Citibank to Exit Australian Retail Banking

[http_x92]

Interesting to see the Citi Premier back up for applications with a $150 first year offer this time even though the potential sale is going on...

 

[Lynda2475]

And i received a new citibank debit card in mail today.

 

[burmans]

Also wondering what would happen to the Qantas Money (now issued by citi and has the best QF points per dollar rates for a Visa/MC) and the Citi Signature free for life card with this situation now (an Australian favourite)... wonder if the potential buyer would allow the existing users to keep these cards.

Of course they will, any purchaser is primarily buying customers. Of course some features of the cards may change. Less likely for the Qantas Money card though.

 

[oz_mark]

Of course they will, any purchaser is primarily buying customers. Of course some features of the cards may change. Less likely for the Qantas Money card though.

Although, it is possible that Qantas has a clause that could let them move to a different issuer altogether

 

[petef]

I've still got a Citibank VISA cashback card. It gives me 1% back on all purchases.

I use it for bills and places where I spend over $100 (otherwise I use the HSBC 2%).

It was discontinued for sale maybe a decade ago.

Only $79 per year.

I hope it continues on.

 

[burmans]

Although, it is possible that Qantas has a clause that could let them move to a different issuer altogether

Agree, which is why I think its less likely they would change it. Qantas do have some leverage over this particular card.

 

[perthtraveller]

What's everyone doing with your current points balances (if you have one)?

 

[Chicken]

What's everyone doing with your current points balances (if you have one)?

Accumulating within Citi, waiting for the time when I could transfer to and fly SQ ......

 

[AIRwin]

Citi will also cease being the issuer of Virgin Saver accounts and any accounts will be closed on 1 June 2021.

I've lost my Virgin... Saver account now that it has been closed overnight and the balance transferred to another bank.

 

[Kangol]

Noticed they have the Citi Premier Qantas on offer with a 75k bonus, $4k minimum spend, $175 annual fee (normally $350) until 31 August 2021.

Citi Premier Qantas Credit Card - Citi Australia

Our Citi Premier Qantas credit card comes with a bonus Qantas Points offer. Find out more and apply today.

www1.citibank.com.au

If they had a $0 annual fee version again, I'd go for it!

 

[http_x92]

I signed up for the new Citi Premier Qantas 75k offer... got the bonus points. 1 QFF point per dollar potentially + Diners Club + Citi Payall 0% until October... is great.

 

[moa999]

And per the AFR.
The winner is NAB.

Paying $1.2bn for the consumer business
(Includes $12.2bn in loans, $9bn in deposits and the credit card portfolio)

 

[Chicken]

And per the AFR.
The winner is NAB.

Paying $1.2bn for the consumer business
(Includes $12.2bn in loans, $9bn in deposits and the credit card portfolio)

Yeah, there was ASX announcement last week.

But not so fast, ACCC may test this in court.

 

[QF_Flyer]

And per the AFR.
The winner is NAB.

Paying $1.2bn for the consumer business
(Includes $12.2bn in loans, $9bn in deposits and the credit card portfolio)

Interesting. Wonder whether to churn as many Citicards as possible now.