According to DoC it's as good as dead.

Sad to see it go
 

Back in 2015/2016, Citi Prestige was THE card to have with a ton of great benefits...and then death by a thousand (benefit) cuts.

I haven't used my $250 credit yet, wonder if I should just grab a gift card now. Just paid my annual too, hoping to get $250 this year and again in January, if we get to keep the card that long.

Further detail I was able to obtain:

- It is a product discontinuation, not refresh.

- Citi currently has no further plan to impact existing customers, i.e. existing customers will be able to keep their cards for now.

- Last Date of Application will be August 18. All applications received on or after August 19 will not be processed.

Would you mind giving me some credit? :p

FWIW - even DoC does not know this and make no attempt to verify until my OP, which DoC does give me the credit as well.

What "death"? The Prestige is the single greatest travel credit card of all time, period. The 4th night free benefit cements it, and really, the card could lose every other benefit and still retain status as the GOAT. I am averaging between $3000 and $4000 worth of travel credits annually from the 4th night benefit alone.

This has been one of my all time favorite cards - $350 fee with retention bonus worth at least $350 every year for last 3 years. I have the old Citi Professional TYP card which I believe is no longer offered since last few years - but they've kept it with same bonus earnings so I am hoping Prestige remains for those who have it. $50 for AU Priority Pass is also a great deal.

DoC updated his post. Citi reached out to officially say that the Prestige will not be cancelled. Woohoo! Looks like it's getting revamped.

Mmm, I don't think we're out of the woods yet. Technically it could just mean they aren't issuing it anymore, and some new card appears in its place.

To quote DoC quoting Citi official statement:

"Our go-to-market strategy continuously evolves to feature different products and offers. We remain committed to the Prestige product and servicing our valued existing cardmembers. We look forward to reintroducing the card for new cardmembers in the near future."

It looks pretty clear to me that current card members should not be worried and that also the card is getting a refresh soon instead of being discontinued perpetually.

Such as PR disaster from Citi.

As the OP, there is no doubt that this news was accurate that Citi intended to axe the card (it has been verified for third-parties including DoC). Now, because of the so-called popularity, Citi changed its mind.

Citi has scared enough people. Not sure how Citi can react on this.

BTW - I believe Michael Corbat owes me a thank you at the minimum.

I highly doubt that the (very consequential, involved, complicated, etc) process of cancelling their flagship card was suddenly reversed based on the mild outcry from the Flyertalk forums and a few credit card blogs. Much, much more likely ----> this was a refresh all along.

FWIW - just because Citi Prestige is a premium card does not make it a flagship card, similar to CSR (Chase's flagship is in fact CSP). I would have to say TY Preferred sounds like a better winner.

Also - before the Citi's statement, even DoC's reliable source pointed toward the discontinuation. When I respect your POV, the circumstance is still not convincing for a refresh.

This is clearly the case. That said, I would still fear reduced benefits for new applicants and existing cardholders from this "refreshed" product.

As I've said before, they could axe the airfare credit, bonus spending categories, priority pass, keep the fee at 450, etc etc etc. I would still keep the card happily for the 4th night benefit alone. It would just be slightly less fantastic.

this benefit is the most likely target to be reduced/cappe based on their survey