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Just got a letter from Citibank yesterday. Starting Nov 2016, the minimum threshold for Citigold accounts will be $200k. 
Citigold said: Effective November 1, 2016, if you do not maintain a minimum combined average monthly balance of $200,000 in eligible deposits, retirement accounts, and investment balances, your Citigold Account Package will be converted to a different banking package and your accounts will be subject to the terms and conditions then in effect for that package. We will contact you prior to account conversion and send you complete information about the banking package to which your account will be converted.
This has implications for Citi Prestige card holders - I am assuming the $350 AF instead of $450 will also go away.
 

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mojoshtudd said:   Just got a letter from Citibank yesterday. Starting Nov 2016, the minimum threshold for Citigold accounts will be $200k. 
Citigold said: Effective November 1, 2016, if you do not maintain a minimum combined average monthly balance of $200,000 in eligible deposits, retirement accounts, and investment balances, your Citigold Account Package will be converted to a different banking package and your accounts will be subject to the terms and conditions then in effect for that package. We will contact you prior to account conversion and send you complete information about the banking package to which your account will be converted.
This has implications for Citi Prestige card holders - I am assuming the $350 AF instead of $450 will also go away.

How to make the pathetic program dead? Bingo - ask customers for $200K and cut benefits:
https://www.fatwallet.com/forums/finance/1518007/

On the bright side, the $30/month fee is going away.

And simultaneously the Citi Prestige card (whose benefits stacked with this account in some ways) is getting worse.
https://www.fatwallet.com/forums/finance/1518007/

Here I was actually tempted to become an all-in Citi 'premium' customer if the terms got just a little bit better or there was a nice sign up offer.. NVM, I'll stick with my local credit union where the rates are good and they don't jack the terms around constantly.

jaytrader said:   On the bright side, the $30/month fee is going away.
  not exactly!
The complete picture is like this: either you belong to the club or you do not belong - purely on the basis of one's net_worth.

There is no more "pay-to-play" .....

If you do not have $200K net_worth parked with Citi, then Citi will simply downgrade you to the basic account package. No more belonging to the citi gold club by paying $30 fee

glad I have free citigold account. they somehow gave it to me when I opened a business checking.

dealgain said:   
jaytrader said:   On the bright side, the $30/month fee is going away.
  not exactly!
The complete picture is like this: either you belong to the club or you do not belong - purely on the basis of one's net_worth.

There is no more "pay-to-play" .....

If you do not have $200K net_worth parked with Citi, then Citi will simply downgrade you to the basic account package. No more belonging to the citi gold club by paying $30 fee

I think they still count mortgage debt you owe them towards the $200K.  Not sure.  I transferred-in-kind the $130K in mutual funds I held there to my main account at Morgan Stanley as soon as I realized I would have to add another $70K to stay in the little gold club that wasn't all that fun to begin with.  Shitibank has become less and less appealing over the years for anything other than their basic checking, which seems pretty good from what I've read on the website.  Only a $1500 minimum balance to avoid fees OR one DD AND one billpay per month to avoid all fees, and you can have a linked savings account that also has no minimum balance.  Not a bad deal in the current banking environment, but why anyone with $200K would choose Shiti over any other firm to park substantial assets is beyond me.  For an extra $50K, CPC is much better, or so it would seem based on what I've read on FWF.

dealgain said:   
jaytrader said:   On the bright side, the $30/month fee is going away.
  not exactly!
The complete picture is like this: either you belong to the club or you do not belong - purely on the basis of one's net_worth.

There is no more "pay-to-play" .....

If you do not have $200K net_worth parked with Citi, then Citi will simply downgrade you to the basic account package. No more belonging to the citi gold club by paying $30 fee

  Yes, exactly. Regardless of the minimum balance requirement, the $30/month fee is going away.

Net worth? All they're saying is you need to park $200k there. If one so pleases, they can CA $200k from their credit cards, open a Citigold, and park the $200k there. 



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