Citibank Qantas Rewards Program going to $2 = 1 point

[SIA1A]

Will also apply for a Signature card for the KF earn $1:1.33KF.

Are you sure? I think it might be the reciprocal - $1.33 for 1 KF mile (ie 0.75 KF miles per A$1 spend).

 

[cove]

Yes on Select you end up with 1.33 Kris Flyer points per domestic dollar spend and 3.33 points for international spend. The international fee is higher on the currency conversion so it feels like a net point per dollar of international spend.
Another AFF member says the Velocity points earn is 1.33 per domestic dollar spend.
I don't know about Asiana nor Velocity redemptions personally because we are happy with Singapore Airlines availability of redemption flights.
The two barriers are the proof of income to Citibank's satisfaction and the high redemption fees when doing the booking.

 

[SIA1A]

Yes on Select you end up with 1.33 Kris Flyer points per domestic dollar spend and 3.33 points for international spend.

Er, no actually.

We're talking about Signature, not Select. On Signature the earn rate is 1:1 (1 KF mile per A$ spent).

 

[Danger UXB]

The debate continues.....
In my T and C's for the signature ( also applies to select) it clearly states in chapter 3
Accumulation of citibank Qantas Rewards
13.1 $1(domestic or Internetional) =1Point signature or select
13.5 When points are redeemed 2Points = 1QFF point

As we know with the AMEX promos it always comes down to the T and Cs not what the flyers or telephone chicks say
The date on the above T and C is 09/11
Good luck all you QFFs I think your are in for a down grade!
Cheers Danger UXB

 

[BJReplay]

Got my new card last night (Free Silver - Gold - Platinum - Signature).

Warning in letter: "If you choose to remain on your current Platinum card, the earn rate will change to 1 point per $2 spent from 1 April 2012 as outlined in the enclosed Rewards Variation Notice".

Fine Print T&Cs on the right hand bottom corner state "The annual fee you wil pay on your new Signature card will be...$0.00 for the primary card and $0.00 for each secondary card". OK, good to see the actual fee in the letter.

Then, a bit further down: "From 1 March 2012, the Citibank Qantas Rewards Program earn rate will change to 1 point for every $2 spent." Not clear from the T&Cs if this for Platinum or Select or both.

That's OK, also enclosed were a notice of variation for rewards and an entire rewards T&C. The variation notice only applied to Platinum and lower, and said the earn rate was 0.5 points per $1. The T&Cs only applied to Signature and Select, and said the earn rate was 1 point per $1, but the redemption rate was 2 points = 1 QFF point.

Have to increase the credit limit on my Woolworths card now - it will be getting a work out.

 

[BJReplay]

I've figured that, even without a fee waive from the Woolworths rewards card, the fee for 1:1 earn with them is only $40 more than a free Citibank card (because Citibank charge $49 per year).

This is the nail in the coffin for Citibank for me - won't be keeping the free card, because won't be wanting to pay $49 for Qantas direct sweep.

 

[cove]

Currently it costs nothing to have Woolworths Everydayrewards credit card as an alternative for the first year.

 

[BJReplay]

Currently it costs nothing to have Woolworths Everydayrewards credit card as an alternative for the first year.

True, I was thinking more of ongoing costs - $89 per year after the first (assuming no fee waiver) vs $49 for direct earn (first year, and every year thereafter).

In fact, for two years, EDR is cheaper ($89 after the first year through to the end of the second) vs Citi 2 x $49 = $98.

But, cove, as the expert, where would you be moving

 

[cove]

For most readers/posters the Woolworths EDR MasterCard will work a treat.
Don't change out of Citi just yet but get your insurance in place with the free Woolies card that can include a card for a partner and 5,000 sign on points working off the one account.

 

[BJReplay]

...include a card for a partner...

Thanks. I checked out the woolies T&Cs and Fees this morning (no fee for second card), and I already have a card (and have received a sign on bonus), so just need to get the second card for Mrs.

Interestingly, I (primary card holder) would earn points for the spend on the card, but the Mrs would earn points for the scanning at woolies & associated businesses (have to supply secondary card holders FF number, which is associated with the scan for rewards component). Just means need to arrange the annual sweep via a QF family transfer of those bonus points to use for nice things like the big trips.

 

[cove]

BJReplay you are displaying my sense of fair play here.
Others would do a whole new card for a one year run to pick off 5,000 points for your partner as she would get a free QFF account in her name if she does not have one now.
I don't do that opening of a credit card for the first year bonuses but many do !

