I am thinking along this line as well.Great news
I will be transferring my points and whilst continuing to use the card will not let the balance get too high.
UPDATE | Citibank has confirmed to Australian Business Traveller that the unannounced and unexpected cuts to frequent flyer 'conversion rates' in the Citibank Rewards program introduced on November 1 will be overturned and restored to the previous, more generous figures.The changes introduced served to increase the number of Citi Rewards Points needed to receive a frequent flyer point with Virgin Australia Velocity and Singapore Airlines KrisFlyer, which came without any prior notice and had the effect of instantly devaluing points that had alreadybeen earned on Citibank credit cards.By reverting its decision, Citibank cardholders will be able to swap those Citi Rewards Points for airline frequent flyer points at the rates advertised when those points were originally accrued.The Citibank spokesperson continued in saying that "we expect the changes to be made as soon as possible, but (it) will likely be a couple of days (before these take effect)."We're also told that the previous airline conversion rates as effective on October 31 2015 will remain in place for the time being, subject to any future changes – for which we'd expect the bank to provide ample notice to customers.
What a bone-headed move to try and think they could get away with this. Now they've surely lost a boatload of customers, without getting anything out of it.Hi C. Thx for getting in touch. Conversion rate for the two airline programs will be returned to the rate as at 31 October.
I expect many of us will be scrutinising any terms and conditions changes that come through the post for this programme...reading the statements fine print etc....After the rate is changed back, who's expecting a clearly worded change to the T&C's to allow them to make unannounced changes in the future?
Here is something off the Citi Rewards T&C site. In Citi Rewards the redemption of airlines points and the like is referred to as point transfers....I expect many of us will be scrutinising any terms and conditions changes that come through the post for this programme...reading the statements fine print etc....
Here is something off the Citi Rewards T&C site. In Citi Rewards the redemption of airlines points and the like is referred to as point transfers....
I am not suggesting this has been changed.. Just that there are alot of T&C that apply to many different scenarios..
3.6.4. We may change the Points Transfer program rules including participation of travel loyalty program providers, regulations, policies, benefits, conditions of participation or points/mileage levels (if applicable), in whole or in part at any time with or without notice.