topic Re: Convert Citi Diamond to Citi Rewards+, Worth it? in Credit Card Applications

Convert Citi Diamond to Citi Rewards+, Worth it?

merlinflex — Sat, 18 Apr 2020 17:13:23 GMT

For the last few years I have been getting emails and letters offering me to switch from my Citi Diamond Preferred to Citi Double Cash Card, but just never did it. Today I got an email offering the same conversion offer, but now to Citi Rewards+. Says no credit check, etc etc.

Has anyone done this yet? I dont' use my Citi Diamond a whole lot. It has a $20K CL and a 18.99% rate.

I think if I convert I don't get any of the sign on bonuses or special offers, it would be just a straight conversion over, yes?

That aside, wondering if the Rewards+ card is better than the Diamond card all around.

Any insight? TIA!

Re: Convert Citi Diamond to Citi Rewards+, Worth it?

Anonymous — Sat, 18 Apr 2020 17:41:03 GMT

I've been getting the same email offers for the last two years, but since I don't use the DP that much other than the occasional BT so I passed.

If I were to choose, I'd go with the DC because it's Cash Back and no real significant SUB. The Rewards+ does come with a SUB, so I wouldn't convert to it but rather app for it.

That said, if the 15K SUB doesn't matter to you the card itself earns 2X on supermarkets/gas and 1X on all other purchases. Plus rounds up to the nearest 10 points.

The DC is a flat 1% on purcahses and 1% upon payments making it 2%.

So it depends on whether you like cash or points, and you spending categories.

Re: Convert Citi Diamond to Citi Rewards+, Worth it?

merlinflex — Sat, 18 Apr 2020 18:40:49 GMT

@Anonymous wrote:
I've been getting the same email offers for the last two years, but since I don't use the DP that much other than the occasional BT so I passed.
If I were to choose, I'd go with the DC because it's Cash Back and no real significant SUB. The Rewards+ does come with a SUB, so I wouldn't convert to it but rather app for it.

That said, if the 15K SUB doesn't matter to you the card itself earns 2X on supermarkets/gas and 1X on all other purchases. Plus rounds up to the nearest 10 points.

The DC is a flat 1% on purcahses and 1% upon payments making it 2%.
So it depends on whether you like cash or points, and you spending categories.

Hmmmm...yeah, tyring not to app for anything right now. Only have 2 HPs across the board, both less than 12 mos. One was for mortgage refinance (3.15% woo hoo) and one for the apple card, both last summer. I am probably going to be selling home and moving across country in the next year or so and will need a new loan for a new house then. I have quite a bit of credit, $700K and around 8% utilized across all cards/PLOCs/etc. Scores are low 800s too. So really converting is probably the max I will do now as outside of last summer's apple, I have not really seen a credit card that just jumps out at me with a great intro or offer....yet. Guess I will read into it more and then decide which to convert to or maybe not convert at all.

Which leads me to my next question...why is citi wanting Diamond card holders to covert anyway? Has to be something in it for them I am sure......

Re: Convert Citi Diamond to Citi Rewards+, Worth it?

Anonymous — Sat, 18 Apr 2020 20:12:25 GMT

I'd change it to the DoubleCash since that one has no sign-up bonus right now. The Rewards+ is okay, especially if you have frequent small purchases. DoubleCash is a good keeper card for 2% everything.

Re: Convert Citi Diamond to Citi Rewards+, Worth it?

kdm31091 — Sat, 18 Apr 2020 21:17:06 GMT

I'm not 100% sure so don't quote me but I think if you convert to a Rewards+ it counts as "opening" a Rewards+, which disqualifies you from getting a SUB on any ThankYou point card (Rewards+, Premier, Prestige) for the next 24 months. Of course, you are not getting the SUB with the conversion, but you're also forfeiting 24 months of SUBs in that product line (unless I'm wrong).

The Rewards+ is a decent card. Generally the value is only great on smaller transactions. As the transaction grows, the advantage of the roundup diminshes to almost nothing, and it becomes basically a slightly more than 1% card (2% on the categories).

I'd just convert to a Double Cash, since that card almost never has a signup bonus, and you get 2% on everything. The Diamond is useless either way beyond the intro APR so I'd definitely convert.

Re: Convert Citi Diamond to Citi Rewards+, Worth it?

joltdude — Mon, 20 Apr 2020 13:16:18 GMT

Let me throw another wrench in the gears... id poke and ask around these forums... Tempted to say DC.... but DC cards can now earn TYP instead of cashback.... not sure if that would affect the SUB status on the other card.... because i got an offer to earn TYP instead of CB with the DC.... If it were me id convert it to a DC and also go for an APR reduction on principle after the conversion settles ... Citi does entertain APR reductions.

https://ficoforums.myfico.com/t5/Credit-Cards/Citi-apr-redux/td-p/5946712