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Citi ThankYou Premier Card Review – Does it Boost Your Points?


When you see the number of credit card applications arrive in the mail each day, it’s hard to differentiate what makes one card better than the other. Truthfully, many credit card companies offer a wide range of perks and benefits – many times so similar – that it can be hard to determine which card is even worth the annual fee or usage. The Citi ThankYou Premier Card is one such card; however, the sign up bonus and additional rewards points put it a step above quite a few credit cards out there currently.

Many consumers are attracted to credit card offers based on the big print – but it’s the details you need to watch for. Take for example the 50,000 bonus points offered through the Citi ThankYou Premier Card. The application states you can earn 50,000 points, which are redeemable for $625 in airfare or $500 in gift cards. Sounds great, right? We would all love to be eligible for gift cards and airfare by signing up for a card. However, the fine print states that 20,000 points are earned when you have $2,000 worth of purchases in the first three months of the account’s initial opening, and then you can earn the remaining 30,000 points by spending $3,000 in the first three months of the second year you have the card. So – you need to be a cardholder for at least two years to accrue those points, and spend $5,000 to get them.

Another thing to consider about the Citi ThankYou Premiere Card is the annual membership fee. Like most credit cards, the first year is waived – after that, the annual membership fee jumps up to $125. Compared to some cards, it’s a substantial fee and in order to redeem your 50,000 miles you need to spend $5,000 within a six-month period. If that is something you do and you can expect some rewards back, paying the annual membership fee shouldn’t be that much of a problem.

Despite the small print, there are some great things offered through the Citi ThankYou Premier Card you can definitely make use of, such as the reward points. Unlike other cards that just offer 2 points for every $1 spent, the Citi ThankYou Premier Card offers 3 ThankYou Points for every $1 when you spend them on dining and entertainment. If you like to purchase tickets to live concerts, sporting events, movie theatres or amusement parks, you will see your reward points add up quickly! Purchases involving travel earn you 2 points for every $1 spent – so purchasing airline tickets, hotel accommodations or even booking a vacation through a travel agency can put some points in your pocket for later use. Finally, on all other purchases, 1 point is earned for every dollar you spend – so while most of us look at paying for groceries, taking the dog to the groomers or filling up on gas to be a chore, we can be a bit more satisfied that at least we are earning points for travel or entertainment later on.

In today’s world, carrying around a credit card should be more about freedom to use the benefits and rewards how they best fit in your life. The Citi ThankYou Premier Card does just that by giving you a wide range of options for redeeming your points. You can apply the points to receive gift cards, quality merchandise, entertainment access and even payments toward student loans and mortgages. Those last two rewards alone are ideal for young adults looking to be rid of student debt or interested in purchasing their first home.

Gone are the days that a credit card is just an extension of a bank account that you need to pay back each month. Credit cards are now offering a range of services and coverage when it comes to making purchases.

Options provided through the Citi ThankYou Premier Card include:

  • Auto rental insurance – The Citi ThankYou Premier Card acts as coverage when you have a rental car transaction
  • Choose a Payment Due Date – This alone is probably something people don’t realize is a big deal, but it is! We all have mortgage, rent and car payments to worry about – if we need to use a credit card, we shouldn’t have to worry about fulfilling our obligation to pay. Choosing your payment due date to fall at the beginning, middle or even the end of the month offers freedom from stress or worry.
  • Lost luggage coverage – If you charge airfare to your Citi ThankYou Premier Card, you can obtain coverage up to $3,000 for you and those traveling with you. The coverage covers baggage that is damaged, stolen or even lost.
  • Account access online – Technology today is about having access to your account information 24/7 from mobile phones, tablets and computers. Make payments, check out the balance or even keep an eye on transactions through the On the Go features.
  • Additional Cards – One easy way to boost the amount of points you earn in a year is by adding a second, authorized Citi ThankYou Premier Card user. If you’re looking for cards that offer amazing deals and rewards, twice the spending power can rack up points at an exceptional speed. On the downside, high balances equal higher monthly payments for the family.

A lower APR on the Citi ThankYou Premier Card is worth having if you qualify for it. Standard rates start at 12.99% and go up to 17.99% or 22.99% depending on a credit rating. If you can qualify for the lower APR, the spending requirements are more in your favor – just be aware that a penalty APR is 29.99% with is a standard rate and can add quite a bit to a monthly balance. If you’re interested in other fees for the credit card, always read the fine print – there you will find out the APR for cash advances, balance transfers and foreign purchases.

The Citi ThankYou Premier Card might seem more expensive to have when you compare it to other cards, but the perks and reward earning might balance it out for you in the end.

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