Just like they’ve done with the Citi Prestige card, Citi is dishing out another devaluation – this time for the Citi Premier credit card. Here is a summary of the negative changes coming to the Premier credit card.
Summary Of The Negative Changes Coming To The Citi Premier Credit Card
The following changes will go into effect July 29, 2018.
Worldwide Rental Car Insurance:
The insurance reimbursement will now be capped at $50,000 and will not cover loss of use, agency fees, or taxes.
Trip Cancellation & Interruption Protection:
The reimbursement amount will be now be limited to a maximum of $5,000 per trip and cover only you and your family members (other travel companions are eliminated from this benefit).
Damage & Theft Purchase Protection:
This benefit will now move to a secondary insurance policy and be capped at a maximum of $10,000 within 90 days. Coverage will now exclude items such as firearms, jewelery, and watches (etc.).
Trip Protection and Baggage Delay Protection:
This benefit will now only include you and your family members.
Citi Price Rewind:
This is another change that will hurt. This benefit is now reduced from $2,000 annually to $200 per item – and then limited to $1,000 annually. This benefit will also now exclude items such as firearms, jewelery, and watches (etc.), as well as warehouse clubs (or establishments where a membership fee is required).
90 Day Return Protection:
The final benefit cut goes to the 90 day return protection benefit which is now capped at $300 per item and $1,000 annually and also excludes items such as firearms, jewelery, and watches (etc.).
The Bottom Line: Summary Of The Negative Changes Coming To The Citi Premier Credit Card
At least Citi is still keeping some of the benefits key of the Premier card like Price Rewind and Purchase Protection (the latter is actually being eliminated from Chase’s competitor card, the Sapphire Preferred card).
Although these changes are a very real devaluation, almost none of these changes are outright ridiculous. Nevertheless, they still hurt. No doubt, the devaluations are going to keep on coming. so it’s best to take advantage of the benefits when you can [now].
Cheers!
