Bye Bye Citibank Platinum !

[Rick93]

Well, after all the trouble I had getting a Citibank (CB) Platinum credit card in the first place (long story)... I've now decided to scrap it!

Basically, I've had their slack performance!

For eg., 1. It took nine (9) weeks to upload a batch of balance transfer points into my Rewards account. I made over a dozen phone calls, chasing it up, and always told "...just give it another week...".

2. Telephone balances: Takes days to have all expenditure loaded onto your account. I could never get an accurate balance of my account over the phone... even from an operator. On many occasions, the system told me... "There have been no debits against your account in the last six months".

3. 2.7% cash advance fee is a bit much... I think!

I've held a CBA Platinum Mastercard for six months now... and I'm quite happy with their service.

Balance transfer points are credited to your account exactly on time (once a month), no cash advance fees (from CBA ATM / Branches) and their webpages are far more functional than CB.

So... "bye bye Citibank".... I won't be paying another $250. card fee + $90. additional card holder fee ($15. for CBA Plat. additional card holder)

I'm always on the look out for new opportunities for 'balance transferring' though.... just waiting on a AMEX offer that was mailed out to me.... more points coming up there!!!

regards,

 

[jdt]

Citibank are useless...

I'm really disappointed with Citibank as well...

I applied for a card from them (Plat Visa) and was declined. I received a letter saying that it was as a result ("either wholly or partly") of my Credit Report from BayCorp Advantage. I got a copy immediately, wondering what was wrong, but as I suspected, my Credit Report was fine (no defaults or ANYTHING bad - just a few queries for credit card applications).

I rang them a number of times to get clarification, and all they could suggest was that my Credit Report was bad, and that if I wanted to furnish them with further information I could fax it - which I did. The only response I have got from them is some junk mail offering me a loan.

I already have a relationship with them, as I have a FF Diners Club - which is and has always been in good standing.

Coming to the conclusion that if their pre-sales service is this bad, then their normal service must be REALLY bad, I didn't pursue it further.

So I went elsewhere, where I was issued with a card without a problem, and out of spite I also got a Ant Card (arrived today) so that I can ditch the FF Diners (and Citibank) forever.

 

[NM]

One of the main things in a credit reference that affects a loan application (and remember that a credit card is basically a loan application) is how much you are already in debt, along with your ability to repay the debt/loan.

The assumption by most credit agencies is that every loan or credit card application you have made in the past is a current outstanding debt to the maximum value of the credit limit.

So if you keep swapping credit card suppliers, taking advantage of their offers for bonus points or balance transfers, you will eventually end up with a situation where your credit reference appears to reflect a very large outstanding debt. Even if you have cancelled the older credit cards, in most cases the "application" for that credit card remains in the reference and hence it is assumed to be an outrstanding debt.

Of course, the skeptics amongst us may also think a CC company may look at someone who has applied for many credit cards in the last few years as someone who is working the system to get the bonus/transfer points and holds no loyalty to the vendor.

There is a downside to changing credit card providers regularly, and it shows up on the credit reports.

 

[jdt]

One of the main things in a credit reference that affects a loan application (and remember that a credit card is basically a loan application) is how much you are already in debt, along with your ability to repay the debt/loan.

Agreed. I can't really comment on why they came to their conclusion, all I can say is that their customer service appears very poor - I find their lack of response, and rudeness in sending me a loan application form appalling.

[BTW... I only had 3 things mentioned on my Credit Report... my ANZ FF Gold Visa which I got in 2000, the Diners in 2003, and the Citibank query. No loans, mortgages, defaults. Now I have 2 more queries on there which the other two providers didn't fuss about.]

 

[Rick93]

Yes, I agree, that those basta*ds of the CRA can stuff up your life....
and yes, it maybe a risk in applying for too many credit cards...

I've had several cards in the last five years...

One example of how you just can't work them out.... I had my CB Plat Visa with a limit of $20,000. plus an ANZ Visa with a limit of $8,000. and then... I applied for a CBA Plat. Mastercard..... would you believe, they gave me a credit limit of $25,500.

I told them, I want the high limit on the CBA card to pay out and close the CB & ANZ cards. But I lied! I've still got them all open (as of today)

Which brings me to another point...

When you tell a card supplier, that you are balance transferring, to 'close' another card account... they have no way of enforcing you to do so. Neither can they tell if you have in fact closed the account you said you would. This is especially good for getting 'double points' on balance transfers!

I know... I'm NAUGHTY!!!

(chuckle, chuckle!!!)

 

[Guest]

Which brings me to another point...

When you tell a card supplier, that you are balance transferring, to 'close' another card account... they have no way of enforcing you to do so. Neither can they tell if you have in fact closed the account you said you would. This is especially good for getting 'double points' on balance transfers!

I know... I'm NAUGHTY!!!

(chuckle, chuckle!!!)

I'm not too impressed with citibank to be honest, they are slow at EVERYTHING, charge a premium price for what seems to be a basic card. Only real benefit is the points transfer, although I've only had the card a couple of months...

You are right about the banks not being able to enfoce closing other banks' accounts, although citibank will close it for you. I used this method to get a credit card with just about every bank I can.

There are MAJOR MAJOR MAJOR flaws in fraud&security when it comes to credit cards in Australia. I know this first hand. Take advantage of it while you can! (not sure how legal it is however...)

Will citibank refund the other 6 months of your yearly fee?

 

[Rick93]

I've timed it pretty well... annular fee due in November... so, I'll have all my points owed transferred over to QFF by then... close the account... that's it!!

Each time I do a balance transfer, I always transfer the points over to QFF ASAP... just in case CB or any other bank wants to 're-assess' my situation, and reverse the awarded points. (hasn't actually happened so far... but Qantas have taken points from my QFF account.... hotel points they later claimed I wasn't entitled to.... another story!)

regards,

 

[straitman]

Well, after all the trouble I had getting a Citibank (CB) Platinum credit card in the first place (long story)... I've now decided to scrap it!

