Reduction in Transfer Rates to Velocity/Krisflyer

[k3nnis]

Hi Guys,

Read the whole thread and somewhat confused

So start of this thread I see Citi has reduced the transfer rate for SQ and VA, but a few posts up , am I right in saying they have returned it back to the normal (favourable) transfer rate?

I have a Citi Signature, which I can recall was effective earn $1 for 1 SQ mile.

Also once the rate gets reduced again, which non amex card has best SQ earn rate? westpac Black?

Thanks,
K.

 

[andye]

Hi Guys,

Read the whole thread and somewhat confused

So start of this thread I see Citi has reduced the transfer rate for SQ and VA, but a few posts up , am I right in saying they have returned it back to the normal (favourable) transfer rate?

I have a Citi Signature, which I can recall was effective earn $1 for 1 SQ mile.

Also once the rate gets reduced again, which non amex card has best SQ earn rate? westpac Black?

Thanks,
K.

Yes they have reverted (for now)

This thread outlines options (tabulated from post #22)

http://www.australianfrequentflyer....ion/the-where-to-citibank-thread-71857-3.html

 

[k3nnis]

Thanks for that.

 

[vitagen]

Can everyone post their transfer times from CB to KF? Colleague transferred his points out Monday 5pm and has yet got his points in his KF. I transferred mine from Amex and came in my account <24 hours later.

 

[hummel]

Can everyone post their transfer times from CB to KF? Colleague transferred his points out Monday 5pm and has yet got his points in his KF. I transferred mine from Amex and came in my account <24 hours later.

2 days for me. Transferred Sunday arrived Monday night.

 

[LordGarlic]

transferred on sat, arrived on tues night

 

[CJEMNMAC]

2 full business days for transfer to go through

Also, just received my 10k compo points...( Did have to contact the guy handling my complaint and he said was 3 - 4 business days for the additional...) Friday to today, so 4 days was correct.

 

[BOZZ]

transferred Sunday, arrived this morning

 

[psi999]

Transferred 10am yesterday (Tuesday), was with VFF when i checked 1pm today. ~27 hrs.

 

[Cruiser Elite]

Seems all and sundry are bailing out right now - I thought I might wait until dust settles and act if and when Citi revisit this.

Am I the Lone Ranger here?

 

[daveozsydney]

Seems all and sundry are bailing out right now - I thought I might wait until dust settles and act if and when Citi revisit this.

Am I the Lone Ranger here?

I'm in the same boat @Cruiser but changing my mind and about to bail now I've seen new terms and conditions... was considering a hilton transfer on the 2:1 deal (looking at cat 10 redemptions for 80K points/ 40K citi worth $840) and waiting to see what comes of the mysterious avios, but I'm seriously tempted to transfer all current points out while I'm still ahead

So Long and Thanks for All The Fish!

https://en.wikipedia.org/wiki/So_Long,_and_Thanks_for_All_the_Fish

 

[Cruiser Elite]

Ok so I am currently in China - when did new terms appear pls? Do the new terms still require Citi giving 90 days notice in writing to change of conversion rate?

 

[Buzzard]

Seems all and sundry are bailing out right now - I thought I might wait until dust settles and act if and when Citi revisit this.

Am I the Lone Ranger here?

I'm with you Cruiser, nothing transferred, just sitting back waiting.

 

[daveozsydney]

Ok so I am currently in China - when did new terms appear pls? Do the new terms still require Citi giving 90 days notice in writing to change of conversion rate?

I've only seen the post thatCJEMNMAC posted earlier in this thread that was received with a mail statement.

 

[Cruiser Elite]

I've only seen the post thatCJEMNMAC posted earlier in this thread that was received with a mail statement.

Oh ok - does that in any way contradict Isochronous's post #613?

 

[CJEMNMAC]

I've only seen the post that CJEMNMAC posted earlier in this thread that was received with a mail statement.

Oh ok - does that in any way contradict Isochronous's post #613?

I have had a read through and as someone mentioned earlier it refers to the credit card conditions and not specifically the Rewards T&C. The only reference I can see about "changes" is point 11

It does not give any indication about specific rewards or reward changes

This is a signature card that I have..

 

[daveozsydney]

I have had a read through and as someone mentioned earlier it refers to the credit card conditions and not specifically the Rewards T&C. The only reference I can see about "changes" is point 11

It does not give any indication about specific rewards or reward changes

This is a signature card that I have..

View attachment 59157

So they are going for a universal change to terms and conditions which means they only have to give 20 days notice to make changes from the effective date of the new terms and conditions rather than the current 90 days.

Interesting to note that this is the minimum legally permitted by ASIC so they are reverting to the minimum permitted:

It is a statutory requirement under section 68(1) of NCCPA that a credit provider refrain from exercising any contractual power to unilaterally amend its terms without providing at least 20 days’ written notice before the change takes effect, setting out the particulars of those changes.

But they still need to give 30 days to make these new changes effective which they appear to be ignoring if they're effective from 1st December...
I think they are trying to give 30days to then allow them to give 20days which is 50days rather than 90. But just guessing their intentions would be to change the conversion rates before the end of the year...

My points are out of there as of today anyway..... trust has been severely diminished...

 

[RAM]

So best approach is to assume the worst and that way you MAY get a pleasant surprise.

Time for (if you are not as OCD about it as many AFFers) you to spend some time working out your plans (hopes?) for the next few years of travel/holidays.

Do some intensive studying up on the various threads on redemptions/programs and transfer all but the last 15k of your points out. If you have a decent monthly spend then leave 15k - normal monthly spend (POINTS EARN) in the account.

 

[daveozsydney]

My spend is pretty high. Probably about 90k in the next couple of weeks so no problems with the minimums. In reality would've gone across to KrisFlyer or va anyway as it gives me the best value for my redemptions europe and suites class.Definitely looking at Hilton currently though. Shame american aren't on the list.

 

[theblank]

for interest sake, Im thinking of smashing the prestige with some upcoming spend - how long does it take for citi points to post? days or after each statement. Ive never bothered to check or notice.

must be The same day the transaction gets posted. I transferred all my points 1 day after the last transaction on my card. 7 days later, my rewards points balance is still 0.