How likely Citi Dividend card is being nerfed?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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kir
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How likely Citi Dividend card is being nerfed?

Postby kir » Thu Oct 16, 2014 9:29 pm

I have two 1% (with 5% quarterly) cash back cards and I'm trying to decide on which card I should put my 1% purchases.

Since Citi discontinued the Dividend card, I'm afraid that Citi will change my Dividend card into something else before I meet the $50 requirement to cash my rewards.

Would I be better using my Discover card, where possible? Or is this a non-issue?

Also, what generally happens to people's rewards when the lender converts their cards into a different type?

Thanks.


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PlyrStar93
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Postby PlyrStar93 » Thu Oct 16, 2014 10:03 pm

kir wrote:Since Citi discontinued the Dividend card, I'm afraid that Citi will change my Dividend card into something else before I meet the $50 requirement to cash my rewards.

I have no idea if they will change all Dividend to others, but since I still have my Forward with old reward term, I doubt it would happen within this year or two, if it happens at all.

kir wrote:Would I be better using my Discover card, where possible? Or is this a non-issue?

Regarding whether using this or that, it could depend on the specific category and reward cap and etc. Especially when you only have $500 limit on Citi, switching to Discover may bring you a little bit buying power. Use them the way you feel comfortable.

kir wrote:Also, what generally happens to people's rewards when the lender converts their cards into a different type?

I provide my guess: if you change to Double Cash, you may be able to keep the reward balance, but ALWAYS remember to ask so you can have a definitive answer. If you are able to change it to ThankYou Rewards cards, then you might lose all remaining reward balance.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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otter
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Postby otter » Thu Oct 16, 2014 11:18 pm

kir wrote:I have two 1% (with 5% quarterly) cash back cards and I'm trying to decide on which card I should put my 1% purchases.

Since Citi discontinued the Dividend card, I'm afraid that Citi will change my Dividend card into something else before I meet the $50 requirement to cash my rewards.

Would I be better using my Discover card, where possible? Or is this a non-issue?

Also, what generally happens to people's rewards when the lender converts their cards into a different type?

Thanks.


It's already been nerfed several times... and that's not including the fact that the 5% cats are almost always pretty useless.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

CC Deville
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Postby CC Deville » Fri Oct 17, 2014 10:28 pm

kir wrote:I have two 1% (with 5% quarterly) cash back cards and I'm trying to decide on which card I should put my 1% purchases.

Since Citi discontinued the Dividend card, I'm afraid that Citi will change my Dividend card into something else before I meet the $50 requirement to cash my rewards.

Would I be better using my Discover card, where possible? Or is this a non-issue?

Also, what generally happens to people's rewards when the lender converts their cards into a different type?

Thanks.


They have not discontinued the Dividend, they just aren't marketing it any longer; and for good reason. When they stopped offering the Cash Returns card they allowed card members who had the card to keep them. When the Driver's Edge card was no longer offered to new customers, existing card members got to keep them for a year or two before they were finally forced into Thank You cards. One of the few Citibank cards in recent memory that were instantly changed once discontinued was the old Ford Citibank card (which became the Driver's Edge card).

I think those of us with our worthless Dividend cards are "safe" for now. I would imagine that if they forced us into a product change they would make it worth our while and carry over the earned cash back to the Double Cash or they might make a one time concession and allow you to redeem the reward under $50.

Discover or Dividend? That's up to you. If you are afraid to use your Dividend for fear of losing rewards I don't think that is going to be an issue. However, I would think that the Discover would offer slightly better rewards. The 5% rotating categories from Citibank have been dreadful for years. I only keep mine because it is a World Elite.

Generally when a customer requests a product change you either forfeit the earned rewards or the bank will give you a window of time to redeem before the earned rewards have to be used before you lose them.

kir
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Postby kir » Sat Oct 18, 2014 1:26 am

Thanks for all of the replies.

CC Deville wrote:They have not discontinued the Dividend, they just aren't marketing it any longer; and for good reason. When they stopped offering the Cash Returns card they allowed card members who had the card to keep them. When the Driver's Edge card was no longer offered to new customers, existing card members got to keep them for a year or two before they were finally forced into Thank You cards. One of the few Citibank cards in recent memory that were instantly changed once discontinued was the old Ford Citibank card (which became the Driver's Edge card).

I think those of us with our worthless Dividend cards are "safe" for now. I would imagine that if they forced us into a product change they would make it worth our while and carry over the earned cash back to the Double Cash or they might make a one time concession and allow you to redeem the reward under $50.

Discover or Dividend? That's up to you. If you are afraid to use your Dividend for fear of losing rewards I don't think that is going to be an issue. However, I would think that the Discover would offer slightly better rewards. The 5% rotating categories from Citibank have been dreadful for years. I only keep mine because it is a World Elite.

Generally when a customer requests a product change you either forfeit the earned rewards or the bank will give you a window of time to redeem before the earned rewards have to be used before you lose them.



Yeah, that was more at what I was getting at. I don't plan on product changing my card, but I just don't want to lose my rewards if they changed the card for me. I'd use whichever card is advantageous in the 5% categories, but I want to put my 1% on the Citi.

Hopefully you guys are right in that they will let me keep my card / rewards. I don't charge much on my card (maybe < $20 per month) so I don't expect to reach the $50 requirement any time soon. If they force me to change, hopefully my rewards will carryover or be redeemable at any amount.

Too bad we can't use out cashback on Amazon, like the Discover or TYP.



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