Citi cards - major changes

[Jack_OC]

Indeed it does - cleanout day for me will be Wednesday June 14. What a ride the Citi manufacturing plant has given me and many others.

Is waiting until 14 June for the full balance a tad risky? Once I had a Citi to KrisFlyer transfer fail to go through, for unexplained reasons, with the points then reappearing in my Citi Rewards account about a week later. I wonder where you would stand if that happened to a transfer you originally requested on 14 June? By rights you should still qualify for the current transfer rate, but I wouldn't like to be in a position where I had to argue that point with Citi.

My plan is to transfer most points out this week, while ensuring I still have enough to meet the minimum transfer requirement, and then do another transfer on 14 June.

 

[Jack_OC]

Just having a look what to do with my Citibank points. I have a meagre 34000, which can be converted to 17000 VFF points. ( yes I can get 15% bonus right now )
However that 34000 converts to $231 (converts at approx 0.68c a point) for use purchasing an airline ticket through Citi Rewards. Thats better value than converting to VFF!

Right now a reward seat I want is 22000 VFF + $89, or keep the points at Citibank and use my 34000 citi points + $69. That means I saved $20, 5000 VFF points and get status credit. No brainer.

Do you mind me asking what flight you have in mind? It seems strange that a flight that is available for $300 cash would cost 22,000 Velocity points + $81. For example, you can get a return flight from MEL-SYD-MEL for 15,600 Velocity points + $42. That would normally cost at least $300, and $400+ is not at all unusual. If the cash fare was $400, you'd be saving $358 by using 27,478 Citi points (if you transfer to Velocity during the 15% bonus period), which would value your Citi points at about 1.3c each, instead of 0.68c each if you redeem via Citi.

In any case, you are correct that redeeming Velocity points (or indeed almost any FF points) for economy flights is rarely great value. However, if you’re going to do this, my advice is to wait until you are looking to book a flight that isn’t available so cheaply with cash, and then the points will be worth more.

 

[theblank]

Do you mind me asking what flight you have in mind? It seems strange that a flight that is available for $300 cash would cost 22,000 Velocity points + $81.

DPS>BNE (or was it the other way around) for about $300 on VA & Citibank. The Citi price was a couple of dollars or so more.

However, if you’re going to do this, my advice is to wait until you are looking to book a flight that isn’t available so cheaply with cash, and then the points will be worth more.

Thats good thinking, but also I have too many points and not enough cash

 

[Cruiser Elite]

cleanout day for me will be Wednesday June 14.

Is waiting until 14 June for the full balance a tad risky?.........................My plan is to transfer most points out this week.......................... and then do another transfer on 14 June.

Cleanout Day = final cleanout of pts balance - majority transferred today.

 

[cove]

Why so early CE? We pay all of our creditors on the last banking day of the month plus there are all of the vehicle licenses and quarterly rates and taxes. I think mine will go much closer to your earlier proposed date as we don't get back home until Sunday.

 

[Cruiser Elite]

Re: Time for a credit card backlash

I will still have another transfer at least cove - if not 2 - it costs nothing to transfer - no chance my points ever approach that 36mth mark so that is not a consideration at all.

 

[imipenam]

Re: Time for a credit card backlash

Just emptied my balance into Asia Miles. Took only one night to transfer across ... can't complain. Pity the card is getting dumped.

 

[N860CR]

I'll be retiring the citi rewards card. It's fee free for life so it can sit in a drawer.

I've received a St George Amplify Signature today. The signup bonus was the main point... but it seems like an ok option for visa spend.

 

[Kangol]

I'll be retiring the citi rewards card. It's fee free for life so it can sit in a drawer.

I've received a St George Amplify Signature today. The signup bonus was the main point... but it seems like an ok option for visa spend.

It's higher than Westpac Altitude Black MC (0.625 ppd uncapped) and ANZ Rewards Black Visa (1 ppd up to $7500 per month, dropping to 0.5 thereafter, uncapped).
Other 1 ppd Visa/MC cards are capped at $2.5-4k monthly, then halving thereafter.

 

[DeKa]

Does anyone know what exactly Citi means by " major national retailers" in their new tiered earning criteria? I can't find a clear definition or a list of retailers anywhere.

I emailed Citi and got this response:

Examples of this include, but are not limited to: Myer, David Jones, Bunnings, Target, Kmart, Big W, JB Hi Fi, Apple, Freedom, IKEA, Harvey
Norman, Bing Lee, Good Guys


For more information, please visit Citi Australia

I think all of those accept AMEX except IKEA (although JB Hifi charge an AMEX surcharge, which can be avoided with gift cards).

 

[lovetravellingoz]

Well I have now officially put out to pasture my free for life Citibank.

In the last week I have received both my StGeorge and NAB Visa and so have qualifying spend for sign on bonii to achieve.

Will now only ise my Citibank if they send me a special promo and even then will have to consider it long and hard due their requirement that you have to earn 20000 points before you can redeem them for ff points.

 

[hummel]

Well I have now officially put out to pasture my free for life Citibank.

In the last week I have received both my StGeorge and NAB Visa and so have qualifying spend for sign on bonii to achieve.

Will now only ise my Citibank if they send me a special promo and even then will have to consider it long and hard due their requirement that you have to earn 20000 points before you can redeem them for ff points.

NAB Visa Premium? I've got that and trying to work out how I can view points earned? Do they even have a points portal or do they just transfer straight across?

 

[theblank]

NAB Visa Premium? I've got that and trying to work out how I can view points earned? Do they even have a points portal or do they just transfer straight across?

The rewards portal is accessible through Internet Banking. If it doesnt appear in your Internet banking then you dont have any points yet.

 

[legroom]

Emptied my points balance today.

Will have to quit before renewal time comes up - No way you can justify the $700 annual fee [esp when hotel bookings are "not available" when you need it].

 

[ermen]

Vale Citi Prestige which was the probably the best card in Australia in its heyday.
Prob won't cut it though if I can maintain the A$350 annual fee...

 

[hummel]

The rewards portal is accessible through Internet Banking. If it doesnt appear in your Internet banking then you dont have any points yet.

Only had the card for 3 weeks so maybe not just yet. I've had a look for it but can't see it in my IB.

 

[daft009]

thinking of doing a family transfer from my wife's citi to my citi.
anyone done this and have any handy tips please?

will then shift everything across to my KF account.

 

[Kangol]

thinking of doing a family transfer from my wife's citi to my citi.
anyone done this and have any handy tips please?

will then shift everything across to my KF account.

You have to send the request via snail mail or fax. Ridiculous!

 

[daft009]

thanks, faxed off a letter in the morning yesterday, they said 5-7 working days.
hmm which means I might miss the 15th June cut off.
bugger should have done it sooner

Hopefully they have no issues with transferring the points from a Citi platinum to my Citi signature?

 

[Cruiser Elite]

I simply do not get how so many AFFers claim so many problems with Citibank. I have held multiple Citibank Cards over a long period - and do they ever get some usage. This morning I have reconciled and paid off May / June Statement for Prestige. 170 individual transactions for the month - which is slightly more than normal - only myself and 2 sup card holders - I cannot remember the last time I had any difficulty with any transaction

I use the card o/s regularly in any country I visit and have never ever called Citi to tell them - occasionally I get a call to ask am I in that country and are transactions bona fide - I just do not get it. And am I ever going to miss those 1 Kf pt / $1 spend - breaking my heart,