Question
Citi has decided to discontinue for "business reasons." Will this significantly ding my credit report - I don't want it to look like Citi dropped me for account-specific reasons.
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Call Citi and convert it to the Dividend Platinum card. Shouldn't have any effect on your CR then.
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I got this notice in the mail too. I thought it was a very unusual move that they are just closing the accounts....why aren't they converting them automatically to another type of account? As much as the credit card companies go through to get customers, it seems really odd that they are just walking away from the AT&T customers. Makes me think there must have been something in the contract when they bought the Universal Card accounts.
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Even stranger....I think it's only the "Cash Rewards" version that's being cancelled. If you go to www.universalcard.com you can still apply for the other rewards program card. Why didn't they just send a letter saying that cash rewards has been cancelled and that the card will now participate in the other rewards program unless you cancel. Seems odd that they are just dropping customers.
Also I wonder if this means the Citi Dividend Rewards card (which I also have) that has the same reward structure will soon be cancelled??
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As suggested I converted to the Citi Div Plat. I agree it is a strange way to treat customers, that is, not to automatically enroll in or at least offer a similar product.
Really hope they don't drop the AT&T Rewards Card, as that compliments my Premier Pass nicely.
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I too found this rather odd that Citi didn't offer a replacement card. That's OK, I haven't used my AT&T card in quite some time.
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Really hope they don't drop the AT&T Rewards Card, as that compliments my Premier Pass nicely.
I assume you're referring to the AT&T Universal Rewards Card. They've actually really changed the card. Previously it was 5 pts/$ on groceries, gas, drugstores, and AT&T products. Now it's only 5 pts/$ on AT&T products. I think Citi's general policy is to grandfather in older cards under the original terms so you're hopefully safe.
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I assume you're referring to the AT&T Universal Rewards Card. They've actually really changed the card. Previously it was 5 pts/$ on groceries, gas, drugstores, and AT&T products. Now it's only 5 pts/$ on AT&T products. I think Citi's general policy is to grandfather in older cards under the original terms so you're hopefully safe.
Not according to the letter I received from Citi. The "Cash Rewards" card has been discontinued. There are other ATT Universal cards which offer other benefits, including "Thank You" points, but according to the Citi letter, if a current Cash Rewards cardholder does nothing, the account will simply close, not remain open but with different terms.
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I got this notice in the mail too. I thought it was a very unusual move that they are just closing the accounts....why aren't they converting them automatically to another type of account? As much as the credit card companies go through to get customers, it seems really odd that they are just walking away from the AT&T customers. Makes me think there must have been something in the contract when they bought the Universal Card accounts.
I think that's a good guess. Probably, if they directly solicit ATT customers to switch to the Citi Dividend Platinum card they must have to pay some type of fee to the prior owners of the Universal Card. This way, instead of directly soliciting the switch, they only inquire if you'd like to switch after you initiate the call to Citi customer service.
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I assume you're referring to the AT&T Universal Rewards Card. They've actually really changed the card. Previously it was 5 pts/$ on groceries, gas, drugstores, and AT&T products. Now it's only 5 pts/$ on AT&T products. I think Citi's general policy is to grandfather in older cards under the original terms so you're hopefully safe.
right, AT&T Universal Rewards. So far so good on the grandfathering.