Last night, a new T&C for Citibank Credit Cards has been released. This will be effective 6 April 2021
Normally, I would skip the details and read the summary on things like this but somehow I feel differently this time and lo and behold, the devils are in the details.
Expert interpreters' input are appreciated as I am finding these days I need a degree just to read their T&C due to the introduction of new words and stuff.
In summary, I believe these are the changes:
The Good (and they advertise it really well)
- Earn 2 points per $1 spend on ELIGIBLE ONLINE transactions. Previously, the earning is depending on where you spend the money. Eg: Supermarket = 1.5 points. Now, it depends on HOW you pay it. Wait for it.
- Points are earned now on HOW you pay. As an example, if you buy something from Chemist Warehouse and used Paypal instead of Credit Card option. Not 2 points but 1 point ya! If you buy using credit card but that payment is processed as BPAY, also sorry 1 point for ya. How the system sees as online transaction is defined by Visa/Mastercard. You will only see this in the pdf and FAQ.
- For Signature (Premier) and Prestige, you are now capped at 200,000 points per anniversary year. Anniversary is defined as the day when you opened up the card so different every person.
The Unclear or Better
- Companion Diners points earning still uncapped
- Despite Diners is excluded from earning 2 points for 1, given it is a separate scheme and the points are uncapped, I tend to believe it is still earning 2 points per $1 but I am not sure.
The biggest change is you are no longer rewarded with higher points for spending on premise. It must be online and must use the store's own payment network instead of other payment processor such as Paypal.
If you pay using Samsung Pay or Apple Pay on online transaction, that won't earn 2 points now. It only earns 1 point.
If Diners 2 for $1 is gone, then RIP Diners. Also, currently if you use Diners at Myers/David Jones, that earns 2 points. Now it is only 1. Same goes with ColesWorths. Basically, ever on premise spend is now 1 point per $1. I will try to find clarification if Diners still earn 2 points for $1 on all spending.
The 200k points are annoying.
For me, the overall change is a negative because I spend a lot on on premise purchases (ColesWorths) and currently earn 2 points per dollar on Diners. It will also direct me to use the merchant's own payment system instead of paypal to earn 2 points which I guess could be a flipside.