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Monday, July 9, 2012

Citibank PremierMiles Visa Signature and Platinum Card Benefits 2012

An article by GenX GenY GenZ : http://generationsxyz.blogspot.com
Please do not reproduce/reprint this article in whole or part in any form. 

[ Latest Update July 2013 - Citi PremierMiles Visa Signature Priority Pass Membership Card feature has been revoked. It still offer FREE entries to selected Plaza Premium Lounge at several countries. Also a new Citibank PremierMiles American Express has been introduced where it offer better Enrich Miles conversion compared to the Citi PremierMiles Visa Signature. To learn more on Enrich Miles conversion click here to my article where I will show you how you can get equivalent to 2 digit cash back, it is not a typo, YES xx% cash back. 

And to read my brief review of the Citibank Prestige World MasterCard Elite versus Alliance Bank Visa Infinite, UOB Visa Infinite and Standard Chartered Bank Visa Infinite, please click here to my article The Best Credit Card for FREE Entry to Airport Lounge 2013.

Update 6 September 2012 - Effective November 2012, Citibank PremierMiles Visa Signature and Citibank Platinum NO LONGER grant FREE entries to LCCT Plaza Premium Lounge]

It has been more than a year since my wife was issued the Citibank PremierMiles Visa Signature and I, the Citibank Platinum Credit Card - click here to read my previous article at My Credit Cards Blogspot.


Citibank waived both my wife's PremierMiles Visa Signature and my Platinum Visa card annual fee this year even thought we hardly use them. When my wife called up Citibank for the waiver, she was informed that the card came with 2 years free annual fee. For my case, I wanted to cancel my Citibank Platinum Visa because I hated the number, guess what, Citibank was kind enough to issue me a new platinum credit card with new 16 digit numbers for free :) Click here to read my previous article titled New Citibank Platinum Credit Card.



Well, this year, Citibank has "downgraded" the Travel Insurance for both the Citibank PremierMiles Visa Signature and Citibank Platinum credit cards. And since both my wife and I have these cards, I thought I should check out the new card features and at the same time share with you, too, on what is good and what's not that fantastic compared to other cards in My Credit Cards collection.

Both the Citibank Premier Miles Visa Signature and Platinum annual fees are the same at RM600. If you are a new applicant, the first year annual fee is waived subjected that you use the card 3 times within 60 days from issuance. Check out Citibank's website to see what fFREE gift they're offering for  new applications.

Unlike the last article where I compared the Citibank Premier Miles Visa Signature versus Citibank Platinum credit card, this time round I will separate the review individually because the card features  this time round is just simply different. Besides no Toll Free Customer Service number to call, the only common card feature that the PremierMiles has with the Citibank Platinum is unlimited FREE entries to KLIA and LCCT Plaza Premium Lounge and recently Senai and Langkawi too (thanks to Explorer II for the update, see comments below) . 

Citibank PremierMiles Visa Signature Benefits 2012



The Citibank Platinum earns you reward points where you can redeem for stuff or vouchers whereas the Citibank Premier Miles Visa Signature earns you PremierMiles. 1 PremierMile = 1 Air Mile or 0.73 Enrich Mile. Click here to read how to redeem the PremierMiles.

Currently, new card members are entitled to 2000 PremierMiles upon their first transaction.

The thing is, Citibank was offering their Platinum cardholders the PremierMiles credit card when it was launched. However, not everyone are into airmiles. I got good news for you, you can convert your PremierMiles earned to cash back :)

Minimum 5000 PremierMiles  = RM90 cash back and increment of 1000 PremierMiles can be converted to RM18 cash back :) So I am sure you would like to know what is the actual returns right? 

Spend RM3 = 1 PremierMile
Therefore, to earn 5000 Premier Mile you need to spend RM15,000.
And 5000 PremierMiles you can redeem RM90 which equates to actual cash back of  0.6% (RM90/RM15K).

So in other words, for those who are not into converting their PremierMiles to airmiles with airlines, you can earn 0.6% with the Citibank PremierMiles Visa Signature, which is not too bad considering the average returns one earns from their credit card is 0.5%. Of course no credit card currently can beat Maybankard 2 AMEX 5X TP for local spending and Maybank Visa Infinite 5XTP for overseas spending (with one of the lowest conversion rate in town). 

I mentioned earlier that the Citibank PremierMiles and Platinum both grant their cardholders unlimited entries to Senai, Langkawi, KLIA and LCCT Plaza Premium Lounge. Well, the PremierMiles in addition offers 2 free entries to airport lounge worldwide with the Priority Pass Membership Card. 

