SOhp101

I'm not completely sure, but I believe the diamond card gives you thank you points instead of cash back. You can get gift cards, so it's almost like getting cash back.

pushback

It's over boys and girls. Let's let the thread die of natural causes while it still has dignity.

ohmark

Well, if the Citi Diamond Dividend card is what this thread is about, then you're wrong if you are implying that the 5% for drug/gas/supermarket has been eliminated for all. As of yesterday, I confirmed with customer service that nothing has changed on my card; that I still receive the 5%. In response to another posting, the 5% is a cash--not points-rebate.

themicah

I've never heard of the Citi Diamond Dividend card. This thread is about the Citi Dividend Rewards Card. Other people thought you were referring to the Citi Diamond Rewards Card, which gives points (not cash back).

Where/when did you get this Citi Diamond Dividend card?

ohmark

When Citi discontinued the ATT Universal Card that paid 5% cash rebates (gas, groceries/drugs) I called Citi and switched. At the time I thought the name of the card I was switched to was the Citi Diamond Dividend Platinum Select card. Now, when I pulled the card out of my wallet, it says, "Citi Dividend Platinum Select". I am not confused that my card still pays the 5% rebate as I have checked that a couple of times, including yesterday with Citi customer service. As to the designation "Diamond" I am almost certain that's what I was told by Citi when I switched. But the face of my credit card just says "Citi Dividend Platinum Select". The "member since" language on the face of the card shows a date from the early 1990's, when, I assume, I secured my original ATT Universal card.

The reward structure is points earning whereby you can choose either a cash rebate or gift cards at designated merchants. The customer has to initiate the rebate process by having enough points for at least a $50 rebate check. The points convert to rebate cash at 1%, but you earn 5 points per dollar at the usual grocery/gas/drug stores.

Trying not to confuse. Hope this is helpful.

acf573

You got converted to the Dividend Platinum select card (not Diamond Preferred).

Not everyone with the DivPlat card has gotten downgraded to 2% status. Supposedly new cardholders aren't being converted (yet). And I know of a few people personally who use their DivPlat card for everything (instead of only in the 5% category) and have had the card for a number of years and they are still on 5%. It could be random or it could be they're keeping the profitable customers at 5% and kicking everyone else to the curb. Or it could be a little bit of both.

ohmark

So, is this the card that this thread is about?

themicah

My card doesn't offer "points." It accrues "Dividend Dollars" and when I have fifty or more on the account I can request a check for the exact amount.

ohmark

Yep. That's what I get. (I think my 5% cash rebate Chase Rewards card calls them points.) Two different names for the same thing.

themicah

There's an important difference between "points" and "Dividend Dollars." With the "points" systems like Chase's, when you get enough points you can go shopping for giftcards, checks, etc. Some Chase cards allow you to redeem for frequent flyer miles.

The advantage to the "points" systems is you have a bit more choice (although it's beyond me why anyone would order a $50 gift card you can only use at one store instead of a $50 check you can put in your bank account and use for anything). The disadvantage is that you can only order checks in specific denominations. With Chase, it's denominations of $50. So if you want to close your account, and you have 8,809 points, you can only get a $50 check. The other 3,809 points go to waste.

With the Citi Dividend system, as long as you have at least 50 Dividend Dollars, you can cash out the whole amount (to the penny). So if you want to close your account, and you have $88.09 in Dividend Dollars available, you can simply request a check for $88.09 and then close your account.

ohmark

themicah; I don't dispute what you're saying as to the rules of the two rebate programs. But calling them "points" or "Dividend Dollars" is really not the point (so to speak). Either bank can define the points or DDs as they choose and can set the rules of the program as it chooses. So if Citi wanted to force you to redeem its DDs in $50 amounts only, they could, no matter whether they call them points or DDs. So too, Chase could redeem their points to the penny, if they so chose, and still call them points. If Citi decided to let you buy gift cards with dividend dollars, they could do that also and still call them DDs. The rules set by the banks are what's significant, not what they call the currency.

What's, to me, of far more interest, is why both programs have decided to change the rebate structures for some customers but not for others.

Happy

Yes and No. There are 2 Div cards in our household. The one with long history (literally from the beginning when they put out such card). got downgraded in earning - however, that card is being used for everything, including sizable charges in booking cruises, rental cars and hotels. None that matters, it got downgraded on the same Oct 13 date. The other Div card was a conversion from an AA card few months ago - that one remains earning 5%.

STAM4NICK

Did anyone get a call from Citi that their Dividend card had been compromised? I did last week and they sent me a new one with new account numbers. (I have not used it since June and it has not been out of my house since then either since I have maxed out the benefit, so I have not idea how they think it had been "stolen" unless they had a breach themselves.) I saw nothing in the press about this.

I think they gimmicked me too since it seems per the caption below my cards that I get 2% and not the 5% as I had before-----and I never got a letter of the changes to the reward program as many had said they too did not get a letter.

Isn't Citi supposed to give 30days notice before the effective date of change based upon the currect T&C agreement that they and I are under?

Did they just say my account was compromised to "switch" me to the new reduced rebate program?

joelmeu

Actually, I got the same call that *one* of my two Dividend cards had been compromised. When I spoke to a customer service representative, she indicated that MasterCard had informed them that my card was one of many that had been "possibly compromised". I asked if it was one of those situations where a whole bunch of credit card numbers get stolen out of someone's database. She affirmed that it was something like that. So who knows what really happened...

themicah

I was one of the people who got the notice of changes a couple months ago. My first post-10/13/06 statement closed a couple days ago, and I can now confirm that they're definitely only giving 2% back for drugstore purchases--at least on my account.

Meanwhile, mrs. themicah applied for and received a Direct Rewards Card (directrewardscard.com), which gives 5% on the same categories. The division of HSBC that issues it (formerly Direct Merchants' Bank) is a bit sketchy. They gave us a very low credit limit and tried very hard to sell us their credit protection "service." I don't think they have an autopay feature like Citi's or Chase's (which I find a much more effective credit protection measure), the card only pays its cash back once a year and there doesn't seem to be a way to track cash back. It also only gives 0.5% cash back on the first $3000 of non-groceries/gas/drugstore purchases (then 1%).

On the positive side, it has an annual limit of $500 cash back, which is pretty decent compared to the Citi/Chase $300 caps. So we're now using the Direct Rewards Card exclusively for 5% category purchases since our Citi Dividend card is only paying 2% and we've maxed out our Chase cash back for the year.