Mortgage and Insurance

Hi everyone!   I am so mad because I received a letter from Citi as shown in below.

 

We’re writing to let you know about an important change we’re making to your account.  Effective April 1, 2010, and annual fee of $60 is being added.

 

The reason we are making this changes is to maintain the quality of our service amid the rising cost of doing business.  However, because we value you as a customer, we wanted to give you an opportunity to have the annual fee credited back to your account.

 

Here’s how it works.  Each year, we’ll credit the $60 fee back to your account once you have made $2,400 in purchases during that year.  That comes to an average of $200 in spending a month, and amount you can reach by using your card for purchases you already make, like gas, groceries, cell phone plans or your cable bill.

 

As always, you have the right to opt out of this change and close your account.  Please read the Notice of Change in Terms and Right to Opt Out beginning on the back of this letter so you are fully aware of all your account changes.  If you have questions, call 1-866-915-9425

 

 

Has anyone received a letter like this? 

I am not keeping this card.  I am going to close this card by March 31, 2010. 

 

Before I close this card, I want to redeem my rewards.  I have earned reward about $36 at this moment, and I must have minimum of $50 to redeem my reward.  I only have four weeks to earn additional $14, which I must charge on this Citi Driver’s Edge card at about $470 (Gas, Groceries and Drug Stores  with 3% rewards).   :smileymad:   My average charge on this card is $150 ~ $200 (Gas, Groceries and Drug Stores).   I don’t want to waste my hard earned reward amount of $36.

Questions:

If you are in my shoes, what would you do?  

Do you try to charge more to redeem $50?  

Stop using this card and forget $36 reward?