Citi Chairman AMEX accepting GENERAL applications...
Sep 6, 2007, 4:42 pm
#1
Original Poster
Join Date: Dec 2006
Location: Hotlanta, GA
Programs: Centurion AMEX, Citi Chairman
Posts: 171
Citi Chairman AMEX accepting GENERAL applications...
Noticed this on the website... https://www.citicards.com/cards/wv/c...o?screenID=945
Apply away if so desired...
Apply away if so desired...
Sep 6, 2007, 4:53 pm
#2
Join Date: Aug 2007
Posts: 95
I called (moments before reading this post, coincidentally), but they would not accept an application over the phone. The rep offered to mail me an application that should arrive within 10 days.
I was impressed that my call was answered almost immediately after I dialed, save for a brief notice that the call may be recorded. No voice prompts of any time, and the rep was very professional and courteous. I wonder if this service continues after one receives the card.
I was impressed that my call was answered almost immediately after I dialed, save for a brief notice that the call may be recorded. No voice prompts of any time, and the rep was very professional and courteous. I wonder if this service continues after one receives the card.
Sep 6, 2007, 4:55 pm
#3
Join Date: Jun 2006
Location: ORD
Programs: SPG Plat, Hyatt Diamond, AA Plat.
Posts: 706
TYP are only mentioned briefly at the end of "card details". TYP's were the main reason most people signed up for the MC.
Last edited by NWA747SNN; Sep 6, 2007 at 4:57 pm Reason: spelling
Sep 6, 2007, 6:37 pm
#5
Join Date: Mar 2007
Programs: DL Plat, AA Plat, HH Diamond, Marriott Gold, SPG Gold, AMEX Plat, Merrill+, Citi AMEX Chairman
Posts: 463
Goto to http://www.citicards.com. Then take a look at the General Consumer Cards. The Chairman Card shows up at the bottom between the Citi Secured Mastercard and the Home Depot Card. Excellent product placement on the website. Way to go Citi marketing ^
Sep 6, 2007, 9:34 pm
#6
Join Date: Dec 2006
Location: USA
Posts: 3,945
Goto to http://www.citicards.com. Then take a look at the General Consumer Cards. The Chairman Card shows up at the bottom between the Citi Secured Mastercard and the Home Depot Card. Excellent product placement on the website. Way to go Citi marketing ^
Sep 6, 2007, 9:50 pm
#7
Join Date: Aug 2000
Location: LA Ca
Posts: 377
I guess Citi is going to consider this card a bigger failure than even the Mastercard version.
Personally I don't understand how Citi thought people would pay $500 a year for this card when they would not pay $400 for Mastercard that was more widely accepted. I have a felling a lot more SB Reserved would have either taken up SB offers on the card or accepted the card if Citi would have been more generous and allowing a on going annual fee waiver for Reserved Clients(highest level at Citigroup PB and Retail Bank) rather than only waiving the annual fee on an on going basis for only for "Private Wealth and Management Clients" which is a level offered only at SB offices outside of both Private Bank and Retail Bank which requires $5 million in managed money or $50 million in assets.
Think about how big of joke that is when BOA is waiving the fee on the Accolade Cards with $100k in assets which is basically the same card as this without flight points earning ability.
Personally I don't understand how Citi thought people would pay $500 a year for this card when they would not pay $400 for Mastercard that was more widely accepted. I have a felling a lot more SB Reserved would have either taken up SB offers on the card or accepted the card if Citi would have been more generous and allowing a on going annual fee waiver for Reserved Clients(highest level at Citigroup PB and Retail Bank) rather than only waiving the annual fee on an on going basis for only for "Private Wealth and Management Clients" which is a level offered only at SB offices outside of both Private Bank and Retail Bank which requires $5 million in managed money or $50 million in assets.
Think about how big of joke that is when BOA is waiving the fee on the Accolade Cards with $100k in assets which is basically the same card as this without flight points earning ability.
Last edited by dolmar; Sep 7, 2007 at 10:51 am
Sep 6, 2007, 11:02 pm
#8
Original Poster
Join Date: Dec 2006
Location: Hotlanta, GA
Programs: Centurion AMEX, Citi Chairman
Posts: 171
I guess Citi is going to consider this card a bigger failure than even the Mastercard version.
Personally I don't understand how Citi thought people would pay $500 a year for this card when they would not pay $400 for Mastercard that was more widely accepted. I have a felling a lot more SB Reserved would have either taken up SB offers on the card or accepted the card if Citi would have been more generous and allowing a on going annual fee waiver for Reserved Clients(highest level at Citigroup PB and Retail Bank) rather than only waiving the annual fee on an on going basis for only for "Private Wealth and Management Clients" which is a level offered only at SB offices outside of both Private Bank and Retail Bank which requires $5 million in managed money or $50 million in assets.
