Citibank Thank you Points - Now a Joke

I really do not know what's going on with Citibank. I really really hate Citibank but I still have no idea why I keep an account with them anymore. I reasoned it was no big deal because I do not actually need to maintain the account so much and closing it really doesn't help me too much... I already have one huge bundle of services (No brokerage account) that has no fees but I would never get a brokerage account. Their Smith Barney thing is a huge money waster of fees (get fidelity or something).

Anyway I was o.k. with the February 2009 changes of Thank You Points listed at the consumerist. It doesn't really apply to me since I do not see how I would be delinquent other than my one credit card which I use rarely. Anyway the recent changes listed on my June Statement was that of Thank You Points Expiration which is 3 years. Seriously there is nothing to buy or redeem with Thank you Points that are worth it except for the 100 dollar gift cards at 10,000 thank you points. It costs 25 dollars to purchase 1000 thank you points. Isn't that freaking ridiculous? Basically it will cost you 2,500 dollars to buy a 100 dollar gift card.

What this means is the rich really does get richer(or at least stay that way) while the middle to lower class will get much less. Actually this will basically squeeze out all the low income from benefiting since a normal citibank bank account with product/services can get you 800 thank you points while for an ezchecking at 300 thank you points you will just barely make it for your reward in 3 years. I am still 15 dollars on my citibank dividend card at 1 percent to cash out at 50 dollars (it's been 2 years now). I am basically saying I will no longer participate in any reward program from citibank since it's too much work unless you use it as your single source of financial instruments. Now that would be ok but Citibank really is worthless. I have to send at least 3 bank mail to get an answer to a question because the first 2 will get generic replies which I already know the answer to till you have to be firm and get someone competent. Let's not even talk about calling because the customer representatives are wrong half the time. The whole point of the bank mail is that the representative takes the time to read and make sure the answer is accurate. THAT IS ABSOLUTELY NOT TRUE.