Citibank credit card linked Diners Club is Closing too....

littlesoldier on 17/08/2023 - 16:30
Last edited 17/08/2023 - 16:30

Followed by the email yesterday on Citi Plus closure, now Citibank (NAB) is closing all Citibank linked diners club

Damn… that card is so useful when travelling to countries that accept diners club (eg. Japan and USA)
One of the few credit cards that you can earn points overseas, with complimentary insurance while no international transaction fee

Now really worrying whether Citi PayAll will still continue……

We want to let you know we will no longer offer the Linked Diners Club® Card from 16 October 2023, and as a result we will be closing your Linked Diners Club Card(s) on account ending in .

.From 16 October 2023 onwards, you and any Additional Cardholder(s) linked to your account will no longer be able to spend and earn Points on your Linked Diners Club Card. Please note, any transactions and Points earned on your Linked Diners Club Card prior to this date will continue to be transferred to your account as per the Linked Diners Club Card Terms and Conditions and Linked Diners Club Card Extra Terms.

There will be no change to your existing Citi Prestige Card and you can continue to use your Citi Prestige Card as per normal.

We have provided some important information below to help you understand what happens next.

It's important that you read this notice carefully as it contains information regarding the changes to your Linked Diners Club Card.

What do I need to do?

From now until 15 October 2023, we recommend you:


• Transfer any recurring payments from your Linked Diners Club Card to another card. If you have not updated your recurring payments by 15 October 2023, they will not be processed. If you require a list of your regular recurring payments for the last 13 months, you can contact us and we will provide details of transactions that the merchant has identified as recurring.

• Notify any Additional Cardholder(s) on your account of the changes and that they can no longer spend on their Linked Diners Club Card from 16 October 2023.

What happens to the complimentary insurances on my Linked Diners Club Card?


• Complimentary insurance covers associated with your card for travel and purchasing of goods will be honoured in accordance with the Description of Insurance Cover - Effective 15 June 2023 provided you meet the eligibility requirements and your Citi Prestige Card account remains open at the time you make a claim. This means if you have purchased an overseas travel ticket with your Linked Diners Club Card prior to 16 October 2023 but your travel commences on or after 16 October 2023, complimentary International Travel Insurance will still apply to that travel.1

• If you currently pay your Monthly Mobile Plan bill with your Linked Diners Club Card, you will be covered for complimentary mobile phone insurance up until 15 October 2023 as per the Citi Credit Cards Complimentary Mobile Phone Insurance Terms and Conditions - Effective 1 May 2023 provided you meet the eligibility requirements and your Citi Prestige Card account remains open. 2 You can make a claim after 15 October 2023 for any losses occurred on or before 15 October 2023. We recommend switching your payment details to your Citi Prestige Card as soon as possible to continue receiving monthly cover. For continuous coverage, the full payment of your Monthly Mobile Plan bill is required on your Citi Prestige Card by 15 September 2023.

Financial

Related Stores

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Citibank Australia

Comments

  • leiiv on 17/08/2023 - 16:38

    I guess it's a matter or time before they close the premier cards too.

    • mbck on 17/08/2023 - 17:11
      +2

      The writing is on the wall

    • DogGunn on 17/08/2023 - 19:28

      Why would they close their actual credit card product (the main money maker and reason they purchased the Citi business)?

      • leiiv on 18/08/2023 - 23:46

        I think they could be losing money with the fee free signature card (which now becomes premier) and more so with the fee free pay all.

        • DogGunn on 19/08/2023 - 02:01

          Re fee free card, as long as you're putting expenditure through it, they will make money. Credit cards are a huge money making product. It was also the bulk of the Citi purchase (unsecured credit).

          As for the fee free pay all, I doubt that NAB will continue that.

