Citi has sent out a mailer with news that they are automatically changing the Dividend card to a Custom Cash card unless the customer opts out. Probably the mailer is being sent to only select customers; we don’t know how widely it was sent out.
In any case, if you did get notice and prefer the Dividend card, you can opt out by tomorrow, September 9th. The product change will occur on September 19th.
Hat tip to MEAB
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My husband and I keep getting something wanting to change us from the Citi TY Preferred cards to the Citi Double Cash cards. Apparently the TY cards have some language about no late fees and no penalty interest fees if you're late, etc. and the Double Cash cards would eliminate that if we accepted them. I saw DC and thought it meant cash back instead of TY points but apparently it is just 2x points? Anyway, looks like we're better with TY but I have a feeling it will end up being this same situation where the changes are forced on us.
Troubling sign? Since yesterday when I log in to my Citi account my Dividend card now only shows up as "Citi Mastercard." I could swear it used to show up as "Citi Dividend Mastercard." The rewards still show as "Dividend Dollars," though, so probably OK.
I didn't receive any mailings lately about conversion, forced or otherwise. I do remember that happening a couple years ago, but nothing came of it then.
FWIW mine has said “Citi Mastercard” for several years.
I keep getting told my reps that I cannot keep my dividend card. They agreed that the letter was misleading but they say that I can only close my account or convert to custom cash. No option to keep the dividend card. Anyone have success?
You’re the first person who has apparently found a rep who knows about this, everyone else who called had their reps say they have never heard of such a thing.
Oh interesting. Well they were correct that the letter never explicitly stated that one can keep the dividend card. It only said that you can call up to opt out of the custom cash which, according to the rep and her manager, means you can close the card before it gets converted.
The ability to spend up to 6000 in single month in single category is very good. Custom card has its own benefits but it might be better to just get it as an additional card.
I wish the custom card was Visa and then I could just use it as Costco Card.
Tale of two different banks/products.
1) Called US Bank Altitude Reserve customer service, they answered within 30 seconds without going through a million VRU options. Yes I know the AF is significantly higher than the NAF Citi card, just let me be the get off my lawn old man. I was calling to re-confirm this is still true? Yes it is, call done in under 2 minutes.
https://www.doctorofcredit.com/u-s-bank-altitude-reserve-325-credit-works-on-dining-purchases-permanent-change-0-authorized-user-fee/
2) Called Citi regarding this letter, I have had my Citi Dividend Platinum Select the longest of any cards around 25 years or so. While attending college they had people roving around with clipboards and I signed up with a whopping $300 CL which is now around $16k or so. I'm aware that if they were to do a product change most likely the trade line date would transfer and I wouldn't lose it, I just don't need or want the custom cash card, Like others here I receive a lot of credit card mail and offers, it's sometimes hard to distinguish communication from offers, so they may not be opened or shredded or pile up. So there is a possibility they never sent it to me but I like to CYA. Tried calling, was able to get through to an offshore rep who insisted they would only product change if we called and requested it, I explained several times I may have received this letter which explicitly states you have to opt out. If I were to do a product change they would transfer me to their product conversion department which I requested they do. I explained the whole scenario over again and requested they notate my account that I am opting out and do not wish to have my card converted. I also tried online chat which resulted in a long wait and no agent ever came out. Perhaps i was never sent a letter which is why they don't see anything on their end? What a huge PITA.
If anyone has a similar experience, please share with the rest of us.
Thank you for your service.
Never received any type of communication about a product change. I called today and the Citi rep had never heard of such a thing. He put me on hold to check with his colleagues and told me they had never heard of such a thing.
Thank you for checking!
I like the Dividend card and will keep it if given the option.
Can you still get Citi Flex Loans with Custom Cash card?
People actually use those? I guess I shouldn't have to ask that since my son works in that area at Citi. I suppose it's cheaper than paying the normal credit card interest rate
Yea, Citi Flex Loans are available on the Custom Cash. They spam me with letters, emails, and site notifications all the time that I can get a Citi Flex Loan on my Custom Cash.
I am thinking that the Custom Cash Card may not be that much worse than the Citi Dividend card. I use the Citi Dividend only during the quarter that has 5% back on groceries, spending $6,000 to max out the $300 annual earnings. If I am converted to the Custom Cash Card, I can spend $500 each billing period on groceries for a total of $6,000 for the year and still earn the same $300 -- spread out over the entire year rather than all in one quarter. Is my understanding correct?
Your understanding is correct, and that's all well and good if all you're using it for is groceries. But there are other typical Dividend categories (e.g. Home Improvement, Travel, Furniture Stores) where $500 a month is way too little. I like the flexibility to get 5% off of $2000 in a single month if that makes sense that month based on my needs and the Dividend categories. I've got other cards to cover 5% on groceries the rest of the year.
They'll have to pry that Citi Dividend card out of my cold dead fingers.
Some could apply for the Custom Cash before the product conversion takes place and end up with 2, a very flexible scenario if one wanted to to spend $500 on each per statement period in the same or different categories...but without the firepower of covering a single large expenditure.
What is the advantages Citi Dividend card has over Custom Cash? Custom Cash has 5% category though it's limited to $500 in each billing cycle($6K/year) while the Dividend also has $6K limit/year for the 5% category.
For people who don't have many cards they may still find Dividend useful sometimes.
To me one major difference is Custom Cash earns Thank You Points. If used with business class tickets each TYP can be worth several cents. Of course, it requires a huge amount of points and flexible travel dates. So YMMV.
Some people might have liked being able to spend 6K at a supermarket or pharmacy once a year and being done with it.
Just spent $2k at a home improvement store. Got 5% on entire balance with Dividend card rather than just $500 with Custom Cash
^This. $500 (the monthly limit for Custom Cash) is nothing to spend in a single transaction, let alone a month, on home improvement if it's a big project. The same could be true for travel (think 2 airline tickets) and furniture stores. Let alone categories that Dividend periodically covers that Custom Cash doesn't (Best Buy, Amazon).
The best is to have both, and use the Custom Cash for a category not covered by Dividend (or Freedom, Discover, etc.)
Chris.
Has Dividend ever had travel as a category?
Until recently (pausing for Covid?), every year since I first PC'd to this card, they've had some sort of travel-related stuff in Q3.
2019 Q3: Airlines and car rentals
2018 Q3: Airlines & movies
2017 Q3: Airlines & Hilton Brands
2016 Q3: Car Rentals & Hilton Brands
2015 Q3: Airlines and Hilton properties
2014 Q3: Car Rental Agencies, Theme Parks, Movie Theaters, Hilton brands
2013 Q3: Hilton hotels & resorts, Car rental, movie theaters, theme parks
2012 Q3: Airlines, Car Rental, Back-To-School
It had both rental car and air travel in 2019. Air travel in 2018. Also had Hilton in 2017. Home improvement and Best Buy are frequently 5% categories.
I don't know if it was Travel or Airfare specifically, but I put plane tickets on it some years ago.