topic Re: Citi MC annual fee in Credit Cards

Citi MC annual fee

Anonymous — Thu, 06 Aug 2009 17:50:51 GMT

My mother just called me because she received her Citi MC statement and there was a pamphlet included with it that had "important account changes." My mom said that unless she charges $2400 over a 12 month period, her account will have a $60 annual fee. She was going to call and cancel the card. I said WAIT...

I simply told her to charge her weekly groceries and then PIF. So, problem solved. I asked here what type of Citi MC she has, and she said the one with the points.

Sorry for the lack of detail.

OT: By the way, I am home from work with a sinus infection. The only good thing is that I am watching Burn Notice on TV. Season finale is tonight.

Re: Citi MC annual fee

FocusOnFICO — Thu, 06 Aug 2009 18:56:31 GMT

Scout----thanks for the heads up. I have a Platinum Select MC and will check to see if there are any changes.

Burn Notice is one of the only shows I make time to watch---enjoy the Season Finale!

Re: Citi MC annual fee

MarineVietVet — Thu, 06 Aug 2009 18:57:42 GMT

@Scout1965 wrote:
My mother just called me because she received her Citi MC statement and there was a pamphlet included with it that had "important account changes." My mom said that unless she charges $2400 over a 12 month period, her account will have a $60 annual fee. She was going to call and cancel the card. I said WAIT...

I simply told her to charge her weekly groceries and then PIF. So, problem solved. I asked here what type of Citi MC she has, and she said the one with the points.

Sorry for the lack of detail.

OT: By the way, I am home from work with a sinus infection. The only good thing is that I am watching Burn Notice on TV. Season finale is tonight.

Excellent idea!

Re: Citi MC annual fee

Anonymous — Thu, 06 Aug 2009 19:00:37 GMT

Smart idea.

Re: Citi MC annual fee

Anonymous — Fri, 07 Aug 2009 01:08:33 GMT

approx 500,000 accounts will get a notification that citi will impose an annual fee

4 different Terms that it could be.

Option 1: annual fee of $30 billed starting with the September 2009 statement...will be credited $30 upon $2400 in purchases within 12 months.

Option 2: annual fee of $90 billed starting with the September 2009 statement...will be credited $90 upon $2400 in purchases within 12 months.

Option 3: annual fee of $60 billed starting with the September 2010 statement...will be waived with $2400 in purchases by the end of August 2010 statement.

Option 4: annual fee of $90 billed starting with the September 2010 statement...will be waived with $2400 in purchases by the end of August 2010 statement.

All accounts targeted for this will also get an offer to accumulated additional Thankyou Points (1.25x-2x on select purchases). Meaning that only account that have Thankyou associated with them will get this notice and it has to be one of the 500,000 as well. This will most likely target Diamond Preferred Rewards above anything else, but could be to any card that has ThankYou associated with it.

1.25x-2x on purchases after reaching a certain threshold of purchases in a membership year Sept-Aug...either 9000 in purchase or 15000 in purchases.

If you opt out the account will close immediately.

Notifications were sent yesterday.

Re: Citi MC annual fee

Anonymous — Fri, 07 Aug 2009 01:22:38 GMT

@Anonymous wrote:
approx 500,000 accounts will get a notification that citi will impose an annual fee

4 different Terms that it could be.

Option 1: annual fee of $30 billed starting with the September 2009 statement...will be credited $30 upon $2400 in purchases within 12 months.

Option 2: annual fee of $90 billed starting with the September 2009 statement...will be credited $90 upon $2400 in purchases within 12 months.

Option 3: annual fee of $60 billed starting with the September 2010 statement...will be waived with $2400 in purchases by the end of August 2010 statement.

Option 4: annual fee of $90 billed starting with the September 2010 statement...will be waived with $2400 in purchases by the end of August 2010 statement.

All accounts targeted for this will also get an offer to accumulated additional Thankyou Points (1.25x-2x on select purchases). Meaning that only account that have Thankyou associated with them will get this notice and it has to be one of the 500,000 as well. This will most likely target Diamond Preferred Rewards above anything else, but could be to any card that has ThankYou associated with it.

1.25x-2x on purchases after reaching a certain threshold of purchases in a membership year Sept-Aug...either 9000 in purchase or 15000 in purchases.

If you opt out the account will close immediately.

Notifications were sent yesterday.

To whom and how?

Glad I was smart enough to get the non-rewards DP.

Message Edited by creditwherecreditisdue on 08-06-2009 09:22 PM

Re: Citi MC annual fee

DI — Fri, 07 Aug 2009 01:28:59 GMT

I've only had my Citi Platinum for a month. I hope I don't receive any changes in terms. I'm certainly not going to pay an AF or make $2400 in purchases within a year. Is CITI trying to get it costumers to stimulate the economy?

Re: Citi MC annual fee

Anonymous — Fri, 07 Aug 2009 02:01:41 GMT

This is targeted at people with rewards cards and no AF. Not exactly earthshaking.

Re: Citi MC annual fee

haulingthescoreup — Fri, 07 Aug 2009 02:09:42 GMT

creditwherecreditisdue wrote:

... Not exactly earthshaking.

Plenty startling if it happens to you, though.

Re: Citi MC annual fee

Anonymous — Fri, 07 Aug 2009 13:31:08 GMT

I'd product change.