[Offer Closed]: Citibank Gold NO ANNUAL FEE FOR LIFE

[oz_mark]

Have seen the news on the web, citi will cut 2500 employees in Australia to save the cost. They may consider starting charging any fees they can put on you.

2,500 is pretty much its entire Australian workforce!

 

[wxxnxs]

2,500 is pretty much its entire Australian workforce!

Yes, you r right, but compare with US, it is not that much. Anyway citi had provided a good deal for credit card in Australia market, from now on I believe we'll never ever find a credit card without annual fee and free rewards program.

 

[Starship]

Despite the so-called government guarantees (both in the US and Australia), I am reviewing my banking exposure to Citi. I have far more $$$ invested with Citi than cash outstanding on my Citi Visa.

Maybe i should have married you!

The bank can still go under...

I don't believe either the US or Australian government guarantees go as far as to guarantee that it will be business as usual at Citi (ie you will be able to get withdraw your money on demand) if the bank fails.

Three other banks went under today in the US - and discussions with some of my US counterparts suggest they are investing in longer term projects rather than putting their money in a bank, as the risk is less.

It is a wise move to review all your exposures.
[As you are probably more than aware, while there are numerous reasons for Babcock and Brown's crisis, today's was triggered by one of their 25 banks holding onto cash deposits as security against their own - the banks' - credit exposure].

 

[SIA1A]

Maybe i should have married you!

I'm available - but as with all things in life, there's a price!

 

[Starship]

I'm available - but as with all things in life, there's a price!

- Not only financially savvy and intelligent, but humourous and attractive to boot. hmmmm

 

[SIA1A]

Have seen the news on the web, citi will cut 2500 employees in Australia to save the cost. They may consider starting charging any fees they can put on you.

Actually, the news from Citi's Australian arm is that it will cut almost 100 jobs from a total Australian workforce of 2,500.

See Citi, ABN the latest to slash finance jobs | The Australian

 

[JohnK]

I thought I logged in to AFF but I must have somehow been redirected to a match making website.

 

[BiziBB]

Slightly OT, for Citi online savings/banking accounts, I figured all banks with an Aussie banking license were covered by the Australian Govt guarantee.

What is the possibility that Citi (domestic Aussie account) deposits are not guaranteed?

 

[oz_mark]

Slightly OT, for Citi online savings/banking accounts, I figured all banks with an Aussie banking license were covered by the Australian Govt guarantee.

What is the possibility that Citi (domestic Aussie account) deposits are not guaranteed?

The deposits are guaranteed, AFAIK. The issue raise here is how accessible those funds would be if the bank went under. They may not be immediately available (I dont even know if there is a procedure in place to deal with it)

 

[BiziBB]

I found the page with the Citi info on the Oz guarantee. Read the bold text for your on amusement.

Your Deposits with Citibank

Deposit Guarantee

As a result of the extraordinary circumstances in global financial markets, the Australian Federal Government has announced it will guarantee all bank deposits held in Australian-owned banks, Australian subsidiaries of foreign-owned banks, building societies and credit unions.

As an Australian subsidiary of a foreign-owned bank, we would like to assure all of our clients that all their deposits held with Citigroup Pty Limited ("Citibank Australia") will also be covered by this protection.

Following further clarification from the Australian Federal Government, after 28 November 2008 customers with deposits greater than $1 million will have the option to take advantage of the Government’s deposit guarantee for a fee of 0.7%. All deposits within Citibank Australia remain guaranteed (free of any fee) until 28 November 2008.

As a result of Citigroup Pty Ltd’s strong credit rating our customers benefit from the lowest fee offered by the Government of 0.7%.

Bolding mine.

 

[Starship]

I found the page with the Citi info on the Oz guarantee. Read the bold text for your on amusement.
[/size]
Bolding mine.

Don't they love spin! This nearly as good as the marketing spin from Qantas about giving you more space on the A380 by configuring it for 555 passengers - compared to the original (seriously downsized) proposal of 580.

 

[NM]

Don't they love spin! This nearly as good as the marketing spin from Qantas about giving you more space on the A380 by configuring it for 555 passengers - compared to the original (seriously downsized) proposal of 580.

or even the reality of 450 seats (14F, 72J, 32W, 332Y). Coincidently the same number of seats as in a QF 747-300.

 

[Starship]

or even the reality of 450 seats (14F, 72J, 32W, 332Y). Coincidently the same number of seats as in a QF 747-300.

And wearing a 50% landing / takeoff separation penalty to the 743, not to mention the [LAX] 29 minutes from push back to runway occupancy for takeoff - even with priority taxiways [ie no roadblocks or delays], due to the size of the wings conflicting with other apron space. At least it is quieter and more fuel efficient than the 743.

So back to the Thread - Fee free from Citibank (if the $31bn of funding ensures their survival) but a credit department from the River of Styx if you are late on payment.

 

[oz_perspective]

FWIW I phoned Citibank today asking for a promotion code for this or a similar offer...no dice!

 

[Starship]

FWIW I phoned Citibank today asking for a promotion code for this or a similar offer...no dice!

I would suggest the cost of the call, and the time taken to make such call was a poor investment choice, with a better return to be gained by looking out the window and pondering your next FF points fueled trip to....... (say) Uzbekistan? (or with your reference to dice, a quick trip to the casino!)

 

[wxxnxs]

FWIW I phoned Citibank today asking for a promotion code for this or a similar offer...no dice!

May I ask what kind is this code for?

 

[oz_perspective]

May I ask what kind is this code for?

You certainly may. This thread was for a Citibank Gold no annual fee for life. To utilise this offer, a promotion code was required (embedded in the URLs earlier in this thread). I asked Citibank for a promotion code so that I could plug it into the 'cardoffer' page on the Citibank site. Sorry I cannot post a URL as I have made less than ten posts. Hope this helps!

 

[wxxnxs]

You certainly may. This thread was for a Citibank Gold no annual fee for life. To utilise this offer, a promotion code was required (embedded in the URLs earlier in this thread). I asked Citibank for a promotion code so that I could plug it into the 'cardoffer' page on the Citibank site. Sorry I cannot post a URL as I have made less than ten posts. Hope this helps!

Thanks for that. Does that mean if I apply through the phone and mention that code to them, I'll be able to offer this deal? Will citi deny this code because this promotion is not existing anymore?

 

[JohnK]

This offer no longer exists. The last few pages of this thread documents how Citibank have gone to great lengths to remove this offer from their website. And also if you look at the financial position of Citibank and take into account the globabl financial crisis one would understand why Citibank would not waive any annual fees on credit cards.

Can a moderator please close this thread as I cannot see what value can be added by continuing to leave this thread open. Unless Citibank comes up with a similar offer....

 

[oz_mark]

Can a moderator please close this thread as I cannot see what value can be added by continuing to leave this thread open. Unless Citibank comes up with a similar offer....

...or at least put offer closed in the title!