Posted by William Charles on December 18, 2017
Credit Cards

Published on December 18th, 2017 | by William Charles

49

Citi Forward Cardholders To Be Product Changed To Citi ThankYou Preferred (Comes With $50 Spending Bonus)

December 18th, 2017 update: Cardholders are receiving e-mails/mail outs informing them that they will also receive a $50 bonus once you activate the new card and spend $500 through April 30th, 2018. Hat tip to reader @ArtKGreen

Update: Looks like the $50/$500 bonus is targeted as not all cardholders are receiving it (e.g some are receiving the packet with the other details but no mention of the bonus)

November 1st, 2017: Reddit user MsTuffsy waas told that Citi Foward cardholders will be converted to Citi ThankYou Preferred on January 3, 2018. The Forward card hasn’t been available for new applications for some time, it used to offer 5% categories (restaurants, movies, music and books purchases) but these were removed on June 4th, 2016. The card still gives you 100 ThankYou points every month if you pay your bill on time, so there will be some value lost there.

The product conversion shouldn’t reset the 24 month clock for Citi ThankYou point sign up bonuses, as long as this product change does not result in a new account number.



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49 Comments on "Citi Forward Cardholders To Be Product Changed To Citi ThankYou Preferred (Comes With $50 Spending Bonus)"

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Kevin
Kevin

I just hope I can PC it again to something more useful once this transition happens.

FILTHYMIDGETS
FILTHYMIDGETS

Same–hoping maybe I can PC to a Double Cash. It’s kind of absurd that you can’t PC the Forward anyway.

Andrew
Andrew

I’m not sure if account numbers will remain the same.

The Citi Forward is/was a Visa card, and the Citi Preferred is generally a M/C. They might take this opportunity to switch everyone over.

Paul
Paul

Would that mean that this product change would count as a new card towards Chase’s 5/24?

Matt
Matt

Nope.

Andy
Andy

So once Hilton leaves Citi, what do they really have left? American Airlines Card and its own Thank you Cards? That’s rather disappointing.

Chucks
Chucks

Sad! This once glorious card gave 5x TYP at restaurants and Amazon.com in unlimited quantities. When redeemed for AA airfare that was a whopping 8% back.

That died, but at least the 1200 TYP a year made it worth holding onto. But now noooo, we can’t have any nice things.

Alex
Alex

Yeah, I feel your pain. Have two forwards that used to get to get so much action (eat out a lot) and now they just do one amazon reload a month. I’m also bummed because I was hoping to get the thankyou preferred bonus eventually. Maybe theyll offer the bonus with the forced product change (I know probably not)?

TG
TG

I assume the account number will change. The Forward was a VIsa while Preferred are now only MC.

Eric
Eric

Why haven’t they done product change to Citi professional card?

Dave
Dave

THis is a bummer. My Forward card is one of my oldest, and if it converts to Preferred with a new number, will that show that it’s the same account? Or will my AAOA take a hit?

Bill
Bill

Product Conversions from one brand to another usually retain the history. In fact, there may be an entry for the “old” account that has a final status as “transferred”, and the “new” account usually retains the original date that the account was opened. The number can be changed. Some lenders will even change the number and not even report the old number. Synchrony and FNBO are two that I’ve noticed like to report “card lost or stolen” but others will often just report with the new number going forward.
Within Citi, and even with the Hilton change from Citi to Amex, the “new” entry should retain the old account opening date, status, payment history, etc.

The issue for some folks is when an issuer upgrades the card, as Synchrony and Comenity have been known to do – they will close out the old card and create a new entry with the new date.

Just last night I had to verify information on my credit report. I wasn’t sure which name to answer, but the two former servicers weren’t an option, and my current servicer was listed as being opened on the date I actually purchased the house.

Matt
Matt

There are two other concerns with this change:

1) Will it count as a new card for 5/24?

2) Will it reset the TYP card clock?

