Citi Dividend Platinum Select Card Conversions?

Written by nickel - 16 Comments

The other day I received an automated call from Citibank saying that they are planning on ‘upgrading’ my Citi Dividend Platinum Select card to a Dividend World MasterCard. They went on to say that, pursuant to a post card that they sent me sometime in the past few weeks, they would be automatically converting my card and issuing a new number in the next few weeks if I didn’t call 1-800-950-5114 to opt out.

Oddly enough, this news comes on the heels of a new Citi Dividend Platinum Select rewards promotion, so it seems unlikely that they’re phasing the card out. My knee-jerk reaction is that this “upgrade” wouldn’t be an opt-out thing if it didn’t serve Citi’s best interests. And more often than not, a credit card issuer’s best interests are not in line with your own. Since I didn’t recall receiving notification, I started digging through our recent mail. And sure enough, there it was…

Here’s a snippet of the text:

You excellent account history deserves and exceptional Citi Card.
Congratulations! Due to your noteworthy card history, your account is being upgraded. Your current Citi Dividend Card is being replaced with the new Citi Dividend World MasterCard, which will arrive in the mail soon, as long as you do not default under any cardmember agreement you have with us.

While they’re very upbeat about the change, I can’t help but wonder what’s in it for them. The card features make it seem like a pretty standard reward credit card, with the biggest changes being that the new card will be PayPass enabled (no need to swipe, just tap the card on the PayPass reader), have no pre-set spending limit (this can actually be a bad thing for your credit score as it changes the lack of defined limit changes the % utilization calculation), and also come with a personal concierge service (apparently for a fee).

All in all, I’m not too impressed, and will likely call them to opt out of the change (I hesitate to call it an upgrade) and stick with my Dividend Platinum Select card.

Published on May 25th, 2007 - 16 Comments
Filed under: Credit Cards
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Comments (scroll down to add your own):

I am interested with what you will be doing too. I also received the same email and was thinking just to let it go since I don’t really want to take the effort to call them. However, now that you mentioned it, I think I will have to reconsider it.
Comment by Hasby — May 25th 2007 @ 8:41 pm
Be careful about “opting out.” It may mean canceling your card, not keeping your card. Check to be sure…
Comment by Rich Schmidt — May 25th 2007 @ 11:17 pm
Rich, good point. However, in this case opting out means keeping your card as it is, as opposed to cancelling it. That was clear from the information that they sent.

Comment by nickel — May 26th 2007 @ 7:27 am
…until it expires, I’m guessing. Or do they promise to renew it for you?
Comment by Rich Schmidt — May 26th 2007 @ 11:44 am
I wrote about this same thing the other day. I found some good discussion about the pros and cons on Fat Wallet, and I decided to decline the upgrade.

It was a simple 1 minute phone call, and everything will stay the same with the current card.
Comment by Accumulating Money — May 26th 2007 @ 10:57 pm
Hi,

I had a strange encounter with my Citibank Platinum Credit Card when I tried cancel it. It wasn’t an upgrade like you got offer, or maybe it was depending on how you look at it. They basically offered me a $20K interest free loan for 9 months so that I don’t cancel it.

I post it as an article on my blog at
http://cheap-as-chips.blogspot.....onths.html
Comment by tehnyit — May 27th 2007 @ 8:12 am
Well, one annoying thing is having to change your credit card number. Then all the places that know your old number will know only about a card that’s no longer valid.
Comment by Debbie — May 27th 2007 @ 4:57 pm
I have decided to opt out. Dividend World Mastercard bring little to me and I prefer to have the same credit card number in addition to having set spending limit for credit report purpose.
Comment by Hasby — May 28th 2007 @ 6:56 am
I found out about this today - logged in online, and look at that! I have a new account. They haven’t called me since I don’t have an answering machine, and if they sent me notification in the mail I most definitelly did not read it since I receive tons of spam from them promoting all kinds of cards (in fact, I only open my statement). Unbelievable! I called them and requested that this ‘upgrade’ is reversed immediately, and they did reverse it.

I also asked for a mail address where to send a written complaint about this.
Comment by a — Jul 13th 2007 @ 11:15 am
I received a new Citi® Dividend World MasterCard®, too.

The primary difference compared to the Citi® Platinum Select® MasterCard® is the new RFID chip a.k.a. MasterCard® PayPass®.

As of today, Citibank isn’t publishing any information about it on their website. Although, their press releases explain they are targeting technology professionals…

I declined mine.
Comment by Mike Smullin — Jul 21st 2007 @ 2:59 pm
Interesting for those who were automatically converted to the new Dividend World MasterCard - Citi claims they sent me a mailer but I know I did not get it, so I could not decline.

Now I can’t go back to the Platinum card since Citi says a vendor database was compromised and my card number along with thousands of others were “compromised”. News to me.

Citi says we had to change the card number and expiration due to this “compromise”. However, Mastercard is not releasing the name of this vendor as the issue is being investigated.

I have to take the new World card or shop for a new card.

Does anyone else have anything on the database compromise?
Comment by Hobbit — Jul 26th 2007 @ 1:08 pm
I talked with a rep from Citi earlier this week. I was calling to sign up for a Citi Dividend Platinum Select, but she said they wouldn’t give me one because they are all being transfered to a Dividend World MasterCard. I think they are phasing it out.
Comment by John — Jul 27th 2007 @ 9:12 am
Update: i dont know about all of you; but, as of today, anyone can still apply for any of citi’s cards; such as Platinum Select MC, Dividend Plat Select MC, Diamond Preferred Rewards, or others. I dont know about it being phased out?
Comment by SavingEverything — Aug 6th 2007 @ 11:25 pm
Hmm, this sucks for people who traveled outside the country while this “upgrade” occurred. Any ideas for travelers like me to reverse back to my trusty Dividend Platinum Select when I come back home?
Comment by Jeff — Aug 25th 2007 @ 1:04 am
Jeff, your best bet is to call them.

Comment by nickel — Aug 25th 2007 @ 7:54 am
I was also recently given the “priviledge” of an upgrade to a World card. My experience however, was not positive, in that I told the customer service professional that I did not want the upgrade. Even though I HAD NOT ACTIVATED THE NEW CARD, the cold voice on the other end stated I did not have a choice. I then went up the ladder so to speak, finally getting a supervisor who stated the same.

A few weeks later, I received a notice in the mail stating my request for “downgrade” was denied. When I called and asked why, the CSR told me that because I had activated the card, I could not downgrade. I told her that I had activated the World card because I’d previously been told I had no choice.

I’m one of those people who don’t carry cash, and pay everything with one card. Yes, it’s a hefty bill, but that includes house, utilities, groceries, gas, etc., so it’s a real benefit.

After the way I was treated, I called corporate office, and sent two emails asking why this program was in the place and complaining about the way I was treated. Of course, no response.

Now, I’m going to cancel the card, because while it’s nice to receive benefits, none of us like to be treated like a number. Or ignored.

On a positive note, my AMEX platnium has been great to work with, and if you spend enough and call, they will waive the annual fees. Plus, you get to speak to people in the States. You can actually understand their CSRs! Pass it along - World card sucks.
Comment by Tavid — Sep 1st 2007 @ 10:51 am