Annual fee increase from $99 to $300 on Citi Premier

[EddieJ]

Hi all

My first post *however joined a while back.

Just received an email from Citi/NAB advising of a annual fee increase as in title above. Seems many institutions are looking at recouping grandfathered fee free or **fixed fee for life CC’s.

I’ve had the card since 1989 and now occasionally use the card, emergency use only and 99$ per year was a cost benefit advantage to me. Now that I hardly use the card - a 201$ increase *albeit in June 2025 is another catalyst, jumped ship from 28* in August.

The 579,791 Rewards points I’ll most likely convert to Virgin Australia.


So should I convert to Citi Simplicity?

 

[Mattg]

Welcome to posting.

Which card is this for?

 

[EddieJ]

Welcome to posting.

Which card is this for?

Thanks for your response.
Citi Premier MC

 

[lowan74]

I received the same notification yesterday, however mine went from $149 to $300. It had been $149 since it was a Citibusiness Gold Card, which then auto-converted to a Citi Signature card around 2014, and then later auto-converted to a Citi Premier Card a few years ago.

Somewhat disappointing, particularly with the recent change of interest free days from 55 to 44. Almost looks like they want people to ditch these cards..

 

[EddieJ]

Yeap.
Not sure which way to go. The card has served me well over the years however, it’s not worth the 201$ increase with diminishing returns. I have a substantial credit limit which I’d like to retain. Will look at converting/downgrading to the Citi Simplicity, fee free.
No frills, but still get Purchase Protection Insurance and Extended Warranty Insurance.

I have until June 2025 before the new fee is charged.