Citi Select (post March 2013) - ? worth $700 annual fee

[legroom]

You stopped using Select period? Or you stopped using Select wherever Westpac SQ Amex card is accepted?

I stopped using Select wherever Westpac SQ Amex card is accepted

Despite that, the Select still runs up a 5-figure sum last month

I may have to add up to see if it justifies the $700 though.

Like Jack3193, I feel that the Select "value" has been enhanced away to the point where some of us starts to wonder.

 

[legroom]

I called up to arrange for the free hotel stay (DOM this time - MEL).

Max value is now set at $237.00

Anything else more than that, you have to pay for.

Well, the citibank website does not say that at all.


One Complimentary Hotel Stay[SUP]1[/SUP]

Enjoy one complimentary night accommodation per year, at your hotel of choice from a range of over 50 premium hotels worldwide. Use the complimentary night on it's own or as part of a longer stay at your selected hotel.


It is rather an underwhelming experience for a supposedly premium card.

Sorry, Citibank !

You are doing well to alienate me.

EDIT: Stayed in Paris last year, totally free for a 4* hotel

 

[aschmid]

I tried to book this free hotel room a couple of days ago but was not successful as the Citi call centre rep simply didn't know what I was talking about. It took me 15 min to explain to him what the complimentary hotel room stay of the Select card was - he had no idea and put me on hold for over 5 min to check it out - that's when I hang up.

Nice card, good features, but of what use are they if you can't use them because the call centre staff is not trained and only understands half of what you're saying?

 

[ermen]

I tried to book this free hotel room a couple of days ago but was not successful as the Citi call centre rep simply didn't know what I was talking about. It took me 15 min to explain to him what the complimentary hotel room stay of the Select card was - he had no idea and put me on hold for over 5 min to check it out - that's when I hang up.

Nice card, good features, but of what use are they if you can't use them because the call centre staff is not trained and only understands half of what you're saying?

you called the wrong centre. Its handled by the Citibank Travel Program (travelpoint) and not the citi call centre.
that said, did you call the special citi select call centre? They are pretty knowledgeable about this benefit...

 

[legroom]

I tried to book this free hotel room a couple of days ago but was not successful as the Citi call centre rep simply didn't know what I was talking about. It took me 15 min to explain to him what the complimentary hotel room stay of the Select card was - he had no idea and put me on hold for over 5 min to check it out - that's when I hang up.

Nice card, good features, but of what use are they if you can't use them because the call centre staff is not trained and only understands half of what you're saying?

Friend

The number is 1300-144-920

Make sure you have a speakerphone and a cup of something.

The wait is long !

 

[aschmid]

you called the wrong centre. Its handled by the Citibank Travel Program (travelpoint) and not the citi call centre.
that said, did you call the special citi select call centre? They are pretty knowledgeable about this benefit...

I called the number on the back of my Select card. Don't know anything about any other number. Shouldn't they be able to route me to the correct people?

 

[aschmid]

Friend

The number is 1300-144-920

Make sure you have a speakerphone and a cup of something.

The wait is long !

Interesting. That's not the number that is on the back of my card. Where did you get this number from and how is this different to the Select card number?

 

[ermen]

The number on the back of your card is the Citi Select number - I am surprised that the agent on the other end did not know about this offer (last time I called, the consultant was all over the offer)

The 1300 144 920 number is the Citi Travel program. You are told to call this number to book the hotel. Its in the advertising materiels for Citi. Again, no excuse for the Citi consultant not to know about this!

 

[Cruiser Elite]

Any AFF members holding Australian Passport currently living and working o/s and using Aust issued Select for vast majority of their CC purchases thus harvesting 3.33pts/$1 spend?

If YES - how long you been doing so? Ever been questioned by Citi Aust? What % of your annual total spend is o/s and what % spend on Aust purchases please?

 

[TtiGeR]

Any AFF members holding Australian Passport currently living and working o/s and using Aust issued Select for vast majority of their CC purchases thus harvesting 3.33pts/$1 spend?

If YES - how long you been doing so? Ever been questioned by Citi Aust? What % of your annual total spend is o/s and what % spend on Aust purchases please?

Remember there is a foreign exchange fee of 3.3%... I doubt Citi would question at all.

 

[Cruiser Elite]

Remember there is a foreign exchange fee of 3.3%... I doubt Citi would question at all.

Yes but effectively 3.3 KF pts / $1 = 1% - the question has been asked of me by a niece who has landed a high paying job in the oil industry in Houston and won a green card in the ballot - I don't want to send her down the wrong path if Citi cut her off at the socks in a month or 2.

 

[legroom]

Remember there is a foreign exchange fee of 3.3%... I doubt Citi would question at all.

If I were in that position, I would ignore the exchange rate issue as the earn rate is exceptional.

Provided Citi plays its part of course !

$70,000 spend = 210,000 KF points (round numbers) = SYD CDG F return

Costs you say $2100 in fees.

Worth it to me !

 

[k3nnis]

That will take me 1.5 years to spend

If I were in that position, I would ignore the exchange rate issue as the earn rate is exceptional.

Provided Citi plays its part of course !

$70,000 spend = 210,000 KF points (round numbers) = SYD CDG F return

Costs you say $2100 in fees.

Worth it to me !

 

[Jack_OC]

If I were in that position, I would ignore the exchange rate issue as the earn rate is exceptional.

