The Citi Prestige Card – Reopened For New Applicants
Major changes have been applied to one of Citi Bank’s most premium credit cards. The Citi Prestige Card is now open for applications that include a new cardholder sign up bonus. This is a premium credit card with a premium credit card annual fee ($495 per year). There are many big benefits with this card. Highlights include:
- 5x Points on Airfare and Restaurants
- 3x Points on Cruises and Hotels
- 2x Points on Entertainment through 8/31/19
- 1x Points on all other purchases with your card
- Annual $250 Travel Credit
- Cell Phone Protection Coming in May 2019
- Further updates coming in September 2019
- 17.99% – 25.99% variable APR
- 50,000 Thank You Point Offer For New Cardholders
- Zero Foreign Transaction Fees
- 4th Night Free For Hotel Bookings (More on this below)
This long list of benefits are only the highlights. Needless to say, there are substantial benefits that come with this credit card. This card will not appeal to all consumers due to the high annual fee. However, consumers who are able to take advantage of the benefits will find this card to provide them with incredible benefits.
Who Benefits From The Citi Prestige Card
As mentioned above, this card is not going to be for everyone. The Citi Prestige Card is a premium travel credit card. Another benefit of this card which will be available in September of 2019 illustrates this point. Cardholders will receive an additional 25% value when redeeming points for airfare.
Another huge benefit of this card is the 4th night free when booking hotels through The Thank You Rewards Program. This benefit is currently not limited but beginning in September 2019, customers will be limited to 2 uses of this perk per year. Even 2 free hotel nights per year will greatly add to the value of this card.
Overall, this card would be recommended to someone who travels at least twice per year. This will allow you to take advantage of the airfare and hotel rewards. When considering a premium credit card like this it is important to weigh the rewards against the annual fee. If you can exceed the cost of the annual fee with the value of the benefits than a card is going to be worth the cost.
Looking For A Lower Fee Reward Card? Here Are Some Top Picks!
- Chase Freedom Unlimited – Cash Rewards
- American Express Magnet Card
- IHG Reward Credit Cards
- JetBlue Credit Card
- Best Cash Reward Credit Cards
Citi Prestige New Cardholder Sign Up Bonus
Sign up bonuses are less relevant with premium credit cards. This is because you will be paying a hefty annual fee. Consumers should look at the benefits rather than the sign up bonus to see if the card is worth a spot in their wallet. With this said, The Prestige Card offers a substantial new cardholder sign up bonus.
When opening a new account consumers can earn 50,000 Thank You Points. In order to be credited with these points cardholders will need to spent $4,000 on their account within the first 90 days. After completing this spending requirement your points will be credited to your Thank You Rewards Account.
The $4,000 in required spending is a pretty average amount of spending for a premium credit card. Consumers should make sure they are ready to charge their card with the necessary amount in order to receive the bonus. One easy tip to make this a breeze is to time your card when you know you have a big purchase to make.
Upcoming Benefit and Reward Changes For 2019
There will be two rounds of updates for The Prestige Card in 2019. The first will happen on May 1st, 2019. Beginning in May customers who pay their cellular bill with their card will automatically receive Cell Phone Protection and Insurance. This is a huge benefit that is not offered with many credit cards. Given the extreme price of smart phones this alone will provide big value for cardholders. Protection will include both damages and theft circumstances.
One September 1st, 2019 further updates will be unrolled. Currently, cardholders can receive complimentary 4th night stays at an unlimited basis when booking through Thank You Rewards. Beginning in September this benefit will be reduced to 2 complimentary nights per year. Entertainment reward benefits will be reduced from 2x points to 1x points.
One very beneficial change will also occur in September. Cardholders who purchase airfare travel through Thank Your Rewards will receive an automatic 25% increase in value. This will provide a big increase in the reward redemption rates for travel with your reward points.
Additional Travel Benefits With The Citi Prestige Card
This card provides additional travel benefits than what we have mentioned so far. In addition to the above, cardholders will also enjoy:
- TSA Pre-Check/Global Entry Credit every 4 years
- Access to Citi Prestige Concierge services 24/7
- No Cost Priority Pass Select Lounge membership
- Access To Over 2,000 Golf Courses Worldwide
- Citi Private Pass Access
These additional perks do not necessarily provide direct value to cardholders in terms of savings (with the exception of TSA/Global Entry) but offer big time perks. These perks will provide travelers with luxurious amenities and features when traveling throughout the world.
Redeeming Thank You Reward Points
Reward points are credited as Thank You Points. These are extremely flexible in terms of options for what they can be redeemed for. Options for points include statement credits, cash back and gift cards from major retailers. Customers will also have the option to make charitable donations with their points.
The best redemption value will come when redeeming for Travel. The 25% bonus for travel will begin in May. Thank You Rewards also provides great deals and offers only available through the rewards program.
Final Thoughts On The Citi Prestige Card
This credit card will not be everyone but for frequent travelers this card will provide some major benefits. When considering this card it is important to determine whether or not you will be able to take advantage of the offerings. The $250 travel credit will cover more than half of the annual fee each year. Additional benefits offered by the card very well may make this a great value for select individuals. Are you a Citi Prestige Cardholder? Let us know what you think about this card in the comments below.