Citi Upgrades My Dividend Platinum Card to Dividend World MasterCard
By Sun on May 5, 2007 in Credit cards, Personal finance
Post viewed 5711 times, 6 so far today
Notice in the mail from Citi says that my now little used Citi Dividend Platinum card is being upgraded to Dividend World MasterCard. After the upgrade (well, I don’t expect them to call any change “downgrade” even if it turns for worse like last time what FIA did on Fidelity 529 cards), the card essentially becomes a travel card as the leading benefits are travel related, including:
- Auto rental insurance
- Lost luggage coverage
- Trip cancellation/interruption coverage
- Roadside assistance
The big difference from previous card is not these features, but
- Tap and Go PayPass
- No pre-set spending limit
which are not benefits of the previous Dividend card. With PayPass, no signature is necessary for purchase under $25. In addition, the new card inherits some benefits from its predecessor:
- 2% cash back on purchases made at supermarkets, drugstores, gas stations, convenience stores, and utilities
- 1% cash back on other purchase
Edit: Regarding how much reward one could earn each year, the notice says
Earn up to 300 Dividend Dollars per calendar year payable in checks of at least $50 only upon your request. Dividend Dollars earned through the Citi Bonus Cash Center are not subject to the $300 annual cap.
Even with all these upgrades, I still think the card is not the right one for me as the cash back is no better than what I can get from, for example, Fidelity 529 card which pays 2% back on everything, or even the Chase Freedom card I got recently which gives back 3% on purchases made at the same places as the Citi Dividend card.
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Sean | May 6, 2007 | Reply
I agree with you that the new card is not going to be back in my wallet. But it may be worth mentioning that the new card comes with a Price Protection feature.
Dividend Cardholder | May 6, 2007 | Reply
Auto rental insurance and roadside assistance (pay per use) are already Platinum MasterCard benefits. Lost luggage coverage, trip cancellation/interruption coverage, price protection, and concierge service are World MasterCard benefits. The Citi Dividend Card is one of the few pure cash back cards available as a World MasterCard. This is indeed a nice card.
Sun | May 7, 2007 | Reply
Thanks for bringing up the Price Protection. I guess I must have missed that one. Actually, I don’t think I will use the card because I mainly look for a higher cash back from a card. Price protection is a feature that’s nice to have, but not the one that I really want.
N. S. | May 8, 2007 | Reply
This is quite fascinating. I wonder who is pushing for the upgrade? Citi and MasterCard will get more revenue since the interchange fee on World level cards is higher.
Some say to watch out on how Citi will report your credit limit–apparently on World level cards they report your highest balance making it appear that one spends 100% of ones credit limit every month rather than the actual credit limit and “recent” balance so that it shows you only spend a fraction of your credit limit.
There are standard benefits Citi must offer with World level MasterCard’s. Some are new above and beyond Platinum level and others are just improved above Platinum level.
Does anyone know if PayPass will be on the Payment Tag or embedded in the new card itself? I like that Citi put PayPass on the Payment Tag, because if you have it in your card, and you have to take your card out of your wallet to use PayPass, you might as well swipe anyways rather than tap or wave.
I’d say why not upgrade. If your cash back % will be the same, let them go thru the expense of sending you a new card.
Any word on if the maximum cash back per year will be lifted? Currently it is at $300, and frankly if you only used it at 2% merchants you would be maxed out at $15,000 in spend, and only at 1% merchants—$30,000 in spend. I know that those with World level MasterCard’s tend to spend more per month than Platinum level MasterCard’s. – How many of us would spend between 15,000 and 30,000 in the span of 4-6 months and then since we would get no more cash back drop the card in favor of something else? – This is if they do not raise the yearly cash back limit.
I doubt they will upgrade the student version of this Citi Dividend card.
Sun | May 11, 2007 | Reply
I just checked (and updated the post) that the dividend dollars you can earn every year are $300, the same as before.
High Credit Score | Aug 14, 2007 | Reply
The “World MasterCard” is the highest card that MasterCard offers, similar to the Visa Signature. Although you have a defined revolving credit line, there is actually no pre-set limit, and purchases over your defined credit line are approved on a case-by-case basis, similar to the standard American Express cards (Green, Gold, Platinum, Centurion). Additionally, there are no charges for exceeding your credit limit. As long as there is no annual fee (make sure you check for this), you should feel privileged to have a World MasterCard.
BTW, Platinum MasterCards also offer numerous travel benefits.
Tavid | Sep 1, 2007 | Reply
I was also recently given the “priviledge” of an upgrade to a World card. My experience however, was not positive, in that I told the customer service professional that I did not want the upgrade. Even though I HAD NOT ACTIVATED THE NEW CARD, the cold voice on the other end stated I did not have a choice. I then went up the ladder so to speak, finally getting a supervisor who stated the same.
A few weeks later, I received a notice in the mail stating my request for “downgrade” was denied. When I called and asked why, the CSR told me that because I had activated the card, I could not downgrade. I told her than I activated the World called because I’d previously been told I had no choice.
I’m one of those people who don’t carry cash, and pay everything with one card. Yes, it’s a hefty bill, but that includes house, utilities, groceries, gas, etc., so it’s a real benefit.
After the way I was treated, I called corporate office, and sent two emails asking why this program was in the place and complaining about the way I was treated. Of course, no response.
Now, I’m going to cancel the card, because while it’s nice to receive benefits, none of us like to be treated like a number. Or ignored.
On a positive note, my AMEX platnium has been great to work with, and if you spend enough and call, they will waive the annual fees. Plus, you get to speak to people in the States. You can actually understand their CSRs! Pass it along - World card sucks.
Tavid | Sep 1, 2007 | Reply
I was also recently given the “priviledge” of an upgrade to a World card. My experience however, was not positive, in that I told the customer service professional that I did not want the upgrade. Even though I HAD NOT ACTIVATED THE NEW CARD, the cold voice on the other end stated I did not have a choice. I then went up the ladder so to speak, finally getting a supervisor who stated the same.
A few weeks later, I received a notice in the mail stating my request for “downgrade” was denied. When I called and asked why, the CSR told me that because I had activated the card, I could not downgrade. I told her that I had activated the World card because I’d previously been told I had no choice.
I’m one of those people who don’t carry cash, and pay everything with one card. Yes, it’s a hefty bill, but that includes house, utilities, groceries, gas, etc., so it’s a real benefit.
After the way I was treated, I called corporate office, and sent two emails asking why this program was in the place and complaining about the way I was treated. Of course, no response.
Now, I’m going to cancel the card, because while it’s nice to receive benefits, none of us like to be treated like a number. Or ignored.
On a positive note, my AMEX platnium has been great to work with, and if you spend enough and call, they will waive the annual fees. Plus, you get to speak to people in the States. You can actually understand their CSRs! Pass it along - World card sucks.
me | Dec 29, 2007 | Reply
Same thing here.
The most sad thing is that they don’t give 5% cash back any longer.
I am looking for other options. AmericanExpress BlueCash card offers 5%, but only after over $6500 spending annually. Good for people who spend a lot of money.