Reduction in Transfer Rates to Velocity/Krisflyer

[gizzard]

6.2 We may vary these Rewards Program Terms and Conditions from time to time. We will notify you of a change in the following ways:
a. If we change the rate at which all Points in the program are generally earned or converted we will give you 90 days written notice of that change;

b. We will give you 30 days written notice of other changes to these Rewards Program Terms and Conditions;

c. If we change the Point value of individual goods or services in the program to reflect changes in the price charged by our suppliers for those goods or services, or if a particular Reward is unavailable we will notify you on our rewards website at the time you redeem your Reward

(I altered the labelling for reference purposes)

I can see them wriggling out of this.

a. They can say that they haven't changed they way that you can earn points and nor have they changed the way they are converted, that is, your expenditure on the card is converted to Citi points. I think that is what is implied, that the conversion is to Citi Points from dollars spent on the card not from Citi Points to Airline Miles.

c. They can say that the price that they are being charged by SQ has changed and that they notify us at the time that the reward is redeemed.

Not nice, but I think they may have covered themselves to give no notice.

 

[robd]

Very poor form. Time for a change of card me thinks.

 

[hummel]

Spewing.. have 150k in the account.

I actually like the signature card but can't say I'm too keen on Citi right now!

 

[Mattg]

Not nice, but I think they may have covered themselves to give no notice.

Even if this is the case, it's still extremely poor form...

 

[kpc]

Spewing.. have 150k in the account.

I actually like the signature card but can't say I'm too keen on Citi right now!

feel for you...wait til cove finds out!!:shock:

 

[Spizz]

I called again and mentioned the 90 days notice under the T&Cs and they gave me a case number and someone will call me back in 24-48 hours. We shall see.

I agree, wait till Cove finds out.

 

[hummel]

feel for you...wait til cove finds out!!:shock:

Yep there's always someone worse off! Makes me think I should move my MR's from Amex as well!

Also.. there is only EK, SQ and VA now days??

Coincidence that they weren't part of the 15% promoting for VA this month? If they were I'd be sweeping them across. Oh well lesson learnt.

 

[scwappy]

(I altered the labelling for reference purposes)

I can see them wriggling out of this.

a. They can say that they haven't changed they way that you can earn points and nor have they changed the way they are converted, that is, your expenditure on the card is converted to Citi points. I think that is what is implied, that the conversion is to Citi Points from dollars spent on the card not from Citi Points to Airline Miles.

c. They can say that the price that they are being charged by SQ has changed and that they notify us at the time that the reward is redeemed.

Not nice, but I think they may have covered themselves to give no notice.

I hope your interpretation is incorrect

 

[Spizz]

Yep there's always someone worse off! Makes me think I should move my MR's from Amex as well!

Also.. there is only EK, SQ and VA now days??

Coincidence that they weren't part of the 15% promoting for VA this month? If they were I'd be sweeping them across. Oh well lesson learnt.

I have yet to see an Amex transfer devaluation in all the time of had my Amex Plat card, so I feel more comfortable keeping them warehoused there.

As for only 3 transfer partners with Citi that is correct, unless you have a Prestige card then you have 17 more options-

http://www.australianfrequentflyer....ching-citi-prestige-63672-38.html#post1222931

 

[MEL_Traveller]

First of all - apologies to all those affected. But I'm confused. A family member recently changed over to the Citi Rewards program (earlier this year), I thought they were only getting .5 kris flyer point per dollar spent (citi signature). Were others on a higher rate which has now been adjusted down?

 

[yohy?!]

I called again and mentioned the 90 days notice under the T&Cs and they gave me a case number and someone will call me back in 24-48 hours. We shall see.

I agree, wait till Cove finds out.

Promising..hopefully they are getting a lot of negative feedback giving the timing of the VA transfer bonus. People can vent to social media also to keep the pressure on:

https://twitter.com/citibankaus

http://www.facebook.com/citibankaustralia

 

[asg29e]

First of all - apologies to all those affected. But I'm confused. A family member recently changed over to the Citi Rewards program (earlier this year), I thought they were only getting .5 kris flyer point per dollar spent (citi signature). Were others on a higher rate which has now been adjusted down?

I'm not sure that "apologies" is the correct word, unless of course you were the one who caused this. But yes, the Citi Prestige had an earn of 3Citi points:2 KF points. Or 1.33 KF point/$. And I thought the Signature was 2Citi:1KF, or 1KF/$ but I will defer on that to people who have the card.

 

[cove]

Cove has found out!
Where is that dislike button.
I was in my US Citi card accounts a few minutes ago .....and they are still fantastic. It is AA mile city over there.

 

[Plutonus]

Signature was 1.5:1, so effectively 1KF/$ on domestic spend.

I'm not sure that "apologies" is the correct word, unless of course you were the one who caused this. But yes, the City Prestige had an earn of 3Citi points:2 KF points. Or 1.33 KF point/$. And I thought the Signature was 2Citi:1KF, or 1KF/$ but I will defer on that to people who have the card.

 

[cove]

I know you were worried about me but I have cleaned out my Australian Citi warehouse a couple of times.
Still having over a million reward points getting devalued is harsh. If I was running Citibank I would have applied it to points earned after November 1st rather than steal value from all of their customers by a computer click.
Mrscove thinks what they have done is really odd but she is biased from the poor start she had with them.

 

[ninja-tim]

Ouch, not a happy chappy. Even if they reverse the changes, will much people will stay on considering how tempermental Citi is being?

 

[yohy?!]

Ouch, not a happy chappy. Even if they reverse the changes, will much people will stay on considering how tempermental Citi is being?

Not a chance in hell they obviously don't understand that doing something like this destroys any goodwill in their retail customer base (that they are investing to grow!).

They are a small player in the market and converting lots of loyal customers into negative 'brand ambassadors' to save a few bucks on points is just crazy.

 

[ninja-tim]

One other thing. I'm sure we could transfer Citirewards to either the primary cardholders FF program or the supplementary cardholders FF program, as long as the Primary/Supp has their FF number registered on the Citirewards site. I remember I did this last year in Oct, now I can't find any way to transfer points to the Supp cardholders FF accounts.

There's still an option on the site to allow supp cardholders to manage points and transfer, just can't find anywhere that will let me transfer to suppl cardholders FF account. Did they advise this was changing or sneakily changed it?

 

[infinity]

I know you were worried about me but I have cleaned out my Australian Citi warehouse a couple of times.
Still having over a million reward points getting devalued is harsh. If I was running Citibank I would have applied it to points earned after November 1st rather than steal value from all of their customers by a computer click.
Mrscove thinks what they have done is really odd but she is biased from the poor start she had with them.

Very disappointed with about 1.5m points now 20% worse off and no Velocity 15% uplift on their promo this month.

Will use the FOS route if needed

 

[robd]

All they had to do was give notice of the change and give everyone an opportunity to convert their points.

I'd like a refund of the annual fee by the same percentage. :evil: