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Citibank CitiBusiness Thank You Card – Points Worth it?

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The Citibank CitiBusiness Thank You card is a popular thank you or rewards card offered by Citibank. The attractive 15,000 bonus points as well as ‘thank you’ points for other purchases are certainly attractive, but are those points really worth the money you have to spend to get them? We’ll briefly cover the benefits, services, rewards, as well as drawbacks to this card so that you can make an educated, informed decision. We do encourage our readers to carefully study the complete terms and conditions of any credit card offer, and that goes for the CitiBusiness Thank You card as well.

Citibank CitiBusiness Thank You Card – is it worth it?

The Citibank CitiBusiness Thank You card certainly seems attractive when you first look at the card at face value; 15,000 bonus thank you points are awarded to cardholders, as long as $3,000 in purchases is made during the first three months of your card ownership. Those 15,000 bonus thank you points get you $150 in gift cards –still, spending $3,000 for a $150 gift card may not seem like such a great deal to many.

In addition to the initial 15,000 bonus points, cardholders earn three thank you points for every dollar spent on eligible purchases. Eligible purchases using the Citibank CitiBusiness Thank You card are available in rotating categories based on yearly quarters. One thank you point is awarded for every dollar you spend on other purchases. The good thing is you don’t have any expiration date on any of the points you earn, and an anniversary bonus is given for each year of membership. How does this all add up?

Let’s talk a minute about those reward thank you points. We mentioned the 15,000 bonus thank you points to those who spent $3,000 during the first three months of their membership. An additional three thank you points are awarded for every dollar spent on eligible purchases in rotating categories – but what exactly does this get you for your trouble? For example, here’s a breakdown of categories that reward points for certain types of purchases on an annual basis:

  • January through March – professional or advertising services and office supply vendors
  • April through June – computer and software purchases, and telecommunications purchases or services
  • July through September – hotels, car rental services, airline ticket purchases
  • October through December – entertainment and restaurants

If you’re a frequent traveler and are thinking of accruing points for redemptions for any travel related services, you may find yourself dealing with a relatively narrow window to do so. The Citibank CitiBusiness Thank You card, therefore, is better suited to a business owner or self-employed business owner who has regular expenditures in all the categories, and not merely travel, throughout the year.

Card members can earn one thank you point for every dollar spent on additional purchases, and you can also earn bonus points for managing your account online. For example, registering for online services at Citibank earns you 100 points, and you can also receive 100 points for opting for paperless statements.

Let’s Talk about Additional Services

The Citibank CitiBusiness Thank You card also strives to encourage new card memberships by offering a variety of services which include but are not limited to:

  •  Identity theft solutions (Citibank will provide specialists who can help you deal with the ramifications of identity theft)
  • 24 hour a day customer service – including weekends
  • retail purchase protection
  • automatic travel accident insurance
  • auto rental insurance
  • extended warranties on purchases made with your Citibank CitiBusiness Thank You card (coverage is offered up to $10,000 in purchases, but be advised that a variety of restrictions, exclusions and conditions apply).
  • 24 hour concierge service
  • travel assistance services (this service only provides referrals and assistance, and the card holder is liable for costs of cash advances, legal, medical services, or transportation services.)
  •  The above services come with limitations, exclusions and restrictions. Citibank will notify cardholders regarding specific details in relation to coverage of all such services to the card holder upon acceptance and card membership.

A few additional perks are also attached to the Citibank CitiBusiness Thank You card, including quarterly and annual summaries, and the option to obtain employee cards with credit limits that you can determine for each card.

Terms and Conditions

When it comes to credit cards, the Citibank CitiBusiness Thank You card offers an attractive APR for purchases. Your first six months of the account come with a 0.0% APR, and afterward offers a 13.24% variable rate. Cash advances come with a 21.99% variable rate, but if you default, make a late payment, or otherwise fail to adhere to the terms and conditions, your APR will rise to 29.99%, and that percentage may remain attached to the account indefinitely.

The Citibank CitiBusiness Thank You card doesn’t come with any annual fees, but certain transaction fees do apply. Cash advance fees total 3% or a $5 minimum, depending on the amount of your cash advance.  Balance transfers are the same, depending on the balance transfer amount. Late fees range from $15 to $39, depending on your balance. Balances of under $100 charge $15 for late fees, while a balance of $250 or more charges a $39 fee.  If you go over your credit line, you can expect to pay an over the credit line fee of $39. Visit the website for details.

Citibank, and other credit vendors, do state in their terms and conditions that they can change rates, terms and fees at any time they wish, and sometimes, such changes are the result of a less than stellar credit report or reassessment of your credit worthiness.

Bottom Line

While the Citibank CitiBusiness Thank You card appears attractive and certainly seems to offer a variety of rewards and services, the limitations of the quarterly business category rotations may hinder a person’s ability to accrue the desired number of points on an annual basis. If you need a card for everyday purchases for the operation or sustenance of your daily business operations, the card is good, but if you’re using the card to focus on earning rewards for business or personal travel, you may want to pass this one by. The rewards categories for this Citibank CitiBusiness Thank You card are broad, but because only certain purchases qualify for points during certain months, the expenditures, at least in purchasing power, don’t equate with what’s offered, at least for many consumers. You’d have to spend a great deal in one category to make the rewards in this program mean something.

 

 

 

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