Think about how big of joke that is when BOA is issuing fee Accolade Cards with $100k in assets which is basically the same card as this without flight points earning ability.
Personally I don't understand how Citi thought people would pay $500 a year for this card when they would not pay $400 for Mastercard that was more widely accepted. I have a felling a lot more SB Reserved would have either taken up SB offers on the card or accepted the card if Citi would have been more generous and allowing a on going annual fee waiver for Reserved Clients(highest level at Citigroup PB and Retail Bank) rather than only waiving the annual fee on an on going basis for only for "Private Wealth and Management Clients" which is a level offered only at SB offices outside of both Private Bank and Retail Bank which requires $5 million in managed money or $50 million in assets.
Think about how big of joke that is when BOA is issuing fee Accolade Cards with $100k in assets which is basically the same card as this without flight points earning ability.
DOLMAR -- I agree with you to an extent. Obviously the card has not received the "subscribership" (not sure if this is the appropriate jargon) that was initially hoped for. However, I think that the Chairman AMEX offers a significantly better concierge service than does Accolades card **Disclosure -- I have NEITHER -- I have Chairman MC (AWFUL concierge) and AMEX Centurion (Amazing concierge)** Nonetheless, I think among the reasons for the "flop" if it is one was a poor decision by marketing to alienate many UHNW individuals. The director of the escalation team (I believe) asserted, "I don't care how much money you or your family has in assets with SB." No "special" accommodation can be made. In contrast, other financial services corporations ie: Coutt's and others would love to manage liquid assets of UHNW individuals and will accordingly "bend over backwards" to do so.
Sep 6, 2007, 11:20 pm
#9
Join Date: Aug 2000
Location: LA Ca
Posts: 377
DrDave2006 You might be correct. It might have a better concierge service over the Mastercard or even BOA Accolade Amex card. But do you think that is worth $500 a year? Remember most SB clients did not want to pay $400 even for the Mastercard version as Citi saw a mass cancelation after the first free year which was when they opened the Mastercard version to general public.
I think some idiot personally at Citigroup thought if we switch our card over to Amex Platform people will use it more or be willing to pay more for the card. They cited as an example Amex Centurion charging $2.5k annual fee to back up that claim. That same person should have said look BOA is waiving the annual on there card with $100K in assets at BOA. So maybe instead of doing a 1 year waiver we should offer an on going waiver for Reserved Clients who have to maintain $500k min in assets with Citigroup which is 5X as much as BOA.
Remember Citi makes money when people use the card as they collect merchant fee's. If they waived the annual fee on an ongoing basis for SB clients. I am sure they might make more money overall on the card over trying to squeeze $500 annual fee out of everyone.
Btw I accepted the invitation I got only because Citi was waving the first year for me and I got 30K TYP for signing up. But I wont use the card 1X even because I am kinda of pissed Citi is only waving the annual fee for 1 year. When the annual fee is billed I will cancel it just like I did with Mastercard version. And personally I prefer my Centurion card. If the card was free I might consider downgrading to Amex Plt and using that Chairman Amex but not for $500 a year.
I think some idiot personally at Citigroup thought if we switch our card over to Amex Platform people will use it more or be willing to pay more for the card. They cited as an example Amex Centurion charging $2.5k annual fee to back up that claim. That same person should have said look BOA is waiving the annual on there card with $100K in assets at BOA. So maybe instead of doing a 1 year waiver we should offer an on going waiver for Reserved Clients who have to maintain $500k min in assets with Citigroup which is 5X as much as BOA.
Remember Citi makes money when people use the card as they collect merchant fee's. If they waived the annual fee on an ongoing basis for SB clients. I am sure they might make more money overall on the card over trying to squeeze $500 annual fee out of everyone.
Btw I accepted the invitation I got only because Citi was waving the first year for me and I got 30K TYP for signing up. But I wont use the card 1X even because I am kinda of pissed Citi is only waving the annual fee for 1 year. When the annual fee is billed I will cancel it just like I did with Mastercard version. And personally I prefer my Centurion card. If the card was free I might consider downgrading to Amex Plt and using that Chairman Amex but not for $500 a year.
Last edited by dolmar; Sep 6, 2007 at 11:26 pm
Sep 7, 2007, 7:39 am
#10
Join Date: Mar 2007
Programs: DL Plat, AA Plat, HH Diamond, Marriott Gold, SPG Gold, AMEX Plat, Merrill+, Citi AMEX Chairman
Posts: 463
I switched to the AMEX for the 30k points (which became 60k after the flight point match). However, I will probably end up taking all of my banking business to BofA. I do not like SB and would not maintain a $500k balance with them to earn the waiver. Further, I like the features on BofA better. (Currently I use Fidelity for investing and Citibank for banking. However, I feel that BofA may offer a better all-in-one solution.)
