Citi Converting Dividend Cards to Double Cash in March

Fatwallet member JW10 reports receiving a mailer from Citi that their Citi Dividend card will automatically be converted into a Double Cash card on March 31, 2016. Yup, right before the drugstore category starts.

It’s unclear if they’ll be sending this out to everyone or not; we should know more within a day or two.

  • The new Double Cash card will not earn 5% categories, even if you already enrolled
  • Any unused cashback will carry over the Double Cash card
  • You can continue using the Dividend card until the new card comes
  • The new card will have a new account number (note: credit history should stay the same)

Opting Out

Interestingly, the letter indicates that you can opt out of the product change is you so desire,

If you do not want to be converted to the Double Cash, please contact us at 1-855-473-4583 by no later than 3/30/16. After that time, your account will be automatically converted.

To me this sounds that they are not forcing the conversion, rather it’s the default option so that most people will do the transition. I’ll definitely try to keep my Dividend alive, at least through the drugstore category in April – June.

Interestingly, we recently reported that people were having success product changing to the Dividend card.
    Chuck
  • On February 4, 2016, 22:42

View Comments (27)

  • UPDATE: Anybody who WANTS to convert Dividend Rewards to Double Cash may have that option after logging into your account. It is one of the lower boxed offers for more information making such a conversion.
    Personally, I have chosen NOT to convert. IF and when I change my mind, I would prefer to apply and get the signup bonus and new customer benefits.

  • I have a question, After reading up on the Double cash form Citi, it papers I only get paid the 2% if I spend the same amount each month... is that correct?

    for example: If I spend $5,000 in January I make 1%; but If i make no purchases in February when I pay off the $5,000.00 in full to avoid inserts fees, then I won't get the 2% because I did not purchase anything that month?

    Is this your understanding?

  • Just called in today to convert TY Preferred to Dividend. After a very brief hold to check availability to convert, Citi CSR launched into the script for Dividend card details and confirmed my request to convert. No pushback, no mention of Double Cash.

    Conversion date was quoted as 4/16, so it seems to take 6 weeks, though CSR stated I had another 60 days after that to cancel.

    • Reminder that TYP attached to a closed/converted TY card expire 60 days after conversion.

  • I was invited (via email) to convert my Dividend to a TY Preferred. The invitation offer expires 3/31; nothing forced upon me at all.

  • I have Dividend and Double Cash cards. Does anyone know if that means my Dividend card will disappear? I've had it for a long time and would like to keep it to help with my credit score. Thanks.

    • The phone number found in that Consumerist article failed to connect when called.
      Calling back to Citi a few days later took escalation to a manager who had to do some extra effort and call back, but according to that supervisor, the forced change to Double Cash CAN be refused and I refused. IF Citi keeps it's word, I can keep my Citi Dividends reward card.

  • Hi all,

    I would like to ask a question here. Lots of people took advantage of Citi's retention offer for the dividend card where they have received extra 4% cash back (or total 5%) for next three months as DOC or other bloggers reported. If anyone has received this cash back up to $300 (max limit) for the calendar year 2016, will they be eligible to get any more cash back in any of the rotating category?
    Thank you.

  • I just converted Citi AA plat to Dividend on Feb 1. I will see if I can keep it from being converted to Double Cash.

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