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Citi Dividend Card conversion offer to Citi Thank You Preferred: DON'T DO it

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rated:
Citi Dividend card currently has 5% on Travel for this Qtr. Soon as I was done charging a bunchof air tickets totaling $5K or so in a few days I get an offer to convert my card to TY Preferred card detailing many flaky looking benefits. At the end was a "What else is changing" section that mentions: a) you will no longer earn 5% in categories, b) any points earned will expire at conversion (!!!!!)

Stay away from these rascals ... Not that I was jumping to convert but would have lost $250+ that are coming from airline tickets

Just a warning to others

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rated:
TY points versus real cashback? Good call, OP!

rated:
The case where it makes sense to convert is for people like my DW - she never opts-in to the rotating categories. The plan is to have her use the 2% card for all purchases other than dining & travel where she will use her CSR.

rated:
BostonOne said:   The case where it makes sense to convert is for people like my DW - she never opts-in to the rotating categories. The plan is to have her use the 2% card for all purchases other than dining & travel where she will use her CSR.
  But what was offered to OP wasn't to a 2% card, it was the ThankYou Preferred.  I got the same offer.  What cracks me up is that they present this as a great special opportunity.  Use this special invitation code now!

I'm thinking, WTF?  Couldn't I just call customer service any time I wanted and switch to just about any card I wanted?  How is this a special offer?

Chris.
 

rated:
cpaynter said:   
BostonOne said:   The case where it makes sense to convert is for people like my DW - she never opts-in to the rotating categories. The plan is to have her use the 2% card for all purchases other than dining & travel where she will use her CSR.
  But what was offered to OP wasn't to a 2% card, it was the ThankYou Preferred.  I got the same offer.  What cracks me up is that they present this as a great special opportunity.  Use this special invitation code now!

I'm thinking, WTF?  Couldn't I just call customer service any time I wanted and switch to just about any card I wanted?  How is this a special offer?

Chris.

  My bad. My wife got an offer to convert to the 2% card just recently. Never mind.

rated:
To the OP's point, I wanted to add that I will probably stick with the Dividend for now, but it's not a slam dunk.  

Ironically, I got the Dividend via a conversion *from* the ThankYou Preferred years ago.  Both DW and I had the old Citi Driver's Edge Card, which was a killer of a deal.  But when Citi axed that program, they force-converted us to the TY Preferred.  I quickly determined that card was a loser, and I liked the great categories I was seeing on the Dividend, so I called and converted to the Dividend.  Ever since I converted, it's been pretty much of a dud for me.  Most quarters have categories that just aren't useful to me, and when there is something I can use, it's overlapped by Discover or Chase, both of which have the potential to leverage for >5%, versus Dividend's straight 5%.  I've thrown some spending on it just to keep it active, and to get to a redeemable reward level.  In six years, I've cashed out about $100.  

Meanwhile, my wife's TY card, while earning a pitiable amount of TY points, has had occasional targeted bonus opportunities which have proved useful.  For example, last quarter, it offered a 5% rebate on grocery, drugstore and gas.  And this quarter, 5% rebate on online purchases.  I consider the base 1 TYP per $ pretty much a "who cares" when I'm getting 5% cash on top of that.  And the targeted 5% is via immediate statement credit; I don't have to store up to $50 to cash out.  So in the six years she's had the TY, she's earned about $100 cash with those 5% deals, pretty much exactly what I've made on the Dividend over those same six years.

So for me, the question is: if I switch to the TY card, what are the chances they'll offer usable bonus opportunities in the future, versus what are the chances the Dividend will have usable quarterly categories?  I'll probably bet on the latter, but based on the previous six years, it might be a toss-up.

Chris.
 

rated:
I have both cards, so let them try to convert my accounts.

Chase just notified me that due to inactivity, the credit card account will be closed in a couple of months (to fall in line with the card's expiration date). My online access to the Chase account also got cut off.

rated:
fedguy said:   I have both cards, so let them try to convert my accounts.

Chase just notified me that due to inactivity, the credit card account will be closed in a couple of months (to fall in line with the card's expiration date). My online access to the Chase account also got cut off.

  
Chase is managing your Citibank cards? 

Chris.

rated:
Citi has tried multiple times to get me to convert this card. No thanks.

rated:
As an update Citi did not reward me 5% for the airline purchases made directly with United and AirFrance in 3 transactions, only got 1% cashback.  Is this normal to have to fight with Citi to get promised 5%?

Not the Citi I used to know, but then I stopped using them a while ago except for exceptional deals as no one else in my portfolio was offering 5% travel so took them up on the offer ... hate to follow up ... have emailed them from secure messaging and pretty sure they will say call us instead ...  

Edit: Update,
It seems the 5% rotating promo that I had enrolled somehow internally did not take place so they were denying other 4%
Luckily for me just prior to purchase I had text chatted with their CSR to confirm that I was enrolled and they confirmed.
Now as promo was not showing I complained via secure messaging. They re-enrolled me as of current date.
But as they re-enrolled my enrollment date was somehow reset to current date so again 5% on purchases were invalidated
I had to call and fight to have them check past chat luckily they found a reference to the chat and said are honoring their original confirmation
Only thing is the 5% comes after the quarter ends when next statement cuts off so need to wait until Oct statement
Lets see if $250 comes....

rated:
cpaynter said:   
 Both DW and I had the old Citi Driver's Edge Card, which was a killer of a deal.

  Your card is probably not that very old. I still have the original Driver's Edge from '99 and it's still kicking.

rated:
cpaynter said:   
fedguy said:   I have both cards, so let them try to convert my accounts.

Chase just notified me that due to inactivity, the credit card account will be closed in a couple of months (to fall in line with the card's expiration date). My online access to the Chase account also got cut off.

  
Chase is managing your Citibank cards? 

Chris.

  Nope.  Sorry for the off topic addendum.    I sometimes mix up Citibank with Chase since they have offices in NYC.

rated:
There is really no reason to ever convert to a Citi ThankYou Preferred card from Dividends Platinum Select. Counting redemption value of points, it's about a wash (1% card) without the 5% rotating categories. For everyday expenses, they both suck compared to the Citi DoubleCash card. The only advantage of the Dividends card are those 5% categories which would be lost by converting to the crap-tastic ThankYou preferred. Not sure why would anyone jump on that conversion unless forced to do it by Citi.

rated:
As long as Dividend has a drugstore or grocery bonus category I'll keep it. Buy those Visa gift cards and get 4% cash back on anything, even if you don't do manufactured spend.

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