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We still have a Citi AAdvantage VISA which I declined to switch to Mastercard. Now they propose to replace the card with an AAdvantage American Express, and they will do so automatically unless I call them by 4.17.2007.
Inducements?
2,500 miles after first purchase
1.25 miles per dollar in the first 12 months, up to 10,000 miles.
Benefits?
No preset spending limit
2,200 American Express Travel Sevice locations
Premium Hotel Program through American Express Entre
Concierge service
Lost Luggage Coverage
Trip Cancellation/Interuption Insurance
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oooo... 2,500 miles!! :rolleyes:
Did they mail you a special note about this or put it in with your statement? I want to be on the lookout to make sure that they don't try pulling this crap with me. I already have an AmEx - a real one - I don't need another card on that network.
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but you dont HAVE to right?
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I got the same offer but with 5,000 miles.
It was not clear if the 10,000 mile maximum for the 25 percent mileage bonus is how many miles you can earn the bonus on (i.e., a bonus of 2,500 miles max) or the maximum bonus (i.e., you can earn it on 40,000 miles, for charging $40,000).
Doppy: It came in a separate letter with "Important Account Change Information Enclosed" (yes, in bold dark blue type) over the address window.
I'm trying to decide if there's any reason not to get it. I don't have an AmEx family card now, but I got my AA MasterCard only for the enrollment bonus and planned to cancel it at the end of its free year. If I do that, this switch would leave me with only a Diners=MC in the Visa/MC family. Would that be a problem? (I want to keep the Diners for primary rental car insurance coverage.)
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I got a terms of Service change on my Citibank Private Bank AA Visa card except they are not switching me from Visa to Amex they are raising my forex fee from 0% to 3%. They are uncapping the BT fee on my card and raising the min finance charge from $0.50 to $2.00. it says the changes will be effective for all billing periods begining on or after april 4 2007, weather or not I receive a billing statement.
So atleast I still have no cap milage card it sounds except the card just became worthless for purchase overseas. Guess I going to have apply for a crap one card. Unless someone else knows a no forex fee visa that better than them.
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The notice came in a separate "Important Account Change ..." envelope, as described by Efram. We seldom use this card, nonetheless I prefer to keep the VISA because it is a fairly old account (1997). I expect that because of the new account number Citi would report the Amex to credit bureaux as a "new" relationship. Even if they tell me otherwise I don't have confidence that the customer service reps understand the significance or have the authority.
I agree the 10,000 mile cap is ambiguous, but inasmuch as 1.25 miles per dollar is exactly the same as using SPG Amex it is no incentive. 2,500 miles is a weak offer when they are offering 8 times as much for new accounts.
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...would leave me with only a Diners=MC in the Visa/MC family. Would that be a problem?
I think you want to hold at least one each: American Express, Mastercard and VISA, ideally from separate issuers. There are periodic special offers tied to specific networks (Amex, MC, Visa) and there is always the possibility you will have a dispute with an issuer or the issuer will have a network failure that could cause transactions to be declined.
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Why does your title include a :td:? Seems to me like a pretty nice deal, the only downside I could see is if you're really that concerned about not having a Visa, but why can't you just apply for a Citi AA MasterCard separately.
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Why does your title include a :td:?
1. I dislike changes that occur unless I "opt out". I did call to opt out this morning and the CSR tried to induce me to upgrade to a more expensive AAdvantage VISA :rolleyes:
2. 2,500 miles is a trivial inducement.
3. The account dates from 1997 and I prefer to keep it on the credit report, at least for now.
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We seldom use this card, nonetheless I prefer to keep the VISA because it is a fairly old account (1997). I expect that because of the new account number Citi would report the Amex to credit bureaux as a "new" relationship.
They could report it with the original account opening date, but it's a bit of a crap shoot. AmEx, for it's self-issued cards, started back-dating everyone's account to the date of their first account opening. Some people who had green cards back in the 1980s that they have long since canceled have found that AmEx just started reporting accounts that they opened months ago as having been opened up 20 years ago ^^
This is a Citibank card, so there's no telling what would happen.
The other problem with AmEx guess your credit limit cards is that they almost always report to the credit bureaus as being maxed out because they don't report a credit limit.
