Alarm for all/potential Platinum card holders & Signature & Select!!!!!

[wxxnxs]

Hi All

Long story short, I applied Signature card online and got declined and Citi downgraded me to Platinum, quite strange and disappointed. I won't active the card and cancel it after I receive it.

Below is the high light part from Citi regarding new feature for Platinum card:

Singapore Krisflyer will no longer be available for new Platinum card holders, that includes either new applicant or transfer from another card!!! So for those people who is holding Citi business gold card, you can start searching an alternative. Krisflyer will also soon be discontinued for existing platinum card holders.

Virgin velocity rewards will also soon be discontinued for all Platinum card holders.

Signature & Select cards redemption rate will soon also be changed from 1.5:1 to 2:1.

Enhancement from Citibank.:evil:

 

[spentan]

Hi All

Long story short, I applied Signature card online and got declined and Citi downgraded me to Platinum, quite strange and disappointed. I won't active the card and cancel it after I receive it.

Below is the high light part from Citi regarding new feature for Platinum card:

Singapore Krisflyer will no longer be available for new Platinum card holders, that includes either new applicant or transfer from another card!!! So for those people who is holding Citi business gold card, you can start searching an alternative. Krisflyer will also soon be discontinued for existing platinum card holders.

Virgin velocity rewards will also soon be discontinued for all Platinum card holders.

Signature & Select cards redemption rate will soon also be changed from 1.5:1 to 2:1.

Enhancement from Citibank.:evil:

Source????

 

[wxxnxs]

No source, just from Citi@atwork department, but I would suggest every one call up to clarify. Due to recently changing on Citi credit cards, I'm not surprised about that enhancement.

 

[ermen]

Hi All

Signature & Select cards redemption rate will soon also be changed from 1.5:1 to 2:1.

Enhancement from Citibank.:evil:

I thought that Signature cards were already 2:1?

 

[kamchatsky]

If this is the case then I made right decision to sign up Woolies QF CC 2 months ago after citibank changes the redemption rate.

 

[kamchatsky]

I thought that Signature cards were already 2:1?

Still 1.5:1 for now for Signature.

 

[hummel]

When does this come into affect?

I moved from plat to signature two weeks ago due to the change on plat cards. Will be mighty pissed if they do what is said!

And anyway... Who else are we going to transfer to with sq or va not available? Only QF left I think.

 

[albyd]

I'm a select card holder. I now do all my spending on the card & have 4 supplementary holders 'working' for me. I just got off the phone with citi rewards. The operator I got initially said 'yes' they have enhanced the KC conversion rate to 2:1 in April. When I got angry about it, she offered me 5000 points & I told her I wanted real compensation for not getting any notice & finding out through third party channels. While she was checking, I looked on the citi rewards site:
https://citibank.com.au/AUGCB/ICARD...ipper_content/travel_catalogue&layout=success

doesn't appear to have been changed apart from platinum cards at 2:1.kperator came back and said she'd been testing on the rewards redemption tool and it appeared to be 1.5:1 which marries up with the site.

long story short, I don't have alot of faith in what the call center staff say, although she reckoned there we're no plans to enhance signature & select points conversion. I'd be interested in the source of information about future downgrades. I'm getting a little nervous about citi changing things again.

albyd.

ps: operator still offered me 5000 points at the end of the call.

 

[gregff]

Singapore Airlines KrisFlyer program
Citibank Rewards cardholders can manually transfer their points to Singapore Airlines KrisFlyer program.

As of 1 September 2013, redemption of reward points on Velocity and KrisFlyer Frequent Flyer programs will only be available to cardholders who hold the following cards: Citibank Gold Credit Card (Visa), Citibank Rewards Credit Card - Platinum or Signature or the Citibank Select Credit Card and who are enrolled in the Citibank Rewards Program.

Citibank Rewards Credit Card - Select Signature and Citibusiness cardholders:
1.5 Citibank reward points = 1 KrisFlyer mile, redemptions must be in multiples of 15,000 Citibank reward points

Citibank Rewards Credit Card - Platinum, Classic, Citibank Gold (Visa) Credit cardholders:
2 Citibank reward points = 1 KrisFlyer mile, redemptions must be in multiples of 20,000 Citibank reward points

 

[joyceful]

i am thinking to upgrate to citibank signature, if this is the case, anyone have any idea that which other competitive visa or mastercard that can be consider? i mainly transfer points to kf or velocitytoo

 

[greenfrog86]

When does this come into affect?

I moved from plat to signature two weeks ago due to the change on plat cards. Will be mighty pissed if they do what is said!

