CitiBank Changed My Thank You Card and Diamond Preferred Card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Dylan1982
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CitiBank Changed My Thank You Card and Diamond Preferred Card

Postby Dylan1982 » Sat Mar 29, 2014 9:36 am

I don't know if this is happening to anyone else, but CitiBank has changed my following two credit cards.


Diamond Preferred Card: About 2 or 3 months ago, out of the blue CitiBank changed my Diamond Preferred card to MasterCard Thank You card. I also noticed that it has the little silver chip in it too


Thank You Card: Last week in the mail, CitiBank changed out my Thank You Preferred card to Thank You Preferred card with the Visa Signature on it. I also have that little silver chip as well.


Why has CitiBank changed my cards? Not complaining, more so curious.

What does having that Visa Signature card mean? What does that little silver chip mean as well??


Also, I haven't used both of these CC's since I got my Freedom Card in 2/2013....

Thanks guys :cool:
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


luvbullmarkets
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Postby luvbullmarkets » Sat Mar 29, 2014 11:41 am

My guess Citi is phasing out your old cards.
Amex EveryDay, Amex BCE , Barclaycard Arrival+ WEMC, CSP Visa Signature, Discover it, Wells Fargo Propel 365 Amex

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CC Deville
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Postby CC Deville » Sat Mar 29, 2014 11:56 am

Hey Dylan, long time no see.

Citibank...they are a strange beast. I work with a lady who had a Diamond Preferred MasterCard and she too received a Thank You card out of the blue. This was the basic Thank You card (light blue) that is no longer offered. She recently was given a new Thank You Preferred card with the "silver chip."

The main reason for the upgrade from Diamond Preferred to Thank You Preferred is likely Citibank's way of trying to tempt you into utilizing your card; they figure the Diamond Preferred was not working for you so they thought to send you a Thank You card instead hoping you would use it more. I would suggest making a nominal purchase on your cards every 3-6 months to keep them active.

Your existing Thank You Preferred Visa was upgraded to Visa Signature because the higher level Visa card that you use (classic->Gold->Platinum->Signature) the higher swipe fee Citibank collects from the merchants when you use your card. You may have noticed that for the most part, banks and even credit unions are trying to issue World MasterCards, World Elite MasterCards and Visa Signature cards wherever possible on their reward cards because the swipe fee helps them earn more money to cover the rewards etc. For you, Visa Signature means you have some added benefits including concierge.

As far as the "silver chip" this is called EMV. I won't bore you with the details, but the rest of the free world (and even war torn nations like the Ivory Coast) use these EMV cards instead of magstripe cards like we have here. EMV cards, also known as Chip + PIN have proven to nearly eliminate counterfeit cards and stolen cards (pickpocket etc). Essentially, you would place the card, chip first into an EMV point of sale system. The card stays in there, the chip then approves the sale. In all other countries, you would enter a 4 digit PIN to complete the sale instead of signing. However, since the good ol US of A has to be different...we will follow these steps but will sign a receipt as we do now instead of entering a PIN. Citibank has been the frontrunner in getting almost all of their cards with EMV chips in the US. There is a liability shift in fraud coming in October 2015 that essentially states that if a cardholder has an EMV card and the card was used fraudulently at a retailer that did not accept EMV payments the retailer is held liable-right now, the bank is liable. Vice versa, if a ghetto bank or credit union has not issued an EMV card and it is used fraudulently at a merchant that DOES have EMV readable machines, the bank is liable. So, basically, as an insurance policy the major credit card issuers and the major coast-to-coast national chains are likely going to be ready with EMV by October 2015. So expect most of your cards to start coming with the "silver chip" soon.

I am providing a link to Citibank's "EMV chip technology" website. They even have a video of a man and a woman using their chip cards. I don't doubt that Credit Card Guru (the moderator here) will delete my link. To find it on your own you can go to Citicards.com, click a card with a chip and look for Chip Technology as one of the benefits, it will take you to the website:

https://www.citi.com/credit-cards/template.do?ID=chip-technology

Dylan1982
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Postby Dylan1982 » Sat Mar 29, 2014 12:03 pm

Thank you for all of that information. I did forget to metion, every 6 months (January and July) I make small purchase on these cards like you said to keep them active!


I hope Chase adds the EMV chip to the Freedom card!!!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

CC Deville
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Postby CC Deville » Sat Mar 29, 2014 12:10 pm

Dylan1982 wrote:Thank you for all of that information. I did forget to metion, every 6 months (January and July) I make small purchase on these cards like you said to keep them active!


I hope Chase adds the EMV chip to the Freedom card!!!


Has Capital One sent you a new GM MasterCard yet? They recently redesigned it and it is actually quite attractive for a Cap One card. It is even a World Elite now.

Yeah, Chase and most of the other big issuers (BofA, AMEX, Discover, US Bank, Wells etc etc) will soon be replacing our cards with EMV. The added benefit of Chase is that they recently announced (although not officially) that they will be issuing true Chip + PIN cards instead of Chip + Signature. This is hugely beneficial if you travel outside the US but it also adds that extra layer of security. If this is what Chase is going to do I will be switching my usage from my BofA Cash Rewards (which already has an EMV Chip + Signature) to my Freedom card. The PIN really gets me off.

Dylan1982
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Postby Dylan1982 » Sun Mar 30, 2014 9:41 am

CC Deville wrote:Has Capital One sent you a new GM MasterCard yet? They recently redesigned it and it is actually quite attractive for a Cap One card. It is even a World Elite now.

Yeah, Chase and most of the other big issuers (BofA, AMEX, Discover, US Bank, Wells etc etc) will soon be replacing our cards with EMV. The added benefit of Chase is that they recently announced (although not officially) that they will be issuing true Chip + PIN cards instead of Chip + Signature. This is hugely beneficial if you travel outside the US but it also adds that extra layer of security. If this is what Chase is going to do I will be switching my usage from my BofA Cash Rewards (which already has an EMV Chip + Signature) to my Freedom card. The PIN really gets me off.

Yeah I got my new GM Cap One card a long time ago. I like the new design. That is another card that since I got my Freedom card I do not use.

But like I said, every 6 months I make a small purchase to keep them open.


I love my Freedom card. It's a simplstic card, but has great benefits with it. Plus if you have the Freedom card and a checking acct with chase, you get 10% annual bonus on cash back you've already earned on new purchases!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

thom02099
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Postby thom02099 » Sun Mar 30, 2014 5:50 pm

Dylan1982 wrote:Thank you for all of that information. I did forget to metion,[[color="red"]every 6 months (January and July) I make small purchase on these cards like you said to keep them active!
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I hope Chase adds the EMV chip to the Freedom card!!!


This is probably the reason why. I doubt that Citi is going to discontinue the Diamond Preferred; it's a money maker for them!
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