RUMOR: Citi Custom Cash to be discontinued

[crystal626]

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@ElvisCaprice wrote:

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@crystal626 wrote:

I'm not surprised at all. Nice to see they'll let those of us who have the card keep it for now. Citi tends to allow grandfathered cards for long periods of time so maybe they'll force all of us who PC'd additional cards down to just having one eventually and let us keep it.

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You would think, Crystal, with just a $500 spend 5% cap per month that it wouldn't cost Citi much to keep it around for a long time, grandfathered.

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Lots of people are gaming the 5% which means they're not making as much money on it as they would otherwise. I mean just look at how many of us have multiple Custom Cashes. Lenders are tightening up and bracing for the economy to crash, costly rewards are the easiest thing to axe.

[ElvisCaprice]

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@crystal626 wrote:

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@ElvisCaprice wrote:

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@crystal626 wrote:

I'm not surprised at all. Nice to see they'll let those of us who have the card keep it for now. Citi tends to allow grandfathered cards for long periods of time so maybe they'll force all of us who PC'd additional cards down to just having one eventually and let us keep it.

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You would think, Crystal, with just a $500 spend 5% cap per month that it wouldn't cost Citi much to keep it around for a long time, grandfathered.

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Lots of people are gaming the 5% which means they're not making as much money on it as they would otherwise. I mean just look at how many of us have multiple Custom Cashes. Lenders are tightening up and bracing for the economy to crash, costly rewards are the easiest thing to axe.

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Could be, but I think it's more to do with Citi realizing they could move this CCC 5% reward structure to an AF CC as an add on.  Why give it away for free?

[crystal626]

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@ElvisCaprice wrote:

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@crystal626 wrote:

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@ElvisCaprice wrote:

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@crystal626 wrote:

I'm not surprised at all. Nice to see they'll let those of us who have the card keep it for now. Citi tends to allow grandfathered cards for long periods of time so maybe they'll force all of us who PC'd additional cards down to just having one eventually and let us keep it.

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You would think, Crystal, with just a $500 spend 5% cap per month that it wouldn't cost Citi much to keep it around for a long time, grandfathered.

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Lots of people are gaming the 5% which means they're not making as much money on it as they would otherwise. I mean just look at how many of us have multiple Custom Cashes. Lenders are tightening up and bracing for the economy to crash, costly rewards are the easiest thing to axe.

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Could be, but I think it's more to do with Citi realizing they could move this CCC 5% reward structure to an AF CC as an add on.  Why give it away for free?

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Both of our reasons have the same conclusion - it's not profitable enough for them in the current incarnation.

[E36]

Could be, but I think it's more to do with Citi realizing they could move this CCC 5% reward structure to an AF CC as an add on.  Why give it away for free?

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I think Chase really gives a model for them worth following. Their brand refresh with Strata. Their simplification of products. If they can follow Chase (who followed Amex) in AF CCs and travel/premium awards, then they can compete more for the future.

Citi's Double Cash was a big deal when they released it but since then a lot of other creditors have offered better 2% or higher flat cashback cards.

Travel cashback and points give an intrinsic value and attracts a different demographic.

Its following the Chase, Amex Playbook. Both have the major airline and hotel partners

Chase - United, Southwest,  Hyatt, Marriott, IHG

Amex - Delta, Hilton, Marriott, Member Rewards

Citi - American Airlines, Thank You Rewards

itll be a matter of time.

[redpat]

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@E36 wrote:

Could be, but I think it's more to do with Citi realizing they could move this CCC 5% reward structure to an AF CC as an add on.  Why give it away for free?

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I think Chase really gives a model for them worth following. Their brand refresh with Strata. Their simplification of products. If they can follow Chase (who followed Amex) in AF CCs and travel/premium awards, then they can compete more for the future.

Citi's Double Cash was a big deal when they released it but since then a lot of other creditors have offered better 2% or higher flat cashback cards.

Travel cashback and points give an intrinsic value and attracts a different demographic.

Its following the Chase, Amex Playbook. Both have the major airline and hotel partners

Chase - United, Southwest,  Hyatt, Marriott, IHG

Amex - Delta, Hilton, Marriott, Member Rewards

Citi - American Airlines, Thank You Rewards

itll be a matter of time.

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Citi is already there.

The fact that citi offers AA exec card w/ their strata premier 10x and 3x categories makes for a great combination since it's 1:1 transfer to AA and other transfer partners.  AA hotels site, citi and chase travel sites are becoming more competitive with Hilton, Marriott and Hyatt, in addition you can get some good deals with many independent hotels and condos on these sites.  The only thing I book direct are flights and rental cars.  Hotel status has been so watered down, everyone is either gold, platinum or diamond and their points have been devalued, just recently Hyatt.

The only card I'm considering getting back is Amex Plat since some of the changes interest me now.

Lol, travel cashback is an oxymoron.....

[5PercentIsTheFloor]

People on the other site are saying Citi CS told them card applications were being shut down due to abuse. Apparently people with multiples are going to be reviewed because that runs contrary to the intention of the product. 

No confirmation at this point, obviously, but I wouldn't be surprised based on recent history of Citi. This is a completely different scenario than the Citi Dividend, no individual had 5x of the Citi Dividend when it was removed from the lineup. 

Don't shoot the messenger. 

[redpat]

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@5PercentIsTheFloor wrote:

People on the other site are saying Citi CS told them card applications were being shut down due to abuse. Apparently people with multiples are going to be reviewed because that runs contrary to the intention of the product. 

No confirmation at this point, obviously, but I wouldn't be surprised based on recent history of Citi. This is a completely different scenario than the Citi Dividend, no individual had 5x of the Citi Dividend when it was removed from the lineup. 

Don't shoot the messenger. 

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Good call, they are also shutting down AA accounts.  

Lol, Citi must have a RAT squad, hmmm, Amex....

https://www.doctorofcredit.com/american-airlines-shutting-down-accounts-recreated-accounts-from-toby...

[Vinjints]

That would make a lot of sense. If multiples were never the intention, maybe shutting them down will allow the orginials to stay around longer. Surpised they allowed it to go on for so long if they truly had an issue with it, though.

[bs1234]

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@ptatohed wrote:

The fact that the citi Dividend is still grandfathered tells me citi is pretty good about "grandfathering".  The Dividend actually requires citi to advertise categories every 3 months.  I hope/trust that the Custom Cash will be grandfathered.  But, what a shame.  It is (was) an awesome, flexible, versatile card for 5%.  And the fact that one can hold multiple CCs?  Amazing!  

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Yes, it is interesting that they still support the Dividend because, as you say, that  is actual work for them.   But they don't always grandfather for long.    The amazing Citi Forward (RIP) was blocked to new apps, then nerfed into a useless product, then force converted.

[odd_dog]

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@bs1234 wrote:

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@ptatohed wrote:

The fact that the citi Dividend is still grandfathered tells me citi is pretty good about "grandfathering".  The Dividend actually requires citi to advertise categories every 3 months.  I hope/trust that the Custom Cash will be grandfathered.  But, what a shame.  It is (was) an awesome, flexible, versatile card for 5%.  And the fact that one can hold multiple CCs?  Amazing!  

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Yes, it is interesting that they still support the Dividend because, as you say, that  is actual work for them.   But they don't always grandfather for long.    The amazing Citi Forward (RIP) was blocked to new apps, then nerfed into a useless product, then force converted.

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and the rewards plus card was FORCED into a strata card so, so much for grandfather.......LOL

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