  • cashless on 17/08/2023 - 17:03
    +6

    The Diner's card is useful because you effectively get 2x reward points every time you use it.
    By linking it into PayPal it has been well worthwhile.
    It is noticeable that the Citi (aka NAB) notification remains silent about the loss of extra reward points

    • littlesoldier on 17/08/2023 - 17:07
      +1

      not only that you can earn points
      but the FX rate for diners club is pretty good too
      I compare this with Revolut when spending in Japan, and they are pretty much the same (better than HSBC)

  • netjock on 17/08/2023 - 17:05
    +1

    This sucks

  • PoRKroLL on 17/08/2023 - 17:09

    Damn, been using this free add-on card wherever I can for double points on my PayPal.

    Good for travelling or online shopping with no int. transaction fee. Oh well :(

  • Pcoder on 17/08/2023 - 17:25

    I'm a little annoyed by this, but in regards to the other products like other Credit cards, I'd imagine the diner's club business is a lot smaller. Just annoyed another no forex card is going.

    So far NAB will get rid of the savings accounts and the Diner's club (at least for citi cards), but since citi were the Australian licencee for Diner's unless the corporate market is still good, I'll imagine Diner's in Australia will go.

    For what I heard, citi were the 5th largest credit card provider in Australia, so I think most other products they did in Australia were smaller fry, so I could see why NAB is cutting them.

    Just don't want to lose my fee free for life card… but increasing looking like we'll get an email soon saying, blah, blah, blah, we're ending it.

    • MrGarciaA on 17/08/2023 - 19:08

      Diners wont go from Aus just yet - they hold the contract for corporate card services for the Australian Federal Public Service so NAB will likely have to honour that contract. I suspect after the contract expires, Diners will be seeing an exit out of Aus.

      • Pcoder on 17/08/2023 - 19:14

        Yeah I know a few people who have had access to cards like these, thats why I said they might retain, but I could see them migrating these accounts over to visa/mastercard.

    • segap21 on 02/02/2024 - 08:54

      That day has come. They're gonna start slogging me $149/yr. Did you get the email from them?

  • Gdsamp on 17/08/2023 - 17:59

    Godspeed

  • MrGarciaA on 17/08/2023 - 19:03
    +3

    This actually annoys me quite a bit and makes me wonder how the ACCC ever allowed a Big 4 bank like NAB to suck up the 5th largest unsecured loan market in Australia without any concerns whatosever. ACCC stated that their biggest concern at the time was the loss in competitiveness in the credit card market with the acquisition of Citibank by NAB yet they allowed the purchase anyway and lo and behold, we're seeing the slow death of Citibank i.e. "There are no changes to your credit card products at this time" said Citi lol. NAB probably just wanted to acquire Citi's customer base to double the value on their books (theyre now the 2nd largest CC market in Aus since acquisition) then shut everything down and move them over to NAB's products.

    The best part of the Diners Club card was the 0% forex fees - with an increasing number of merchants shifting their payment processes overseas, Ive been seeing a staggering rise in "INTL TRANS FEE" on my statement and anecdotally from my other friends even for regular purchases that have never incurred this charge before (looking at you Spotify grrr). The DC card bypassed the most irritating T&C of forex fee charged so long as merchant processes payment OS because in this day and age of online purchases, it's near damn impossible to tell if the merchant will process your payment OS or locally. The DC 0% fee gave peace of mind and great points.

    The only cards left in the market now that offer points + no forex fee are Commbank's Ultimate and Smart Awards cards (which have terrible value in terms of points) and Bankwest's Mastercards which are not that competitive in terms of Qantas earn rates and the annual bonus points if minimum spend is met for the More Rewards variants is getting canned in Sept 2023.

    Whether NAB want to admit it or not, the linked Diners actually made Citi Cards genuinely competitive. At least we still have fee free Payall until 31 Oct but I bet NAB will shut that down too meaning once good Citi cards will be just like any other cookie cutter mediocre card from any Australian bank.

    EDIT: The Coles Mastercard is also another card that offers points + no forex fee which is quite a decent card but in terms of other perks and benefits is very lackluster. Also the capped earn rate of $3000 can be restrictive for many people

    • Pcoder on 17/08/2023 - 19:20
      +2

      Yeah things need to change. Should be a case with these large acquisitions, they have to get ACCC approval to proceed rather then the case now where the ACCC has to lodge a court action to stop it.

