Citi cards - major changes

[burmans]

I have 1.3 million citi points - but it looks like I need to get them out of citi before the changeover. Looking for any advice on where to put them. I have no plans to travel soon so KrisFlyer is out as they would probably expire in 3 years. Thanks.

When is your annual fee due, this is what would determine when I'd get out, not the changeover date?

 

[Cynicor]

When is your annual fee due, this is what would determine when I'd get out, not the changeover date?

That's what I did. Annual fee paid early April, cancelled last week.

 

[albyd]

If your ultimate aim is to use your Citi points on SQ, then I think your choices are:
Transfer to VA now with 15% bonus offer = 2 Citi points = 1.15 VA that will transfer later to 0.85 KF @1:1.35; or
Keep your points at Citi (assuming the new earn rate offering makes sense to you and you can get a concession on your annual fee but transfer to KF at 2.5:1 = 0.8 SQ.
Not much of a difference in my opinion. If you're planning to jump ship before your next CC annual fee, now might be the time especially as VA transfer bonus is capped at 1 billion points (I don't know if that's just a marketing stunt and mightn't get anywhere near it or if it's a real possibility of being reached. May be something to consider in terms of timing. June 15 deval isn't too far away.
Either way, 15-20% deval if you wait.

 

[carls888]

I have 1.3 million citi points - but it looks like I need to get them out of citi before the changeover. Looking for any advice on where to put them. I have no plans to travel soon so KrisFlyer is out as they would probably expire in 3 years. Thanks.

Definitely transfer them to Velocity before the end of May to get the 15% deal. Depending on where you travel you can book SQ with Velocity points. At least they don't expire. We are travelling to Europe again next year so I moved ours to SQ.

 

[lovetravellingoz]

Definitely transfer them to Velocity before the end of May to get the 15% deal. Depending on where you travel you can book SQ with Velocity points. At least they don't expire. We are travelling to Europe again next year so I moved ours to SQ.

Just remember to have some activity every 12 months or so to keep your Velocity Account live or they will expire:

_Shop through Velocity Shopping Portal
_Transfer some FlyBuys Points over
_Move over some Credit Card Points
-etc

 

[bsdll]

When is your annual fee due, this is what would determine when I'd get out, not the changeover date?

The renewal was in April, and it's not discounted (fool me).

Thanks everyone for their replies, I only mentioned SA because it seems like the best rate. I'll look into Velocity, but I'm not a member yet and have no other cards.

What would be the best way to get signed up to Velocity (card / bonus points)?

It's hard letting go of a Citi card I've had for 20 years...

 

[Cynicor]

Mine was in April too, and I just got a full fee refund.

 

[carls888]

It's hard letting go of a Citi card I've had for 20 years...

Me too. Been with citibank for 23 years, but I am not going to cancel just yet as all the other options seem to be reshuffling their offers too.

It's a waiting game...

 

[rgalbr10]

Cancelled my Prestigue card today, in the end the double whammy of changes to earn (particularly overseas transactions) and redemption (2.5>1 KrisFlyer) without a change to the annual fee was it. I was offered the usual 50% off of the annual fee, but this has been standard for me in the last few years. Luckily time for another credit card sign up with Amex, but no real consolation.

 

[albyd]

Sadly called Citi just now. Offered 5000 points to keep the card. No fee discounts or any other incentives. I don't really utilize the other 'perks' to justify the annual fee without the rewards points. Going to move to the $0 Simplicity card after June 15 it'll go in the bottom drawer.
Will wait to see what issuers outside of the. If 4 banks announce before deciding on my go to Visa/MC post June.
Citi RIP. Life goes on. Annual fee savings will
Cover half my Amex Platinum Charge annual fee

 

[mickto]

Management would have already done projections on the numbers that will cancel, and accounted for it in their costings.

In normal circumstances you would think the "management" has done their homework. To me their action is suicidal because everyone I know who has this card won't renew.

