New Federal Reserve regulations take effect October 1 limiting the fees that banks charge retailers for processing debit card transactions. As a result, Citibank has decided to discontinue the AAdvantage debit card:
After December 9, 2011, Citibank will no longer offer the Citibank AAdvantage debit card rewards program. Here are some other important things you need to know:
• You will retain the American Airlines AAdvantage miles you’ve already earned, provided that once every 18 months you: (i) redeem AAdvantage miles; (ii) earn them on Amerian Airlines, American Eagle, or the AmericanConnection carrier; or (iii) earn AAdvantage miles with an AAdvantage participant.
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