citi discontinuing citi price rewind

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student
Posts: 3486
Joined: Fri Apr 03, 2015 6:58 am

Re: citi discontinuing citi price rewind

Post by student » Tue Jun 25, 2019 3:35 pm

anoop wrote:
Tue Jun 25, 2019 3:19 pm
student wrote:
Tue Jun 25, 2019 2:45 pm
I saw the same thing for my Double Cash. My knee jerk reaction is are they still going to call this "World Elite Mastercard?"
That's an interesting question. Extended warranty appears to be a benefit for all Mastercards.
https://www.mastercard.us/en-us/consume ... rcard.html
I wonder if Mastercard is getting rid of them.
Citi is probably big enough that they can force/convince mastercard to make adjustments.

kaneohe
Posts: 5750
Joined: Mon Sep 22, 2008 12:38 pm

Re: citi discontinuing citi price rewind

Post by kaneohe » Tue Jun 25, 2019 4:40 pm

TravelGeek wrote:
Mon Jun 24, 2019 3:28 pm
anoop wrote:
Mon Jun 24, 2019 3:24 pm
TravelGeek wrote:
Mon Jun 24, 2019 2:53 pm
Of course, in the US it was of limited value anyway for most users as it was secondary to personal car rental insurance coverage.
Interesting. I never realized that it was of little use. I always declined rental coverages saying "my credit card will cover it".
It should cover whatever deductible you have for your personal vehicle coverage. If you don’t have personal vehicle insurance, then the credit card insurance becomes primary. So you don’t do anything wrong.

It may also cover loss of use charges if you'e lucky.

Topic Author
anoop
Posts: 953
Joined: Tue Mar 04, 2014 1:33 am

Re: citi discontinuing citi price rewind

Post by anoop » Tue Jun 25, 2019 4:41 pm

kaneohe wrote:
Tue Jun 25, 2019 4:40 pm
TravelGeek wrote:
Mon Jun 24, 2019 3:28 pm
anoop wrote:
Mon Jun 24, 2019 3:24 pm
TravelGeek wrote:
Mon Jun 24, 2019 2:53 pm
Of course, in the US it was of limited value anyway for most users as it was secondary to personal car rental insurance coverage.
Interesting. I never realized that it was of little use. I always declined rental coverages saying "my credit card will cover it".
It should cover whatever deductible you have for your personal vehicle coverage. If you don’t have personal vehicle insurance, then the credit card insurance becomes primary. So you don’t do anything wrong.

It may also cover loss of use charges if you'e lucky.
Does that not get covered by primary insurance?

TravelGeek
Posts: 3097
Joined: Sat Oct 25, 2014 3:23 pm

Re: citi discontinuing citi price rewind

Post by TravelGeek » Tue Jun 25, 2019 4:54 pm

anoop wrote:
Tue Jun 25, 2019 3:19 pm
student wrote:
Tue Jun 25, 2019 2:45 pm
I saw the same thing for my Double Cash. My knee jerk reaction is are they still going to call this "World Elite Mastercard?"
That's an interesting question. Extended warranty appears to be a benefit for all Mastercards.
https://www.mastercard.us/en-us/consume ... rcard.html
I wonder if Mastercard is getting rid of them.
See the footnote associated with the extended warranty section:

^Effective July 1, 2019, this benefit will no longer be offered as a result of changes to the Mastercard consumer credit card program

TravelGeek
Posts: 3097
Joined: Sat Oct 25, 2014 3:23 pm

Re: citi discontinuing citi price rewind

Post by TravelGeek » Tue Jun 25, 2019 4:58 pm

Looks like BofA is also removing some benefit(s):

https://www.doctorofcredit.com/bank-of- ... insurance/

kaneohe
Posts: 5750
Joined: Mon Sep 22, 2008 12:38 pm

Re: citi discontinuing citi price rewind

Post by kaneohe » Tue Jun 25, 2019 6:03 pm

anoop wrote:
Tue Jun 25, 2019 4:41 pm
kaneohe wrote:
Tue Jun 25, 2019 4:40 pm
TravelGeek wrote:
Mon Jun 24, 2019 3:28 pm
anoop wrote:
Mon Jun 24, 2019 3:24 pm
TravelGeek wrote:
Mon Jun 24, 2019 2:53 pm
Of course, in the US it was of limited value anyway for most users as it was secondary to personal car rental insurance coverage.
Interesting. I never realized that it was of little use. I always declined rental coverages saying "my credit card will cover it".
It should cover whatever deductible you have for your personal vehicle coverage. If you don’t have personal vehicle insurance, then the credit card insurance becomes primary. So you don’t do anything wrong.

It may also cover loss of use charges if you'e lucky.
Does that not get covered by primary insurance?
don't know about other companies but State Farm didn't .

