Credit cards that provide reward points on balance transfers

[shyguy]

As the ability to gain QFF points via the AMP CC balance transfer is now removed with the take over by AMEX, does anybody know of or use another card that provides reward points for balance transfers? :evil:

 

[kristo]

Citibank will give reward points for balance transfers but only once every couple of years.

 

[oz_mark]

I don't think in about 10 years or so, Citibank have ever made such an offer to me....

 

[shillard]

I don't think in about 10 years or so, Citibank have ever made such an offer to me....

There is such an offer for new card members - on now.

 

[oz_mark]

I have always wondered why new customers get better deals than existing customers. After all basic marketing courses will tell you about how expesive it is to get a new customer vs retaining a customer.

Banks then go on with all sorts of deals about attracting new customers while they go about stitching up their existing customers.

It's like for the first six months you get this low interest rate, but since you become a more risky proposition after six months you can pay double in interest rates.

 

[QF WP]

It's about knowing what is on offer...a quick ring to your CC provider or surfing their web site will probably give you the answers to your questions. Citibank Plat Visa will allow balance transfers whenever...I've simply rung them to ask for a form, then completed and sent off. Never had them refuse to send a form to me either.

I would think some CC providers want you to transfer balances but they don't overtly market them...

 

[shillard]

It's about knowing what is on offer...a quick ring to your CC provider or surfing their web site will probably give you the answers to your questions. Citibank Plat Visa will allow balance transfers whenever...I've simply rung them to ask for a form, then completed and sent off. Never had them refuse to send a form to me either.

I would think some CC providers want you to transfer balances but they don't overtly market them...

Citibank Platinum are offering dbl points for new members making balance transfers - a perk I will take full advantage of when my new CB Plat card arrives in the mail.

 

[Rick93]

Do any of you 'experienced' guys (in credit cards) know of this stunt Citibank have hit me with.......
The current promotion (webpage) states, new card holders will only pay 6.9%pa interest for the first 9 months. The usual deal with Citibank, is that if a 'sponsor' refers you to Citibank, and you sucessfully acquire a credit card, then BOTH of you get either 5,000 or 10,000 reward points.....
Well, Citibank have issued my card on an interest rate of the full 17.95%pa. I still haven't got the points in my account as yet. I rang them, and they said..... you only get ONE OR THE OTHER.... not both!!!
I can't find any reference to only one or the other in their promotional material or their webpage........ after 2 weeks, they still haven't responded to my 'complaint'.
IS THIS FAIR??? Anybody?

ripped off, yet again.....

 

[QF WP]

Gordon, I suppose a lot depends on what were the terms & conditions when you applied for your card, compared with the current offer. That's hard for us to tell through the internet.

The points issue is easy - you're both eligible for 5K points. Here's the T&C's from the website:

"Earn 5,000 bonus Rewards points by introducing a friend or family member to a Citibank Credit Card. If you're a Platinum Cardholder and introduce a new Platinum Cardholder, the bonus is even greater with 10,000 Rewards points."

As with other offers, sometimes a second call might yield different information from the Call Centre. That might clarify the situation. If not, then see whether you can reverse your choice - but based on your personal situation, you need to decide whether 5K points now with full interest rate (55 days free) is better or worse than 6.9% for 9 months (ie. how many can you earn in that 9 months and repay least amount of interest on your purchases).

 

[Rick93]

Yes, TERMS AND CONDITIONS is the angle I'm approaching Citibank with...... it just does not state anywhere in the T&C about being one or the other.
I've already asked them to swap over to the lower rate of interest.... you think they are willing to do that? Of course not..... they've got me now, they're going to keep me on the higher rate. I can't even get any sense from their people on the phone, when I ask about the 5,000 points. Nobody knows anything about it. One person told me, that only the referring card holder gets the points. Another told me, that I get the points, but the referring card hold doesn't.
I just haven't had any bloody luck with my credit cards in the last six months!
I've signed up for one of the Qantas cabin bags...... maybe I'll win a 100K points! I'll be happy with that!!!!

regards....

 

[shyguy]

Response from Citibank to multiple balance transfers

Straight from Citibank;

Thank you for using the Citibank Australia Website.

In response to your inquiry you may have 1 balance transfer on the
account assured, you may apply for further balance transfers, approval
will be at Citibanks disgresion and at the current interest rate on the
credit card account.

You can consolidate your finances by simply transferring the outstanding
balance on any or all of your other card accounts to your Citibank
Credit Card and you will receive 1 Rewards point for every $1
transferred. Citibank will double the Rewards points to 2 for each $1
transferred if you close your other account.

Possibly the replacement card from AMP.

 

[Rick93]

I'll have to give credit to CITIBANK....
After writing a letter of complaint (see my 'whinge' in previous postings).....
Citibank have given me the 6.9%pa interest rate (as advertised), plus, I've been given the 5,000 bonus points for being a new card holder (Gold), again, as advertised on their webpage.
They sent me an apologetic letter, and thanked me for bringing the matter to their attention.
So, I don't have anything to complain about now!
If anyone else has any problem with Citibank.... try writing to them. It worked for me (on this occasion).

Regards,