Diners Club Club Rewards - The New Diners Club

Has anyone heard when BMO is going to roll-out the new Diners Club card? I haven't heard or seen a thing. I am anxious to see what all changes they will be making. I'm sure that they will at least have to replace our cards with new ones showing the BMO logo instead of Citi.

Nada here.

Haven't heard much here. I was talking to a guy from US Bank in Minneapolis who was speculating that we wouldn't see much change to the card or program here - that it was mostly just a change in the owner of the program. I'm curious if we'll see improvements or further degradation of the program...

Not what you are looking for, but this article:

http://www.tradingmarkets.com/news/stock-alert/bmo_bmo.to_ry_ry.to_td_td.to_bns_bns.to_bank-of-montreal-q1-profit-almost-triples-update-815714.html

...confirms that Bank of Montreal is already the owner of the North American Diners Club franchise, and it contributed to revenue growth in their first fiscal quarter:

Revenue increased 12% from last year to C$1.41 billion, driven by volume growth across most products, improved net interest margin, the inclusion of one month of Diners Club revenues in the financial results, as well as higher loan and deposit fees. The company said that on December 31, 2009, it completed the acquisition of the Diners Club North American franchise from Citigroup Inc. (C).

They certainly haven't changed the website in the US - stills clearly says "Citi" on it. Also has a link to Citi.com.

Not what you are looking for, but this article:

http://www.tradingmarkets.com/news/stock-alert/bmo_bmo.to_ry_ry.to_td_td.to_bns_bns.to_bank-of-montreal-q1-profit-almost-triples-update-815714.html

...confirms that Bank of Montreal is already the owner of the North American Diners Club franchise, and it contributed to revenue growth in their first fiscal quarter:

Revenue increased 12% from last year to C$1.41 billion, driven by volume growth across most products, improved net interest margin, the inclusion of one month of Diners Club revenues in the financial results, as well as higher loan and deposit fees. The company said that on December 31, 2009, it completed the acquisition of the Diners Club North American franchise from Citigroup Inc. (C).

...website in the US - stills clearly says "Citi" on it. Also has a link to Citi.com.

Correct. The original announcement of the sale mentioned that Citi would continue to administer the accounts until Bank of Montreal is ready to assume operational control. The encouraging aspect is that the sale closed 90 days ahead of schedule.

I would expect a letter from BMO shortly and they will have to replace our cards with new ones showing the BMO logo instead of Citi. I'm sure they are probably working out the details as we speak.

I have a newly issued card (euros, Ireland) and it has the "Discover" & "Pulse" logos on the back.

They certainly haven't changed the website in the US - stills clearly says "Citi" on it. Also has a link to Citi.com.

As a side note, the diners website is pretty horrible. Not very user friendly and for some reason it seems to take forever for transactions to post (corporate card experience only). I usually don't see transactions post for 3-4 days whereas they post almost immediately on chase/capitalone cards that I have. Anyone else experience this?

As a side note, the diners website is pretty horrible. Not very user friendly and for some reason it seems to take forever for transactions to post (corporate card experience only). I usually don't see transactions post for 3-4 days whereas they post almost immediately on chase/capitalone cards that I have. Anyone else experience this?

Yes, but honestly Citi has been trying to sell Diners Club for some time (even before the Great Recession started). Therefore, they haven't put much effort at all into the website or the product for several years.

Hopefully, BOM is trying to come out with a suite of products that revives this brand name. They have to position this higher than the basic AMEX card or reduce the fee. I say keep the fee the same and build on the benefits side.

As of this week, when I sign into CitiBank online banking for checking and linked accounts, my linked Diners Club now says "balance information not available." In the past I was always able to see my balance and all the detailed activity. Now must log in to DC site to see activity. Looks like Citi is moving toward making the divorce formal!

I say they model the new card, the same way they modeled the old card, get rid of the MC, and go back to charge card of the 80's, use the Discover US network to expand in North America and re-vamp.

Carte Blanche - Double Platinum features, a Centurion-type card with out the cost and exclusivity, but with great benefits.

Diners Club - Platinum features

...get rid of the MC...

