Citi Premier Downgrade Options?

[ZxMarsxZ]

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.

[Hoben02]

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

[FinStar]

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@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.

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

[wingennis]

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

[FinStar]

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@wingennis wrote:

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

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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.

[Citylights18]

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.

[MrDisco99]

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@wingennis wrote:

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

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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.

[simplynoir]

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@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.

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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

[MrDisco99]

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@simplynoir wrote:

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@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.

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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

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Yep.  Citi doesn't care.

[wingennis]

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@FinStar wrote:

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@wingennis wrote:

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

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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.

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