For Malaysia Airline Business Class tickets, you'll get 80% and 40% off the second and third ticket respectively if you book your tickets through Mayflower ACME Tours. Last year, the Citibank PremierMiles gives you 10% and 15% off return published fare for Malaysia Airline Economy class SmartSavers and SmartFlex respectively; but, this "benefit" has been removed. Like I mentioned earlier, Citibank has downgraded some of the card benefits. 

Another "benefit" which has been downgraded is the Travel Accident Insurance. It used to cover the cardholder up to RM1,700,000.00 but this is no longer the case. It now offers Travel Inconvenience coverage (Limit per cardmember per occurrence) as follows:

  • Flight Delay: Up to RM2,500 for delay longer than 4 hours or flight cancellation.
  • Missed Flight Connection: Up to RM2,500 for missed connecting flights lasting more than 4 hours.
  • Baggage Delay: Up to RM2,500 for delay longer than 6 hours when travel to overseas.
  • Baggage Loss: Up to RM12,000 if your luggage is lost or not delivered within 24 hours when travel to overseas.
  • Baggage Damage: Up to RM500.
  • Trip Cancellation: Up to RM16,000 per trip/ RM32,000 in aggregate per policy period.
  • Wallet Guard: Up to RM500 for loss of wallet due to snatch theft or robbery.

The good news is that the The Personal Accident Insurance up to RM300,000.00 and Overseas Medical Expenses Insurance up to RM50,000.00 still remain the same. And you also get "Home Away Content" insurance if you suffer a burglary to your home and its contents while you are away,  up to a maximum of RM15,000 per year.           


Of course there are Terms and Conditions to be eligible for the above mentioned insurance and one of them is you need to pay full fare. So next time before you purchase your ticket, check with Citibank because the link for the policy in PremierMiles webpage is not functioning. 





And until 28 November 2012, if you swipe your Citibank PremierMiles 3 times overseas and you arrive home via KLIA, you are entitled to a free budget cab (Citibank calls it Limo because the company that provides the service is called Airport Limo Sdn Bhd, hahaha)  ride home in Klang Valley only. For terms and condition for the free ride home, click here.

For more info on the Citibank PremierMiles Visa Signature benefits and privileges, click here.


Citibank Platinum Credit Card Benefits 2012


The Citibank Platinum Visa and MasterCard now offers UNLIMTED FREE entries to KLIA and LCCT Plaza Premium Lounge (last year it was 12 times a year) and recently added Senai and Langkawi to the list.

Citibank Platinum Credit Cards still earns you 5X Reward Points (maximum up to RM3,000 spent per month) at Isetan, Jusco, Marks & Spencer, Metrojaya, Parkson, Robinsons, Tangs, Carrefour, Cold Storage, Everise, Giant, Servay and Tesco. The PremierMiles don't get this benefit. 


However, just like the PremierMiles Visa Signature, Travel Insurance of up to RM1,700,000 is no longer applicable but replaced with Travel Inconvenience Insurance covered by Ace Jernih.

Travel Inconvenience Coverage (limit per cardmember)
  • Baggage Loss: Up to RM12,000 if your luggage is lost or not delivered within 24 hours when travel to overseas.
  • Baggage Damage: Up to RM500.
  • Baggage Delay: Up to RM2,000 if your luggage is not delivered within 6 hours when travel to overseas.

Overseas 24 Hours Personal Accident
  • Covers you and your supplementary cardmember(s) for any personal accidents incurred while overseas of up to RM200,000 when you charge your travel ticket to your Citibank Platinum Card.

Home Away Content
  • If you suffer a burglary to your home and its contents while you are away, you are eligible to be reimbursed up to the sum insured, up to a maximum of RM15,000 per year.

And here is some good news, in addition to Purchase Protection Plan, the Citibank Platinum Credit Card now offers Refund Protection and Extended Warranty. But you better read the terms and conditions to fully understand what is covered and what is not.

The Refund Protection sounds great - "if you are dissatisfied with your purchase within 30 days and the retailer refuses to take the purchased item back, you can return it and be reimbursed with the purchase price up to RM1,500 per item/ RM8,000 per occurrence". However after reading the terms and conditions, it is like almost useless because one of the condition is - "The item returned by the Cardmember must be received by Us brand new (with original label still intact), undamaged, in good condition and in working order". Heck, in order to know we are satisfied with our purchases, we have to try or use the purchased items or else how would we know we are dissatisfied. But once you use the product/item, it is no longer BRAND NEW and therefore you can't claim right? Not only that, below is the list not covered under this insurance plan:

