Citibank - Earn back up to 20% of Finance Charges

I got an offer in the mail today from Citibank that says I can earn back some of my finance charges.  I called and signed up for the offer, which is called the Citi Payment Partner Program.  Now all I have to do is pay the minimum payment on time for 8 consecutive months and they will give me a statement credit equal to 10% of the purchase finance charges I will pay during that time.  If I pay double the minimum at least once, they will double the credit to 20%- up to a maximum of $550.

This is the card with the biggest balance and a high interest rate, so the finance charges for this month alone are $260!  I could get $52 of that back.

This is a card I intend to pay off with the refinance loan.  The bank that is doing the loan is sending a check to pay off my mortgage directly to my old mortgage company.  They are sending me checks made out to the various credit card companies so I can send them in myself.  The checks are made out for the amount I owed at the time I applied for the loan and there were a couple charges made after that day, so I’ll still have a small balance remaining.  I wonder if they’ll still honor the deal if I pay off the account in less than 8 months and have NO payment due.  Maybe I should make sure to keep it active for 8 months.  Once it’s paid off I could make a small purchase every month (like gasoline) and pay it off as soon as the bill comes, just to make a payment for 8 months.  I’ll evaluate this further later, but it’s be nice to get a little bit back after they raised my rates so high!