Bank of Montreal press release:

Diners Club cards continue to be issued under the MasterCard acceptance brand

Mike Kitchen, Senior Vice-President, Personal & Commercial Banking, BMO Bank of Montreal, said, "Diners Club is recognized around the world as a premier card program for employee Travel & Entertainment expense cards. Acquiring the North American franchise offers the best of both worlds for BMO, combining the benefits of worldwide MasterCard acceptance and the strength of Diners' capabilities and highly regarded rewards program."

http://www.prnewswire.com/news-releases/bmo-financial-group-announces-agreement-to-acquire-the-diners-club-north-american-franchise-from-citigroup-72425387.html

Migrating USA and Canadian cards to the Diners Club processing network would only make financial sense if Discover were able to persuade merchants to accept a higher discount rate for Diners transactions. The corporate accounts are the interesting part of the aquisition, the number of personal accounts is tiny. I think the Mastercard acceptance is a key feature to wooing corporate accounts away from American Express etc.

Letter from BMO arrived today regarding the takeover. Not really much to add to what's already been posted here except that now there are no ABM surcharges using the DC card at Bank of Montreal and Harris bank ABM's.

One area AMEX and Diners need to take care of is the elite program status features of their premium products. I really don't see the point in marketing Diners as a Mastercard. It's just a Mastercard at that point, severely diluting the Diners brand.

... don't see the point in marketing Diners as a Mastercard. It's just a Mastercard at that point

The point is acceptance. Citi could not increase Diners acceptance to match American Express, but changing to Mastercard allows corporate cardholders to use Diners for 100% of their spending. Diners is primarily a card for corporate accounts. The personal cards do not drive decision making.

Informed rumor suggests BMO will begin making major pushes in early fall. Prior to that there's a lot of integration work going on. Since the DC brand has franchisses around the world that are not participants in the MC acceptance in NA, non-NA Diners Club cards are not necessarily processed as MC. BMO allegedly plans to make MC the premium version for it's corporate and consumer customers.

It should be very interesting.

It should be very interesting.

BMO has had its credit card loyalty wagon firmly hitched to the AirMiles program for many years.

And although the AirMiles program has served me well, I suspect that BMO realizes that it does not compete with some of the premium VISA or AMEX products. Particularly for those high rolling customers who demand a wide variety of travel perks from their credit card.

As a long time customer of both BMO and Diners Club my hope is that BMO will enhance the Club Rewards program to compete with other premium products currently on the market.

It should be interesting indeed.

"THE NEW PHONE BOOK'S HERE!":D

Got my welcome letter today from BMO Financial Group.
Says their mission is to be the bank that defines great customer experience ... then goes on to say Club benefits associated with the card have not changed;):D.

Whatever:rolleyes:; I'm looking forward to BMO after Citi:).

I received yesterday correspondence from BMO re: Diners Club. In brief it indicates that we can continue to use Diners Club with no changes including online statements

Citi will continue to support through the transition period.
There will be no ABM charges when using Diners Club at BMO or Harris Bank ABM machines.

The BMO logo will begin to appear on Diners statements and other correspondence.

There will be an announcement or unveiling in June according to my son-in-law who is on the BMO team working on the transition.

He indicated that I will be pleased with the changes.

Cheers :)

He indicated that I will be pleased with the changes.

I am guessing that your Diners Club account is Canadian? (My guess is based on the use of ABM rather than ATM.) It would be terrific if the Canadian Club Rewards program were brought into parity with the USA version, both in the transfer partners and the transfer ratios. This would also give me confidence that the USA version would remain essentially unchanged ^ .

BMO has had its credit card loyalty wagon firmly hitched to the AirMiles program for many years.

And although the AirMiles program has served me well, I suspect that BMO realizes that it does not compete with some of the premium VISA or AMEX products. Particularly for those high rolling customers who demand a wide variety of travel perks from their credit card.

As a long time customer of both BMO and Diners Club my hope is that BMO will enhance the Club Rewards program to compete with other premium products currently on the market.

It should be interesting indeed.

