Citibank Free For Life Credit Cards and MyCard Termsand Conditions

[JohnGlav]

I think this issue deserves a separate thread.

One that card holders who object to the plans NAB has for the Citibank Fee Free for Life Credit Cards can find more easily.

Link for background discussion context (pages 14 and 15 only):

O

Thread 'Who else still holds the Citibank Free For Life Premier Card?'

Jan 18, 2021

Hi,

I still hold the Citibank free for life card from ages ago - it has been upgraded over the years and is currently a Citibank Word Premier Mastercard. Its reward program is not very good, and I only use it for certain small spending (under $20k per year).

Recently I applied for a Citibank card that had a $500 gift card promo signup offer and I was declined. I can't remember the last time I was declined for a card. It could be due to a number of reasons which I would only be guessing (two other premium cards open with not enough income, or Citibank can see my history that I pay my...

• one9
• Replies: 288
• Forum: Citibank

Link to the MyCard Terms and Conditions.
https://www.cdn.citibank.com/v1/aug...edit-Card-TCs-Other-Important-Information.pdf

On Page 4:
"We may change any of the terms and conditions that apply to your Account, including your Credit Limit, by reducing it, Annual Percentage Rates, fees and charges, the calculation of repayments and other Account features."

Paragraph 11 states:
'We may change the terms and conditions applicable to your Account, including changing any condition, APR and fees and charges.'

A unilateral and absolute discretion to the Bank to charge fees.
This looks a lot like NAB's Citibank Plus playbook.
If there is significant cardholder outcry, expect NAB to try dividing and conquering cardholders by offering a fee waiver.
Which wavier of course is only going to be for a season.

If you are a card holder who objects, feel free to contribute your comments and suggestions.
Together we can aspire and try for a better outcome.

Please do not be offended if you are a doomer, clandestine operative, suppressor of narratives, hornet, wasp and/or bee keeper and are ignored.

 

[aikman]

It's all speculation at this stage.

 

[JohnGlav]

Unfortunately it is not speculation.

I wish you were correct.

Link to the MyCard Terms and Conditions.
https://www.cdn.citibank.com/v1/aug...edit-Card-TCs-Other-Important-Information.pdf

 

[JohnGlav]

Hat tip to Wyler.

"Then wait until we use it".

If you are a Citibank Fee Free for Life Credit Card holder and object to the new MyCard terms and conditions, then we need to refrain from using (perhaps even activating) the new MyCard.

The moment we use it, NAB will have a legal argument that we have accepted the new MyCard terms and conditions.

I'm guessing that NAB may even have slipped a 'deemed acceptance' of the terms and conditions sentence or paragraph somewhere in the document.

That's what I would do in my old Corporate Counsel role.

Make no mistake, this is the tail end of a carefully orchestrated campaign by NAB's decision makers undertaken with the support of their corporate counsel and external lawyers of the highest calibre.

The pushback by cardholders who object needs to begin now.

In October 2025 before the new MyCard is used.

 

[CaptJCool]

Fee free for life

NJ man has flown 23 million miles with $290K lifetime pass: ‘Best investment of my life’

“I just really love everything about flying.”

nypost.com

Here’s how to honour the deal

However, seems the free deal at Citibank got them plenty of market share, boosted the sales price and leaves the new owner NAB stuck with a portfolio of “unprofitable accounts.
“
At the time it was announced I had a Citibank card paying a 50% annual fee so didn’t apply. It reflects the loyalty tax paid by long term customers who get zero ….