Citi launching new Signature card

[Stephen65]

This card costs about the same as an Amex platinum charge and this is what I see as the major differences:

- Amex gives you 1.5 FF points per $1, this one only gives you 1

- Amex seems to have better travel insurance, in particular, does not require you to buy your tickets using the card but always covers you

- Amex has rental car excess cover

- Amex is effectively capped at $300,000 spend, this one is unlimited

- This card is a Visa and so will have wider acceptance than the Amex

The potential attractiveness of this card seems to me to be for people who are going to have a very large Visa spend, more than can be covered on other cheaper Visa cards that offer 1 point per dollar. Otherwise I think a combination of a Visa and Amex will be more effective to maximise points.

 

[Flight777]

I think the value of the citibank take flight is being overlooked here. For 53,475 citi rewards points (plus taxes) I can book a MEL-SIN economy return via SIA. This equals $26,737 spend on the citi selct card with trasnfer rate of 1:2.

If i were to book this same flight via krisflyer points it would be 46750 points (plus taxes). So creditcard spend to get this many points on an Amex (1:1.5 ratio ) is $31,000.

Under this scenario the Citbank take flight is far better value. Granted citibank takeflight is only good value for economy travel, put for those of us who mostly travel economy then its great.

 

[Jeffrey O'Neill]

I highlighted this issue for VA flights as well.

Since most CB cards give .66 Velocity points / reward point it seemed to be better value to use the take flight option, and then you could also earn points and status credits on the flight.

I suppose in some ways this works for all airlines in the take flight system.

Certainly worth thinking about in the future.

 

[trippin_the_rift]

You can use citibank takeflight with a Platinum card...

Also note that using QF points the total fee is $749 ($49 QF transfer fee).

And if you're playing the game right, citibank platinum card has no points limit at 1:1 already.

Finally, if points are a big deal to you (they would need to be if you're paying $700 for the privledge), chances are you fly a lot as it is and have status with the airlines you need them with. That -- AND you no doubt have a Platinum amex already with free PP and SPG Gold.

I fail to see the value in such a high fee.

 

[ZeroPoint]

Umm.. am I missing something?

Everyone is bagging this card, but at first glance, I think this card is not too bad.

Sure, the annual fee is high at $700, but no higher than an Amex Platinum charge card at $900.

With unlimited earn and 1:1 conversion to many airline frequent flyer programs, it's like having a Visa version of an Amex card.
With a Visa card however, there is the added bonus of it being accepted by more merchants than Amex. Therefore, it's easier to earn points!

I for one, may even consider giving up my free-for-life Platinum Visa with it's pissy 150K points cap, for the new Signature card.

As I stated previously, am I missing something?

MrSpokeyTokey

I'd try and keep the platinum card and have the signature card alongside. I tried calling up and see if they had any promotions but the guy on the phone said even though it was available on the website, no one could signup

 

[ZeroPoint]

You can use citibank takeflight with a Platinum card...

And if you're playing the game right, citibank platinum card has no points limit at 1:1 already.

Could you elaborate on how get no points limit with the platinum card please??

 

[oz_mark]

I'd try and keep the platinum card and have the signature card alongside. I tried calling up and see if they had any promotions but the guy on the phone said even though it was available on the website, no one could signup

There was an advertisment in The Age this morning for the card, so, one would hope they had some sign-up mechanism. The advertised URL was citibank.com.au/gw

 

[Foreigner]

This card costs about the same as an Amex platinum charge and this is what I see as the major differences:

- Amex gives you 1.5 FF points per $1, this one only gives you 1

- Amex seems to have better travel insurance, in particular, does not require you to buy your tickets using the card but always covers you

- Amex has rental car excess cover

- Amex is effectively capped at $300,000 spend, this one is unlimited

- This card is a Visa and so will have wider acceptance than the Amex

The potential attractiveness of this card seems to me to be for people who are going to have a very large Visa spend, more than can be covered on other cheaper Visa cards that offer 1 point per dollar. Otherwise I think a combination of a Visa and Amex will be more effective to maximise points.

One other point of difference noticed in the Citi fine print T&C:

4. One complimentary Priority Pass membership for the primary card holder is a Special Feature of the Citi Selec Credit Cardt. The primary cardholder is entitled to unlimited visits to Priority Pass lounges and may bring one guest per visit. Any additional guests will be charged directly by the lounge.

As far as I am aware, the Priority Pass through AMEX platinum requires guests to pay whereas my reading of above is that payment is required for 2nd + guest. Hope I am not misreading.

