Summary Of The Negative Changes Coming To The Citi Prestige Credit Card

Well the hits keep coming with the Citi Prestige card. Another day, another devaluation. Here’s a summary of the negative changes coming to the Prestige card.

Summary Of The Negative Changes Coming To The Citi Prestige Credit Card

The following changes will go into effect July 29, 2018.

Worldwide Rental Car Insurance:

The insurance reimbursement will now be capped at $75,000 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 come into play after a 6 hour delay (this one hurts because it is doubled from the previous [industry best] 3 hour delay) and now only includes you and your family members.

Lost Baggage Protection and Emergency Assistance:

This benefit will now be limited to only 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 $1,500 annually and also exudes items such as firearms, jewelery, and watches (etc.).

The Bottom Line: Summary Of The Negative Changes Coming To The Citi Prestige Credit Card

At least Citi is still keeping some of the benefits of the premium Prestige card like Price Rewind and Purchase Protection (the latter is actually being eliminated from Chase’s premium Sapphire Reserve 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!