Provided Citi plays its part of course !

$70,000 spend = 210,000 KF points (round numbers) = SYD CDG F return

Costs you say $2100 in fees.

Worth it to me !

It might not be that simple. Assuming the person is going to be paid in USD, then unless they have a large pot of savings (or some other income) in Australia, they will be hit twice. Every transaction will be converted into AUD by Citi and then every month there is a bill to pay, which means cash will have to be transferred from a US bank account in USD, to an Aussie bank account in AUD. The initial credit card transaction will definitely incur a fee (3.3%). The transfers from the US bank account to the AU bank account will probably incur fees, or alternatively the banks will make money by using very unfavourable exchange rates (effectively the same thing as a fee). In some cases banks will do both, meaning you really get shafted, and this is especially the case if you’re transferring relatively small amounts (you can get much better rates through fx brokers if you transfer large amounts, e.g. $20k+, but highly unlikely you would be doing that each month to pay your credit card bill).

There is also a risk of losing out due to exchange rate fluctuations between the time when you make a purchase and when you pay the bill. This is a particular issue if you make a large purchase near the start of the billing cycle. For example, spend USD$5k today in the US, and approx AUD$4850 will be added to your bill. But if the AUD suddenly strengthens further vs the USD, say back to AUD$1 = USD$1.10, then it will cost you USD$5,320 to pay off the purchase you made a few weeks ago for USD$5k. This could also work in reverse of course, meaning you could gain, but basically you’re just blindly gambling on fx rates every time you use your card. This is not really an issue if your income is in the same currency as your credit card account.

You also need to factor in the AUD$700 fee for the Citi Select card in the first place (assuming the person in question doesn’t already have one, which is the impression I get). Also, it’s possible to get credit cards with decent rewards and benefits in the US for much lower fees than here.

Generally speaking, if you’re moving to a new country for a significant period of time, it’s safer and a lot less stressful to bank solely in the currency of that country while you’re there. Obviously it’s different if you’re just going on holiday or a short stint working abroad.

 

[Cynicor]

Also, in my experience with the citi cards, the fees seem to work out at ~3.5-4%. I'm always gouged more than I expect to be, so I just use the 28 degrees overseas.

 

[ermen]

Also, in my experience with the citi cards, the fees seem to work out at ~3.5-4%. I'm always gouged more than I expect to be, so I just use the 28 degrees overseas.

Actually fees are 3.3% and broken down item by item so quite easy to check.

 

[ermen]

Yes but effectively 3.3 KF pts / $1 = 1% - the question has been asked of me by a niece who has landed a high paying job in the oil industry in Houston and won a green card in the ballot - I don't want to send her down the wrong path if Citi cut her off at the socks in a month or 2.

Works out roughly 1c a point for foreign purchases. Ie. $1000 foreign spend will net 3333.33 KF points and cost $33

As a Green Card holder does it mean she is subject to US global taxation in future? Ouch!

 

[Cruiser Elite]

As a Green Card holder does it mean she is subject to US global taxation in future? Ouch!

No idea mate.

 

[legroom]

It might not be that simple. Assuming the person is going to be paid in USD, then unless they have a large pot of savings (or some other income) in Australia, they will be hit twice. Every transaction will be converted into AUD by Citi and then every month there is a bill to pay, which means cash will have to be transferred from a US bank account in USD, to an Aussie bank account in AUD. The initial credit card transaction will definitely incur a fee (3.3%). The transfers from the US bank account to the AU bank account will probably incur fees, or alternatively the banks will make money by using very unfavourable exchange rates (effectively the same thing as a fee). In some cases banks will do both, meaning you really get shafted, and this is especially the case if you’re transferring relatively small amounts (you can get much better rates through fx brokers if you transfer large amounts, e.g. $20k+, but highly unlikely you would be doing that each month to pay your credit card bill).

There is also a risk of losing out due to exchange rate fluctuations between the time when you make a purchase and when you pay the bill. This is a particular issue if you make a large purchase near the start of the billing cycle. For example, spend USD$5k today in the US, and approx AUD$4850 will be added to your bill. But if the AUD suddenly strengthens further vs the USD, say back to AUD$1 = USD$1.10, then it will cost you USD$5,320 to pay off the purchase you made a few weeks ago for USD$5k. This could also work in reverse of course, meaning you could gain, but basically you’re just blindly gambling on fx rates every time you use your card. This is not really an issue if your income is in the same currency as your credit card account.

You also need to factor in the AUD$700 fee for the Citi Select card in the first place (assuming the person in question doesn’t already have one, which is the impression I get). Also, it’s possible to get credit cards with decent rewards and benefits in the US for much lower fees than here.

Generally speaking, if you’re moving to a new country for a significant period of time, it’s safer and a lot less stressful to bank solely in the currency of that country while you’re there. Obviously it’s different if you’re just going on holiday or a short stint working abroad.

Jack

You could be my honorary accountant !

 

[Jack_OC]

Works out roughly 1c a point for foreign purchases. Ie. $1000 foreign spend will net 3333.33 KF points and cost $33

That's assuming she can pay all the bills in AUD without needing to transfer any of her USD income back here. Otherwise, the points could easily cost her 2 or 3 times that much, see above. This is definitely one of those questions that needs to be considered based on individual circumstances.

As a Green Card holder does it mean she is subject to US global taxation in future? Ouch!

No, that only applies to US citizens.