Citibank Qantas Rewards Program going to $2 = 1 point

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blue_bug

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Just got a letter today from Citibank telling me that from the 1st of April next year, the Citibank Qantas Rewards program will change to 1 point per $2 spent. This is applied to my Platinum card, and going from the website, it seems to dump down the platinum and push others to the new signature card.

http://www.citibank.com.au/qantaschanges/

This change will bring it back to what other VISA cards offers, so what else out there can get close to a 1 to 1 conversion rate?
 
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so what else out there can get close to a 1 to 1 conversion rate?

Woolworths EDRC. (Hoping that this does not alter.)

I was considering apply for the Signature or Select card, Not sure if the cost of these over and above the Woolworths card is worth it. For me the Woolies card works easily as my business is right next door to a Woolies store and can add cash payments to the card every day.
 
Just got a letter today from Citibank telling me that from the 1st of April next year, the Citibank Qantas Rewards program will change to 1 point per $2 spent. This is applied to my Platinum card, and going from the website, it seems to dump down the platinum and push others to the new signature card.

Citibank Australia

This change will bring it back to what other VISA cards offers, so what else out there can get close to a 1 to 1 conversion rate?
This is VERY annoying:evil::evil:

Woolworths EDRC. (Hoping that this does not alter.)

I was considering apply for the Signature or Select card, Not sure if the cost of these over and above the Woolworths card is worth it. For me the Woolies card works easily as my business is right next door to a Woolies store and can add cash payments to the card every day.

Try citibusiness gold at 1.25 points per dollar.
I had a look at these 3 (Woolworths, Citibank Signature & Citibusiness gold). The Woolworths annual fee (see below) is lower although the Citibank Signature ($395 + $49 / year) currently has a higher sign up bonus (80 K) than Woolworths! The Citibusiness has an annual fee of $149, earns 1.25 QF pts per dollar spent, and currently has a sign up bonus of 40K points, which is very attractive!

From the Best Credit Card for Frequent Flyers thread:
Today you could go www.everydayrewards.com.au and pick up the Woolworths credit card for $0.00 and 5,000 Qantas reward points. You get a point a dollar to your Qantas account and you can look up the bonus card partners.
I haven't heard of anything cheaper in the first year and it will probably be $89 in the second year.

The best card can depend on your spending levels - Citibank offer a CitiBusiness Gold

CitiBusiness Gold - Credit Cards - Citibank Australia - Citibank Australia

$149 annual fee
40,000 bonus points
1.25 points per dollar
Points are capped, and can only be transferred in 10,000 increments

Yes, this is a good card - better now as points were capped at 80,000 when I got my card last year.

As of 1 September the new cap is 250,000 points per year - much more reasonable as it includes the 40,000 points you get on joining, ie you effectively only had a 40,000 points / $32,000 spending cap left for the whole first year when I joined which was a joke - tricky or stupid of Citibank.

For personal use the Citibank CitiSelect card is said to be good for someone who spends a lot, whilst the Woolies / HSBC Visa card is good if your spending patterns are more moderate.

This all assumes you want to accumulate Qantas points...

Hope this helps someone.

Now that the Citibusiness card is capped at 250K points n a year it's probably the best Visa card for earnign QF points - not so hot for SQ or Velocity.

You can have up to 4 cards on the account for no extra fee - used to be $30 a card.

Add the 40K points for signup at the present and it might be worth signing yaself and SWMBO as 80K points for $300 is something I'd happily pay.

While the CB call centre is not great, I've not had any major problems, and in general things have been fixed on the first call. The Business card does give you the platinum call number, which means I've never had to wait to speak to someone.
On balance, atm to replace my Citibank Plat Visa card, I'm leaning towards the Citibusiness Gold Visa, then the Woolworths Credit card....:confused:. BUT, will they too change their conversion ratios to QF in the near future???
 
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I would think if any would maintain 1-1 would be the WOW card given their close public advertised relationship....

Pretty annoying. I'm holding out hope that I'll get a free upgrade to Signature like some others here have reported.

If not - bye bye citibank credit cards.
 
Vindicates my decision last week to get rid of my Citibank Platinum card. They really didn't want me to go either, took ages to actually get them to cancel it.
 
