Citi Prestige Retention Call
Update: Several readers reported receiving retention offers, so my theory below is incorrect.
Update 2: To clarify, Citi has sent us a statement saying the Prestige card isn’t quite going away. Here is what a Citi spokesperson had to say:
Our go-to-market strategy continuously evolves to feature different products and offers. We remain committed to the Prestige product and servicing our valued existing cardmembers. We look forward to reintroducing the card for new cardmembers in the near future.
My Citi Prestige $450 Annual fee came due a few weeks ago and I made my yearly call to see what types of retention offers were available. A few weeks ago we reported that Citi has stopped accepting new applications for Prestige and the future of the card is uncertain at this point. I have found that I use the Prestige card the least of my premium cards and I’ve never used the fourth night free option. I know that seems crazy but every time I’d tried to use the benefit I found that there were cheaper options elsewhere. Originally, I had no intention of keeping the card open unless I got a great retention offer but the fact that the card is no longer available made me wonder if I should rethink closing the account.
I explained to the customer service rep that my fee was due and I’d like to know if there were any offers on my account because I was considering closing it due to the fee. She told me in no uncertain terms that my account wasn’t eligible for any type of offer. I politely thanker her and ended the call.
On my second attempt, I was told the exact same thing! I was really surprised because Citi Retention calls usually go pretty well. Shawn recently had great success with the same card (and a few others): Tripling Up Citi Retention & Great Offers on ThankYou & AAdvantage Cards. I’ve always received decent spending offers on all my Thank You branded cards in the past so I hadn’t really considered this option.
Other Data Points and Outcome
After my call I did a little research and found that both Shawn’s wife and PDX Deals Guy had the same outcome on their latest Prestige retention calls. At this point I’m pretty sure retention offers are no longer being offered for Prestige. I was given the choice to either downgrade to a no-fee card like the Preferred or the ATT card or close the account. After weighing my options, I chose to downgrade to the no fee preferred in the hopes that it prevent the 24 month bonus clock from resetting. I really can’t justify the $450 fee since I rarely utilize the benefits. I will certainly miss the extensive travel protection offered by Prestige but with the money I save I can protect my trips with insurance if necessary.