Why does your title include a :td:? Seems to me like a pretty nice deal, the only downside I could see is if you're really that concerned about not having a Visa, but why can't you just apply for a Citi AA MasterCard separately.
Because of this tactic of announcing the change and making you opt-out. I don't get my statements sent to my current address, so there's a delay in me looking at this kind of paperwork, meaning that I could miss it. Now I'll have to waste my time calling in to make sure that they don't try to sneak this by me.
This would be a "pretty nice deal" if they offered it as an opt-in, and offered more than a pathetic 2500 miles. Also, applying for the Citi AA MasterCard still doesn't get you a Visa.
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Why does your title include a :td:? Seems to me like a pretty nice deal, the only downside I could see is if you're really that concerned about not having a Visa, but why can't you just apply for a Citi AA MasterCard separately.
It's not such a good deal. I googled
"american express" "credit card" citibank
and found this:
Earn 15,000 AAdvantage® bonus miles after $250 in purchases and no annual fee for 12 months.
http://www.citicards.com/cards/wv/showSearchResults.do?family=FAMILY_AMEX
Now, mia might argue "my credit score will go down!"
I don't think so. Mrs. USAFAN and I have lots of new cards, inquiries, canceled cards etc, and both have a score of 990.
... and there might be even a better deal out there, with 20,000, 25,000 miles!?! If you find it, please post it!
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I was going to suggest that you FAX a short letter to Citi customer service. Include a copy of the 15k offer and ask if they'll honor that when converting your card. Some report getting 20k in a targetted offer, but I've never seen it myself.
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It's not such a good deal.
Agreed. I realize I could generate additional miles or points by churning, but it's not my style ;) .
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Agreed. I realize I could generate additional miles or points by churning, but it's not my style ;) .
mia:
What exactly is "churning"? I looked in a dictionary and couldn't find a proper answer.
Thanks
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mia:
What exactly is "churning"? I looked in a dictionary and couldn't find a proper answer.
Thanks
did you look in the FT dictionary? Type it in search and you will get it !!! :D :D :D
By the way, can you have a higher credit score than 850? This is new information for me....
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By the way, can you have a higher credit score than 850? This is new information for me....
Yeah, the 3 credit agencies have come up with their own credit scoring system that they're trying to promote to compete with FICO's. IIRC, it mimics school grades so as to be "easier to understand", with 500 = F, 600 = D, 700 = C, 800 = B, and 900 - 1000 = A. They're trying to promote it, but I don't think any professionals are "buying it."
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What exactly is "churning"?
Applying for a card, receiving miles or points for activating the account, cancelling before the annual fee is due, repeating. :td:
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Applying for a card, receiving miles or points for activating the account, cancelling before the annual fee is due, repeating. :td:
^ ^ ^ ^ ^ Me likee the "C" word!
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By the way, can you have a higher credit score than 850? This is new information for me....
YES!
From Wikipedia:
In 2006, in an attempt to make scoring more consistent, the three major credit reporting agencies introduced VantageScore. VantageScore uses a different range from FICO (from 501 to 990) and also assigns letter grades from A to F to specific ranges of scores. A consumer's VantageScore may still differ from agency to agency, but the discrepancies would be entirely due to differences in the information reported to the various agencies, not due to differences in scoring models. Since FICO is still widely used by lenders, the agencies continue to offer FICO scores (or their closest equivalent) as well.
http://www.vantagescore.com/
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In 2006, in an attempt to make scoring more consistent, [B]the three major credit reporting agencies introduced VantageScore.
Typically when people discuss credit scores, they are referring to FICO or something on a similar scale. IMHO, if you're talking about a VantageScore, you should call it that to minimize confusion.
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Typically when people discuss credit scores, they are referring to FICO or something on a similar scale. IMHO, if you're talking about a VantageScore, you should call it that to minimize confusion.
What? From where would I get a FICO score now?
I got two scores in 2007 from two major credit reporting agencies! Both VantageScores. That's all I got, sorry - NO FICO SCORE! They made me believe, that this is the "new/actual" score now. Basically, what I was saying "When you have a good or excellent (whatever) score, your score will (almost) not change 'with lots of new cards, inquiries, canceled cards etc'
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Yeah, the 3 credit agencies have come up with their own credit scoring system that they're trying to promote to compete with FICO's. ... They're trying to promote it, but I don't think any professionals are "buying it."