BMO recently released a new top-tier Mastercard in Canada that offers its own reward scheme:

BMO Elite Rewards World Elite Mastercard (http://www.bmoelite.com/)

They are certainly taking a few steps away from AirMiles at the high-end of their offerings. Maybe this new card's scheme offers a glimpse of what may be in store for DC in the future?

Maybe this new card's scheme offers a glimpse of what may be in store for DC in the future?

Ack! I hope that Bank of Montreal understands that a proprietary points program is fundamentally different than Club Rewards. I would much rather continue to have the ability to transfer to airline frequent flyer programs. It is my experience that proprietary redemption programs, in which the card issuer must buy anirline tickets, cannot sustain the same value as a program where they buy and award miles instead. I also value the ability to pool miles earned through various channels.

Yes it is Canadian. I did not know that it is ATm in the USA and ABM in Canada.

did not know that it is ATm in the USA and ABM in Canada.

Nor did I until I encountered the difference in this thread. In the USA an ABM is an anti-ballistic missile, rather than an automatic banking machine.

I received yesterday correspondence from BMO re: Diners Club. In brief it indicates that we can continue to use Diners Club with no changes including online statements

Citi will continue to support through the transition period.
There will be no ABM charges when using Diners Club at BMO or Harris Bank ABM machines.

The BMO logo will begin to appear on Diners statements and other correspondence.

There will be an announcement or unveiling in June according to my son-in-law who is on the BMO team working on the transition.

He indicated that I will be pleased with the changes.

Cheers :)
Got my letter yesterday too (US-based) with the DC International logo instead of citi's italicized logo. Looking forward to better integration with the international network as well as an improved program. When I got my card in 2005 the Club Rewards program was still largely the way it was when I had a DC Corporate card in the late 90s (e.g., almost all US airlines participated, points for merchandise was cheaper than AMEX, etc.) but in the last few years airlines have dropped out (presumably because of Chase & Jamie Dimon's hatred of Citi...they allow Continental to remain part of AMEX's program but not Diners?) and merchandise is more expensive than AMEX. I like the card and hope BMO returns it to be at least competitive with AMEX.

In the USA an ABM is an anti-ballistic missile, rather than an automatic banking machine.

Certainly wouldn't want to get those two mixed up !

I'm Canadian and I have always referred to bank machines as ATM's. Quick survey in my office confirms that the term ATM is commonly used in Canada, at least in the West.

Is it worth considering transferring points out of DC into a FF mileage account from now before any terms change, or would they have to give notice if they plan to make drastic changes to the terms, allowing people a chance to redeem points or transfer them elsewhere?

Also wondering if any news about the points/rewards structure? I have 100k+ points sitting in the account and wondering if they should be redeemed now before any major changes take place that might devalue them. Anybody have insight?

Also wondering if any news about the points/rewards structure? I have 100k+ points sitting in the account and wondering if they should be redeemed now before any major changes take place that might devalue them. Anybody have insight?

I'm wondering the same thing and have 150K+ points collecting dust.

I'm wondering the same thing and have 150K+ points collecting dust.

Based on past experience with the DC Club Rewards program ( Canadian version ) I don't think you have to worry about drastic changes with no notice. The last time any significant changes were made I believe we received 4 - 6 weeks notice.

My opinion only, not based on any inside information.

Personally I am going to hang on to my DC points with the hope that BMO improves the program.

If any of you have a bunch of DC points that you really don't know what to do with you are welcome to transfer them to my AAdvantage account. :)

I really hope that BMO brings back the Carte Blanche card on its own merits. If they are using the DC card as the corporate product then it would make sense to market the CB card as the personal travel & entertainment card.

In the USA Citi positioned Diners to compete with American Express Green and Carte Blanche to compete with American Express Platinum, but the Carte Blanche version was never compelling. The incremental benefits over Diners Club seem minor.

Based on past experience with the DC Club Rewards program ( Canadian version ) I don't think you have to worry about drastic changes with no notice. The last time any significant changes were made I believe we received 4 - 6 weeks notice.

My opinion only, not based on any inside information.

Personally I am going to hang on to my DC points with the hope that BMO improves the program.

