Citibank upgrading fee free Gold to fee free Platinum

[sparoy]

Just received today in the mail a new fee free Citibank Platinum to replace my fee free Gold card :shock:.
Not sure why they sent it as I certainly didn’t ask for it, but hey I’m not complaining. It includes fee free supplementary Platinum as well.
I’m trying to see whether there’s any catch in the T&C, but so far I can’t find any.

Fee free Platinum card… thank you Citibank .

 

[oz_mark]

Maybe cause they get extra fees when you use a plat card compared to a gold card.

 

[kamchatsky]

What is your annual spend on Gold card? Also what is the additional benefits of Platinum card compared to the Gold Card?

 

[sparoy]

What is your annual spend on Gold card? Also what is the additional benefits of Platinum card compared to the Gold Card?

About 30K p.a.
Certainly not a large amount by Platinum card standard.

The new Platinum card comes with a chip, so may be it's another reason for the upgrade?

Here's a link to card comparison

https://www.citibank.com.au/global_docs/Compare_our_cards.htm

Additional benefit includes Free Personalised Rewards, Personal Concierge and Extended Warranty among others.

 

[gregff]

This sounds a good deal.
1. Are you sure it is not fee free for just a year (or is it fee-free for life)?
2. I recall with the gold fee free for life there were a number of fee-free supplementary cards available. Is this just limited to one?
3. Do the newly issued Plat or Gold cards as well as being chip-enabled, have the pay pass (contactless payment) option.

 

[Febs]

Girlfriend called me today: "I got a replacement Citibank card, and it looks different."
Me: "Is it a Platinum card?"
Gf: "I don't know, don't think so, it's silver. Oh wait, it says Platinum."

I got home and whaddya know...there's a Platinum card waiting for me too.

Funny part is, neither of us use the card much at all (it's my second card). I've put about $9k through it in the last 12 months, she's probably put about $3k on it. We do both pay our bills off in full each month though.

The accompanying letter says "As a highly valued customer, we have taken this opportunity to upgrade you to our exclusive Citibank Platinum Credit Card with no change to your annual fee, currently $0.00 per year*"
*The Annual fee you will pay on your new Platinum Card is the same as you paid on your Gold Card, currently $0.00 for the Primary Card and $0.00 for each additional card.

They've also offered a credit limit increase I don't want/need, and it seems you might have to accept both the card + limit increase together. Oh well, I'll ask to see if I can keep my old credit limit.

It's a new card with a new card number, and of course, the chip. The letter goes on to talk about all the Platinum benefits, and again confirms that I won't be paying anything for the card.

Thanks Citibank! Glad I didn't take up the $131/year offer a while ago. I suspect this will make renting a sportscar in Europe much easier next year too.

This sounds a good deal.
1. Are you sure it is not fee free for just a year (or is it fee-free for life)?
2. I recall with the gold fee free for life there were a number of fee-free supplementary cards available. Is this just limited to one?
3. Do the newly issued Plat or Gold cards as well as being chip-enabled, have the pay pass (contactless payment) option.

1-2 see above. 3 - No mention of it, but mine's a Visa (is Paypass Mastercard only?)

Cheers,
- Febs.

 

[StevePER]

Me too - Platinum card arrived today with the same information that Febs quoted. Mine's a Mastercard, but there was no mention of pay pass in the brochure so I assume it's not enabled.

 

[Febs]

Oh well, I'll ask to see if I can keep my old credit limit.

They were pushy, but let me keep the old credit limit.

 

[kamchatsky]

I wonder whether Citibank change everyone onto Platinum is because they can charge more fees from the retailers? That would make sense, since they are not getting annual fee from us anyway, may as well upgrade us to Platinum for:

- make us feel special and good and will increase loyalty (well it is probably working from response here)
- provide another reason to increase credit limit (there should be a higher minimum credit limit for Platinum than Gold)
- potentially get more income by higher charges on retailers, and maybe even higher international currency exchange rate for Plat card (can someone confirm or disprove this here)?

Who knows the percentage of costs for normal/Gold/Plat Visa/Mastercard charged to the retailer?

 

[oz_mark]

I am sure people paing $250 a year for a plat card would be less than amused to find out that Citi was hading them out for free!

