topic Re: Citi Premier Downgrade Options? in Credit Cards

Citi Premier Downgrade Options?

ZxMarsxZ — Sat, 05 Mar 2022 14:59:49 GMT

Hello all,

I have a citi premier credit card that was opened a year ago. The annual fee just posts on my account, and I don't want to pay that. I already called in with no retention offer available. I'd like to ask the community here on what my other options are. I know that downgrading the card is possible, but would downgrading reset the 24-month bonus eligibility clock? If not, then what are the best downgrade options? Thank you all in advance.

Re: Citi Premier Downgrade Options?

Hoben02 — Sat, 05 Mar 2022 18:14:08 GMT

https://helpmebuildcredit.com/your-downgrade-options-for-citi-credit-cards-2021/

Re: Citi Premier Downgrade Options?

FinStar — Sat, 05 Mar 2022 19:11:28 GMT

@ZxMarsxZ wrote:
Hello all,

I have a citi premier credit card that was opened a year ago. The annual fee just posts on my account, and I don't want to pay that. I already called in with no retention offer available. I'd like to ask the community here on what my other options are. I know that downgrading the card is possible, but would downgrading reset the 24-month bonus eligibility clock? If not, then what are the best downgrade options? Thank you all in advance.

Yes, it will likely reset the SUB clock per a variety of confirmed sources.

Re: Citi Premier Downgrade Options?

wingennis — Mon, 07 Mar 2022 00:48:29 GMT

It took 2 months for the product change to happen. Annual fee NOT waived.

Re: Citi Premier Downgrade Options?

FinStar — Mon, 07 Mar 2022 02:41:59 GMT

@wingennis wrote:
It took 2 months for the product change to happen. Annual fee NOT waived.

Interesting. How long ago was this?

IME, anytime I downgraded any Citi products, the AF was adjusted, product changed on the Citi portal almost immediately and replacement card arrived within a week or so. Typically, the T&C's disclosure allows ~45 days 'grace period' in the event of reverting back to the previous product.

Re: Citi Premier Downgrade Options?

Citylights18 — Mon, 07 Mar 2022 08:40:37 GMT

Citi Premier has some unique transfer partners that you can't get with Chase. Plus access to Citi deals and occassional spending bonuses.

Its not as great as Chase ecosystem with CSR probably the #1 travel card and Freedome 5x rotators but Citi is not bad as a secondary earning system.

Re: Citi Premier Downgrade Options?

MrDisco99 — Mon, 07 Mar 2022 16:24:17 GMT

@wingennis wrote:
It took 2 months for the product change to happen. Annual fee NOT waived.

This happened to me a couple years ago. I called CS and they fixed it.

And yes, downgrading does reset the 24-month clock. I always keep the Premier for two years, then sign up for a new one, then downgrade. Even at 1cpp, the signup bonus is always worth keeping the card for an extra year to get it again.

My Rewards+ and my Custom Cash are both Premier downgrades. I'm pretty sure you can downgrade to the Double Cash as well.

Re: Citi Premier Downgrade Options?

simplynoir — Mon, 07 Mar 2022 16:27:56 GMT

@MrDisco99 wrote:
And yes, downgrading does reset the 24-month clock. I always keep the Premier for two years, then sign up for a new one, then downgrade. Even at 1cpp, the signup bonus is always worth keeping the card for an extra year to get it again.

You kept the current Premier and were able to apply for another? If so I did not know that was possible. I always assumed they played by Chase rules regarding that i.e. if you have a current Sapphire product no approval for others

Re: Citi Premier Downgrade Options?

MrDisco99 — Mon, 07 Mar 2022 16:48:37 GMT

@simplynoir wrote:
@MrDisco99 wrote:
And yes, downgrading does reset the 24-month clock. I always keep the Premier for two years, then sign up for a new one, then downgrade. Even at 1cpp, the signup bonus is always worth keeping the card for an extra year to get it again.
You kept the current Premier and were able to apply for another? If so I did not know that was possible. I always assumed they played by Chase rules regarding that i.e. if you have a current Sapphire product no approval for others

Yep. Citi doesn't care.

Re: Citi Premier Downgrade Options?

wingennis — Mon, 07 Mar 2022 18:24:10 GMT

@FinStar wrote:
@wingennis wrote:
It took 2 months for the product change to happen. Annual fee NOT waived.
Interesting. How long ago was this?

IME, anytime I downgraded any Citi products, the AF was adjusted, product changed on the Citi portal almost immediately and replacement card arrived within a week or so. Typically, the T&C's disclosure allows ~45 days 'grace period' in the event of reverting back to the previous product.

End of 2020. I didn't want to pay the annual fee and was beginning my downsizing tantrum so I just cancelled anyway.

Re: Citi Premier Downgrade Options?

FinStar — Mon, 07 Mar 2022 19:33:24 GMT

@wingennis wrote:
@FinStar wrote:
@wingennis wrote:
It took 2 months for the product change to happen. Annual fee NOT waived.
Interesting. How long ago was this?

IME, anytime I downgraded any Citi products, the AF was adjusted, product changed on the Citi portal almost immediately and replacement card arrived within a week or so. Typically, the T&C's disclosure allows ~45 days 'grace period' in the event of reverting back to the previous product.
End of 2020. I didn't want to pay the annual fee and was beginning my downsizing tantrum so I just cancelled anyway.

I see.

Typically, (unless they change internal policies) as long as you contact them within 30 days from the AF posting + convey your downgrade intentions, Citi is pretty flexible for adjusting the AF. Sometimes it may take a follow-up phone call to make sure the adjustment goes through, especially if the downgraded product does not have an AF.

Re: Citi Premier Downgrade Options?

FinStar — Mon, 07 Mar 2022 19:34:45 GMT

@simplynoir wrote:
@MrDisco99 wrote:
And yes, downgrading does reset the 24-month clock. I always keep the Premier for two years, then sign up for a new one, then downgrade. Even at 1cpp, the signup bonus is always worth keeping the card for an extra year to get it again.
You kept the current Premier and were able to apply for another? If so I did not know that was possible. I always assumed they played by Chase rules regarding that i.e. if you have a current Sapphire product no approval for others

Yup, I had multiple at one point even when one of them was still on the AmEx network.

Re: Citi Premier Downgrade Options?

ZxMarsxZ — Wed, 09 Mar 2022 06:34:57 GMT

Thank you everyone for your replies. I've decided to pay the AF and keep the card this year. It's a small fee to pay for another bonus next year. Hopefully the 80k offer will come back then.