Who else still holds the Citibank Free For Life Premier Card?

[JohnGlav]

Welcome to AFF! Legal policy peep in the consumer space here, so was pleased to get your take as it aligned with my view on the question of NAB handling FFFL cards.

(And the poster you’re responding to accused me of peddling conspiracy theories when I suggested that a previous expiry date for Citi offers was possibly going to mean the end of Citi cards and that it would be prudent to apply if interested. It didn’t come to pass but the point still stands. That sort of tone is unnecessary)

Thank you for the kind and warm welcome. I must be very careful what I write here. There are buzzing hornets and wasps.
At the end of the day my big corporate experience tells me that NAB can bulldoze its way through if it chooses. Or it can do so more subtly and incrementally if it pleases.
I know what my advice would be if I was still a Corporate Counsel.

 

[kamchatsky]

All NAB has to do is to move all the Citi Free For Life card members to a no-frills no annual fee card (ie no point earn, no insurance, etc). All the ones who pay annual fee can keep their card with current benefits.

 

[FrequentFlyer85]

It might be more productive to look at the MyCard terms for the replacement products, rather than speculating

Useful Forms and Links - Citi Australia

Find a form or document for your Citi product.

www1.citibank.com.au

 

[JohnGlav]

It might be more productive to look at the MyCard terms for the replacement products, rather than speculating

Useful Forms and Links - Citi Australia

Find a form or document for your Citi product.

www1.citibank.com.au

NAB has a track record.
They took over the Citibank Plus product.
They then took a certain approach with it.
Is there a zero percent chance that NAB will take that same certain approach with the Citibank “fee free for life” credit card?

NAB’s initial moves with MyCard already bear a striking resemblance to their approach with Citibank Plus.

If I’m wrong, I’m just the boy who cried wolf and no card holder is any worse off.
But if I’m correct then a pre-emptive warning shot has been fired across NAB’s bows and the hornets and the wasps can now report to their bee keeper masters that the planned path ahead could be a little rocky.

 

[JohnGlav]

NAB has a track record.
They took over the Citibank Plus product.
They then took a certain approach with it.
Is there a zero percent chance that NAB will take that same certain approach with the Citibank “fee free for life” credit card?

NAB’s initial moves with MyCard already bear a striking resemblance to their approach with Citibank Plus.

If I’m wrong, I’m just the boy who cried wolf and no card holder is any worse off.
But I’m correct then a pre-emptive warning shot has been fired across NAB’s bows and the hornets and the wasps can now report to their bee keeper masters that the planned path ahead could be a little rocky.

Make no mistake.
I’m well familiar with the approach taken in SOME of the bee keeper halls of power.

For example:

“General Manger/Financial Controller/CFO, reasons A, B, C and D make it difficult for us to get to objective Q. In doing so, we could expose the business to legal risk and reputational harm”.

“You’re not listening to me. I want objective Q implemented NOW!’.

 

[Wyler]

NAB’s initial moves with MyCard already bear a striking resemblance to their approach with Citibank Plus.

Yes. My guess is they will give us the equivalent MyCard but with no annual fee. Then wait until we use it, get used it, add direct debits etc... and then remove all the benefits and/or add an annual fee.

Basically what they did with Citi Plus. Thats what I would do if I was a scrupulous banker anyway.

 

[JohnGlav]

Make no mistake.
I’m well familiar with the approach taken in SOME of the bee keeper halls of power.

For example:

“General Manger/Financial Controller/CFO, reasons A, B, C and D make it difficult for us to get to objective Q. In doing so, we could expose the business to legal risk and reputational harm”.

“You’re not listening to me. I want objective Q implemented NOW!’.

Here we go!

https://www.cdn.citibank.com/v1/augcb/cbol/files/documents/2025/MYC18014_0925-MyCard-Credit-Card-TCs-Other-Important-Information.pdf

Was I cynical or correct with my speculation?

Paragraph 11 to the proposed Credit Card Terms and Conditions reads:
'We may change the terms and conditions applicable to your Account, including changing any condition, APR and fees and charges.'

On Page 4:
"We may change any of the terms and conditions that apply to your Account, including your Credit Limit, by reducing it, Annual Percentage Rates, fees and charges, the calculation of repayments and other Account features."

A unilateral and absolute discretion to the Bank to charge fees.
This looks a lot like their Citibank Plus playbook.
If there is significant cardholder outcry, expect them to try dividing and conquering cardholders by offering a fee waiver.
Which wavier of course is only going to be for a season.

 

[JohnGlav]

Yes. My guess is they will give us the equivalent MyCard but with no annual fee. Then wait until we use it, get used it, add direct debits etc... and then remove all the benefits and/or add an annual fee.

Basically what they did with Citi Plus. Thats what I would do if I was a scrupulous banker anyway.

"Then wait until we use it".

Exactly right.

The moment we use it, they have a legal argument that we have accepted the new MyCard terms and conditions.

I'm guessing they may even have slipped a 'deemed acceptance' of the terms and conditions sentence or paragraph somewhere in the document.

That's what I would do.

Make no mistake, this is the tail end of a carefully orchestrated campaign by NAB's bee keepers undertaken with the support of their corporate counsel and external lawyers of the highest calibre.

The pushback needs to begin now. Before the new MyCard is used.

 

[Brissy1]

Perhaps in time when NAB release more detail, a suitably qualified person here could draft a letter whereby one rejects NAB's new t&c and insist on maintaining previously promoted and stated conditions.