TravelGeek
Posts: 3097
Joined: Sat Oct 25, 2014 3:23 pm

Re: citi discontinuing citi price rewind

Post by TravelGeek » Tue Jun 25, 2019 6:18 pm

kaneohe wrote:
Tue Jun 25, 2019 6:03 pm
don't know about other companies but State Farm didn't .
No personal experience, but isn't the problem with loss of use charges often that

1. the insurance requires the car rental company to "prove" the charges by providing documentation (not just a bill for $xxx, but essentially proof that the car would have produced certain income based on fleet utilization), and

2. car rental companies are generally not interested in cooperating?

In other words, even if it is theoretically covered, does it in practice get covered?

tibbitts
Posts: 8978
Joined: Tue Feb 27, 2007 6:50 pm

Re: citi discontinuing citi price rewind

Post by tibbitts » Tue Jun 25, 2019 6:38 pm

anoop wrote:
Tue Jun 25, 2019 2:18 pm
OK, this is what it says for Double Cash.

What's discontinued:

Effective September 22, 2019, Worldwide Car Rental Insurance, Trip Cancellation & Interruption Protection, Worldwide Travel Accident Insurance, Citi® Price Rewind, 90 Day Return Protection, Damage & Theft Purchase Protection, and Extended Warranty will be discontinued and will no longer be provided for purchases made on or after that date.

What's remaining:

As a cardmember, you will also continue to receive a range of other card benefits including FICO® Credit Score, Citi® Identity Theft Solutions, and Citi Entertainment.

Time to dust off the Amex card.
Wow, I didn't even know there were mainstream cards not offering rental car insurance. It seemed like Double Cash had one of the better combination of benefits before, and now... seemingly the worst. Maybe the 2% is just costing them too much.

Didn't car rental coverage used to be part of the Mastercard program (at least for World and World Elite)? I see on the website it seems to be missing now - whether it was there before I don't know. It's still on the Visa website.

tibbitts
Posts: 8978
Joined: Tue Feb 27, 2007 6:50 pm

Re: citi discontinuing citi price rewind

Post by tibbitts » Tue Jun 25, 2019 6:47 pm

TravelGeek wrote:
Tue Jun 25, 2019 6:18 pm
kaneohe wrote:
Tue Jun 25, 2019 6:03 pm
don't know about other companies but State Farm didn't .
No personal experience, but isn't the problem with loss of use charges often that

1. the insurance requires the car rental company to "prove" the charges by providing documentation (not just a bill for $xxx, but essentially proof that the car would have produced certain income based on fleet utilization), and

2. car rental companies are generally not interested in cooperating?

In other words, even if it is theoretically covered, does it in practice get covered?
I haven't had personal experience with loss of use, but from what I've read getting coverage even through your own insurance can be problematic. I know that in general you have to be careful about what is or isn't covered by credit cards - for example "collision damage" vs. "loss damage." I'm sure no coverage is as good as the super-expensive waiver you can buy from the rental company, although I never buy it (well I did once, by mistake, luckily for only one day.)

kaneohe
Posts: 5750
Joined: Mon Sep 22, 2008 12:38 pm

Re: citi discontinuing citi price rewind

Post by kaneohe » Tue Jun 25, 2019 9:53 pm

tibbitts wrote:
Tue Jun 25, 2019 6:47 pm
TravelGeek wrote:
Tue Jun 25, 2019 6:18 pm
kaneohe wrote:
Tue Jun 25, 2019 6:03 pm
don't know about other companies but State Farm didn't .
No personal experience, but isn't the problem with loss of use charges often that

1. the insurance requires the car rental company to "prove" the charges by providing documentation (not just a bill for $xxx, but essentially proof that the car would have produced certain income based on fleet utilization), and

2. car rental companies are generally not interested in cooperating?

In other words, even if it is theoretically covered, does it in practice get covered?
I haven't had personal experience with loss of use, but from what I've read getting coverage even through your own insurance can be problematic. I know that in general you have to be careful about what is or isn't covered by credit cards - for example "collision damage" vs. "loss damage." I'm sure no coverage is as good as the super-expensive waiver you can buy from the rental company, although I never buy it (well I did once, by mistake, luckily for only one day.)
I don't know for sure what State Farm covers but I was told by one agent that they didn't cover loss of use. In one incident, I was pleasantly surprised that Citi Costco card did cover it. Whether they were given data or not , I don't know but I was somewhat surprised that they paid it.............or rather I paid it and then they reimbursed me. Since I paid it w/ the same card to the car rental company, it was charged as
a travel charge and I ended up 3% ahead.

