Citi cards - major changes

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$350 for life a great result, well done!

I'm pretty intent on cancelling too (not just threat) - awaiting to see if AMEX can match credit limit for a replacement, but otherwise and coincidentally it's up for renewal in June...
At $350 I would probably re-consider. Definitely won't be putting any serious spending through. But there 'may' just be enough benefits to hold on at $350, as that puts it in range with the premium cards of the big 4..

P
 
Thanks for the data point Moindardt. A good result for you.
 
I pay $350 for my prestige (because I was a citigold customer).

Don't know if there is much value there in $350 p.a. given the measly low earn rates.

I used it for overseas spending mainly, was willing to pay 3.3% fee for 2.5points. Looks like that value proposition is going down (even in the midst of overseas spending not affected by interchange regulation)

I am currently based in HKG and have a Citi Prestige here too - at least that gives you c.20,000 miles for a US$300 annual feel.
 
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I still have not been advised by Citi about these changes, due 15June.

I thought after the debacle about Citi no notice changes last time in Nov'15 they committed 2months notice. Isn't in their T&C's?

I recently cancelled Citi Emir card; Citi Signature is next on my list to cancel. The Citi cards for SQ points transfer is now just not feasible/economic. I "buy" or pay for points; its now a better deal to actuall pay $ for a SQ flight!!.
QF cards now seem the best option, eg ANZ latest deal is 1 for$1 + 80,000 sign on
Posted 20April'17
 
I still have not been advised by Citi about these changes, due 15June.

I thought after the debacle about Citi no notice changes last time in Nov'15 they committed 2months notice. Isn't in their T&C's?
I rcvd email today with full details encluded.
 
Same here - same as posted by point hacks when the story broke. No mention of new VFF transfer rates - although if kept the same, that's only 0.5ppd. I'm sure can match it elsewhere with a lower annual fee.
 
He ended up escalating it and they came back with $350 annual fee for life + 15000 points. Given I can use all the transfers and free hotel next month, (which will save about $400) and I get another 2 months at the higher earn, I think that is a decent result.

PLEASE get that in writing, considering their past history of 'enhancements'.
 
After Moindardt's post about reduced fee fire life, the Gentleman called up to try and get the same offer for his Prestige card. He was given the $350 fee reduction as well as 15000 points but was told that they could not offer him reduced fee for life as there is nowhere in the It system that they could put in that request/adjustment.
 
After Moindardt's post about reduced fee fire life, the Gentleman called up to try and get the same offer for his Prestige card. He was given the $350 fee reduction as well as 15000 points but was told that they could not offer him reduced fee for life as there is nowhere in the It system that they could put in that request/adjustment.

May we know an approx spend on the card? Even if it's just 0-100K, 100-500k and 500k plus would be great!
Thanks
 
Not sure TBH but I think it is north of 500k. If I recall correctly, another AFF poster has previously mentioned success in negotiating the fee down as they held funds with Citibank (eg cash, term deposit).
 
Not sure TBH but I think it is north of 500k. If I recall correctly, another AFF poster has previously mentioned success in negotiating the fee down as they held funds with Citibank (eg cash, term deposit).


$350 per year is a published benefit of Citigold, and a spend of >$30,000 per year spend.
 
We have to find a card to pay land tax, shire rates and water rates after the middle of June. I cleared out the warehouse a few days ago.
 
Yes seems we are all confronted by murky waters - it's going to take a bit to construct a new game plan for those without big tax bills as main plank but hopefully there are some ops that arise - clearly well hidden right now but onward and hopefully upward.
 
My Citi points party started way back in 2004 is coming to an end. All things must pass.

Seems poor timing to concurrently slash airline FF points transfer rates. The Citi rewards points bank could have been a reason to hold onto the Prestige card until all banks show their hands on upcoming card changes.
 
I appreciate that the discussion is about Citi/credit cards/interchange, so I am going to digress slightly...

Is there a charge to a merchant if I use an EFTPOS card and select my savings account? A few places I have been to recently charge a surcharge regardless of credit or debit payment.
 
Yes there is but debit is usually a fixed cost, as opposed to % for credit for the merchant.
 
Jessica: For most businesses the cost would be 5-50c (but mostly somewhere in between - rare to be charged more than 25c even as a small business). I think that some acquires even waive the fee on transactions under $10 which has helped many of those annoying "$10 minimum" signs disappear. Woolworths and Coles even make a few cents when you press savings/cheque as they own and run their own EFTPOS networks just like a bank. :)
 
Yes there is but debit is usually a fixed cost, as opposed to % for credit for the merchant.

Jessica: For most businesses the cost would be 5-50c (but mostly somewhere in between - rare to be charged more than 25c even as a small business). I think that some acquires even waive the fee on transactions under $10 which has helped many of those annoying "$10 minimum" signs disappear. Woolworths and Coles even make a few cents when you press savings/cheque as they own and run their own EFTPOS networks just like a bank. :)
Thank you.

Now back to our regular programming ... :)
 
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