 

[lovetravellingoz]

I note thae the wording includes "currently"....

So hopefully if you shift it does not allow them a year or two down the track to introduce a yearly fee.

 

[Febs]

I note thae the wording includes "currently"....

So hopefully if you shift it does not allow thema year or two down the track to introduce a yearly fee.

I thought about that too, but my understanding of the use of the word "will" in "The annual fee you will pay on your new Platinum card is the same as you paid on your Gold card" is that this applies to the card in the future.

Of course, they could change the rules whenever (just like they could with the Gold, I'm sure), and it's on that day that I'll dump the card.

Cheers,
- Febs.

 

[StevePER]

I note thae the wording includes "currently"....

So hopefully if you shift it does not allow them a year or two down the track to introduce a yearly fee.

There's more about the fee in the "Frequently Asked Questions" on the back of the letter. There's never a sure thing with Citibank but I'm comfortable about making the switch...

Will I be charged any additional fees for this new card?

No, you will pay no additional charges to receive or use your new chip credit card. The normal fees and charges associated with your Gold credit card will apply to your new Citibank Platinum Credit Card.

 

[NM]

I thought about that too, but my understanding of the use of the word "will" in "The annual fee you will pay on your new Platinum card is the same as you paid on your Gold card" is that this applies to the card in the future.

Of course the "will" may only apply for the first year. That would still remain grammatically correct, but may not pass other measures from legal to moral.

 

[bigmudcake]

I received my "FREE" out of the blue platinum card today to supposedly upgrade my "no annual fee EVER" gold card.

I think everyone needs to tread carefully before upgrading.

I checked out the original offer on the gold card I signed up to. The fine print relating to "no annual fee EVER" said "No annual fee will be charged on your credit card account for the life YOUR ACCOUNT REMAINS OPEN"

If you look carefully, you will see that the account number is different from the gold card to the platinum card.

I am no lawyer, but in my view this could technically mean by upgrading you have closed your gold card account and opened your new platinum card account thereby canceling the fee free offer and opening up the ability for Citibank to charge an annual fee in the future.

I will ring Citibank to verify.

 

[dajop]

If you look what's happening in Amex land, I wonder if this mass move to Platinum, means that QFF points will no longer be an option for Gold ( & lower) cards? Or is this already the case?

 

[Febs]

I received my "FREE" out of the blue platinum card today to supposedly upgrade my "no annual fee EVER" gold card.

I think everyone needs to tread carefully before upgrading.

I checked out the original offer on the gold card I signed up to. The fine print relating to "no annual fee EVER" said "No annual fee will be charged on your credit card account for the life YOUR ACCOUNT REMAINS OPEN"

If you look carefully, you will see that the account number is different from the gold card to the platinum card.

I am no lawyer, but in my view this could technically mean by upgrading you have closed your gold card account and opened your new platinum card account thereby canceling the fee free offer and opening up the ability for Citibank to charge an annual fee in the future.

I will ring Citibank to verify.

Wouldn't surprise me.
I had the same concerns, but am willing to risk it. As it's my secondary card, I'm not too concerned if I have to ditch it.

Cheers,
- Febs.

 

[canabear]

Febs,

As a matter of interest whats your primary and why?

 

[Febs]

Febs,

As a matter of interest whats your primary and why?

It's always been the Amex Premium QF card (1.25QFF points per dollar, direct sweep) however lately I've been using my corporate green charge card due to the double Starwood points promo (1>0.6 instead of 1>0.3). I've had the QF Amex fee-free for the last 2 years (and this coming year is free too).

Reasons are:
* I used to only want to earn QFF points. Now that I'm earning plenty through travel, I'm re-considering this. 1.25pts was better than the 1pt through Citibank.
* Better forex rates (marginally) on the Amex
* Better customer service with Amex.

Cheers,
- Febs.

 

[serfty]

Several months ago a Citybank Visa popped up in the mail. Accompanying documentation indicated all I had to do was activate it and My existing old card (non visa, fee free) would be automatically deactivated and all limits/balances transferred across.

Since I was using this for OS cash withdrawals I cut the new one up and shredded the documentation- binning the lot.

It less use at the moment as my Wizard is doing the trick. Of course, this may change.