CB Rewards Platinum 2:1 VA, SQ KF / VA now [was 15K:10K]

[asterix]

Surprised to receive a letter out of the blue upgrading me for free to the Signature card from Platinum. Maybe they noticed that I haven't been using the Platinum card since the change. I did not call them or anything, the card just came, and I just had to call to redeem this upgrade.

I had to resort to Facebook to get an Australia CSR to contact me. The best they could offer me was an apology and 5000 points, however they said Citibank was well within their rights to change the points requirements as the T & Cs say they can change the points value of rewards at any point. I'm still hoping for an upgrade from Platinum to Signature, but I not holding my breath.

 

[Spizz]

orin- Go for it and they may lock in the yearly fee for you to Just make sure that any purchases you make between the cancellation of your Plaitnum Card and your arrival of your Signature Card you get the points for those purchases.

Received my statement which had the cessation of one card on there and the continuation of the Signature card on there for with my purchases listed underneath each of them. Only problem is when I reconciled the Statement and went to match up the points on my statement to what I should have received I noticed that I wasn't given points for my old card purchases on the statement. After an hour on the phone with the CSR whom assured me it was correct, when it was blatantly obvious in black and white on my Citi Statement that it wasn't I asked for a Supervisor. Long story short she eventually confirmed I was correct and that it was a one off transition error and she would make sure my points were there with 24 hours.

They did appear in 24 hours. So check you first statement with the Signature card to make sure you have received all the points on that statement.

 

[orin]

It wasn't an offer, they literally just sent me a Signature card without me asking for it and stated that the annual fee will remain the same as Platinum.

I had to call up to accept the offer and activate the card.

After activation they told me that the old Platinum card will no longer work. I have used the new Signature card over the weekend, and then I tried to make a purchase with the Platinum card today and it still works... Have they done something wrong in their system and should I call them up to see what is happening?

 

[carwashhair]

As a data point, closed my Platinum rewards card yesterday just shy of a one year anniversary. When asked why, I stated the devaluing of the rewards program without warning (luckily, I transferred all points out to Velocity about a week before the devaluing hit). They were very quick to offer another year with plat fee ($199) waived. I still asked for the account to be closed. Thought this might be useful for others as an example.

 

[hummel]

Spoke to Citibank yesterday about cancelling/upgrading my Platinum card due to the points changes, was told it was a business decision between Citi and Krisflyer/Velocity.

Only offer I could get was balance transfer if applicable. I asked about upgrading to the Signature card and didn't get very far, I did however get quoted $395 annual fee. I couldn't be bothered pointing out the website states $199 for the first year.

I think I'll call back again today and hope for someone else.

 

[dajop]

Just read this thread, I don't have this specific card, but some relatives do and will be disappointed with this. I am thinking of cancelling all my cards with Citibank (EK card in Australia and the cards I have in Singapore), because it appears with the sudden changes (eg this and points earn on ATO changing without notice) that they are one organisation that simply cannot be trusted. I wouldn't even advise to the relatives to move up to the signature card, as who knows what will happen in the future with that.

It reminds of when Westpac Altitude Visa earning changed from 1:1 to 2:1 ..... plenty of notice was given and points earnt prior to change were preserverd at previous transfer rate. More ethical and more customer friendly.

 

[zzyss]

Looks like no dice with the ACCC on this one:

Since 2002 there has been in a change in the legislation the ACCC administers. The Australian Consumer Law does not apply to financial products or services. You may be able to take this matter to the Australian Securities and Investments Commission (ASIC) as they have jurisdiction over consumer protection for financial products or services. ASIC can be contacted on 1300 300 630.

You may also be able to contact the Financial Ombudsman Service (FOS) about this matter. The FOS can get involved in individual disputes between consumers and financial service providers. The FOS can be contacted on 1300 780 808.​

I've never dealt with ASIC or the FOS before...
​

 

[Cruiser Elite]

I've never dealt with ASIC or the FOS before...

Nor have I - and whilst I am not affected here I did post this in Post #25 on May 2:

A question that needs to be asked and answered by those affected.

If the answer is no would hope that Citi compensate in first instance and if not hope some of you guys will head off to Financial Ombudsman Service – Financial Ombudsman Service (FOS)

Changing transfer rate on points previously earned without notice is just not acceptable.

You never know - it might only take 1 AFFer who has suffered conversion loss to gain a favourable response from FOS for a snowball effect to take place. I know damn sure if I was affected I would have been on the blower to them quick smart.

 

[DeKa]

Just so some of you know I pushed the point with Citi and had an outcome I was very happy with. It took 4 weeks though.

My recommendation is when you call, they tend to close the call with 'did I resolve everything for you today?'. Say no, and ask for it to be escalated. If you are friendly and polite, they will be too, and I suspect you may be pleasantly surprised.