Seems like your answer here says that even if it is a new card number, it shouldn’t count as a new card for 5/24. Do you agree? And what about #2, any idea there?

Tony
Tony

Synchrony sucks. I’ve applied for Cathay card. First card sent to me was lost since I’m moved at the time I apply for the card. Call CS and she sent me a new one. Paid annual fee and 2nd account is totally clean. The thing here is they do two bad things:
1. They report both cards.
2. The first one being reported with $95 balance (that’s the annual fee) and after 4 months the account being marked as late. Took me 3 calls and 2 months already but issue not solved yet. On EX the 1st account still open but on EQ and TU they report the 1st one as closed.

Jimmy
Jimmy

I’ve been getting mailers on this for month trying to get me to convert. Of course I haven’t, partly because I already have a TYP card. So I wonder if I’ll now have two or they’ll just close it down.

Jeremy
Jeremy

What are the best options for product conversions: Costco, AT&T, and DC?

Ian
Ian

I got a mailer from Citi today confirming the PC, effective January 4, 2018. The loss of the ability to earn 100 bonus points each month for paying on time will certainly be felt (it was one of the only reasons I still used the card: spend $1 on the card each month, get 100% cash back). Too bad it’s one of my oldest cards — originally an mtvU then a Citi Forward and soon to be a middling ThankYou Preferred. I hope to be able to PC this to something more useful down the road.

Kevin
Kevin

Bad news… Mailer I received says “Your new Citi ThankYou preferred card will have a new account number”

Does this 100% mean if I we don’t preemptively cancel it’ll reset the 24 month clock? Seems nuts that a forced PC would do that but Citi gonna Citi…

I’m hesitant to cancel because it’s my oldest card by 2 years so it would really tank my active AAoA

david
david

I got the same mailer as Kevin today with the same information. My first instinct is to cancel so as to not reset my window, however my 24 month window recently was reset, and a product change to citi dividend would be useful.

My question is…I already have product changed two cards to dividend…any known data points on whether a 3rd card could be converted to Dividend?

Jeremy
Jeremy

I just called Citi to convert this and they stated I could not until the conversion to the TY Preferred is complete. Anyone else hear this?

M
M

Citi product conversions take 2-3 months. At this point, the only way to avoid resetting the 24-month clock on the Pref-Premier-Prestige family would be by closing your Forward.

az
az

We’ve already done the product change for different brand, from Costco AMEX to Costco Citi, account number was also changed. Never mind, it won’t be considered as a new account, at least, the opening date remains the same, which means the clock will not be reset.

JL
JL

I called citi customer service yesterday. The representative told me that

1) This will not count as a new account opening, he seemed to understand that I was getting at the 5/24 rule

2) I cannot PC the card to something else until the conversion to thank you preferred is complete.

3) The conversion WILL reset the 24 month clock on thank you point card sign up bonuses.

and lastly, the kicker,

4) Preemptively closing the forward card will ALSO reset the 24 month clock on thank you point sign-up bonuses. He explained that even though the Forward is doesn’t have “Thank you” in the name, you can still use the card to gain thank you points, therefore closing the card will reset the 24 month clock that triggers when you open OR close a thank you point-getting card. You might get a couple months earlier on the reset if you close now I guess vs the automatic conversion in January

As you can imagine, I was pretty pissed. I politely explained that was total BS, but he went on about how great the preferred is, and how I’ll be eligible 24 months after the conversion.

I’m not sure if this is actually how it will shake out, would love to hear some other experiences regarding this with citi representatives.

April
April

First post here – but I have a useful DP.
Like others, I received notice in the mail that my Forward card was being changed to the ThankYou Preferred card. I was approved last week for the Citi Premier card and was concerned that the impending PC would disqualify me from the signup bonus.
I called and talked to a rep who assured me I would still receive the signup bonus. I requested that she send me a secure message to my account confirming this (so I have some proof/backup if I run into any issues) and she did send it to me. Before talking to the rep on the phone, I used the chat feature on the Citi website to talk to another person and they also confirmed that I would receive the bonus and I would not have to close my old Citi Forward card.

