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PSA: Citi Prestige benefits downgrades

Knightshade 3,141 1,154 July 28, 2016 at 12:52 PM in Consumer News (3)

Thread Details

Citi Prestige, which up to now has been arguably the best premium credit card out there, is getting some downgrades-

All changes are as of July 23, 2017

No more Admirals Club lounge access (Amex Plat lost this a while back too)

No more 3 free rounds of golf

Points redeemed directly for airfare are now only worth 1.25 cents per point (formerly 1.6 cents on American and 1.3 cents on other airlines)

4th night free (the most valuable benefit for some)- You still get a 4th night cost credited back to you BUT-

It will be calculated based on the average nightly rate of your complete stay rather than the actual cost of the 4th night (a big deal for some destinations like Vegas- not an issue for others)


The statement credit won't reimburse you the taxes you pay on the 4th night- so that's a definite downgrade money wise.

The card remains a money maker even with the downgrades for at least the first year you have it- and still potentially one for future years if you can leverage the 4th night benefit decently.
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I've had the card since it debuted and I'm seriously considering canceling in 2017. The $250 flight benefit and 4th average night free will probably get me to break even or a little better on the annual fee.
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Just got the card for the Admiral's Club access & 4th night benefit. Personally don't care about the changes to the 4th night, but dropping Club access is a big hit. Really hoping that one of the new AA cards from Barclay's will offer premium benefits that compliment rather than overlap what Citi offers with the Prestige and their AA card.
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Joined Aug 2011
Uncertainty Drains Life
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I hate Citi customer service anyway. Think I am going back to AMEX Platinum.
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I wish credit cards were like cellphone carriers--that in light of service degradation you could cancel and switch without any hassle (like new credit checks.)
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Quote from soyanks View Post :
I hate Citi customer service anyway. Think I am going back to AMEX Platinum.
I've heard you can get the Ameriprise version of the Amex Platinum card without being an Ameriprise client. And since that version of the card has no $450 annual fee for the first year, might be worth a shot. (I haven't tried this myself.)
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Currently have Platinum and was debating to switch to this card but seems like Chase is coming out with a 100k bonus points card on August 21st.

Quote :
So I have heard via a very reliable source that Chase will be launching a new card within the next few months. It will be in the Sapphire lineup and will be based on travel and benefits. What I was told was it will be bonded metal (like the current Sapphire) not all metal (like the Ritz Card). They were going to make it all metal but balked at the last minute due to cost. I heard a fee of 300-400 as well but couldn't find out exactly how much. Lastly it will have 3X UR Points Per Dollar for travel. The name they are throwing around is the Sapphire Reserve and apparently the card looks pretty slick (for those that care about looks).
With the recent benefit reduction to the Citi Prestige this would be great time for Chase to launch a high end card with some similar benefits as the Prestige. I personally value UR Points over TYP Points so on a personal level depending on the benefits this would solidify me dropping the Prestige, even more so if the fee was 300 per year with some sort of airline incidentals / lounge / and global entry benefits.
The only thing I would worry about would be too many benefits being similar to their Ritz Card. However I would assume they would make more money off of a Chase card then a partner card, I could be totally wrong though. If they stick with some good travel benefits then this could compliment there hotel cards really well. Lastly the Sapphire lines has a pretty loyal following already and the blogs seem to drool over this card so it might not cannibalize their lineup to much.
Hopes this helps people on the fence between cards to wait it out till 8/21 Smilie
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