Reduction in Transfer Rates to Velocity/Krisflyer

[daveozsydney]

That must be new as it is not in my archived copy of the terms and conditions...
On my issued version they stop at 3.4 on page 5 then start at 4. on page 6

It's also not on this version on their website;

https://www.citibank.com.au/global_docs/pdf/MCG12231_1014.pdf

 

[LittleFokker]

Yah, MrsFokker can still have her cake and eat it! Thanks Dave & all,

 

[CJEMNMAC]

That must be new as it is not in my archived copy of the terms and conditions...
On my issued version they stop at 3.4 on page 5 then start at 4. on page 6

It is on the rewards site under terms and conditions and headed " Additional Citi Rewards Program Terms and Conditions "

 

[theblank]

I have already switched back some of my direct debits to Amex, even if I have to pay higher surcharge, I can't trust Citi, so I'd rather earn points in other bank's currency than Citi's. I was thinking of investing $100k to get Citigold, but I don't trust them anymore, so I'll keep my money with other banks that I can trust.

Seriously?

they have admitted a mistake, fallen on the sword, and reverted to the previous terms. That suggest that they *can* be trusted. Every service provider provides good service and the occasional bad. The only way to find out if they provide even better service is how they deal with the mistakes.

Even so, I beleive Citibank acted in accordance with their T&C, I thought the wording was very clear. The mistake they made was a customer relations/publicity one, that's all.

 

[VAG newbie]

It is on the rewards site under terms and conditions and headed " Additional Citi Rewards Program Terms and Conditions "

View attachment 58889

That's a warning. For lawyers in this forum, does that mean they can devalue without warning now? They have made the wording very clear this time "point transfer". So is there a minimal time before a change in T&C takes into effect? Do they have to send out a copy to everyone? I think it's better to transfer whatever you have to KF or VA now just in case. It looks like they don't have to give 90 day notice

 

[Supersonic Swinger]

Seriously?

they have admitted a mistake, fallen on the sword, and reverted to the previous terms. That suggest that they *can* be trusted. Every service provider provides good service and the occasional bad. The only way to find out if they provide even better service is how they deal with the mistakes.

Even so, I beleive Citibank acted in accordance with their T&C, I thought the wording was very clear. The mistake they made was a customer relations/publicity one, that's all.

Seriously. This is the latest Citi experience in a long line of mine (here as well as in the US and in Singapore) which continues to show they provide bad service and don't learn how to deal with their mistakes.

Now, warehousing points with Citibank is like accruing miles with Delta - you can never be too sure when and how quickly they will be devalued.

 

[yohy?!]

Seriously?

they have admitted a mistake, fallen on the sword, and reverted to the previous terms. That suggest that they *can* be trusted. Every service provider provides good service and the occasional bad. The only way to find out if they provide even better service is how they deal with the mistakes.

Even so, I beleive Citibank acted in accordance with their T&C, I thought the wording was very clear. The mistake they made was a customer relations/publicity one, that's all.

Respectfully - they have been dragged kicking and screaming only at threat of legal and regulatory action.

Trust will take a lot of time to rebuild - I will view them with suspicion having seen how they operate in HK also. A terrible atmosphere to try a grow their customer base in after aggrieving customers who are AFFers and are likely strong brand ambassadors for them and know and understand the benefits of using them.

The T&Cs themselves seem to be poorly worded, open to interpretation and in some places dubious in legality. I would hope they are clarified very soon and a notice period for transfers introduced in line with industry standard.

 

[mitwg]

Seriously?

they have admitted a mistake, fallen on the sword, and reverted to the previous terms. That suggest that they *can* be trusted. Every service provider provides good service and the occasional bad. The only way to find out if they provide even better service is how they deal with the mistakes.

Even so, I beleive Citibank acted in accordance with their T&C, I thought the wording was very clear. The mistake they made was a customer relations/publicity one, that's all.