So far, I am not impressed with the Concierge. In fact, I am down right unhappy. They made 1 moderately challenging reservation out of 3. Further, I had a ridiculous experience with them on another occasion that I will not discuss in public.
BTW...I think that the marketing message that Chairman is only for SB/PB is nothing more than a ploy. It does not indicate that the card was a failure. They are just trying to create mystique.
Many consumers adopted the old Chairman card for the Priority Pass benefit and the TY points.
Many consumers will adopt the new Chairman card because you can get 2 Priority Pass memberships for $600 and you get free access for two guests. (AMEX Platinum is $625 for 2 cards.) However, I do not think that it will be as "successful" as the MC version. Frankly, the fact that it is an AMEX is a bit annoying. I now carry 3 AMEX cards. It would have been much more attractive if Chairman had been released as a WorldElite MC.
If you are interested in wallet jewelry, I personally think that the old MC looked better and had more mystique.
So far, I am not impressed with the Concierge. In fact, I am down right unhappy. They made 1 moderately challenging reservation out of 3. Further, I had a ridiculous experience with them on another occasion that I will not discuss in public.
BTW...I think that the marketing message that Chairman is only for SB/PB is nothing more than a ploy. It does not indicate that the card was a failure. They are just trying to create mystique.
Many consumers adopted the old Chairman card for the Priority Pass benefit and the TY points.
Many consumers will adopt the new Chairman card because you can get 2 Priority Pass memberships for $600 and you get free access for two guests. (AMEX Platinum is $625 for 2 cards.) However, I do not think that it will be as "successful" as the MC version. Frankly, the fact that it is an AMEX is a bit annoying. I now carry 3 AMEX cards. It would have been much more attractive if Chairman had been released as a WorldElite MC.
If you are interested in wallet jewelry, I personally think that the old MC looked better and had more mystique.
Sep 7, 2007, 7:47 am
#11
Join Date: Aug 2004
Location: SDF
Posts: 3,302
I was thinking about applying for this, but it just isn't worth the $500. I already have lounge access on all 6 legacy carriers - CO/DL/NW/AA via Amex Plat and US/UA via *G - when flying those carriers, so Priority Pass would only be useful for me when wanting to use another carrier's lounge or flying B6/WN/FL etc., which I just don't do very often.
As far as HH Gold, DL seems to like giving that to me every other year.
It looks like the next card I get will most likely be the Citi Amex Platinum, so you can count me as one more potential customer poached away by a cheaper Citi product.
As far as HH Gold, DL seems to like giving that to me every other year.
It looks like the next card I get will most likely be the Citi Amex Platinum, so you can count me as one more potential customer poached away by a cheaper Citi product.
Sep 7, 2007, 7:50 am
#12
Join Date: Mar 2007
Programs: DL Plat, AA Plat, HH Diamond, Marriott Gold, SPG Gold, AMEX Plat, Merrill+, Citi AMEX Chairman
Posts: 463
I was thinking about applying for this, but it just isn't worth the $500. I already have lounge access on all 6 legacy carriers - CO/DL/NW/AA via Amex Plat and US/UA via *G - when flying those carriers, so Priority Pass would only be useful for me when wanting to use another carrier's lounge or flying B6/WN/FL etc., which I just don't do very often.
As far as HH Gold, DL seems to like giving that to me every other year.
It looks like the next card I get will most likely be the Citi Amex Platinum, so you can count me as one more potential customer poached away by a cheaper Citi product.
As far as HH Gold, DL seems to like giving that to me every other year.
It looks like the next card I get will most likely be the Citi Amex Platinum, so you can count me as one more potential customer poached away by a cheaper Citi product.
Sep 7, 2007, 10:33 am
#14
Join Date: Aug 2000
Location: LA Ca
Posts: 377
I switched to the AMEX for the 30k points (which became 60k after the flight point match). However, I will probably end up taking all of my banking business to BofA. I do not like SB and would not maintain a $500k balance with them to earn the waiver. Further, I like the features on BofA better. (Currently I use Fidelity for investing and Citibank for banking. However, I feel that BofA may offer a better all-in-one solution.)
Sep 7, 2007, 11:10 am
#15
Join Date: Mar 2007
Programs: DL Plat, AA Plat, HH Diamond, Marriott Gold, SPG Gold, AMEX Plat, Merrill+, Citi AMEX Chairman
Posts: 463
I think you misread what I said or I explained it poorly. Citi is only waiving the card for 1 year for Reserved Clients who are required to maintain a min of $500k. What I was trying to say was Citi should have looked at what BOA is doing for there customers who only have $100k on the Accolade card and waive the annual on an ongoing basis for Reserved Clients instead of only doing a 1 year waiver they choose to do.
The Citibank offering is not compelling to anyone except those that want to get several Priority Pass cards for cheap OR those that are loyal to Citi and want to tryout the card.