF Says:
June 21st, 2005 at 7:48 am
Seems like a lot of work to me. Factor in the cost of your time and effort and it may not be worth it.
2
nickel Says:
June 21st, 2005 at 8:50 am
There’s really no additional effort aside from filling out and sending the enrollment form. I turn in service receipts to cash in my rewards anyway, and they take the mileage info from those. Might as well earn an extra one or two hundred bucks per year for virtually no extra effort. Since I can fax the receipts, I can do this without even getting up from my desk.
3
Marie O. Says:
July 7th, 2005 at 12:01 pm
I had a Citibank Drivers Edge card but I did not have the ‘Options’ card to qualify for service & mileage. Citibank CS told me my rebates would transfer over to the new card, which had the same credit card number, however the rebates did not transfer over. When I called them, the women said I was given mis-information. I lost approx 500+ rebates. She said I could transfer back but it would not be worth it. Without the ‘Options’ benefit, I could only redeem the points on the purchase of a car which I am not planning to do within the next 5 yrs. I pay the card off every month, so I will use whatever rebates I aquire, however I have a hard time trusting Citibank. When I orginally opened the account prior to 2001, I could cash out my rebates after 5 years, regardless of a car purchase, a policy which they have since amended.
4
julie yabo Says:
September 23rd, 2010 at 4:06 pm
i’m with the drivers edge card going on 12 years.
thats 4 four redemtions later.four lease later.
they would send me my full amount of cash back dollars for the past 4 leases.
i would send in an application and copy of my new lease.
they would send me a full check cash back.-
——————————————-
this is the end of my 3 three years made out application sent in copy of new lease 2010.
they only sent me back half my money.
in order to get balance must make out new application
and send in each month copy of lease payments and hope to get balance .
they are holding hostage $602.14 of my cash back dollars.
they also took away my 3% give back and made it 2%.
i think you all should look into chase,freedom card
it has a basic 1% but you can get up to 5% on item each quater.
and they will give you $100 after three months and you spend $899.00. and you can cash out every $20.00 after the first two months.
why wait 3 or more years for (your cash back dollars).

Top Cards by Category

CASH BACK CREDIT CARD (see all)

Chase Freedom^® Visa - $200 Bonus Cash Back

Earn $200 Bonus Cash Back after you make $500 in purchases in your first 3 months. 5% Cash Back on up to $1,500 spent in bonus categories each quarter.

AIRLINE MILES / REWARDS POINTS CREDIT CARD (see all)

Gold Delta SkyMiles^® Credit Card from American Express

Earn 30,000 bonus miles toward Award Travel when you spend $500 on the Card in the first three months from account opening. Receive double miles on Delta purchases.

CREDIT CARD DEALS (see all)

Delta Reserve Credit Card - Enjoy Delta Sky Club^® Access

Earn up to 20,000 bonus miles with your first purchase 10,000 of which count as Medallion(R) Qualification Miles. Earn up to 5,000 bonus miles when you add two additional cards to your account with initial application.

BALANCE TRANSFER CREDIT CARD (see all)

Discover^® More Card - $0 Balance Transfer Fee!

Enjoy no balance transfer fee for a limited time. 0% introductory rate on Balance Transfers and Purchases. Earn up to 5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*

LOW INTRODUCTORY RATE CREDIT CARD (see all)

Discover^® More Card - $0 Balance Transfer Fee!

LOW INTEREST RATE CREDIT CARD (see all)

Slate^® from Chase - $75 Bonus and Up to 15 Month Intro Duration

Earn $75 Statement Credit after you make $300 in purchases in your first 3 months. There is a 0% Intro APR for up to 15 months for purchases and balance transfers. This card has Blueprint free and customizable account features that help you avoid unnecessary interest and pay your balances down faster.

BUSINESS CREDIT CARD (see all)

The Business Platinum Card^® from American Express OPEN

Enjoy amenities for you and your business, like: complimentary airport club access, including American Airlines Admirals Club(R) lounges.

STUDENT CREDIT CARD (see all)

Discover^® Student Clear Card

5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*. Up to 1% unlimited Cashback Bonus on everything else. No annual fee

GAS REBATE CREDIT CARD (see all)