Topic Author
anoop
Posts: 953
Joined: Tue Mar 04, 2014 1:33 am

Re: citi discontinuing citi price rewind

Post by anoop » Tue Jun 25, 2019 10:02 pm

TravelGeek wrote:
Tue Jun 25, 2019 4:54 pm
anoop wrote:
Tue Jun 25, 2019 3:19 pm
student wrote:
Tue Jun 25, 2019 2:45 pm
I saw the same thing for my Double Cash. My knee jerk reaction is are they still going to call this "World Elite Mastercard?"
That's an interesting question. Extended warranty appears to be a benefit for all Mastercards.
https://www.mastercard.us/en-us/consume ... rcard.html
I wonder if Mastercard is getting rid of them.
See the footnote associated with the extended warranty section:

^Effective July 1, 2019, this benefit will no longer be offered as a result of changes to the Mastercard consumer credit card program
So then looks like all of this might be driven by Mastercard. Which probably means Visa will follow and maybe even Amex. Just a speculation since the credit card business is essentially an oligopoly (as is most of the economy). It's the reason why all B&M banks have gotten away with offering an interest rate that effectively 0% since 2009.

brajalle
Posts: 225
Joined: Tue Jul 13, 2010 12:03 pm

Re: citi discontinuing citi price rewind

Post by brajalle » Wed Jun 26, 2019 7:02 am

anoop wrote:
Tue Jun 25, 2019 3:19 pm
student wrote:
Tue Jun 25, 2019 2:45 pm
I saw the same thing for my Double Cash. My knee jerk reaction is are they still going to call this "World Elite Mastercard?"
That's an interesting question. Extended warranty appears to be a benefit for all Mastercards.
https://www.mastercard.us/en-us/consume ... rcard.html
I wonder if Mastercard is getting rid of them.
On various sites, it's discussed that what Mastercard and Visa offer nowadays is essentially an ala carte list of benefits available - it is up to the card issurer to select the ones it wants for each card. A good example is various Visa Infinite card issuers offering/not-offering the $100/flight ticket benefit. Based on that, and the ~2% rewards on the Double Cash, it appears like they can easily offer a "World Elite" card that has virtually no benefits...and will likely keep it as such since the "premium" cards have a higher interchange rate.

To the best of my knowledge, Citi's various insurance programs were actually not directly through Mastercard - ie Citi was typically Viriginia Surety or such - so this may not be directly related. Of note, outside of the Dividend and Double Cash, the extended warranty benefit remains on all other Citi cards. Despite that, it doesn't bode well for this benefit.

drawpoker
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Joined: Mon May 19, 2014 6:33 pm
Location: Delmarva

Re: citi discontinuing citi price rewind

Post by drawpoker » Thu Jun 27, 2019 10:20 pm

Wow, did not realize CitiCard was discontinuing this benefit, if they mailed me anything about it I musta throwed it away w/out reading :oops: Been known to do that more than once :( :(

What I liked about it - Didn't have to do a damn thing - no heavy lifting, no effort at all, to initiate a claim. It was all done automatic. The times I got back $$ as I recall was from ordinary household stuff from Lowe's, Home Depot, ceiling fans, plantation shutters, area rugs, etc. That type stuff.

The way it worked, their computers kept track of the pricing on these items somehow (maybe the SKI # or something) and they would automatically know when that same item sold for less in the following 30 days, and, Bingo, I got alert that I had money coming to me :D :D

The poster who wrote here earlier? About notifying the price rewind program each time to receive his/her benefit? Doesn't quite ring true (?) I mean, that is not how it was supposed to work - makes me wonder if they had to discontinue it because too many people were gaming the system.........jes askin', you know.....

Luckywon
Posts: 490
Joined: Tue Mar 28, 2017 10:33 am

Re: citi discontinuing citi price rewind

Post by Luckywon » Fri Jun 28, 2019 12:25 am

drawpoker wrote:
Thu Jun 27, 2019 10:20 pm
Wow, did not realize CitiCard was discontinuing this benefit, if they mailed me anything about it I musta throwed it away w/out reading :oops: Been known to do that more than once :( :(

What I liked about it - Didn't have to do a damn thing - no heavy lifting, no effort at all, to initiate a claim. It was all done automatic. The times I got back $$ as I recall was from ordinary household stuff from Lowe's, Home Depot, ceiling fans, plantation shutters, area rugs, etc. That type stuff.

The way it worked, their computers kept track of the pricing on these items somehow (maybe the SKI # or something) and they would automatically know when that same item sold for less in the following 30 days, and, Bingo, I got alert that I had money coming to me :D :D

The poster who wrote here earlier? About notifying the price rewind program each time to receive his/her benefit? Doesn't quite ring true (?) I mean, that is not how it was supposed to work - makes me wonder if they had to discontinue it because too many people were gaming the system.........jes askin', you know.....
The program's default is for Citibank to monitor for a lower price. However, there is an option for you to manually submit a lower price, which is what I assume the poster you are referring to was writing about.

squirm
Posts: 1793
Joined: Sat Mar 19, 2011 11:53 am

Re: citi discontinuing citi price rewind

Post by squirm » Fri Jun 28, 2019 8:34 am

I won't miss it, frankly forgot it was even there. Tried to use it a couple times.

Topic Author
anoop
Posts: 953
Joined: Tue Mar 04, 2014 1:33 am

Re: citi discontinuing citi price rewind

Post by anoop » Tue Jul 02, 2019 3:34 am

Nerdwallet has a recent article about this and all the other benefits that are being discontinued.
https://www.nerdwallet.com/blog/credit- ... -benefits/

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