Citi cards - major changes

albyd

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Apr 7, 2011
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I called up this afternoon. Haven't used my Prestige since early June.

I've been a Citi Credit card customer for about 15 years and Select/Prestige for about 7 years. Last few years been putting through consistently over $600K+pa.

Called today and asked what they could do to retain me. Best they could offer was 7.99% rate - not much use if you pay your balance every month. I sense I wasn't the first Prestige customer the CSR I spoke with had had this conversation with.

I was a little disappointed but not surprised. I imagine it's a tough business. Whilst I've spent alot, not sure they made much money out of me - offered 50% discount some years and $50 discount last year which they never followed through on (nor were chased up by me). I've done well out of the points earn and used my entitlements. I don't travel enough to use the Stay 5, pay 4 nights offer. I can see that will be worthwhile for some. I don't have any other products with Citi. Mortgage and Wealth Management are elsewhere. Overall, I don't blame them for cutting the earn rate - still disappointed at devaluation of existing points but that's life. There really isn't any other avenue for them to make a dollar out of me.

I've made a final BPay for the small balance I owe, then will convert my card to Simplicity (hate closing high limit cards) in case Citi has a competitive product in the future. Been fun while it lasted. Will ride the Amex bandwagon until the music stops.
 

legroom

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Nov 2, 2012
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2,920
I'd do the same exc. going back to my fee-free signature when renewal time comes.

Can't justify the $700 annual fee after the latest enhancements

I called up this afternoon. Haven't used my Prestige since early June.

I've been a Citi Credit card customer for about 15 years and Select/Prestige for about 7 years. Last few years been putting through consistently over $600K+pa.

Called today and asked what they could do to retain me. Best they could offer was 7.99% rate - not much use if you pay your balance every month. I sense I wasn't the first Prestige customer the CSR I spoke with had had this conversation with.

I was a little disappointed but not surprised. I imagine it's a tough business. Whilst I've spent alot, not sure they made much money out of me - offered 50% discount some years and $50 discount last year which they never followed through on (nor were chased up by me). I've done well out of the points earn and used my entitlements. I don't travel enough to use the Stay 5, pay 4 nights offer. I can see that will be worthwhile for some. I don't have any other products with Citi. Mortgage and Wealth Management are elsewhere. Overall, I don't blame them for cutting the earn rate - still disappointed at devaluation of existing points but that's life. There really isn't any other avenue for them to make a dollar out of me.

I've made a final BPay for the small balance I owe, then will convert my card to Simplicity (hate closing high limit cards) in case Citi has a competitive product in the future. Been fun while it lasted. Will ride the Amex bandwagon until the music stops.
 

albyd

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Apr 7, 2011
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2,220
I called up to cancel today and was offered either 3 months at one extra point per dollar (excluded categories like government spend still at zero points) or 15k Citi points (6000 FF points). I took the second offer. Will call up and cancel shortly before account anniversary.
 

cove

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Feb 15, 2008
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14,622
My doubler points runs until the end of October. All the Government bills have been switched to two CCs that still pay points.
 

theblank

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Aug 3, 2014
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By now you would think Citibank executives would have taken notice that a lot of their customers are not using their credit cards. I am one of them.
There has been a massive churn of credit cards in the last few months, nothing special that would make Citibank stand out. You can be assured that all credit card providers are taking into account a % of customers they will lose in their strategies.

It takes years to build something up. Citibank has such a large number of premium customers. All its needs to do is to reverse the horrible point earn decision they made. Or maybe just start a double points offer to stop the bleeding. Otherwise this is corporate suicide and not fair for everyone working at Citibank.

its a numbers game. You didnt get any special treatment from Citibank because there was no need for them to do so.
 

cji003

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Nov 21, 2014
Posts
25
I called up today, was hoping to receive 15,000 pts or next 3 months at one extra point per dollar spending. Couldn't convince the lady to give me either offer. So went ahead and closed the account and canceled the card.
 
Last edited:

Jacques Vert

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I called up today, was hoping to receive 15,000 pts or next w3 months at one extra point per dollar spending. Couldn't convince the lady to give me either offer. So went ahead and closed the account and canceled the card.

Where the hell do I find that "dislike" icon; I feel for you:(
 

theblank

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Aug 3, 2014
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1,495
I called up today, was hoping to receive 15,000 pts or next 3 months at one extra point per dollar spending. Couldn't convince the lady to give me either offer. So went ahead and closed the account and canceled the card.
You would have had a better chance of getting something if you didnt ask. That you were trying to convince the lady, is enough to spell out your true intentions, especially if you did the same last year as likely they would make a note of it.
 

oz_mark

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You would have had a better chance of getting something if you didnt ask. That you were trying to convince the lady, is enough to spell out your true intentions, especially if you did the same last year as likely they would make a note of it.

