Citibusiness Gold transfer changed?

[samillionaire]

Hi all,

Have been out of action for a while out of australia, today logged on to Citibank australia and called the rep from citibank to do a points transfer from Citibusiness Gold told me it was half the value now?

I have quoted 6 previous transactions to her all in blocks of 10,000 to 10,000 qantas points

is this the case?

 

[albyd]

Welcome back to Australia. While you've been gone, the RBA implemented new 'reforms' which have led to card issuers devaluing their points to compensate for lower interchange income. More to come.

 

[samillionaire]

Welcome back to Australia. While you've been gone, the RBA implemented new 'reforms' which have led to card issuers devaluing their points to compensate for lower interchange income. More to come.

thanks for the reply;

grr... RBA!

guess there's no point to the citibusiness gold now, only reason why i kept it was the 1:1 transfer whilst the plat was 2:1

 

[albyd]

You might be able to do a product transfer to one of Citi's other card offerings. Citi's offer remains one of the most competitive. All depends on your needs and how much you spend. Most have monthly points caps.

For instance Citi Signature - which you might be able to argue for reduced or no annual fee is 1:1 with QFF up to $3,000 monthly spend then 0.5:1 uncapped.
If your spending justifies the steep annual fee, Citi Prestige is 1:1 uncapped.

Happy hunting.