Citibank credit cards benefit changes (2019)


Hey guys, It’s your girl Bella. How are you? So, now in today’s video I’ll be going over
all of the ridiculous changes that Citibank is making to their current credit card rewards
and perks. And before I jump into that, make sure you
guys hit that subscribe button and the notification bell so you know my future videos are up on
YouTube. Now, I’m not sure if you are aware, but Citibank
will be eliminating many of the perks and benefits that most of us actually use when
we are signing up for our credit cards. Now, I find it pretty interesting that they’re
actually making these radical changes because the credit card rewards space is so competitive. We’ve seen over the last couple of years that
banks are actually adding perks and benefits. They’re actually adding new credit cards to
their portfolio to attract new customers and to retain their current customer base. So, it’s pretty ballsy that Citibank is making
these changes. So we’ll see how the market reacts. But let me cut to the chase and jump right
into it to let you guys know what changes you can expect later on this year. Now worldwide car rental insurance is one
of the benefits that will be going away later on this year. Now if you’re not familiar with what this
is, this is a benefit that you receive when renting a vehicle. Now as long as you decline the insurance that’s
offered by the rental car agency and you actually pay for the rental with your credit card,
that vehicle will be covered for loss or damage. Now the next benefit that will be going away
is trip cancellation and trip interruption insurance. Now this is a benefit that you can receive
as long as you pay for your trip on that credit card and if it is canceled or interrupted
in any shape or fashion you will actually be reimbursed for any out of pocket expenses
that you incur. Now the trip has to be prepaid and nonrefundable
in order to qualify. Now another benefit that will be going away,
his worldwide travel accident insurance. Now this is a benefit that covers you if you
are a dismembered or if you happen to have an untimely death while traveling the credit
card company will give some kind of financial reimbursement to your beneficiaries. Now another benefit that’s also going away
is called the Citi price rewind. Now this is a benefit that actually reimburses
you if something that you’ve purchased goes down in price within 60 days of purchase. Now, you yourself don’t have to do anything
like register your product or anything. Citi Bank automatically just searches with
that product periodically over the next 60 days to see if a lower price is found. If that lower price is found they will then
reimburse you for the price difference from what you paid versus what the lower price
is. Now another benefit that’s going away is the
90 day return protection. If you purchase an item from a retailer and
you are unable to return it because of their return policy Citibank will actually take
the item back from you and give you a refund. Now the other benefit that’s going away is
a trip delay protection. Now if you have a trip that’s delayed for
a number of hours and you incur certain costs related to meals, or lodging, or transportation,
Citibank will actually reimburse you for these costs as long as you pay for that trip with
the Citibank credit card. Now who haven’t noticed this list is starting
to get a little long and I have more benefits to get through. So anyway, the next benefit that’s going away
is baggage delay protection. If your luggage is delayed and you incur costs
as far as purchasing toiletries, and clothing, or anything like that to hold you over Citibank
will reimburse you for these out of pocket expenses. Now the next benefit that’s also going away
is lost baggage insurance. Now if your luggage is lost or damaged Citi
Bank will actually reimburse you for the fully damaged or lost items. And the last three benefits that are going
away are medical evacuations. Now if you are on vacation and you need to
have an emergency evacuation Citibank will actually pay for the cost of the evacuation. But it does not cover the cost of any medical
care that you need. You would still need your own medical insurance. They’re also getting rid of missed event ticket
protection. Now if you have tickets for an event and you
miss it for a covered reason they’ll actually reimburse you for the cost of those tickets. And last but not least, they are also getting
rid of roadside assistance. So, there is the laundry list of benefits
that Citibank is getting rid of. As you can see they are getting rid of some
pretty big hitters. These are some huge benefits that I know I
personally have used on my other credit cards and I’m just flabbergasted. I can’t believe that they’re just getting
rid of all these benefits. It’s just insane. Now luckily for me, I only have one Citibank
credit card and that is the Citi Simplicity card. I got that a couple of years ago primarily
because of the 0% APR. I think it was for 21 months or something
like that. So for me, I’m not really impacted by this. Most of my cards are with American Express
or Chase. I do have Discover and Bank of America as
well but I primarily use Chase and American Express for those perks and benefits like
trip protection, luggage protection, trip delay insurance. So, I am not overly impacted thank goodness. My only concern is that when one bank starts
to make changes the other ones tend to follow through and make similar changes. I really hope that’s not the case with Chase
or American Express. So, fingers crossed that they don’t make similar
changes but only time will tell. All right guys, that’s it for today’s video. As always thank you so much for watching. Now before you go, if you did like this video
hit that like button and don’t forget to subscribe. All right guys, catch you later. Bye.

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