Citi and Citgo renew credit card agreement

In a recent press release, Citi Retail Services announced its renewal of its private label credit card with Citgo. The two companies have had a relationship since 1995. The new agreement is a multi-year deal to continue that relationship.

The Citgo Plus Card is good at any of the petroleum company's more than 6,000 locations in 27 states and the District of Columbia. The card allows consumers the option of making monthly payments on fuel and convenience store purchases. At the time of the announcement, the Citgo Plus Card carries an APR of 24.99 percent, with cash advances at 29.95 percent. There is no annual fee, and the cash advance fee is $10 or 5 percent whichever is greater. Citi Retail Services also provides the company's prepaid gift cards.

Along with its prepaid gift cards and private branded Citgo Plus gas credit cards, which can only be used at Citgo locations, Citi also provides co-branded Visa and MasterCard credit cards for Citgo's fleet program and businesses. Those cards are good anywhere Visa or MasterCard are accepted and come with a range of rebates at the date of the announcement, such as up to 5 cents back per dollar on gas purchases for the first 90 days of the account.

Citi Retail Services also provides credit cards for gas retailers Sunoco and Shell, and merchandise retailers like Bloomingdales, Macy's, Sears, Zales and The Home Depot. In the press release, the company noted the new deal was "… the latest in a series of new and renewed partnerships between the recently rebranded Citi Retail Services and leading retailers, such as Citgo, across the country."