Basically, I've had their slack performance!

For eg., 1. It took nine (9) weeks to upload a batch of balance transfer points into my Rewards account. I made over a dozen phone calls, chasing it up, and always told "...just give it another week...".

I must say I agree with you Gordon. Some time ago when Lindsay was offering to sponsor people to Citibank for 10,000 bonus points, I got an application form from him. After a combination of lack of time (initially) on my part and further research I decided to give it all a miss.

I found the web site contradictory, primitive and with way too many mixed messages from people both here and on flyertalk, I went ahead and got a CBA Plat M/C instead and have found them to be as good as it gets. (your imagination required here)

CBA have lived up to all they promised and not promised things they would/could not provide.

Thanks for your comments as what you are saying here serves to reconfirm my initial decision.

 

[NM]

I took out the Citibank Ready Credit account a while back, mainly to use as a free cheque account for the very rare occasions that I need to actually write a cheque. No annual fee, not account keeping fee, and a line of credit so I can write a cheque without having to worry if I have any money on the account. Then as soon as I have written a cheque, I BPay the account with the funds so I also avoid any interest.

Each month I get a call from an Indian fellow trying to sell me their Credit Shield insurance. Each time I tell him I am not interesting in their insurance policy for an account that remains at zero balance and to please stop calling me about it. And sure enough, the next month I get a call from CitiBank asking why I have not yet taken out the insurance policy!

 

[Rick93]

You guys have confirmed it for me as well!

I too am very happy with service / product from CBA.

Pitty CBA doesn't offer the '10,000 point referral' thing....

regards,

 

[jdt]

Even cancelling isn't straightforward with Citibank(Diners)

I tried to cancel my Diners Club card today, as I don't wish to deal with Citibank anymore...

I talked to a customer rep, who tried to put me through to another area to finalise the cancellation of the card. I was placed on hold for a while, then the original operator came back to me and said that the line was busy and that I would receive a call in the next few days to confirm that the card has been cancelled (yeah right).

Another example of Citibank's poor service, or maybe a few people are closing their FF Diners Club cards before the first annual fee is due which is keeping that area busy!

 

[Guest]

Re: Even cancelling isn't straightforward with Citibank(Dine

I tried to cancel my Diners Club card today, as I don't wish to deal with Citibank anymore...

I talked to a customer rep, who tried to put me through to another area to finalise the cancellation of the card. I was placed on hold for a while, then the original operator came back to me and said that the line was busy and that I would receive a call in the next few days to confirm that the card has been cancelled (yeah right).

Another example of Citibank's poor service, or maybe a few people are closing their FF Diners Club cards before the first annual fee is due which is keeping that area busy!

I am surprised citibank didnt say "ok, to confirm your cancellation you need to call our call center in czech on 1902......they are rather busy so stay on the phone for 30min, then mail in your drivers lisence to prove who you are, with a signed letter stating you wish to cancel and then we will process your request within 30 days.

Sir, we also charge a $750 cancellation fee if you don't hold your card longer than 13 months and cancelling this card will affect your internal credit with our bank.

Tank yew for oozing citibunk many good day to you ok bye bye"

 

[Rick93]

Over the past week, I've had the most appauling experience of CITIBANK'S customer 'service' !!!

I telephoned CB to cancel my Platinum Visa card. The annular fee is due in November, and CB inform me, that they "usually debit one month early". So, my 'mission' was to prevent another $250. fee, plus their $90. additional card holder fee.

You wouldn't believe how difficult it was to get to speak to one of CB's "relationship officers".

These people are the ones who supposedly are able to 'cut deals'. I would have entertained the idea of keeping my current credit limit, and dropping down to a plain and simple 'silver' card (for the minimal fee).

My conditions would be...

Current 6.9%pa interest for 9 months with availability of balance transferring - with REWARD POINTS at one point per $.... six per year.

So... you do you think I could get to speak to one of these guys?

I was told by FIVE (5) separate CSOs... that " a relationship officer will contact you in the next 24 hrs. "

That was five complete business days of waiting !!!

The last character I spoke to couldn't even connect me to a 'supervisor'. The reason why not....

Because CB CSOs do not have supervisors where they are located... I believe, that they actually operate from home... and only have contact with a supervisor via the telephone. (mind you, 'home' is certainly NOT in Australia !)

When I finally had enough, and said words to the effect " just close my account ! ".... I was finally offered what I'd asked for.... however.... I'll believe it when I actually get the card + the T&Cs in the mail !!!

So... there ya go....

regards,

 

[jdt]

Over the past week, I've had the most appauling experience of CITIBANK'S customer 'service' !!!

Yeah, I never got a call back from Citibank to confirm the cancellation of my Diners (they said they couldn't put me through to the relevant department to cancel my card while I was on the line, and that someone would call back).

I called again, and eventually got it cancelled, and they didn't offer me anything or even ask why. Mine you, my name is dirt with Citibank for some unknown reason, as they previously refused another card application (hence me cancelling my Diners out of spite).

As far as the location of CSOs... the first call went international (judging from the delay) and a bloke with an Indian accent dealt with me, the next call appeared to be local, and then he put me through to an international connection with a bloke with an American accent.

It's becoming harder to find large companies who haven't offshored their customer service.

 

[Rick93]

Oh yeah ! All my CSOs were most definately 'foreign sounding'....

I've never accessed an 'Australian' CSO on the 132484 number.

It must be the 'international flavour' of CB...

I'm going to use them for all I can get.... balance transfer points and promotional interest rates...

I've been getting far better service from CBA Platinum Mastercard.

regards,