- animals and living plants;
- one of a kind items (including antiques, artwork and furs);
- limited edition items,
- going-out-of-business sale items;
- consumable and perishable goods;
- jewelry and precious stones;
- services and additional costs (such as installation charges, warranties, shipping or memberships);
- rare and precious coins;
- used, rebuilt and refurbished items;
- compact discs;
- digital video discs;
- audiotapes;
- video-tapes;
- computer software;
- books of any kind;
- health care items (such as blood pressure machines and diabetes equipment);
- tickets of any kind;
- motorized vehicles and their parts;
- firearms;
- land and buildings;
- negotiable instruments (such as promissory notes, stamps, and travellers cheques);
- cash and its equivalent;
- and items permanently affixed to home, office, vehicle, etc. (such as garage door openers, car alarms);
- illegal property;
- formal wear including, but not limited to, evening gown, wedding gown or tuxedo;
- underwear (hahaha, even if it is brand new it is not covered)
- surcharge, etc.

As for the Extended Warranty - it is pretty good because it covers you for twice the period of the original warranty (maximum 4 years from date of purchase). Here are the things that may be covered under this insurance plan (I have highlighted in bold where I think this extended warranty may be actually good) - 

Air Conditioner
Microwave
Camera
Blender, Mixer
Dishwasher 
Refrigerator
Washing Machine
Dryer
Mobile Phone
House phone
Answering Machine
Iron
Juicer
CD/VCD/DVD
Coffee Maker 
Polaroid
Compactor
Portable CD
Cordless phone
Receiver/amplifier/speaker
Electric Stove 
Sewing Machine
Electric Wok
Toaster
Fan
Vacuum Cleaner
Fax
VCR
Food Processor
Heater
Toaster Oven
Electronic Flash
TV (See below, LCD and LED???)

Items not covered under Extended Warranty:


Computer (including notebook and other portable computing devices)
Modem
Monitors
MP3 players
PDAs
Plasma TVs
Printers
Products used for commercial purposes



Heck, I was hoping that his Extended Warranty included computers as none of my notebooks with graphic card ever last more than 3 years (those without graphic card can last like forever). And they are smart too, it does not cover Plasma TV.  

Click here to read more on the insurance coverage provided with the Citibank Platinum Visa and MasterCard.

CONCLUSION


The Citibank PremierMiles Visa Signature is now the only card in the Visa Signature category that offers the Priority Pass Membership Card since the HLB Visa Signature no longer issues it to new customers. I must say that the unlimited FREE entries to KLIA and LCCT with both the Citibank Visa Signature and Platinum is pretty good. 

As for PremierMiles conversion to airmiles, I have shown in my article Premier Credit Cards - Privilege and Exclusive Credit Cards that there are other better cards for every Ringgit Spent for Enrich Miles. To earn 1 Enrich Mile one need to spend RM4.11 with the Citibank PremierMiles VS. 


Other than the FREE Unlimited entries to Senai, Langkawi, KLIA and LCCT Plaza Premium Lounge, I guess in general Citibank PremierMiles or Platinum standard card features are not that outstanding if one were to compare to Maybankard 2 Cards American Express where the cardholders earn 5X Treats Points  ( equivalent to approximately 2.5% returns when redeeming for cash vouchers - click here to see example in my article FREE Money from Maybankards ) everyday for any transactions.

The Citibank PremierMiles Visa Signature does offer discount for Business Class tickets with Malaysia Airline.  But, if you really fly business class, most probably you will also qualify for a Visa Infinite or World MasterCard which also gives you the same offer or even better.


In my opinion, Citibank PremierMiles is neither here nor there for a so called card that is ranked higher than a Platinum Card. The card is supposed to target frequent flyers but then again, it only offers 2 free entries to airport lounges worldwide. The conversion of PremierMiles to Enrich miles (RM4.11 = 1 Enrich Mile) is just not competitive with HSBC Visa Signature's new conversion rate of RM3 = 1 Enrich Mile. And in my article titled HSBC Visa Signature and Premier World MasterCard, I have shown even an Entry Level credit card offers better Enrich miles redemption than the HSBC Premier cards!!!  The only reason why I would think anyone would want the Citibank PremierMiles is because of the FREE access to airport lounge. And for those holding the Citibank PremierMiles but don't travel by air, I guess you are like me, collecting "useless" credit card just for the shiok sendiri sensation, hahaha.

However, Citibank credit cards do offer pretty good limited time promotions and one of them is Free movie ticket at TGV every Saturday until end of this year. Click here for latest Citibank Credit Card Promotions 2012 

OTHER RELATED REVIEWS 

Click here to read my article - How I Benefited with My Credit Cards for My Macau Trip. My wife  entered Macau Airport Lounge with the Priority Pass card issued with her Citibank PremierMiles credit card. In this article I also posted photos of the airport lounge in Macau and LCCT Plaza Premium Lounge. 