But the VantageScore is all you get now.... how can I get a genuine FICO score?
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http://www.myfico.com/
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But the VantageScore is all you get now.... how can I get a genuine FICO score?
Fair Isaac developed the FICO score, they link to the following site:
http://www.myfico.com
Additional Info:
http://en.wikipedia.org/wiki/Credit_score
http://en.wikipedia.org/wiki/Fair_Isaac
http://en.wikipedia.org/wiki/VantageScore
http://www.fairisaac.com/fic/en/
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http://www.myfico.com/
Thanks.
I am going to check it.
I did two checks: TranUnion and Experian, both gave me the "new" VantageScore :confused:
When banks etc. work with the FICO score, VantageScore might be useless!?!
BTW, I appllied to day for this card, could not find/google a better offer:
Earn 15,000 AAdvantage® bonus miles after $250 in purchases and no annual fee for 12 months.
http://www.citicards.com/cards/wv/sh...ly=FAMILY_AMEX
See what happens ..
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If you have a Providian credit card, you can get the "old" score free every month by logging in at http://www.providian.com (now Bank of America but this website still seems to work).
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I did two checks: TranUnion and Experian, both gave me the "new" VantageScore :confused:
When banks etc. work with the FICO score, VantageScore might be useless!?!
FICO is the de facto standard. There is a large amount of correlation between FICO and Vantage, but they are different. For many years, TU/EX/EQ have tried to get people to use their proprietary scores (often referred to as FAKOs). They decided to band together and use their market position to try to dethrone Fair Isaac, but for now, FICO is what is used to make most credit decisions.
If you have a Providian credit card, you can get the "old" score free every month by logging in at http://www.providian.com (now Bank of America but this website still seems to work).
Note Wamu owns Providian, not BoA. And the FICO you get from there isn't really the "real" FICO either--it's what's called a Bankcard-adjusted FICO (or something like that). It's a credit score geared towards credit card risk rather than the more commonly used FICOs geared towards mortgage/installment loan risk. Again, will be correlated with the standard FICO, but not exactly the same.
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If you have a Providian credit card, you can get the "old" score free every month by logging in at http://www.providian.com (now Bank of America but this website still seems to work).
careful-- Providian (now WAMU) is a specialized FICO -- NOT identical to the FICO mortgage brokers would see. There is almost always a variance between "Classic FICO" and "Bankcard Industry Option FICO"
From Wamu's website:
"We display the Bankcard Industry Option FICO score. This score adjusts the Classic FICO score based on bankcard credit risk. The Classic FICO score measures a consumer's general credit risk; it is a tool that helps lenders predict how likely a consumer is to default on any credit obligation in the future. Large differences between the Classic FICO score and the Bankcard Industry Option FICO score indicate a consumer whose general credit risk is different than their bankcard credit risk."
the MYfico website gives you your Classic FICO and it's the score that most mortgage lenders use-- but if you're financing a car or securing a new insurance policy they'll pull a different one.
Auto lenders and Insurance have their own specialized FICOs-- Beacon 5.0 Auto Industry Option and an Insurance specific FICO-
then there's "Next Generation FICO" and "FICO Expansion Credit Score" for "Americans who have little or no credit information on file"
and on and on and on
Here's one article from Smart Money that discusses the various scores:http://www.smartmoney.com/debt/advice/index.cfm?story=scoresgalore
btw OP-- thanks for alerting me to this potential change. For years I've used my CitiAA card at places that wouldn't accept Amex.
A few months ago I switched to the Hawaiian Air Visa card. Now I'm really glad I did.
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I'm embarrassed. Yes it's WAMU, and the score they give me is provided by TransUnion. Mostly I mentioned this because it's an 850-based score, and not a 990-based.
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mia....is your AA visa a regular visa or a sig visa? I saw an ad in timemag and it showed an AA Sig Visa?
Is this still available?
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My AA Visa is a Signaure. As I mention in the other active thread on Signature Preferred, I'm not sure what benefits I'm getting from it versus any other level of Visa.
Citi doesn't issue new AA Visas to personal customers. If you already have one at a "lower" level, then you should be able to call Citi and ask them to "upgrade" you to this "higher" "tier."
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so what is the best bonus for new accounts?