Correction: It seems this information is NOT true. Citi said in a statement to Doctorofcredit:
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.
I guess the information sent out to bankers was just indicating a temporary pulling of the card, not how we understood it. Good news for Prestige enthusiasts. Perhaps some sort of product refresh is coming.
Original Post:
A reliable source tells us that Citi Prestige will be discontinued this fall. Existing cardholders will remain for now – no clear sunset date on the card.
This information was told to bankers today. They are being told to point customers to the AA Executive card as an alternative premium card. Prior rumors were that the Prestige card would be discontinued on August 18th so maybe that’ll be the exact date, we’ll see.
Reuters reported back in October that Citi has changed course and turned its marketing toward no-fee cards. “We shifted our focus away from rewards because of the competitive heat,” Citigroup Chief Financial Officer John Gerspach said in a conference call with reporters after posting quarterly results.
There is no signup bonus anymore on the Prestige card, and we don’t expect any to come before the card is retired for good. I guess someone can apply now if the benefits are especially worthwhile for you, but being that it’s a discontinued card we don’t even how long it’ll last, even for existing cardholders.