That's how I play it. Just say I want to close - let them offer whatever they want.
 

cji003

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Joined
Nov 21, 2014
Posts
25
Yes, I didn't ask for any offer until I realized that she was actually going to close my account. I then suggested if there was any offer available, sadly no. I put through some real decent amount via the Prestige, anyway I have moved all my spending to Amex now.
 

spongey

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Joined
Mar 4, 2013
Posts
7
Finally made the call today to cancel, the service agent knew exactly why I was cancelling. Was offered 15,000 points and reduced annual fee but I do not need a card I will never use again with such a high credit limit.

Will use my St George Amplify along with AMEX from now on. I might grab the Hilton Honors card, with $40k spend getting Diamond Status seems like a good option as well.

No ill feelings towards Citibank, I just wish they did not go so hard on cutting earning rates and transfer rates on top of that.
 

turnip666

Member
Joined
Nov 26, 2007
Posts
221
Sanity check please?

It has been a while since I've used the Citibusiness Gold card so just checked the T&C's as I put through some large transactions every January/ Feb.

Was aware of the reduced earn and transfer rate but am I reading this right????....Points earn is capped at $10,000 per month (and then paid at .75 pts)?

My $150,000 over two months will only earn me 15,000 points. How can anyone earn their 250,000 annual points cap?
 

DerekG

Intern
Joined
Sep 10, 2013
Posts
86
Sanity check please?

It has been a while since I've used the Citibusiness Gold card

I closed my CitiBusiness card earlier in the year after being advised of the points halving etc.

It is no longer a competitive offering, so look around in the other threads for some better alternatives.
 

turnip666

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Nov 26, 2007
Posts
221
I closed my CitiBusiness card earlier in the year after being advised of the points halving etc.

It is no longer a competitive offering, so look around in the other threads for some better alternatives.

Agree it is uncompetitive but it is what I have for now and financially would not be able to qualify for anything much better (until next financial year).

I am ok with the reduced conversion rate, but is earning capped to the first $10,000 per month?
 

Legoman

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Nov 5, 2015
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Wouldn't surprise me in the least. All Citibank cards' points schemes have been so butchered now that they're virtually worthless. My own Signature card now with its 0.5pt/$ earn rate coupled with the increase to an absolutely ridiculous 20,000pt minimum to convert to Velocity means it gets very limited use now where is used to be my main default card. It would be lucky to see $200 of expenditure/month now. Just enough to keep the statements coming in. 90% of expenditure has been redirected elsewhere now - usually decided upon by when the billing period ends so I get most benefit out of the interest free period.

I write the nominal statement issue day of the month on the signature strip on the back of all my cards, so I can quickly work out which one to use with the most recently past statement date at the PoS, so I get the most use of the 55 or 44 interest free days. You know the points schemes are virtually worthless when the decision about which card to use has come down to that!
 

Jacques Vert

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Sanity check please?

It has been a while since I've used the Citibusiness Gold card so just checked the T&C's as I put through some large transactions every January/ Feb.

Was aware of the reduced earn and transfer rate but am I reading this right????....Points earn is capped at $10,000 per month (and then paid at .75 pts)?

My $150,000 over two months will only earn me 15,000 points. How can anyone earn their 250,000 annual points cap?

Worse still, you now need 2 Citi reward points for 1 QF or VA point; and transfers are in blocks of 20,000. So 15,000 will be of absolutely no use to you unless you have 5k already.

I had this card too and it was obvious Citi have been trying to kill it off for some time. In my case I applied for the QF Premier card and Citi offered to transfer my existing credit limit to it without doing a credit check.

Why not ring Citi and ask if you can swap the CitiBusiness and your existing limit to a QF Premier?

And you get 75,000 bonus points for signing on! And the fee in the first year is not too different to your Citibusiness Gold.
 

albyd

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Joined
Apr 7, 2011
Posts
2,220
That’s interesting about the transfer of a Citi card to the QF Premier although it makes sense given Citi is the issuer. I recall calling about the Virgin Money ones and they said couldn’t be done.
 

DerekG

Intern
Joined
Sep 10, 2013
Posts
86
I recall calling about the Virgin Money ones and they said couldn’t be done.

Different customer reps with different advice.

My wife applied for the Virgin Money High Flyer Visa Card. Citibank called her & offered her a small credit limit, however they were quite happy to combine this credit limit with her existing CitiBusiness Credit Card limit (which was also a Visa Card) provided she closed her CitiBusiness card. She took up this offer.
 

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