Citibank has changed their award point conversions

daoople on 17/10/2016 - 23:18

In March 2016, Citibank changed their point conversion rates and decreased the points to award points by (on average) 25%. However, I had no idea this had changed! I don't recall receiving any info about these changes, but I want to ask the Ozb community on your opinion.

This meant (for me) - holding a Citibank Signature card:

Previously:
$1 => 1.5 points => 1 Krisflyer mile

Now:
$1 => 1.5 points => 0.75 Krisflyer miles.

However, all their airline conversion programs are affected and have decreased being Emirates, Singapore Air and Velocity.

My questions are:

  1. Did Citibank notify you of the changes with a lead time?
  2. If not, have you complained about this? Yes, with a Result* or Yes, with no Result* or No.

*By Result, I mean did they give you a bonus of some kind or did they honour the previous conversion rate. Please comment if you did get anything in your favour.

I would be very interested to hear what other members thoughts are on this, as I had no idea they changed their conversion rate until a few days ago.

Poll Options

  • 14
    Citibank notified me of the changes with a lead time of 2+ months
  • 1
    Citibank notified me of the changes with a lead time of less than 2 months
  • 0
    Citibank did not notify me of the changes and I complained with a positive *Result
  • 2
    Citibank did not notify me of the changes and I complained with no *Result
Financial

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Comments

  • kasp on 17/10/2016 - 23:48
    +1

    Yeah I remember getting notified about it and it was months before it happened.

    I thought thats bullshit at first and then realized I pay nothing for the card looked for a better value than 0 dollars for a reward program couldn't find it and just sucked it up.

    • donbot on 18/10/2016 - 12:31

      Couldn't agree more.

    • niner on 18/10/2016 - 12:44

      how did you get your annual fee waived??

      • kasp on 18/10/2016 - 17:45

        They have a special every now and then.

    • RockyRaccoon on 18/10/2016 - 04:38

      That was Dec 2015. The OP is talking about changes in March 2016

      • Glider on 18/10/2016 - 11:20
        +2

        Citibank's Nov 15 change without notice was the instigator of the March 2016 change.

        They devalued the program in Nov 2015 without notice, the AFF crew were livid and lawyers got involved. Citibank backed down and re-instated the transfer rates and gave 90 days notification required by their original T&Cs. Following the back-down they sent out notification of upcoming changes with March as the notified devalue deadline and changed to new T&Cs that allow them to devalue in future at any time without notice.

        • RockyRaccoon on 18/10/2016 - 11:42

          Thanks for the clarification, because as when you posted it didnt make sense, now it does

      • daoople on 20/10/2016 - 23:50

        That's right. I saw that article, then I thought "stuff it, I'm going to convert all my points - cuz you never know if/when they will change the polic". So I did. Happy I did that because I didn't track what was happening with this until a few days ago.

  • scotty on 18/10/2016 - 10:15
    +2

    They have notified and have been discussed in the forums here a few months ago. Announcement, more discussions.

  • snook on 20/10/2016 - 15:16

    I recall getting something from them about this in January

  • daoople on 20/10/2016 - 23:53

    Thanks to everyone for the info. I genuinely don't recall getting any notification - but it probably was me just being lazy with the mail. Appreciate the replies :)

    Now I need a Visa that will do $1=$1 Krisflyer mile. sigh The search begins…

    • starburstyellow on 06/11/2016 - 03:31

      I believe the only one that does $1 to 1 KFF is the citibank prestige.

  • daoople on 06/11/2016 - 09:33

    Thanks! This is good info. I will take a look at it. I'm a stickler for $ to points, so knowing I'm not getting the best value for points hurts.

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