I wish to know if anyone has any reason to keep this card when annual fee is due (apart from the Stay 4 Pay 3 deal). Maybe I am missing something.

 

[Cruiser Elite]

I have no intention of cancelling ATPIT. I have not paid an Ann fee since year dot - but even if I did have to stump up with the $700 the Stay4/Pay3 prom in itself would keep me - throw in couple airport transfers and a few other little things - will also be very interesting to see Citi's reaction if indeed we witness masses fleeing this Card.

 

[ermen]

Wait and see game for the moment too. What will kill it is the lower earn for overseas spend, and the lower redemption rates double whammy. Used to put through all my overseas spend on this card.
I have been paying 50% for the past few years to
Dont really need the perks as I have a prestige here too in HKG.
But if i cancel, I wont have an australian visa / mc anymore

 

[Jack_OC]

Does anyone know what exactly Citi means by " major national retailers" in their new tiered earning criteria? I can't find a clear definition or a list of retailers anywhere.

FWIW, I have Signature fee free for life, and I got my Prestige fee waived for this year (not due again until December), so I will be retaining both cards for now.

 

[RAM]

Does anyone know what exactly Citi means by " major national retailers" in their new tiered earning criteria? I can't find a clear definition or a list of retailers anywhere.

FWIW, I have Signature fee free for life, and I got my Prestige fee waived for this year (not due again until December), so I will be retaining both cards for now.

I had been wondering when the next "Fee-free" for life offer was going to happen as it has been a LONG time between treats.

The announcement of these changes to points earning etc - saw my heart sink as I had promised to alert a number of friends when it came by again...

I wonder how much longer the Priority Pass will be bundled with the Signature cc?

BTW - has anyone had issues with the annual renewal? Had fun late last year with card arriving after trip started.

 

[theblank]

Does anyone know what exactly Citi means by " major national retailers" in their new tiered earning criteria? I can't find a clear definition or a list of retailers anywhere.

I have seen that detailed description somewhere, and no its was not a list. But I am pretty sure its fairly easy to figure out who is and who isnt. Harvey Norman is, Bubbles Baths in the valley, isnt.

 

[FrankC]

I have seen that detailed description somewhere, and no its was not a list. But I am pretty sure its fairly easy to figure out who is and who isnt. Harvey Norman is, Bubbles Baths in the valley, isnt.

The problem would be those in the middle, like Bing Lee - they are big in NSW, but certainly not national, so it is not a major national retailer?
Or Ikea, they are in most states, but are they major?

 

[Jack_OC]

I have seen that detailed description somewhere, and no its was not a list. But I am pretty sure its fairly easy to figure out who is and who isnt. Harvey Norman is, Bubbles Baths in the valley, isnt.

The problem would be those in the middle, like Bing Lee - they are big in NSW, but certainly not national, so it is not a major national retailer?
Or Ikea, they are in most states, but are they major?

Yeah, that's my concern Frank. And since Citi doesn't provide an itemised rewards point statement (unlike AMEX & Westpac), it can be very difficult to work out even by trial and error if you use the card a lot

Having said that, I think most of the retailers that clearly meet the "major national" criterion also accept AMEX, so I will probably just relegate Citi cards to the last resort, in which case I will probably be looking at 0.4 pts/$ wherever I use them.

 

[hummel]

Just been on the phone to Citibank tonight wanting to cancel my Citibank Signature ($0 balance on it)

Am on fee-free for life and have been with them for maybe 6 years.

I tried to get them to upgrade me to the Citibank Prestige with no income requirement but no go.

I did however get a bonus of .5pts on spend all around till October 31st. I'll have a think about it and see - Honestly if they just had apple pay I'd probably be happy to keep it!

 

[theblank]

Just been on the phone to Citibank tonight wanting to cancel my Citibank Signature ($0 balance on it)
Am on fee-free for life and have been with them for maybe 6 years.

why would you want to cancel it?
Its the best Visa card you can get for $0 pa, (and then some) and you wont get it again.