Citi ThankYou Premier Review

citi thankyou premierCiti ThankYou Premier is Citibank’s premium alternative to its ThankYou Preferred Card. While ThankYou Preferred comes with no annual fee, Citi ThankYou Premier charges cardholders a $95 yearly membership fee (waived for the first 12 months). The rewards program also has some significant differences. Citi ThankYou Preferred offers card members two ThankYou points per dollar spent on restaurant and entertainment purchases and one ThankYou point on all other purchases. Citi ThankYou Premier outshines the Preferred card by rewarding members at the following rates

  • 3X ThankYou points for every dollar spent on everyday travel expenses including: gas stations, public transportation, tolls, taxis, and parking
  • 3X ThankYou points for every dollar spent on destination travel expenses including: airfare, hotels, cruises, car rentals, and travel agencies
  • 2X ThankYou points for every dollar spent on dining and entertainment including: restaurants (including takeout), movie tickets, concerts, sporting events, and music downloads
  • 1X ThankYou points on all other purchases

Points are earned on eligible net purchases. Net purchases are the total amount of transactions minus any credits and/or returns. Fees, interest charges, balance transfers, and cash advances are not considered purchases and do not earn points.

Citibank is currently offering new cardholders the opportunity to earn 50,000 Bonus ThankYou points when you apply and are approved for Citi ThankYou Premier. To qualify, you must make at least $3,000 in purchases on the card within the first three months that your account is open. Balance transfers, cash advances, fees, and any credits or returns are not purchases. Note: This offer is not available to anyone who has opened or closed a Citi ThankYou Premier account within the past 18 months.

Once you earn the 50,000 ThankYou bonus points, they can be redeemed for up to $625 in airfare (or $500 in other rewards). Members earn the greatest return (an additional 25%) when redeeming points for travel rewards.

Citi ThankYou Premier does not charge cardholders foreign transaction fees. It comes with EMV chip technology for added security.

Redemption of ThankYou points is easy with Citi ThankYou Premier. Points can be redeemed at the rate of one cent per point for cash back or merchandise and gift cards at various retailers. Cardholders who redeem ThankYou points for travel rewards receive a 25% bonus when booking through the ThankYou Travel Center. Travel rewards include airfare, hotels, cruises, and car rentals. Additionally, points do not expire and there is no limit on the number of points you may earn.

The Points Transfer benefit allows members to transfer points to airline and hotel loyalty programs including Hilton HHonors and Virgin Atlantic Flying Club to get award flights faster or enjoy reward nights. There is no fee for this service and the minimum transfer is only 1,000 points.

The annual percentage rate for Citi ThankYou Premier is 13.99%, 16.99%, 18.99%, 20.99%, or 22.99% (variable tied to the Prime Rate). Your specific APR is determined at the time of approval and is based on your credit score and financial history. This APR applied to both purchases and balance transfers. A balance transfer fee of $5 or 3% of the total amount of the transfer (whichever is greater) is applied to all transfers.

Other benefits include:

  • Travel Accident Insurance
  • Lost Luggage Coverage (up to $3,000)
  • Extended Warranty (adding up to one additional year to the manufacturer’s warranty on purchases)
  • Personal Concierge Service available 24/7
  • Global Car Rental Insurance
  • Trip Cancellation and Interruption Protection (up to $5,000 per year when you use your card to make travel purchase)
  • Travel and Emergency Assistance available 24/7

The Facts

Below we’ve broken down the specifics of Citi ThankYou Premier to help you determine if it’s the right card for you.

The Good:

Significant signup bonus:

Citibank is currently offering new cardholders the opportunity to earn 50,000 Bonus ThankYou points when you apply and are approved for Citi ThankYou Premier. To qualify, you must make at least $3,000 in purchases on the card within the first three months that your account is open. Balance transfers, cash advances, fees, and any credits or returns are not purchases. Note: This offer is not available to anyone who has opened or closed a Citi ThankYou Premier account within the past 18 months.

Easy to earn ThankYou points:

Members earn ThankYou points at the following rates:

  • 3X ThankYou points for every dollar spent on everyday travel expenses including: gas stations, public transportation, tolls, taxis, and parking
  • 3X ThankYou points for every dollar spent on destination travel expenses including: airfare, hotels, cruises, car rentals, and travel agencies
  • 2X ThankYou points for every dollar spent on dining and entertainment including: restaurants (including takeout), movie tickets, concerts, sporting events, and music downloads
  • 1X ThankYou points on all other purchases

ThankYou points do not expire and there is no limit on the number of points you may earn.

Points Transfer feature:

The Points Transfer benefit allows members to transfer points to airline and hotel loyalty programs including Hilton HHonors and Virgin Atlantic Flying Club to get award flights faster or enjoy reward nights. There is no fee for this service and the minimum transfer is only 1,000 points. Until recently, the Citi ThankYou Rewards Program did not have one airline transfer partner based in the U.S. but now points can be transferred to Virgin America – great news for domestic frequent fliers.

Citibank benefits:

Citi ThankYou Premier members enjoy a variety of additional benefits including:

  • Travel Accident Insurance
  • Lost Luggage Coverage (up to $3,000)
  • Extended Warranty (adding up to one additional year to the manufacturer’s warranty on purchases)
  • Personal Concierge Service available 24/7
  • Global Car Rental Insurance
  • Trip Cancellation and Interruption Protection (up to $5,000 per year when you use your card to make travel purchase)
  • Travel and Emergency Assistance available 24/7

The Bad:

High APRs and other fees:

The Annual Percentage Rate on purchases made with Citi ThankYou Premier varies between 13.99% and 22.99% and is determined by your creditworthiness at the time of approval. The APR for Cash Advances is 25.24% (variable based Prime). Late payment fees and returned payment fees can be charged up to $35 each. One late or returned payment can cause the penalty APR of 29.99% to be applied to your account.

Annual fee:

This card charges members an annual fee of $95 (waived for the first 12 months).

The Ugly:

Excellent credit score required:

Not every applicant will be approved for Citi ThankYou Premier. Generally, a credit score of 750+ is needed to qualify.