 

[coolsteps]

i wonder if they will waive the annual fee if you are a citigold member like they do with the platium card for citigold members?

btw how does one apply to become a citigold member? i thought if you have over 100k in loans or invested with CB you get it automatically but someone emailed me saying its only by invitation.

 

[trippin_the_rift]

i wonder if they will waive the annual fee if you are a citigold member like they do with the platium card for citigold members?

btw how does one apply to become a citigold member? i thought if you have over 100k in loans or invested with CB you get it automatically but someone emailed me saying its only by invitation.

100k+ in cash invested with them. It's similar to other private banks. Just call them up and say you have excess cash and want to try citigold.

 

[drron]

Was just over at FT and a thread on the HH visa signature card caught my eye.
Hilton HHonors Citi Card
Fee free.

 

[gibspmuh]

Was just over at FT and a thread on the HH visa signature card caught my eye.
Hilton HHonors Citi Card
Fee free.

Ahhhhh, to be in the US, the land of rewarding credit cards!

 

[Foreigner]

I wouldnt know what the take up is on this card but it would certainly attract more interest if they gave away 20000 or 30000 points as incentive...somewhat like Westpac / Krisflyer in Australia or SPG / AMEX in the US.

 

[crowman28]

I wouldnt know what the take up is on this card but it would certainly attract more interest if they gave away 20000 or 30000 points as incentive...somewhat like Westpac / Krisflyer in Australia or SPG / AMEX in the US.

Whatever freebie they are willing to throw in now, you will have to pay well over $700 annual fee, that is inexcusable!

Doubt they will get much business with this card.

 

[Foreigner]

Whatever freebie they are willing to throw in now, you will have to pay well over $700 annual fee, that is inexcusable!

Doubt they will get much business with this card.

If customers see value, they may consider signing up on the card. One plus is that of Priority Pass, with cardholder and one guest fee-free. With Priority Pass attached to Amex platinum chargecard, only cardholder gets privilege but guests pay (@ about USD32 each, if I recall).

Westpac / SQ had up to 20000 points, 50% off fee for first year, both AMEX and Visa cards so that made is attractive for me.

 

[crowman28]

If customers see value, they may consider signing up on the card. One plus is that of Priority Pass, with cardholder and one guest fee-free. With Priority Pass attached to Amex platinum chargecard, only cardholder gets privilege but guests pay (@ about USD32 each, if I recall).

Westpac / SQ had up to 20000 points, 50% off fee for first year, both AMEX and Visa cards so that made is attractive for me.

The Priority Pass thing is useful if you travel regularly a year. If I only accumualate points and travel once or twice a year, then it may not be that useful.

The SQ points conversion is 1 dollar per mile for this card, so that is not attractive at all. Heard someone said earlier Citigroup was thinking of offering 1.33 miles per dollar on SQ for the VISA? Then thats a different story.

They need to justify that massive annual fee by offering a much higher points earn I feel (compared to Westpac Kris Flyer card).

Cheers

 

[oz_mark]

If customers see value, they may consider signing up on the card. One plus is that of Priority Pass, with cardholder and one guest fee-free. With Priority Pass attached to Amex platinum chargecard, only cardholder gets privilege but guests pay (@ about USD32 each, if I recall).

I know Citibank make this claim, but is there actually a Priority Pass level that provides this benefit? Or is it a non-standard level?

 

[Foreigner]

The Priority Pass thing is useful if you travel regularly a year. If I only accumualate points and travel once or twice a year, then it may not be that useful.

That's true.

 

[Stephen65]

The SQ points conversion is 1 dollar per mile for this card, so that is not attractive at all. Heard someone said earlier Citigroup was thinking of offering 1.33 miles per dollar on SQ for the VISA? Then thats a different story.

They need to justify that massive annual fee by offering a much higher points earn I feel (compared to Westpac Kris Flyer card).

Cheers

That's my feeling too. I was waiting for this card to arrive so I could decide between it and the Amex Platinum charge. I ended up applying for the Amex.

 

[ZeroPoint]

The SQ points conversion is 1 dollar per mile for this card, so that is not attractive at all. Heard someone said earlier Citigroup was thinking of offering 1.33 miles per dollar on SQ for the VISA? Then thats a different story.

Cheers

From my calculations it's $1 = 1.33 KF points

$1 AUD = 2 CitiRewards (CR)
1.5 CR = 1 KF

so
$0.5 AUD = 1 CR = 0.667 KF
so
$1 AUD = 2 CR = 1.33