Reduction in Transfer Rates to Velocity/Krisflyer

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Very poor form Citibank. Looking at this another way : could this be because velocity increased the cost of points for Citi? If so - it's velocity who are really losing out on the deal since transfers will decrease
 
cove said:
I know you were worried about me but I have cleaned out my Australian Citi warehouse a couple of times.
Still having over a million reward points getting devalued is harsh. If I was running Citibank I would have applied it to points earned after November 1st rather than steal value from all of their customers by a computer click.
Mrscove thinks what they have done is really odd but she is biased from the poor start she had with them.
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Very harsh. That's at least 1 suite return flight to europe lost in an instant.
 
ninja-tim said:
Ouch, not a happy chappy. Even if they reverse the changes, will much people will stay on considering how tempermental Citi is being?
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They are not being temperamental they are just being ............. Citi! They have done it before - prolly will do it again at some time in future.

Still thinking Prestige best card going around so no change for me - except I am about 550K SQ pts worse off tonight than I was this morn - such is life - we'll try try to claw them back but if we don't well the sun will still come up in the morn.
 
just got off the phone with them, needing to discuss my unused benefits and the annual fee charged for the upcoming year. The best offer they came up with was 20000 points to make up for the loss of points due to the conversion change.

I've paid surcharges to buy multiple cars on this card, so I am losing out on the devaluation of the points as well as actual money paid on the surcharges.

Weird way of going about things, at least with the ATO changes they gave notice of the changes.

Only positive is that I didn't have as many points there as I initially thought, forgot about some transfers made recently. So rather than 2m + points, its only 1.4m being devalued. Small blessings guess!
 
This is the second time they've done this - they did it with Platinum cards about 3 years ago!
I'm not happy!
 
robd said:
All they had to do was give notice of the change and give everyone an opportunity to convert their points.

I'd like a refund of the annual fee by the same percentage. :evil:
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How do you get a fee free for life refund???????
 
edman said:
Weird way of going about things, at least with the ATO changes they gave notice of the changes.
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Did they actually give notice of ATO changes? It was a while ago now but I seem to remember some people being caught out as they did it sneakily. Like this time.
 
infinity said:
Very disappointed with about 1.5m points now 20% worse off and no Velocity 15% uplift on their promo this month.

Will use the FOS route if needed
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..actually 25% ;)...sorry to say!
 
edman said:
just got off the phone with them, needing to discuss my unused benefits and the annual fee charged for the upcoming year. The best offer they came up with was 20000 points to make up for the loss of points due to the conversion change.

I've paid surcharges to buy multiple cars on this card, so I am losing out on the devaluation of the points as well as actual money paid on the surcharges.

Weird way of going about things, at least with the ATO changes they gave notice of the changes.

Only positive is that I didn't have as many points there as I initially thought, forgot about some transfers made recently. So rather than 2m + points, its only 1.4m being devalued. Small blessings guess!
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Lol, only 1.4m points? that's still a lot of points being devalued. I'm glad you see that as a positive as I would definitely be quite the opposite :(
 
I would of moved them over to SQ earlier if Krisflyer didn't have 3 year expiry on points. I'll just keep my Citi card for overseas spend and use Amex for local spend.
 
Called to make a complaint.
Customer service rep completely agreed with the zero notice of a material change and said there had been quite a few calls about the same thing today.

I'd encourage everyone else to call and complain. I've only got ~400K points sitting there but it's still a huge hit.
 
Cruiser Elite said:
You are such a stickler for detail!

So have you stopped bawling yet? The Krug will soften the blow a bit - will you pls tell Joan in TPR I'll be there Sun to see them?
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Will do happy to ditch QF F class for SG R any way
 
gizzard said:
a. They can say that they haven't changed they way that you can earn points and nor have they changed the way they are converted, that is, your expenditure on the card is converted to Citi points. I think that is what is implied, that the conversion is to Citi Points from dollars spent on the card not from Citi Points to Airline Miles.
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Good luck to them given what you have described is well known throughout the industry is the earn rate. Trying to claim earn and convert are the same may sound good to Citi but I doubt it will to FOS and I know how much this will cost them if I take it to FOS.
 
Mmmmmm NOT HAPPY JAN.... Lucky the thing is free for me.... If I was passing annual fee really would be peeved!
 
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