Citibank halving exchange rates when converting to QFF

[pkoul1971]

I spoke to Citibank today and I was told that from the 11th of June when transferring Citibank rewards to QFF points that the exchange rate will be halved in your have a Silver card.

Can they do this??? Has any heard this yet or received information from Citibank?

Very concerned!

 

[oz_mark]

Yes, see my second post in this thread. It was mentioned on statements around March or April.

http://www.frequentflyer.com.au/com...ram/all-citibank-gold-visa-holders-13024.html

 

[coco50]

Yes, see my second post in this thread. It was mentioned on statements around March or April.

http://www.frequentflyer.com.au/com...ram/all-citibank-gold-visa-holders-13024.html

Saw your post and read in to it carefully. I have a CB Plat and have not seen any info about points discounting. To the OP of this thread - yes - they can do it. They own the bat and ball and they need a good innings. Citibank have had a terrible year and are looking to minimise expenses.

 

[oz_mark]

Saw your post and read in to it carefully. I have a CB Plat and have not seen any info about points discounting. To the OP of this thread - yes - they can do it. They own the bat and ball and they need a good innings. Citibank have had a terrible year and are looking to minimise expenses.

I imagine that as Gold and Plat is not affected in this round of discounting that they haven't been told.

 

[Alanslegal]

I imagine that as Gold and Plat is not affected in this round of discounting that they haven't been told.

I have a gut feeling CB would be too afraid to halve points to the Gold card. I would hear an exodus of Gold Card holders cancel if this was the case.

 

[beardoc]

I have a gut feeling CB would be too afraid to halve points to the Gold card. I would hear an exodus of Gold Card holders cancel if this was the case.

I would hope so - although I wonder of the "fee free for life" cardholders - would we retain it or stop using it?

 

[mosanator]

I would hope so - although I wonder of the "fee free for life" cardholders - would we retain it or stop using it?

I would retain it as a wallet filler and emergency only, and go looking for another card.

 

[Febs]

I would retain it as a wallet filler and emergency only, and go looking for another card.

I'd do the same.

 

[kamchatsky]

I'd do the same.

But even if CB decides to halve the point to Qantas for Gold/Platinum card holders, what other Visa/Mastercard offers points to Qantas with no annual fee for life? Wouldn't CB still comes out on top? A lot of places still don't take Amex.

 

[Chicken]

But even if CB decides to halve the point to Qantas for Gold/Platinum card holders, what other Visa/Mastercard offers points to Qantas with no annual fee for life? Wouldn't CB still comes out on top? A lot of places still don't take Amex.

I am now using Earth+ from my girlfriend, as I am capped by Citibank. Yes, it is converting at 0.5 point, but at least there is no cap.

I will get her to switch back to Altitute after this year, so we can convert at .05 mile with Singapore (hence *A), instead of 0.5km with QF.

Even if there is no cap with Citibank at $1 = 1 QF point, it is still not that good anymore, since Westpac is $1 = 0.5 mile with SG with no cap. Hey, basic Altitute is only $100

 

[oz_mark]

I will get her to switch back to Altitute after this year, so we can convert at .05 mile with Singapore (hence *A), instead of 0.5km with QF.

QF enhanced their scheme from km to miles some time ago, so they both use miles now.

 

[Chicken]

QF enhanced their scheme from km to miles some time ago, so they both use miles now.

OK, but QF still sucks with their burn ratio, say SYD - LHR

QF needs 128000
VS needs 105000
SQ needs 95000

So I really don't value QF that much anymore since Westpac starts converting points to SQ

 

[oz_mark]

One wonders what is going on - SPG dropping out, Citibank halving redemption rates all points to the cost of points being jacked up, presumably at a contract renewal point. It will be interesting to see if other partners change the amount of QFF points you get.

I think if QF want to increase the number of places that you can earn points then they are going to have to be a bit careful on how much they charge their partners for the points, otherwise this strategy will not work. The outcome maybe that it will be easier to get points on other programs such as KrisFlyer, as people work out that this is a more valuable proposition.

 

[beardoc]

One wonders what is going on - SPG dropping out, Citibank halving redemption rates all points to the cost of points being jacked up, presumably at a contract renewal point. It will be interesting to see if other partners change the amount of QFF points you get.

I think if QF want to increase the number of places that you can earn points then they are going to have to be a bit careful on how much they charge their partners for the points, otherwise this strategy will not work. The outcome maybe that it will be easier to get points on other programs such as KrisFlyer, as people work out that this is a more valuable proposition.

Agreed - I think will particularly be the case if Virgin Blue gets themselves into Star Alliance. Being able to earn Krisflyer points will mean I'll move my points earning there (better proposition), and if DJ joins, then I would bring my flights domestically to DJ in order to supplement my Star Alliance points earning rate.

 

[BiziBB]

No sign of such a cut to the Citi Gold MC, at least on the statement in my letterbox yesterday. I was worried there for a while!

What's the best use of 50k QF miles, anyway?

If Citi could allow Citi cardholders to redeem for non-QF miles, our rewards might be more useful.

 

[casp]

Today I called Citibank, asked them why they changed the rate without any notification. The lady told me it's on May's statement. I said I got my May's statment in my hand, but there is no where mentioned about the change. Then she said it's on April's statement. I said I got my April's statement in my hand as well, show me where. She said she wasn't sure and put me to the reward department. I asked the reward department the same questions, they said it's on May's or April's statement. I told this lady it's nothing there. She said it's on March's statement then. I asked if I could fax her my March statement and if she could point out where it's mentioned about the change. Her reply was the notification was published on 1st April 'The Australian' as well!
I am not sure there is nothing printed on my statement. I didn't receive any notification on seperated paper neither. Anyone got the same experience? I asked the Citibank's customer care fax number, will send them a formal complaint in writing. If anyone have the same experience, please send your complaint to 02 82255131.

 

[oz_mark]

On the back of the April or May statement do you have something headed "Travel with Citi Rewards"? It's part of the fine print of that ad!

 

[oz_mark]

The relevant parts of the T&C's have been updated as

For Platinum and Gold Cardholders, 1 Citi Reward point may be redeemed for 1 Qantas Frequent Flyer point. For Silver Cardholders, 2 Citi Reward points may be redeemed for 1 Qantas Reward point. Redemption amounts must be in fixed blocks using a minimum number of Reward points as specified by Citibank at the time of redemption. Points transferred may take two business days or longer to appear in the member's Qantas Frequent Flyer account.

See: https://www.citibank.com.au/AUGCB/I....do?page=ripper_content/terms_conditions.html

 

[casp]

On the back of the April or May statement do you have something headed "Travel with Citi Rewards"? It's part of the fine print of that ad!

No, nothing on my Feb, March, April, May and June statement!

 

[BiziBB]

Hello fellow Citi gold for life cardholders,
I'm looking to transfer a 50k block into my QFF.
Possible or do I have to do it ONLY in blocks of 20k at a time?

I figure this is a last chance to try to get value from the miles.