Editor’s Note: This offer expired and is no longer available.
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.