Reduction in Transfer Rates for Citibusiness Gold

[bigray73]

Reading through the thread regarding the recent reduction in transfer rates for Citibank to Krisflyer and Velocity, it looks as though the transfer rate from Citibusiness Gold to Qantas Frequent Flyer has recently halved!

Can anyone confirm this?

 

[turnip666]

Yes Correct. Sadly.

Made the grizzly discovery early today.

Seems far more Velocity members are affected and Citibusiness is no longer available so we are fewer in number but our reduction is far greater than theirs.

 

[Jacques Vert]

Thanks for the heads up. Apparently reduced from 1 November despite the T & Cs on their Website still stating it is 1:1.

I have lodged a formal complaint; not likely to do any good but they need to know that customers are not happy.

I also just happen to have an appointment with a senior officer in Sydney next week so I will be giving him the benefit of my opinion.

I will wait until I receive a reply (assuming I do) and then cancel the card. I have too many cards anyway and need to cancel at least one so that I can apply for other offers (successfully).

A shame as this was a good card back in the old days.............

 

[mick]

Yes Correct. Sadly.

Made the grizzly discovery early today.

Seems far more Velocity members are affected and Citibusiness is no longer available so we are fewer in number but our reduction is far greater than theirs.

Yeah, this seriously affects my reliance on this card - so much so, it'll be shelved. I'm thankful I cleared out my Citi Rewards balance in the last Qantas 15% bonus on transfers in September. I now have to use the WOW Qantas CC for non-Amex purchases. Yuck!

 

[turnip666]

Yeah, this seriously affects my reliance on this card - so much so, it'll be shelved. I'm thankful I cleared out my Citi Rewards balance in the last Qantas 15% bonus on transfers in September. I now have to use the WOW Qantas CC for non-Amex purchases. Yuck!

I'm seriously annoyed at myself for not taking that offer. This has cost me 75000 points.

Citi are claiming changes are due to Velocity but that doesn't explain why only one QF card is affected.

 

[Jacques Vert]

I'm seriously annoyed at myself for not taking that offer.

As I am; I have previously taken up such offers but I have quite a few QFF points at present and thought that it might be good insurance to have a few points elsewhere.

So if I can't transfer at a decent rate I thought I would take a look at redeeming my Citi points for a flight: a return J flight SYD-LHR.

Answer: between 700k and 1.1m:shock: They have got to be kidding.

 

[yohy?!]

Took them about 2 days to respond to my secure message from online banking and provide a reference number:

 

[turnip666]

Took them about 2 days to respond to my secure message from online banking and provide a reference number:

They will be dealing with some "unexpected volume", which should have been seen coming from 100 miles away.

I have not had a response as yet, though they did respond on Facebook...with the same response they gave everyone.

ACCC don't need a ref number.

 

[Jacques Vert]

Took them about 2 days to respond to my secure message from online banking and provide a reference number:

Yes; I intend to do all three options that you list but I will wait for a reply to my first complaint. (It took 9 phone calls/complaints to get a resolution to an issue with my Westpac card so I expect at least that many with Citi.)

 

[turnip666]

Good news.This is appearing on FB posts

Like · Reply · 37 mins




Citi Australia Hi Sue. Thanks for getting in touch - we appreciate your feedback. The conversion rate for the two airline programs will be returned to the rate that applied at 31 October. Thanks.
Unlike · Reply · 1 · Just now

 

[bigray73]

Does the FB post only apply to Krisflyer and Velocity? What do you think we can do to get it to apply to Citibusiness Gold and QFF too?

 

[turnip666]

Does the FB post only apply to Krisflyer and Velocity? What do you think we can do to get it to apply to Citibusiness Gold and QFF too?

Hmm....I am assuming it will be the same. We might have to keep up the pressure to be sure

 

[turnip666]

They made the same response to this about QF and Citibusiness

Leigh Mereider I lost 50% of value QF points with Citi business card but QF unaffected with other cards. disgusting actions !!
Like · Reply · 5 hrs






Citi Australia Hi Leigh. We appreciate your feedback. The conversion rate for the two airline programs will be returned to the rate that applied at 31 October. Thanks again.
Like · Reply · 32 mins







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Lawrie Abbott I'm in same boat. They claim it was due to Velocity repricing, but tht does not explain QF earn on business card. They obviously want to remove that card totally. GEt onto ACCC and join AFF to keep up to date.
Like · Reply · 58 mins









Citi Australia Hi Sue. Thanks for getting in touch - we appreciate your feedback. The conversion rate for the two airline programs will be returned to the rate that applied at 31 October. Thanks.

 

[hankahanka]

We did it!

I wish I complained for some free points instead of blasting them on social media. All's well that ends well!

 

[turnip666]

We did it!

I wish I complained for some free points instead of blasting them on social media. All's well that ends well!

We'll see in a few days if they have included QF in the changes. They are using the same language of "both" programs. As the larger numbers of Velocity and Krisflyer were affected I would be happier if they had said "all programs".

 

[turnip666]

Qantas returning to OCt 31 rates confirmed on FB



Citi Australia Hi Lawrie, you will have seen already, however, the conversion rate for the two airline programs will be returned to the rate that applied at 31 October. Thanks.

Like · Reply · 1 hr





Lawrie Abbott thank you. Which two programs? There are three involved Velocity, Kris AND Qantas. Please confirm rates of conversion to QFF will also return to Oct 31 rates.
Like · Reply · 39 mins









Citi Australia Hi, Lawrie. Yes, all affected changes will return to 31 October conversion rates.

 

[Jacques Vert]

We did it!

I wish I complained for some free points instead of blasting them on social media. All's well that ends well!

I did ask for compensation as well that they honour the original transfer rate: Fat chance but I'll let you know.

Now would be a good time for Red Roo to make another of those special conversion offers!

 

[greeny923]

Who has the latest T&C's for this card? Is this it? How did they even think they could change it without notice based on these conditions?

citibank.com.au/global_docs/rewardspage/termsandconditions/pdf/MCG10972_2011-08_CitiBusiness_Rewards_Terms_and_Conditions.pdf

6.2 We reserve the right to vary these Terms andConditions from time to time. We will giveyou thirty days written notice if we decide tochange these Terms and Conditions.


12. Additional Conditions for Qantas FrequentFlyer Redemptions
12.3When Points are redeemed for Qantas FrequentFlyer Points they will be redeemed at a rate of 1Point for 1 Qantas Frequent Flyer Point.

 

[lmere12]

The conversion is back to as @ 31/10 so all my citibusiness gold points have been sent to QF

 

[turnip666]

Me too. Account empty. Now looking for an alternative. ANZ?