krazykanuck

I think many of us wish that; unfortunately the people at Citi can't leave well enough alone.

Adelphos

AA seems to want to make airline specific benefits exclusive to its own cards, so I think it was unrealistic to expect Admirals Club access to remain. People complain about Amex Platinum losing various club access too, but that is due to airline mergers, not Amex.

I was actually planning to apply for Citi Prestige because it had a leading dining spend bonus. But I would guess that was a money loser in cities like New York; card issuers seem reluctant now to introduce new big apend bonuses

lsquare

This was one of the best card on the market. It's a shame that Citi went ahead and destroy whatever value there was in the card. I wish they would compete harder against Chase and AMEX in the ultra-premium segment

It's not a huge loss since ACs are crap, but would have been nice to have. Which lounge did AMEX lose access to?

Why would the Prestige be a money loser in New York? Fortunately for me, I got the Prestige and I love using the 5x dining category there.

GTITAN

I am glad I got the Prestige. I got it after it was gutted, but it still has a few nice perks so as the 5x when booking travel agencies and the 3x when booking hotels and fairly frequent 5x promo spend. I wonder if this is just a full retreat from the premium card market or just a refurbish? With Citi, ya' never know.

Safe Travels

lsquare

If Citi leaves, then I think Chase and AMEX are the only players left in that segment?

GTITAN

Yes, as to points based cards, think so.

Adelphos

Apparently Amex Platinum used to provide US Air, Continental and American club access as well (not sure if they always provided all of those).

In NYC, you probably have a bunch of people charging expensive dinner and bar tabs, getting a lot of rewards back at 5x, and paying in full. Chase has complained about the profitability of Chase Sapphire Reserve, I imagine Citi Prestige may be worse

GTITAN

Is there any other (better) way to do it?

Safe Traels

voodoogirl

Got a new Prestige offer in email. I wish they weren't so stingy with the $500 max.

Use your card to earn 5 ThankYou® Points per $1 spent, up to 2,500 points, through 09/30/2021 on eligible purchases¹ you make at:

• Grocery Stores
• Drugstores
• Gas Stations
• Mass Transit & Commuter Transportation Vendors

This offer excludes purchases made at discount stores.

Regarding the devaluation upthread, I remember the days of Flight points, discounted airfare and international companion tickets, I got to go to Hawaii and Paris on those.

moe8555

I'd just like to share a DP that I was just approved via one of the "ghost" links that are still active.

The way I see it, they're either going to be somehow improving the card (and possibly raising the fee, in which case I'm locking in better benefits at the old fee) or truly shelving it, in which case I'll be happily grandfathered at a $245 net fee with 5X categories and a PP that includes restaurants and unlimited free access for my immediate family. As we all know, AFs are only going up with Amex Plat at $695 and CSR at $550, so this seems like a solid hedge. Year 1 is essentially free with 2X $250 credits, so even if Amex or Chase were to alter their multipliers or benefits to make Prestige less worthwhile, I can let it go with no real loss (except for a HP).

Plus, I have to admit that Citi has been quite on the ball with their 5X/$500 offers every 2-3 months. My friend with Prestige gets these offers far more frequently than me with Premier/Rewards+.

moe8555

Without going into too much detail, but from a phone call with an internal source at Citi credit cards division (not a generic customer service representative).

In thinly-veiled political speak that left very little room for interpretation, it was made clear that Prestige will not be coming back, but existing holders could retain the card. A new product should be released shortly that combines all the best features of other cards in Citi's portfolio, a card "somebody like me" (that has Citi Prestige, Premier and Rewards+) "would like very much."

Take this as you see fit, but to my credit - I'm not a one-post wonder

dw

So it sounds like maybe a card with a high AF but also with good point multipliers? Any hints at whether it might also have premium benefits to go along with it?

jags86

I have a hard time believing they’re going to better the Premier from a points earning perspective. What are they going to do? Increase 3x airfare to 5x airfare?

I think the Prestige simply was a money loser for Citi, even accounting for all the devaluations. So few people probably have it that the ones who do only did so because they were net positive on the card (maxed 4th night free benefit, only used the card for 5x dining, etc.).

It’s hard to make money in the premium card market, especially with all the “smart” users out there like us We should be thankful that AMEX does coupon books stuff. That has enough breakage to make the cards profitable. Even if it’s a pain, people who maximize can get some decent, if not all out insane deals.

dw

Not to mention that Amex is paying very little, if anything, to fund some of those credits.

moe8555

I'm not sure I agree. The fact is, the vast majority of people out there either carry a balance, don't maximize earnings -- or both. My father has Prestige, for example, and it's his one card wallet for everything. He doesn't want to deal with the card shuffle game, and I've learned to accept that. At least I can rest easy knowing any dining and most travel charges are fully maximized, and whenever he gets a 5X/$500 promo email, that certainly helps too.

The last iteration of the card that allowed for unlimited 4NF via concierge -- that's a different story.