If any of you have a bunch of DC points that you really don't know what to do with you are welcome to transfer them to my AAdvantage account. :)

Good to hear from somebody who has experienced the change already - thanks. Perhaps I will hang on to them for a bit and see if the program does improve. As long as they give a little notice, guess I can always dump them out on various gift certificates if the new program is no good.

I really hope that BMO brings back the Carte Blanche card on its own merits. If they are using the DC card as the corporate product then it would make sense to market the CB card as the personal travel & entertainment card.

sorry for the stupid question, but if they would make it a carte blanche, then can we still use it where mastercard is accepted? The only reason I never (and will never) carry discover or amex cards is because the last thing i want to worry about when going into a store is whether they accept my card or not. I have never had this problem with my diner's club mastercard... In fact, even though I have a backup card in my wallet, I have never used any card (for my day to day purchases) except the DC card.

...if they would make it a carte blanche, then can we still use it where mastercard is accepted? ....

The current Carte Blanch card issued in the USA uses Mastercard network. It's just a slightly upgraded version of the Diners Club card:

https://www.dinersclubus.com/dce_content/clubrewardsandbenefits/benefits/carteblanchepersonal

Of course it's possible that Bank of Montreal could choose to offer two cards, one processed by Mastercard and a separate product processed by Discover/Diners Club International but I cannot think of a compelling reason.

How long before they start accepting applications...

Just from reading FT, it seems online apps have been non-existent since 2005

It appears they have shortened the grace period. Previously, payments were due by the date that the account closed for the month. Now, the due date is four days prior (at least for me).

It appears they have shortened the grace period. Previously, payments were due by the date that the account closed for the month. Now, the due date is four days prior (at least for me).

nope, you're not the only one... same here :(

Migrating USA and Canadian cards to the Diners Club processing network would only make financial sense if Discover were able to persuade merchants to accept a higher discount rate for Diners transactions. The corporate accounts are the interesting part of the aquisition, the number of personal accounts is tiny. I think the Mastercard acceptance is a key feature to wooing corporate accounts away from American Express etc.

Actually, in the U.S. most merchants are setup on tiered discount rates for different cards. For example, there is a qualified rate, mid-qualified rate, and non-qualified rate. The lower qualified rate is the rate the sales rep told the merchant about and only applies to simple non-rewards cards. The higher mid-qualified and much higher non-qualified rate is what merchants pay a large percentage of the time in reality, sometimes without realizing it. Rewards cards always use the mid-qualified or non-qualified rate, regardless of whether it is a MasterCard, Visa or Discover Network Card.

(Notice I didn't say Diners Club network card. In North America, Diners Club would be considered a MasterCard when issued in North America, and considered a Discover Network card if issued overseas. Technically, there really is no such thing as a Diners Club network in North America anymore. And one could even argue that with Discover's purchase, Diners Club network is now just part of the Discover Network with different branding.)

So, even though your Diners Club has a MasterCard logo on it does not mean merchants are paying a qualified rate similar to non-rewards card MasterCards. A MasterCard rewards card (such as the Diners Club MasterCard or one of Citi's or Chase's rewards cards) could actually cost the merchant more at a non-qualified rate than what American Express charges for a discount rate, depending on what rates are in place for the merchant.

Also, it should also be noted that many larger payment processing companies like First Data are going to a pricing structure where MasterCard, Visa and Discover Network (which includes Diners Club, JCB and China UnionPay) all have the same rate structure. So whether the Diners Club card is on the Discover Network or MasterCard network will not effect the price the merchant pays in many cases. Of course, this may vary greatly based on which payment processor the merchant uses. But, like I said, the trend is going towards a united rate structure for all cards except American Express (which still administers its own program separately).

And acceptance is becoming a smaller problem because most of the larger payment processing companies in the U.S. now turn on Discover Network acceptance automatically when the merchant applies to accept Visa and MasterCard. In fact, many merchants now accept Discover and don't even know it, since their payment processor simply turned on Discover Network, Diners Club, JCB and China UnionPay without much merchant education. Over time, Discover will be as accepted as MasterCard and Visa and they are making huge inroads.