Credit Card Renewal

12 May

I am insanely pleased with our credit card. We got it about 4 years ago when Citibank were running a special promotion. It expires at the end of May and we were worried that it was such a sweet deal that they wouldn’t renew it. It’s 60 days (I think) interest free, rewards points, no annual fee, and travel insurance. Citibank don’t get any interest off us, but they’re getting fees from the merchants, so it’s not like they’re losing money. We’re in this awkward spot where we don’t spend so much on the card that the annual fee becomes negligible, but we spend enough that the gift cards we earn are a nice bonus and not something we really want to give up.

It was getting close to the expiry date, and James was researching alternative credit cards in case Citibank didn’t come through. And there was nothing that even came close to ours! When we first moved from our CBA credit card to this one we asked CBA if they could match it the deal and they couldn’t.

The only (slight) hassle is that Citibank keep trying to change our card. When James called them about doing a chargeback they tried to “upgrade” us to a card with an annual fee. The lady was super sneaky about it too. She was describing all the features, and then she said “the annual fee is only $149 a year. If that all sounds good to you, I’ll just upgrade you now”, and James was like “what??!”

But anyway, our new cards arrived and James gave Citibank a call to activate them. I’d assumed that the process would be automated, but I guess that’s missing out on another sneaky selling opportunity. James was on the phone for ages because the guy was trying to sell him stuff, like a home loan. James kept saying stuff like “alright, I’ll keep that in mind” while clutching his head and making crazy faces at me. Also the guy offered to upgrade us to a card with better rewards at the same annual fee.

James: I currently pay no annual fee.
Citibank Guy: Let me check what we can do.
*puts James on hold*
Citibank Guy: You’re on the no annual fee for life deal. That’s pretty good. But the executive card gives you an extra 0.25 points per dollar spent, which makes it worth the $149 annual fee.
James: I don’t think so.
Citibank Guy: *defeated* Yeah. I understand.

Now that we have the card, it’s time to update it with Paypal, eBay, Ground Zero and HBA. Then we’re safe for another few years, when it will be time to go through it all again.

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3 Responses to “Credit Card Renewal”

  1. xguard May 13, 2011 at 2:26 pm #

    haha “soup for you” to the citi bank credit card guy

  2. xguard May 13, 2011 at 2:27 pm #

    oops I mean “no soup”

    • pamperedhousewife May 13, 2011 at 3:21 pm #

      Indeed! James is good at using maths to make sales people sad – when we got our home loan and the lady was trying to sell us an upgraded package because it supposedly worked out cheaper overall, he did the calculations in front of her to show that it was a lie.

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