Click here to read about more about the HSBC Premier World MasterCard and Visa Signature.  The HSBC Visa Signature do not grant you a single free access to KLIA Plaza Premium Lounge. 

Click here to read more about Citibank Platinum Cashback Credit Card. In this article, I did compare the Citibank Platinum Cash Back versus Maybankard 2 American Express card. 
Click here to my article titled New Credit Cards 2013 in Malaysia where I did a review comparing CIMB Cash Rebate Platinum MasterCard versus Citi PremierMiles American Express versus Citi Prestige MasterCard Master Elite versus Hong Leong Bank Wise Visa versus, RHB Visa Signature vs. Standard Chartered Bank WorldMiles MasterCard.

To find out the best of the best credit cards in Malaysia 2014, click here to my Credit Cards Ultimate Showdown 2014. If your current credit cards are in my Top 10 list, it's time you go start with applying for the Maybankard  2 Cards.



14 comments:

  1. Hi GenX,

    Thank you for your article. However, I would like to point out that the Citibank Platinum cards offer unlimited access not only to KLIA and LCCT Plaza Premium Lounges, but also to Langkawi International Airport and Sultan Ismail International Airport Johor PPL too, as does the PremierMiles.

    As such, the only difference between the PremierMiles and the Platinum cards with respect to lounge access is that the PremierMiles grants 2 entries to international airport lounges via the PP card.

    Thank you and regards.

    ReplyDelete
    Replies
    1. Explorer II, you are right :) It is stated in the Plat webpage under NEW Travel Privileges. But when I did this article I referred to the Compare Card and it only mentioned KLIA and LCCT PPL for the Plat. Thanks for the info.

      Delete
  2. As the time goes, and read a lot of your credit card articles, I will start wondering - Who are you? What makes the bank provide you such a good benefit or services? Yet, you can afford so many cards.

    I guess, you must be some "VIP", somehow. :)

    Thanks for the post which do enrich my knowledge in credits card. I do own the Maybank 2 Cards AMEX. Its really boost up my spending power, on weekend! LOL~

    ReplyDelete
  3. nomoo89, how come you not shown as "Follower" in my Followers' list??

    I will give you benefit of the doubt and allow your comments to be posted here.

    Firstly, thank you for reading my credit card articles.

    Secondly, besides me being crazy, the reason I got so many credit cards is because prior to 2012, anyone can apply credit card based on their existing card until BNM put a stop to it. Also I guess is because I have good credit history and use to work damn freaking hard to make sure I have no debts. And I guess you don't read my other blog Ringgit Wise Fool where I did mentioned a little bit about myself.

    Having said that, wait till you read my next post, I have a message for you guys about reading articles online :)

    And what you mean boost up your spending power? One's disposable income determines one's spending power and got nothing to do with credit cards.

    ReplyDelete
    Replies
    1. Well, your blog is in my follow list. Nvm, I guess I am now your follower, based on my view here.
      What I means I boost up my spending power, is that I might be more "spendy" because of the treat point and the cash back. But definitely, it is still within my capability so that I will not have any debts left over for the next month.

      Great that you will have new post soon. Waiting "impatiently" here. :)

      Delete
  4. On Travel Delay insurances. If your flight was delayed, yes, you get to claim. But if your flight was canceled and airline put you on much later flight, no, you can't claim anything. Been there. Done that.

    AFAIK, the only card with free Travel Delay insurance that covers BOTH delay and cancellation is the Standard Chartered free Visa Infinite credit card for Priority customer.

    ReplyDelete
  5. Kong, thanks for your comments. Really appreciate it. but if you want to comments in the future, please sign up as a "Follower"

    Note: how come you guys can miss my notices on requirement to be a "Follower" to comment? You guys using what to gadget or browser or reader to read my articles?

    ReplyDelete
  6. GenX, it is really a joke. Upgrading the benefits from 12 complimentary visits per annum to unlimited access, then within a period of months, withdrawing the benefits altogether as far as LCCT is concerned @@

    ReplyDelete
    Replies
    1. Lim Wei Hong, I guess many people applied for the Citibank PM and Plat just for access to LCCT PPL and Citibank losing lots of money. Therefore they had to take immediate actions to control the damage, hahaha.

      Delete
    2. Yea.. I guess the PM and Plat have lower requirements among premier cards offering PPL access benefits.

      Delete
  7. GenX, hope you don't mind sharing where you get the info on the withdrawal of the free access to LCCT PPL. I can't seem to find more info on this.

    Thank you :)

    ReplyDelete
    Replies
    1. LWH, I was informed by LCCT PPL Personnel when I dropped by there last month. You can verify it with Citibank by email too.

      Delete
    2. I see. Thank you very much for sharing :)

      Delete

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