Credit card lenders are facing tougher regulations due to the Credit CARD Act 2009 and as a result they continue to seek out new avenues to generate lost income. These efforts are increasingly including co-branded credit card accounts which will mutually benefit both parties. The Citibank Hilton HHonors Visa Signature Card is a card designed to do exactly that.
Card holders will pay no annual fee on the Hilton HHonors credit card, but in order to qualify for the card, which has no preset spending limit, applicants must have an excellent credit rating and a minimum annual income of $35,000.
The credit card is best suited to consumers who travel a great deal for both business and pleasure and who stay at the Hilton hotel chain. It is not such a good card for balance transfers as it does have a fairly high interest rate on transfers.
There is also a very high penalty APR applied to the account in the event of making a late payment or if a payment is returned.
The Hilton HHonors Visa Signature card allows cardholders to earn reward points which can be redeemed against free overnights at Hilton hotels all around the world. As an additional bonus, new customers receive 30,000 bonus points on spending $600 within the first four months of opening the account.
That is sufficient to instantly earn one free night in a standard room with double occupancy at a participating Hilton hotel. Reward points can be earned on all purchases at various rates. For every dollar spent at one of the 3,600 participating Hilton hotels, including accommodation, facilities and refreshments, cardholders are awarded 6 points. Selected purchases such as gas, pharmacy purchases and groceries earn 3 points per dollar and all remaining purchases earn 2 points per dollar.
Points can be redeemed towards payment of hotel stays, with no blackout dates and also towards airline travel with one of 50 participating Hilton HHonors partners. The reward program also allows cardholders to purchase up to an additional 40,000 points in 1,000 increments if they are short of enough points for their planned holiday. Points can also be redeemed towards car rentals and experience days.
Cardholders are automatically granted HHonors Silver VIP status which entitles the cardholder to additional benefits including, early check in and late check out, complimentary bottled water, complimentary newspaper, expedited check in desks, and health club access where available.