Possible Back Door for Citi Dividend

[Anonymous]

Hey everyone, I read in the comments section of another site that you can convert an existing Citi credit card into a Citi Dividend card, which has been publicly unavailable since at least August of 2014.  

Today I spoke with a call center agent for Citi, who after searching for the card initiated a conversion of an existing DoubleCash card into the Citi Dividend.  The process will take up to two months and I can opt out as late as April.  I've read that newer accounts are not eligible for conversion, but this was not an issue for me (my agent confirmed, unsolicited, that my account was open for 2 years).  I know reviewers often knock the more restrictive cash back ceiling on the Dividend compared to Discover or Chase, but I'm not manufacturing spend and simply want another option in my wallet when the necessity to buy in a given category arises.  To me another no-fee 5% card is worth it, especially with other flat 2% cash back options existing outside of Citi.

I'm posting here to 1) give back and 2) see if anyone else has experience with this and if they actually received the card yet.  Until I have it in my hands I remain skeptical, particularly given Citi's "opt-out" approach to turning Dividend holders into DoubleCash cards in 2016.  With Chase's Freedom Unlimited card, it seems like 5% bonus categories are less appealing to the big banks these days!

[kdm31091]

I think most consumers are tired of rotating categories and prefer flat rate, no effort rewards like Double Cash or Freedom Unlimited. While the legacy Freedom and the Citi Dividend (sort of; product change only) remain available for now, I'd guess we will see less and less of these products and more straightforward flat rate ones. Consumers don't want to think about this stuff for the most part.

The Dividend usually has IMO pretty weak categories but there could be an occasionally useful one

[Anonymous]

I converted from a Citi ThankYou card to the Citi Dividend a couple of years ago.  I had been watching the categories on the Dividend and it seemed like a good card to add to my mix.  Once I got it converted... nothing.  On the few quarters they've offered a category I could use, it was overlapped on the Freedom or the Discover.

For whatever reason, Citi hasn't said word one to me about converting to the Double Cash, nor would I be interested as I have the Fidelity.

Chris.

[Anonymous]

Interesting.....having a Dividend of my own I have to wonder why anybody would want such a card. The rotating 5% catagories have been terrible for me. I think right now its Home Depot.  Hopefully it will be beneficial for you. I keep waiting for them to automatically change existing Dividend cardholders into the Double Cash.

Thanks for posting. Citibank is my least favourite bank, but they are great about product changes. 

[Anonymous]

I had a Dividend card and converted it to Double Cash when DC first became available. The Dividend card was terrible (IMO) but if it works for you that is good! My daily driver is my Fidelity Visa (Amex previously).

[longtimelurker]

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@Anonymous wrote:

Interesting.....having a Dividend of my own I have to wonder why anybody would want such a card. The rotating 5% catagories have been terrible for me.

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That was my reaction too!   Also, a $50 minimum redeption, meaning $1000 spend, so the category has to be useful to you to allow you to spend.  At least they have got rid of the $50 increment though

[CreditUnionFan]

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@Anonymous wrote:

Interesting.....having a Dividend of my own I have to wonder why anybody would want such a card. The rotating 5% catagories have been terrible for me. I think right now its Home Depot.  Hopefully it will be beneficial for you. I keep waiting for them to automatically change existing Dividend cardholders into the Double Cash.

Thanks for posting. Citibank is my least favourite bank, but they are great about product changes. 

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There are some occasions where the 5% category fits a need...  and thankfully Citi lets you earn $300 per year, so if you find a single quarter on the Citi Dividend, you could max out $6k, which makes up for the quarters where the categories overlap or aren't really practical.

[Anonymous]

For those who were curious, I had two Double Cash cards and no longer needed them after getting additional cash back cards from Fidelity.  I figure the off-chance of an applicable 5% category is more useful than a redundant 2% card.

To that end paperwork confirming the transfer came two weeks ago stating my new card will arrive in April.  We'll see how it goes.

[longtimelurker]

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@Anonymous wrote:

For those who were curious, I had two Double Cash cards and no longer needed them after getting additional cash back cards from Fidelity.  I figure the off-chance of an applicable 5% category is more useful than a redundant 2% card.

To that end paperwork confirming the transfer came two weeks ago stating my new card will arrive in April.  We'll see how it goes.

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OK, that makes sense in that at least one DC was certainly useless and maybe the Div won't be.    But, personally, I find it hard to remember to a) check what the offer is this quarter, and b) remember to use it if it useful.

The category might also overlap with another card. 

But I agree it was useful once (drugstores for MS...)