Citibank offers an opportunity for credit card customers to transfer balances from competitive cards,and pay low financing for a six-month period.After the introductory period is over,the rate will increase to the normal percentage.Citibank's strategy is to penetrate the market and obtain increased market share.

Question

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Citibank's strategy to offer low financing for balance transfers from competitive cards is a common tactic used to attract new customers and increase market share. After the promotional period ends, the hope is that the customers will continue to use the card for future purchases, resulting in long-term profitability for the bank.

Citibank Offers an Opportunity for Credit Card Customers to Transfer