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We are focused here on the rewards and benefits that come with each card. These cards are not worth it if you are paying interest or late fees. If you’re using a credit card, it’s important to pay your balance in full each month, pay on time, and only spend what you can afford.
When it comes to luxury travel credit cards, the Citi Prestige® Card
is the main travel card option from Citi and the Citi ThankYou Rewards Program
While the Citi ThankYou Rewards program could be just as well known as the Chase Ultimate Rewards Program or even American Express Membership Rewards, there are many reasons why the Citi Prestige® credit card can put you ahead of the curve in the long run if you travel multiple times a year.
The Citi Prestige has a (slightly) lower annual fee than some competing travel cards, including the Chase Sapphire Reserve®The Citi Prestige also has some of the most lucrative earning categories for individuals who spend a lot of money on food and travel every month, and you get top-notch travel benefits such as access to the airport lounge, a credit for Global Entry or TSA PreCheck, and up to an annual travel credit of $ 250.
The Citi Prestige® Card also offers a 4th night free hotel benefit, which allows you to enjoy a free fourth night on hotel stays booked through Citi. You can only use this benefit twice a year, but if you have hotel expenses in mind, this benefit is a great way to save on your stay – depending on the nightly rate of your stay, this benefit could be the $ 495 off the card single-handedly recoup annual contribution.
Currently, the card offers a welcome bonus of 50,000 Citi points after you spend $ 4,000 in the first three months of opening the account. You can redeem points in many different ways, such as for gift cards, statement credits, merchandise or payments for your student loans or a mortgage. You can also use your points to book travel directly through Citi’s travel portal, or you can transfer them to Citi’s airline partners.
The bottom line: The Citi Prestige® Card offers an intriguing earning structure and the key benefits you can expect from a travel credit card. You also get a generous bonus if you sign up and meet a minimum spending requirement, making your first year as a cardholder more than worth the $ 495 investment.
* 10x points on Lyft rides with the Chase Sapphire Reserve through March 2022.
** Beginning January 1, 2021, earn 5X points on a maximum of $ 500,000 for these purchases per calendar year. (Note: New Platinum Card® cardholders can earn 10x points on eligible purchases at US gas stations and US supermarkets, up to $ 15,000 in combined purchases, during the first 6 months of card membership)
Earn and use Citi rewards
As you can see, the Citi Prestige® card stands out in a number of categories when you compare it to other top travel credit cards.
First, the earning structure on this card is very lucrative thanks to the 5x points you earn at restaurants and air travel and the 3x points you earn at hotels and cruises. Not only that, but the Citi Prestige has a lower annual fee ($ 495) than the Platinum card and Chase Sapphire Reserve
When it comes to rewards, points of the Citi ThankYou program are incredibly easy to useAfter all, you can exchange Citi points for statement credits in your account, or even for a mortgage payment or student loan, all at the rate of 1 cent per point. You can also redeem your points for merchandise, or you can “pay with points” with your rewards at select retailers.
In terms of travel, you can redeem your Citi points for travel through the Citi portal, or you can transfer your points to Citi airline partners such as Air France-KLM, Flying Blue, JetBlue, Emirates and more.
You will want to take the time to compare Chase ultimate rewards and American Express Membership Rewards to the Citi ThankYou ProgramWhen you do, you will find that each of these cards and programs allows you to use points to travel, but the airline and hotel transfer partners for each differ dramatically.
Another detail to keep in mind is how many points you are worth when redeeming for travel on one of these programs. Recent valuations of The Points Guy estimate that Citi ThankYou points are worth 1.7 cents each, while Chase Ultimate Rewards points and Amex Membership Rewards points are each worth 2 cents, but these ratings are for when you move points to airline transfer partners and hotels.
From there, the value of points can vary a lot. With the Chase Sapphire ReserveFor example, you get 50% more value for your points when you redeem them for travel through Chase, while the Citi Prestige® Card and the Platinum card do not offer a comparable benefit.
Furthermore, the Citi Prestige and the Chase Sapphire Reserve usually give you 1 cent per point in value for non-travel options, but you may only get 0.6 cents or 0.7 cents per point in value when you redeem Membership Rewards points for options such as merchandise with “pay with points” or statement credits to your account.
Like other leading travel credit cards, the Citi Prestige® Card offers many benefits in return for the high annual fee.
$ 250 annual travel credit
This credit automatically applies to all eligible travel purchases you make with your card, including airline and hotel purchases, car rentals, parking, tolls and more. If you spend a minimum of $ 250 on travel each year, this credit can effectively subtract $ 250 from the card’s annual fee. The Chase Sapphire Reserve offers a similar benefit, but with a higher limit of up to $ 300 in travel credits per year.
4th night free
This is one of the most unique benefits of the Citi Prestige. Receive a free fourth night after a consecutive minimum of four nights stay when you book through ThankYou.com. The fourth night discount is based on the average rate of your stay and excludes taxes and fees. You can only use this benefit twice per calendar year, so it’s best to book it for your most expensive stays.
That said, this benefit alone can get you the $ 495 annual fee (or more) in value if you use it in expensive hotels, so booking a luxury hotel can save you hundreds of dollars. .
Priority Pass Select Membership
The Citi Prestige® Card comes with a free membership to the Priority Pass Select program, giving you access to more than 1,200 airport lounges around the world. This benefit is relatively standard below premium rewards credit cards, although the Amex Platinum stands out by going a few steps further, with Centurion Lounge access and other small lounge networks in addition to Priority Pass membership.
Credit for Global Entry or TSA Precheck Membership
Like several other travel rewards cards, the Citi Prestige also includes one statement credit of up to $ 100 to cover the application fee for Global Entry or TSA PreCheckBoth programs can speed up your airport experience, and it is better to choose Global Entry as it includes TSA PreCheck.
Purchase protection and travel coverage
Citi used to offer a more comprehensive package of insurance benefits such as travel delay protection and car rental, but the company eliminated many of these benefits in 2019. If you’re buying airline tickets, hotel stays and more for an upcoming trip, you better use a card that more comprehensive travel coverage, like the Chase Sapphire Reserve
However, the Citi Prestige still offers the following coverage benefits:
Mobile phone protection
Paying your phone bill with the Citi Prestige® Card qualifies you for up to $ 1,000 per claim and $ 1,500 per 12-month period if your eligible phone is stolen or damaged, with a $ 50 deductible. Only offers a handful of credit cards cell phone protection, and this can provide some extra peace of mind while using your phone.
Purchase protection against damage and theft
When you purchase a covered item with your Citi Prestige® card, you can get up to $ 10,000 in coverage (up to $ 50,000 per year) if it is damaged or stolen within 90 days of purchase.
When you pay for an item with the Citi Prestige® Card, Citi extends the manufacturer’s warranty for an additional 24 months, up to a maximum of seven years.
Citi Prestige Fees and Fees
While the Citi Prestige® card has a pricey annual fee of $ 495 and an annual fee of $ 75 for authorized users, you don’t pay foreign transaction costs
When you transfer a balance, a 3% balance transfer fee (minimum $ 5) will apply and you will pay a 5% (minimum $ 10) deposit if you use your credit card to take out a cash advance.
A variable APR of 16.99% to 23.99%, based on your credit rating. applies to purchases.
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