New Changes to Citi Cards

[Deleted member 6404]

To those that got an email is your credit limit above the prerequisite $30k?

Yeah just over

 

[DeKa]

To those that got an email is your credit limit above the prerequisite $30k?

Now I know why they were pushing huge credit limit increases in October... to get people above that magical number.

 

[aerotravel]

I am over $30k credit limit with annual fee free signature card.
Hopefully I get that "upgrade" too and keep the card annual fee free still.

 

[bismarck]

I'm at $30k and got the upgrade.

Agree that it is a hugely cynical exercise to get a higher interchange fee without the requisite benefits.

 

[Mark3000]

Yes, I'm over 30 too

 

[greenfrog86]

Now I know why they were pushing huge credit limit increases in October... to get people above that magical number.

I suspect that's the case... It was like pulling teeth when I applied for my increase. They called me four times to confirm my expenses etc and the staff had absolutely no idea what a margin loan is

I'm still under the magic number but it wasn't worrying me as I've moved all Visa spend to ANZ FF Black (to send to Velocity).

Obviously that strategy won't work soon as ANZ have announced changes too! Might be time to switch back to Citi as .75 FF points is better than .6 something, and it gives the option of transferring to KF at the same rate.

 

[leyy]

Did anyone get the upgrade on a $15k limit or less?

I reduced my limit recently to $15k

 

[Jhig]

To those that got an email is your credit limit above the prerequisite $30k?

yep at $48500

 

[quokka77]

Just got the same email today. Has anyone upgraded to Citi Prestige from Citi Signature annual-fee free?

Effectively you pay $700 to get 33% more points per $1.

If you value each point at $0.02, breakeven spent would be = $140K (locally per year, overseas you earn 5pts with Prestige)

Except they almost always lower the fee to $350 if you ring them and discuss cancellation.

 

[Flying Fox]

No email for me but last week I received a call from Citibank to increase my credit limit to approx $30K (I don't remember exactly).

Hoping for an email now.

 

[Mark3000]

Quokka do you have to ring them every year to get the $350 reduction?

 

[MELso]

Agreed. Not fair at all on shop owners
They pay higher percentage to bank for nothing

Actually, we end up paying for it through higher prices. With few extra benefits but higher prices likely, you could argue it's the David Foster Wallace of credit cards - Infinite Jest...

Still, I suppose they have to keep the benefits up somehow, because if it's correct that interchange rates have dropped from ~2% to ~1.4% on Signature cards, then they would have to make a similar reduction in earn rates and other benefits to maintain profitability...

 

[brendanli]

Got email this morning, $33K credit limit and fee free for life.

 

[kamchatsky]

Also got that email this morning. I actually cancelled my unused Citibank Platinum Card last month, and combine the credit limit to my Signature card to have more than 30K credit limit. I was hoping that it would "trigger" some Citibank Prestige free upgrade offers.

 

[Legoman]

Still, I suppose they have to keep the benefits up somehow, because if it's correct that interchange rates have dropped from ~2% to ~1.4% on Signature cards, then they would have to make a similar reduction in earn rates and other benefits to maintain profitability...

They already did that in response with the changes in earn & conversion rates. But as always with the banks, you give 'em an inch and they take a mile.

I only got the e-mail this morning as well and have a limit > 30K. It'll be interesting to see if another cardholder in the same household who has a limit < 30K will also get an e-mail. Interestingly though, I already had a limit > 30K last year when they offered the 50% increase, so perhaps one was not linked with the other. As far as I can see this change offers nothing extra of benefit to the cardholder at the expense of potentially reduced acceptance because of the higher merchant fee. So yet another 'devaluation' step backwards. Another example of the long-term bait 'n switch strategy.

 

[LordGarlic]

Did anyone get this in the email?? As I am not able to find any info on the citi visa infinite , am I worse off? As I tend to redeem my citi points for SQ points

Dear Lordgarlic

This is a quick note to let you know that by the end of March you will receive a newCiti Rewards Signature Credit Card in the mail. We are replacing your existing Card with a Visa Infinite version.

 

[M@rcoPolo]

Did anyone get this in the email?? As I am not able to find any info on the citi visa infinite , am I worse off? As I tend to redeem my citi points for SQ points

Dear Lordgarlic

This is a quick note to let you know that by the end of March you will receive a newCiti Rewards Signature Credit Card in the mail. We are replacing your existing Card with a Visa Infinite version.

What you are getting is exactly the same old Signature card - the only differences to you are:

- the Visa Signature logo on the card replaced by a Visa Infinite logo (this won't impress your friends)
- an offer to Earn Hilton HHonors Gold status IF you complete 2 stays or 4 nights at participating hotels within 90 days of registration
- 20% off "luxury" airport transfers, available within selected cities in Asia Pacific

In a nutshell - no major changes / improvements for you, only improvement is for Citibank that will earn a higher percentage on fees charged to merchants where you use the card.

Honestly, you may as well delete the email

 

[psi999]

As far as I can see this change offers nothing extra of benefit to the cardholder at the expense of potentially reduced acceptance because of the higher merchant fee. So yet another 'devaluation' step backwards. Another example of the long-term bait 'n switch strategy.

My thoughts exactly. Few auxiliary infinate-lite benefits that precisely no one will use, appearing to be zero additional points but a hefty interchange differential rate of 0.825% between Signature and infinite-lite.

In real dollars on a $1000 purchase:

Citibank signature $13.75
Citibank signature (infinite) $22.00

Brilliant move from citibank

 

[aerotravel]

Just got the email this morning! Only new benefits are Hilton HHonors and Airport transfer discount.
Nothing more! I was hoping for positive enhancements on points earn or points transfer or transfer miles to new partnerships.

 

[LordGarlic]

hmmm...won't it be nice if the email was to replace my card for the prestige card.......***dreaming***