Got this notice in the mail today... This is for my Diamond Preferred card, which I use to get 5 points for gas and grocery (I have to call in every year to get them to give me 5 points again)
Annual fee of $90 billed starting with the September 2010 statement. It will be credited back if I have more than $2400 in purchases by the end of August 2010 statement. If I spend more than $9000, I will get 1.25% per dollar on purchases exceeding that.
Opt out by Sept 30th and your account will be closed.
I got the same notice, they stopped giving me 5 points for gas and grocery so i stopped using it a few months ago switched to my Schwab card, other than my internet charge every month. I called and told them to cancel the card. I only put 8500 a year on that card and paid it off every month. I guess if you don't use them, they change the terms. Now waiting for the same notice on my Citi PremierPass card.
Wondering if we can figure out if they are only changing this on some accounts, or if MAYBE I will get the notice next month?
davef139
Senior Member - 3K
posted: Aug. 4, 2009 @ 6:03p
Interesting way to try to jsutify a annual fee by forcing spending..
Shep
Addicted Member
posted: Aug. 4, 2009 @ 6:33p
It's my main card and I'm sure I always spend more than that a year. I always pay off the entire balance. It's odd that they would send this when four months ago I tried to cancel and they upped my points to keep me...
I got the notice of change in terms too on my Citi Diamond Rewards card, only my annual fee was going to be $60. I am going to opt out, shame because I used the card heavily. Always paid in full every month. Switching to my Discover card now.
Is there a thread here that discusses who takes what cut when customers charge purchases to CCs? I am asking because it is starting to look as if the merchant fees are not enough to make (some) PIFers all that lucrative.
Creditcardninja
New Member
posted: Aug. 5, 2009 @ 11:51a
Hi Shep - I am also a Diamond Preferred cardholder, but I actually haven't yet taken advantage of many of their features and rewards. (It's not my main card, it's my least used one.) Could you clarify in your initial post here, for the 5 points you get for gas and grocery, is that for every dollar you spend, and only at gas stations and grocery stores?
Also, for the "1.25% per dollar" on purchases exceeding $9000 -- how does that work exactly? Does the 1.25% equate to a certain number of ThankYou points, or are you actually getting this money credited back to you?
Thanks...
lakshmi111
Happy Member
posted: Aug. 5, 2009 @ 12:02p
Sorry if I missed this topic in some other thread. Does anyone know if Citi Platinum cards (no Cash Back) are going to be affected by the annual fee?
Bad news for me. I still have a 20K+ bal on this card from a 0% for life deal from two years ago (this fatwallet deal). I make two small charges every month to maintain the 0% deal, and don't want to be charging more than a few pennies since the purchase rate is high.
If I opt out I don't know if I'll still be able to consolidate the credit line to another Citi card and still keep the 0% loan.
If I can't consolidate and keep the 0% I might be better off eating the annual fee.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