Churnbaby
Churnbaby

I got an email yesterday from Citi to remind me of this product change to ty preferred. It also mentioned I can get a $50 statement credit for spending over $500 if done before April 30th. Not a bad deal for purchasing a quick GC.

Alex
Alex

Just a heads up: Got an email today for both of my forward cards reminding me of the conversion and that I’ll also get a $50 statement credit after $500 in spend through April 30th 2018. Nice consolation for a forced conversion. Seems Citi noticed my earlier comment above, haha.

Kevin
Kevin

Same email, no bonus offer. Maybe I should call?

It also mentioned the card being a MasterCard which makes more sense as to why the account number has to change…

Alex
Alex

Hmm.. It didn’t seem targeted, but maybe it is. I also got two flyers in the mail stating the same exact information. The offer is highlighted in blue:

Plus earn a $50 statement credit once you’ve activated your new card and spent $500 through April 30, 2018.2

Can
Can

Received an mail says the account number WILL change. Does it mean it will reset the 24 months clock?

SF
SF

I got this card when it was 5x dining / books / entertainment and included Amazon.com… It was so good back then. I almost entirely stopped using it when they took that off, except for a charge every few months to keep it active.

It looks like the only transfer partner I can get with this card is TrueBlue? And at a rate of 2:1 too? That’s so abysmal. Can anyone confirm if there are any other transfer partners? Would be nice to be able to transfer to LifeMiles.

jeff
jeff

50/500 must be targeted. i got the same mailer today w/o the special offer just a larger mastercard logo in its place.

leon
leon

Yes, I did NOT receive the 50/500 in the mailer. Also says my account number WILL change.

Anonymous
Anonymous

I did not receive the 50/500 in the mailer. I called and complained enough that other customers had gotten the offer. I spoke with a rep, then Account Manager from the Phillipines and then Account Manager in the US. The US-based Account Manager offered me $50 in a statement credit for being upset enough with them.

J.
J.

If the new card will reset the 24 months clock, should I apply for a new ThankYou Prefer card if I never had one?

Andy
Andy

Got a notification from my bill pay that a Citi card number has changed. Soooooo close to the 24 months.

Ian
Ian

I initiated a live chat with Citi customer service, as I was curious when I would receive my new card to start spending towards the $50 statement credit with $500 spend. I received some interesting information from customer service agent Ayush; I’d be curious to hear if others get the same response.

A slightly modified version of our live chat conversation is below; Ayush’s first message is in response to my initial question asking about when the new Citi ThankYou Preferred card would be sent out:

Ayush at 9:55, Jan 12:
The card will started dispatching from 18th of January, so most probably you might receive the card by the first week of Feb
Ayush at 9:55, Jan 12:
Don’t worry you can still keep on using the present card. Even online
You at 9:56, Jan 12:
Okay. Can you confirm for me that the $50 bonus cash back on $500 spend offer on my Citi ThankYou Preferred card is only valid when I activate and use the NEW card?
Ayush at 9:57, Jan 12:
I’ll be glad to check that for you
Ayush at 9:59, Jan 12:
Yes, You are absolutely right To qualify for the offer, you will need to spend $500 on your Citi ThankYou Preferred card within the first three months of activation
You at 10:01, Jan 12:
Oh, so I have three months after activation to spend the $500? The information I received in the mail said I had until April 30, 2018. Which is the correct time frame?
Ayush at 10:02, Jan 12:
April 30th 2018 is the time frame by which the forward card will be completely discard, however this offer would be considered from the date you activate the new card

Madison

For future reference – keep a copy of all the paperwork. I was denied the bonus on another card for less than 24 months. However, I faxed in the paperwork showing it was a forced conversion and they granted it.

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