Citi cards with reducible interest rates?

While most financial institutions today are severely increasing their rates Citi is launching an initiative to enable consumers to get rewards and interest rates cuts when they use credit wisely. The new program titled Citi Forward helps consumers maintain healthy credit. Customers are credit ThankYou Points each billing period for paying on time and staying under the credit line. Citi Forward is a Visa-branded card.

Additionally, Citi is also partnering with MySpace for Citi Forward by MySpace, which is a card that rewards cardmembers for both financial and social responsibility. When customers use their credit wisely and besides participate in socially responsible acts, such as donating to a local food drive, going paperless, switching to energy efficient light bulbs, volunteering and more, they earn additional ThankYou Points.

Membership in Citi’s ThankYou Rewards Network is free while ThankYou Points can be redeemed for millions of items, including a wide array of merchandise and experiences, such as gift cards at leading retailers, travel, student loan rebates, charitable donations and much more.

Cardholders participating in Citi Forward by MySpace program can also redeem ThankYou Points for exclusive rewards and experiences from MySpace, such as music downloads, the Impact Maker Fundraising package, VIP concert experiences, private concerts for cardmember and friends in a small venue, trips to movie premiere screenings, trips to a charity gala and much more.