Our partner Citi has relaunched the Citi Prestige® Card, their premium ThankYou point rewards card. The sign-up bonus is now 40,000 bonus points after $4,000 in purchases made with your card in the first 3 months the account is open. Here are the updated highlights:
- $250 Air Travel Credit each year
- Receive a statement credit, up to $100 every 5 years, as reimbursement for your application fee for Global Entry or TSA Pre ?®
- Complimentary 4th Night for any hotel stay at hotels booked through Citi Prestige® Concierge
- Earn 40,000 bonus points after $4,000 in purchases made with your card in the first 3 months the account is open.
- Points are redeemable for a $532 flight on any airline or $400 in gift cards.
- Transfer points to a variety of travel loyalty programs from airlines to hotels.
- Earn 3x points on Air Travel and Hotels
- Earn 2x points on Dining at Restaurants and Entertainment
- 1 ThankYou® Point per $1 spent on other purchases
- No Foreign Transaction Fees on Purchases.
- $450 annual fee, not waived the first year.
What’s different than before? While many features remain, there are a few notable changes from the previous offer.
- The sign-up bonus was previously 50,000 bonus points after $3,000 in purchases.
- Citi and American Airlines connection appears to be going away over time. For example, the application does not mention the previous ability to redeem at 1 ThankYou point = 1.6 cents in American Airlines airfare. There is now only the claim that you can redeem 1 ThankYou point = 1.33 cents in airfare from any airline. Thus, 40k ThankYou points are redeemable for a $532 flight on any airline or $400 in gift cards.
- Existing Citi Prestige cardholders have been told that the ability to obtain complimentary access to American Airlines Admirals Club lounges will be ending July 23, 2017. Free access to the Priority Pass Select program and its affiliated airport lounges will remain.
What’s the same as before?
- $250 Statement Credit for Air Travel each year. Unlike other cards, airfare counts as well as baggage fees, lounge access, and other incidental purchases. This renews every calendar year, so it can be used to help offset the annual fee every year. Specifically, “This statement credit is an annual benefit available for purchases appearing on your billing statements from December through the following December. Pending transactions that do not post in your December billing cycle will count towards the next year’s Air Travel Credit.”
- Citi ThankYou points also transfer directly to certain airline mileage programs on a 1:1 basis including Cathay Pacific, EVA Air, Etihad, Flying Blue by Air France and KLM, Singapore Airlines, and Thai Airways.
- $100 Global Entry application fee credit details. Citi will cover the $100 application fee on a one-time basis when you charge it to the card. Global Entry allows you to get through international customs faster when entering the US. Global Entry includes TSA PreCheck as well. The $100 application fee credit will reset once every 5 years.
My personal bottom line. As an existing cardholder, there is no doubt the card has lost some important features. I’ve gotten my $100 Global Entry credit and $250 annual airfare credits without issue. But my most often-used feature, the Admiral Club lounge access will last until July 2017 but will disappear after that. Unless the annual fee drops significantly, that single change will probably make it not worth paying for another annual fee.
Overall bottom line: This card still offers a pretty good package during the first year of cardownership. Assuming you fly enough on any airline to make the airfare purchases, you can redeem the $250 annual airfare credit in both later 2016 and again in early 2017, for a total of $500 statement credit. (The $250 annual credit resets every December billing statement.) Then you have the $532 in airfare redemption value from the 40,000 ThankYou points, good on any airline. That’s $1,032 of flexible value, minus the annual fee of $450, for $582 minimum net value in the first year. Then you add in whatever value you place on the other perks like $100 Global Entry fee reimbursement, 3/2/1 rewards tiers, and the 4th night free benefit.
In addition, if you have a big stash of Citi ThankYou points, getting this card could increase the value of your existing point balance due to the special 1.33 cents per ThankYou point conversion rate towards airfare.
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