 

[BJReplay]

Yeah, cove, I'll admit, I've done that too, in the past. 5,000 points is better than a kick in the teeth, but is it worth the hassle of signing up for the card, then cancelling it down the track? I'm not convinced.

However, last year I signed the Mrs up for a CitiBank platinum in her name for the 60,000 points - that was enough to get us to the point which allowed us to book MEL-LHR...FCO-HKG-MEL in JASA next year, rather than YASA.

My best deal so far was a retention bonus of 80,000 points from Amex (3 for 1 for the first $40,000 on Amex Discovery) when I said I was going to close my Amex Premium, and wouldn't accept a Discovery for free - I told the CSA that I didn't want another credit card in my wallet that I wasn't using (becuse I had a 1.5 point per $ card I would use instead where Amex was accepted), so he said "would you accept it if we give you 3 for 1 for the first 40,000?" I said yes, and also got another 10,000 bonus points (2,500 first spend for each of me & mrs and 5,000 on first QF spend). So, that's around 120,000 points instead of 60,000 points, and that will allow us to waitlist for J to F MEL-LHR.

It's all a game; sometimes it's not worth playing when you take into account the cost of your time to play, but sometimes it is.

 

[cove]

3 points a dollar.....that is nice!
I really cannot truly beat that even with Citi Select Kris points at 3.33 per dollar on overseas purchases because the foreign exchange fee neutralises the possible benefit so I think your 40,000 at 3 was the winner.
Gee if Amex did that on my whole account it would take 3 years to use all the points!!

 

[Duffa]

Don't forget with Select and Signature you can have an additional cardholder at no extra cost AND you can allow the additional cardholder to redeem.
So, I got Mrs D a card with me as an
additional. When she gets her points I'll just redeem them in to my SQ account.
Saves having two accounts with not enough points in either.

 

[MEL_Traveller]

hi all

my apologies in advance for this total newbie post... I know absolutely nothing about credit card points... but am looking for some straightforward advice...

my sister just called, she has the citi-bank card and has just been told $2=1 point from April. I advised her to ring citi bank and ask for $1 = $1 point - with citi just picking up the tab... they refused saying it is Qantas that has halved the points (that is a quote from citi).

Anyways... what card should she now use? (from any financial institution)

She uses her card for business, 99% within australia for australian transactions.

Minumum spend per year is 240K (so needs to avoid a cap)

She cannot use AMEX/Diners etc (just not accepted in enough places and/or too high a surcharge).

She was collecting QF points, but always had difficulty using them for premium travel. She is happy to earn points for another airline program.

Is happy to take lesser known brands such as woolies credit card etc but I had a look at their site and couldnt see anything about capping.

I know there are pages and pages of discussion but I'm a little confused

With thanks in advance.

M-T

 

[Duffa]

hi all



Minumum spend per year is 240K (so needs to avoid a cap)

Is happy to take lesser known brands such as woolies credit card etc but I had a look at their site and couldnt see anything about capping.



M-T

Woolworths EDR is a point per dollar and uncapped. However she may struggle to get a $20k spend limit first up, even with her obviously high income.
She could switch to Citi Rewards and transfer in to Singapore at 1:1 for premium international travel, thus avoiding the need to reapply for credit cards etc.

 

[yo yo ma]

Also, anyone got any comments on the HSBC Platinum Qantas VISA? at the moment, that's $1 = 1 QFF for a $199 yearly fee.

I have got one... good if you are travelling overseas as it is 2 points / $. Also good for the 2 QC invitations but the $199 annual fee is up there. Just thought I would give it a go for a year.

 

[MAX_1]

However she may struggle to get a $20k spend limit first up, even with her obviously high income.

In my application I asked for a $30,000 limit. A copy of my tax return was requested, which I sent and my credit limit was set at $25K.

As my monthly spend is at least twice the limit , it becomes important to keep paying into the card regularly. For this I use a combination of Bpay which does not release the payment for 2 days and cash payments at Woolworths counter. As W/worths in next to my business it is easy to make cash payments.

 

[Stephen65]

The day the Citibusiness Gold card earns at $2 = 1 point is the day I cancel it.

 

[cove]

Citibank is now 5th behind the big 4 banks in card issuing/use so if they change the Qantas point earn rate there will be mobs of folks heading for the exit door all at the same time.