      Australia does poorly on Monopolies and oligopolies.

      • MrGarciaA on 17/08/2023 - 19:28

        Im pretty sure the purchase actually did need ACCC approval before it went ahead. ACCC voiced it's concern over lack of competitiveness in CC market should NAB acquire Citi when it "investigated" whether the acquisition should go ahead or not. NAB then of course submitted their usual "cross our hearts hope to die" mantra about promising to keep Citi CCs untouched. ACCC stupidly said OK.

        And now ACCC cant do anything because legally NAB can do whatever they hell they want since it's 100% theirs. There needs to be tougher rules and restrictions around largest players in any industry here not being allowed to so easily acquire smaller players. Hurts me to realise that around 90-95% of all banking in Aus is actually with the Big 4 since they sucked up all the smaller players.

        • Pcoder on 17/08/2023 - 19:31

          ACCC is weak on purpose.

    • Gdsamp on 17/08/2023 - 19:45

      nooooo the four pillars policy promotes stability in the financial industry

      and everyone's super would collapse if the model were to change ,

  • scanuck on 18/08/2023 - 12:17

    What about straight up diners cards?

    I only keep this card for the lounge access (which is effectively a priority pass!!)

    • littlesoldier on 18/08/2023 - 12:31

      I just recently cancelled my qantas diners club after getting AMEX platinum charge
      totally agree that for $150 (primary) and $50 additional card, its the "cheapest" way to get unlimited lounge access
      I cancel only because it cannot bring any guests (and the kids cannot get a additional card due to age limit)

    • MrGarciaA on 18/08/2023 - 13:44

      I would say keep it open if you're still getting lounge access. Diners hasnt been accepting any new applications for over 12 months now ever since NAB took over so if youre still getting the benefits, then leave it be.

  • T-man on 19/08/2023 - 21:42

    I focking hate NAB, never like this bank.

  • Homr on 19/08/2023 - 21:45
    +1

    anyone know whats going to happen with the Citibank Mastercard Platinum Fee free for life cards?

    • MrGarciaA on 21/08/2023 - 09:52

      Only NAB knows and NAB wont say until the legally required 60 days notice period for any changes. Given how ruthlessly NAB has been dismantling Citi branded products since its acquisition was completed in 1 June 2022 (i.e. all Citi transactions accounts, all Citi home loans, no more Diners Club Cards, no more Linked Diners Club Cards in a span of less than 18 months), I would not hold out hope that any of our Citi branded CC products are safe from NAB's chopping block.

      The wording of Citi's website is key:

      From 1 June 2022, NAB is the provider of your products and services. For now, there are no immediate impacts to the way you access your account, and you can continue to manage your account via the Citi Mobile® App and Citi Online. You will receive separate communications about changes ahead of time.

      At this stage, there is no impact to your Citi branded credit card and you can continue to use your card as normal. We will notify you as required of any changes to your Citi branded credit card ahead of time.

      Which all reads to me as "there will be changes coming". Only thing we can do now is milk the most of what we can from our Citi cards and when the inevitable "we're discoutinuing your product" email arrives from NAB, we cancel and move on to the next card

      • aussieaubs on 27/08/2023 - 19:29

        citi brand will continue for the foreseeable future as Citi branded cards

    • aussieaubs on 27/08/2023 - 19:27

      they will likely continue as the same fee free product

    • segap21 on 02/02/2024 - 08:59

      They're gonna start slogging us with annual fees. Got the email from them yesterday. It was good while it lasted but knew this day would come

  • JHoliday on 31/08/2023 - 18:17

    Has anyone been able add this linked Citi Diners Card to Apple Pay?

  • cocomelon on 13/09/2023 - 18:11

    im not been able to request diners card

  • KateCao on 16/09/2023 - 10:00

    What happens to exisiting card ? would they continue work or stopped working ? the email is rather vague.

    • MELso on 16/09/2023 - 10:08

      It's very clear to my mind…

  • scanuck on 03/11/2023 - 18:57

    Diners is dead

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