And anyway... Who else are we going to transfer to with sq or va not available? Only QF left I think.

This would make the Platinum card even more useless as QF is not an option... So the card would have no FF programs to transfer to.

Has anyone else had the original poster's comments verified?

 

[wxxnxs]

This would make the Platinum card even more useless as QF is not an option... So the card would have no FF programs to transfer to.

Has anyone else had the original poster's comments verified?

I heard all of this information from their CC staff, as I stated my original application was for Signature but they downgraded me to Platinum. I questioned about the poor redemption rate on Krisflyer & velocity, and was told that rate will soon be affected on both Signature & Select, and Krisflyer will no longer be an option for Platinum. I think there is no harm to call them up and clarify, because every one of us knows that Citibank staffs like to bull**** on products that they even don't know about.

 

[Spizz]

i am thinking to upgrate to citibank signature, if this is the case, anyone have any idea that which other competitive visa or mastercard that can be consider? i mainly transfer points to kf or velocitytoo

The only decent card left for KF if you couldn't get the Signature Citibank card would be the Westpac Krisflyer Card Amex. Not the Mastercard that comes with it.

According to this post it looks like Signature would still be unaffected when the 1st September changes come in-

http://www.australianfrequentflyer....potential-platinum-card-51866.html#post854292

However it is Citibank and anything is possible. Just glad I managed to switch to the Signature card not that long ago. Well for now anyway.

 

[Jack_OC]

The only decent card left for KF if you couldn't get the Signature Citibank card would be the Westpac Krisflyer Card Amex.

And Altitude Black Amex from Westpac.

 

[Airbumps]

Is there any update or clarifcation on what VA will transfer to?

I'm looking at getting rid of the Virgin High Flyer and getting the Select card as I don't quite meet the min. gross for the Signature. The VA High Flyer gives 1.25:$1 - what will the Select give me after September?

Unfortunatly I don't think you can see the conversation rates on the Citi website...at least I couldn't find them...

 

[albyd]

Is there any update or clarifcation on what VA will transfer to?

Unfortunatly I don't think you can see the conversation rates on the Citi website...at least I couldn't find them...

The link below should help. I got to it by clicking on "credit cards" on the main Citi site then "search rewards". It outlines the differences. Select & Signature stay at 1.5:1 for KF & Velocity which implies and earn rate of 1.33/$A1 spent which is slightly better than High Flyer card's 1.25 - depending on your spend justifying the much higher annual fee but also getting the bigger choice of programs.

https://www.citibank.com.au/AUGCB/I...ipper_content/travel_catalogue&layout=success

 

[greenfrog86]

I'm looking at getting rid of the Virgin High Flyer and getting the Select card as I don't quite meet the min. gross for the Signature. The VA High Flyer gives 1.25:$1 - what will the Select give me after September?

Sounds like some confusion here...

The Select card is the most premium card that requires the $120k income and has an annual fee of $700. I'm assuming you mean that you are not eligible for this card yet

The Signature card is their 'mid range' card that requires somewhere around $70k income and has an annual fee of $395 (prior to any discounts)

The link below should help. I got to it by clicking on "credit cards" on the main Citi site then "search rewards". It outlines the differences. Select & Signature stay at 1.5:1 for KF & Velocity which implies and earn rate of 1.33/$A1 spent which is slightly better than High Flyer card's 1.25 - depending on your spend justifying the much higher annual fee but also getting the bigger choice of programs.

https://www.citibank.com.au/AUGCB/I...ipper_content/travel_catalogue&layout=success

We have known about the September changes for some time now, however the concern in this thread is with the OPs comments around further reductions in the redemption rate, or the removal of the ability to transfer to airline programs completely.

With respect to the September changes, albyd has quoted the transfer rate for the Select card, however for Signature this will be different.

Because you have to go through Citi points it is as follows

Select = 2 citi points per $1
Signature = 1.5 points per $1

So, when you transfer these to KF for example, Signature is 1:1 and Select is 1.33KF per $1

 

[albyd]

Right You are - was a little too focused on the select in my post.

 

[Flashback]

Changes to Rewards Program from 1 September 2013

Just received this notice at the top of my statement:

Changes to your Rewards Program
Effective 1 September 2013, Citibank Rewards Credit Card
- Classic and Citibank Gold Mastercard Cardholders
will no longer be able to redeem Reward Points for
hotels, flights and Airline Loyalty Points. They will
continue to have access to travel deals and travel extras.

 

[deluxeflyer]

Re: Changes to Rewards Program from 1 September 2013

Just received this notice at the top of my statement:

So Signature remains safe for now. Relieved!