Before they reverted to their previous terms, they tried to bury us using some obscure interpretation of their T&Cs. Then someone must've realised that they won't be able to get away with this, so they relented for the time being.

In my view, this is being caught red-handed and not 'fixing' a mistake based on feedback.

If they were making an effort to correct their actions, their initial response based on people's feedback should've been 'sorry we made a mistake because we didn't give you 90 days notice, let us try again', not 'according to our T&Cs, we can do whatever we like'.

 

[serfty]

...
Even so, I beleive Citibank acted in accordance with their T&C, I thought the wording was very clear. The mistake they made was a customer relations/publicity one, that's all.

I believe Citi's base legal team advised management the action was within the T&C's or they could at least get away with it).

I am thinking with the outcry and having 6.2 dot point 1 with the terms "points" "earned", "converted" & "90 days" thrown around they may have asked for a second legal opinion.

Given the terms in dot point 3 and it reference "goods and services" It's likely the second opinion differed in that dot point 3 would not apply to points.

This is the only way I can see them backtracking so.

Conjecture, but perhaps the base legal team in the first place gave "the" answer in line with what management wanted.

 

[M@rcoPolo]

Conjecture, but perhaps the base legal team in the first place gave "the" answer in line with what management wanted.

Even if that was the case, management should have known such a change would immensely p-off the majority of their customer and hurt their brand - as it indeed happened!

I'm still of the opinion that their management team should get their collective a**es kicked and be sent back to business school urgently !!

 

[mitwg]

Regardless of what the T&Cs says, I also think a customer centric organisation would want to go beyond what they are required to do as a minimum (which is the T&Cs) to please the customers.

After all, we are all on this forum because we appreciate the exceptional service we receive at the Mandarin Oriental and quality First Class flights like SQ or CX. If these companies we know and love only offered the bare minimum, we would probably view them as different companies to how we view them now.

Citi's Prestige cardholders are supposed to be their most valuable client base, in terms of the credit card products. They are promising an 'unforgettable experience' with the Citi Prestige (not my words) and I'm sure we all got one this time around.

 

[DC3]

Such actions may be legal, but what about acting in Good Faith on their part. Poor regard for their customers.

I've had difficulties with Citi in the past, and still have the CitiBusiness card, but this action takes the cake.


Edit: Today, I've sent a secure message to Citi, expressing concern and seeking more information.

 

[Mattg]

daveozsydney - You're a legend!!

 

[msniper]

He absolutely is. Thanks David.Richard

 

[daveozsydney]

daveozsydney - You're a legend!!

It was a team effort. Also isochronous did a lot of legal research in a different time zone so big hats off to him...

legal action parked now and hopefully not required if Citibank act in good faith...

 

[airhitam]

Well done all. The best news for today.

 

[Swappy74]

Guys Good news for all. Just received call from Citibank and was advised that they are reverting their decision and hence the points transfer at old rate is applicable from Monday. I had 1.2M Citi Points so was bit anxious to know the outcome. Sincere thanks to AFF and all of you, without this forum I would not have known in the first place about the change. They also advised that in future any such changes will be notified to their customers.

 

[basso]

The most eloquent way to describe this, is, I think, to borrow the words of a past moderator

it's a cluster coughk, really very unprofessional.

 

[civinod]

Great news....

So is there going to be a mass transfer of points as soon as the rates revert.

For mine I will be transferring every single point to SQ. I can only imagine how much money Citi will have to actually pay to SQ and VA when all the warehoused points are transferred.

However the rocket scientist at Citi that pitched how much money the bank would save with this move to his superiors hmmm. What do you think of his future prospects??

I hope Citi and all the other banks/providers think long and hard before they try and deceive customers again.

 

[aerotravel]

Well done, daveozsydney and everyone else who has vented their frustrations and disappointment to the bank.

The million points I've heard from here, is definitely something in comparison to my balance which is just under the 15k minimum to transfer out.

Non points / miles obsessed people do not know what it's like to have this disease