Citi suspends USA Prestige card applications August 2018
[NOTE - This post is edited to reflect the confirmation of the news.]
Declaimer - this has been now confirmed. I was told by a Citibank banker that Citi will stop accepting Citi Prestige Application as of 8/18. The banker did not discussed anything further regarding this nor sharing any written materials regarding this as well. When I was skeptical about this news (in fact I was skeptical about the banker as well), AFAICT, Citi has a tendency to do something like this, which makes this news plausible (and now confirmed). It can mean many things if this turns out to be true. However, the worst case scenario could mean this card would be discontinued very soon. For those of you who want the card, it is now or never. |
So they plan on having no competitor to the CSR or Amex Plat?
That seems strange. |
Originally Posted by akr1970akr
(Post 30044397)
So they plan on having no competitor to the CSR or Amex Plat?
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Most likely a refresh imo. 3x dining/travel |
Having recently (i.e., within 24 months) opened a Thank You Premier won't impact getting the bonus on the Prestige will it? I just applied (still pending, don't yet know if I'm approved) for the 60k offer on the Premier. If they do refresh the Prestige, maybe there will be a nice sign up bonus too.
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Originally Posted by mia
(Post 30044435)
-OR- they are refreshing the product.
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Reminds me of the Chairman Card
One of my favorite travel hacks. Used 60k TY points (in their infancy) to get 2 x tickets to Kazakhstan. Purposefully got the most expensive economy ticket, each worth about $9k. Didn't use them and bought 2 x Circle pacific business class on star and had the rest to buy tickets on united over the next year or two. Unfortunately I think those days are gone..
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Originally Posted by jayzee9
(Post 30044982)
One of my favorite travel hacks. Used 60k TY points (in their infancy) to get 2 x tickets to Kazakhstan. Purposefully got the most expensive economy ticket, each worth about $9k. Didn't use them and bought 2 x Circle pacific business class on star and had the rest to buy tickets on united over the next year or two. Unfortunately I think those days are gone..
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Originally Posted by mia
(Post 30044435)
-OR- they are refreshing the product.
AAdvantage Platinum was recently refreshed and Citi didn't pull the application. There's simply no need to stop applications just for a refresh |
While not impossible, I'd bet against a serious refresh. Maybe some little changes, but not necessarily good on balance. Maybe customers will get 3x on dining, or 3x on all travel...but not get more transfer partners...and maybe 4th Night Free will be capped in some new way.
There has been no public bonus offer since December 2017. Retention bonuses have been non-existent to mediocre. That doesn't suggest to me they want to attract or keep customers. Citi announced the meganerf (Admirals access, 4th night taxes, golf) more than two years ago. Why wait so long? What could they possibly be working on? They've been losing customers steadily, so I would think they'd have put something together by now. They've lost Hilton cards and lost exclusivity (for new cards) with AA, so cobrand perks may not be likely. *But I'd love to be wrong! Even without a bonus, my Double Cash could go back to being a Prestige if the perks were right. |
My thoughts are they are planning a full card refresh based on the survey they conducted around September 2017 which is why they are planning to close card applications. They likely are making significant changes that they want to have in place a mechanism to auto deny all applications for the prestige that exist from zombie links. After all, we are talking about Citi who is notorious for having zombie links for months and sometimes years after a promotion has ended so being able to weed out these links with the old terms will be crucial if they are planning a full refresh.
If I had to guess, I think the card will have the following benefits:
Please note that this would not be my ideal card but what I think Citibank is leaning towards based on the survey questions I saw posted online. |
I think "roundup" would lead to frequent Amazon $0.51 reloads...would be interesting to see how long it would take them to stop that.
10 cents per debt transaction stopped working for Discover. |
Originally Posted by Joe1690
(Post 30045366)
...If I had to guess, I think the card will have the following benefits:
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I sure hope they don’t cap the 4th night free credit. After the downgrade of the travel insurance I’ve moved all my airfare spend to the CSR so 4th night free hotel nights are about the only thing I’m still putting on it. |
It seems like they have to do something about point value if they want to make money. They need some point use that is cheap for Citi to provide but gives many customers a good value with convenience.
Sure, some FTers can use TY's exotic transfer partners...but they are probably the same people who book a lot of 4th nights free. For normal people...profitable people...people who have one main card and don't make a lot of benefit claims or seek retention...TYs can be a hassle. 3 x 1.25 cpp will struggle to challenge 3x Hyatt/United/BA/etc...even though the latter can cost an issuer less. |
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