I got an email re my Jetstar MasterCard the other day, there is now an option to get 1 QF point per $ instead of Jetstar cash, only applies to the Plat version of the card, but they upgraded me for free and waived the annual fee, I'm happy I finally have a 1 point per $ QF earning MasterCard again to complement 1.5 earning Amex's etc ( after I had cancelled my citibank Plat visa and had kept getting knocked back on the woolies EDR)
 
Two weeks ago, when I thought WW EDR weren't going to waive my annual fee, I took Citibank's offer to upgrade from Gold Platinum on the legacy $0 annual fee and add the $49 Qantas Rewards program. I'm pretty disappointed now, as surely they would have known that this change was coming through. I haven't received the letter yet. When I do, I will complain and see if I can get them to refund the $49 Qantas Rewards fee, and change me back to the Citirewards program. To top it off, WW EDR waived the annual fee!
 
Two weeks ago, when I thought WW EDR weren't going to waive my annual fee, I took Citibank's offer to upgrade from Gold Platinum on the legacy $0 annual fee and add the $49 Qantas Rewards program. I'm pretty disappointed now, as surely they would have known that this change was coming through. I haven't received the letter yet. When I do, I will complain and see if I can get them to refund the $49 Qantas Rewards fee, and change me back to the Citirewards program. To top it off, WW EDR waived the annual fee!

I'd be sending the letter back unopened and demanding a refund. They have made a material change to the program before you've even had a chance to use it. I wouldn't mention the EDR card ;)
 
Have a look at the terms that came with the new signature card that lots of people seem to have received for free. It quite clearly states that the earn is one point per dollar spend and the conversion is two reward points per QF point. So Citi signature is now a half point card!
 
Have a look at the terms that came with the new signature card that lots of people seem to have received for free. It quite clearly states that the earn is one point per dollar spend and the conversion is two reward points per QF point. So Citi signature is now a half point card!

That's how i read it Duffa, to get 1 point you have to use/get the Citibank Select card I think?
 
Have a look at the terms that came with the new signature card that lots of people seem to have received for free. It quite clearly states that the earn is one point per dollar spend and the conversion is two reward points per QF point. So Citi signature is now a half point card!

That's how i read it Duffa, to get 1 point you have to use/get the Citibank Select card I think?
This is not consistent with:
From the FAQ in the link above:"The earn rate on Citibank's Signature and Select Credit Cards will continue to be 1 Qantas Frequent Flyer point for every $1 spent."
 
That's how i read it Duffa, to get 1 point you have to use/get the Citibank Select card I think?

Actually it looks like the Citi Signature and the Citi Select are in the same boat... from the T&C's dated 9/11..

13.1 Citibank Qantas Rewards - allocated points are 1 per $1 for both cards (either Domestic or International)
13.5 When Points are redeemed for Qantas FF Points they will be redeemed at a rate of 2 Points for 1 Qantas FF Point.

So the way I read it BOTH the Citi Signature and the Citi Select convert to QFF at a rate of $1 = 0.5 QFF points...

From where I sit I believe it's better value to accrue in the Citi Rewards scheme, where accruals are as follows...
Signature 1.5 points Domestic, 4 International
Select - 2 points Domestic, 5 International
... then using them for City Take Flight

PS I was under the impression you could also transfer Points to Singapore Airlines KrisFlyer but I don't think that's the case?!
 
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Mmmm confusing... When I get my offer letter I'll read... But seems weird that the Signature card would be less than 1:1....
 
I have recently acquired both signature and select. The terms in both booklets clearly state 1QF point for every 2 dollars spend. I do agree that this contradicts the T&C on the website. I hope Citibank get their act together and sort this out, to OUR benefit!!
 
Citi select converts to kris flyer at 1.33 points per dollar spend domestically and 3.33 per dollar internationally. Just ask the Guru, Cove!
 
Careful there Duffa I am no guru. I had a career as a tax accountant and then as a wholesaler so when you are at your desk just work your spare time into a game.
The" Frequent Flyer Fiend and the Game" blog grew a bit more than I would have ever expected and I do hope you treat it as the game it is meant to be.
 
The big loser here is Qantas Frequent Flyer.

Dropping the conversion means I'll have a real reason to start putting CC points to Velocity, which in turn means I'll be bothered to try and keep Velocity Platinum, which means less flight$revenue for Qantas.... I believe the events/changes over the last few months to both programs have meant the tipping point for many cardholders and high revenue frequent flyers.
 
I called Citibank today and said I wasn't happy with the change to $2 to 1 point on Citi Qantas rewards and asked why I wasn't told 2 weeks ago when I paid the $49. They couldn't tell me and apologised. I asked to be moved back to Citi Rewards and have the $49 refunded. Apparently they need to get supervisor approval to do so, but it is possible.
Let's wait and see.

For now, I've moved back to WW EDR given they waived my annual fee.
 
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