Changes to Citi Thank You Program

[longtimelurker]

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@asteroidblues86 wrote:

I finally got the same letter in the mail for TY Preferred World MC. Adding 2X on Dining, 2X on entertainment, and "Exclusive events." Also eliminating Anniversary bonus next year and they are giving bonus points for enrolling in online account and paperless only until July 27.

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For a "change" this is still not very compelling, just better than it was.   This bumps a 1% card into a 2% in a few categories, which lacks a wow factor!  Not sure why people would want it compared to a straight 2% card, a card with miles transfer such as Amex/CSP, a card with a bigger bonus (Barclays Arrival and CSP) etc, unless paired with the Premier/Prestige and possibly the forward (if that doesn't go away).  But if you have the forward, you already have 5% in these categories.   So not sure why Citi does this.

[enharu]

My guess is they are trying to eliminate forward altogether and have people switched over.

[longtimelurker]

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@enharu wrote:

I wish they made cashback / statement credit redemption rates the same. 

Redeeming for gift cards or merchandise is kinda stupid.

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If you have been "good", mortage/student loan check redeems at the same 1:1 rate (and doesn't really have to go to your mortgage).

[longtimelurker]

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@enharu wrote:

My guess is they are trying to eliminate forward altogether and have people switched over.

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I agree, and that will be a real downgrade.

[enharu]

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@longtimelurker wrote:

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@enharu wrote:

I wish they made cashback / statement credit redemption rates the same. 

Redeeming for gift cards or merchandise is kinda stupid.

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If you have been "good", mortage/student loan check redeems at the same 1:1 rate (and doesn't really have to go to your mortgage).

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tell me more about this

[longtimelurker]

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@enharu wrote:

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@longtimelurker wrote:

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@enharu wrote:

I wish they made cashback / statement credit redemption rates the same. 

Redeeming for gift cards or merchandise is kinda stupid.

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If you have been "good", mortage/student loan check redeems at the same 1:1 rate (and doesn't really have to go to your mortgage).

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tell me more about this

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To get the check for mortgage or student loan, you have to phone up Citi.  They ask you which financial institution holds the account.   They make out the check to that institution, and send the check to YOU, to forward on (I assume this is to avoid some liability or something if the check doesn't arrive at the lender in time).   Many people just name their own bank, e.g. Bank of America, and even using smartphone remote deposit, just deposit the check into their account.

This is another example of Citi sloppiness, or maybe an indication that they don't care.   They have your credit record and can see who holds your mortgage(s) etc, and if you claim they have recently changed, they could ask for proof.  But they don't, just make out the check to who you say.

The comment about being good:  if you have a 5x card or 5x  retention offer, and have purchased even one gift card, calling for a check seems to be one trigger that begins the account shutdown process.

[enharu]

ah I haven't bought any gift cards. I was going to until I saw the CL they gave me lol.

So basically I can have the check made out to Chase for example, and I can still deposit that check into my own checking/savings account? 

Thanks a lot!

[asteroidblues86]

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@longtimelurker wrote:

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@asteroidblues86 wrote:

I finally got the same letter in the mail for TY Preferred World MC. Adding 2X on Dining, 2X on entertainment, and "Exclusive events." Also eliminating Anniversary bonus next year and they are giving bonus points for enrolling in online account and paperless only until July 27.

---

For a "change" this is still not very compelling, just better than it was.   This bumps a 1% card into a 2% in a few categories, which lacks a wow factor!  Not sure why people would want it compared to a straight 2% card, a card with miles transfer such as Amex/CSP, a card with a bigger bonus (Barclays Arrival and CSP) etc, unless paired with the Premier/Prestige and possibly the forward (if that doesn't go away).  But if you have the forward, you already have 5% in these categories.   So not sure why Citi does this.

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I agree but for me I'm happy considering my card at one time had no rewards whatsoever!

[w20031424]

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@enharu wrote:

My guess is they are trying to eliminate forward altogether and have people switched over.

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That' a VERY bad news for me. I just got their Forward Student card.  

[enharu]

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@w20031424 wrote:

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@enharu wrote:

My guess is they are trying to eliminate forward altogether and have people switched over.

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That' a VERY bad news for me. I just got their Forward Student card.  

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The switch shouldn't happen until end of this year though. My guess that is.