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Citi Thank You Premier Card Review

Citi Thank You Premier Card Review

The Citi Thank You Premier credit card is a great rewards card that awards you with points on travel and dining purchases. This is a great card for average spenders to earn travel rewards without having to spend large amounts of money. This review will tell you every thing you need to know about the Citi Thank You Premier Card.

Our Favorite Things About The Citi Thank You Premier Card

  • Earn 40 000 bonus points: You will earn 40 000 bonus points after you spend $3000 in the first 3 months of card opening. The 40 000 bonus points are equate to $500 on airline and travel purchases.
  • Earn up to 3x Thank You Points: This card has a great rewards rate, as you will earn 3x the points per $1 spent on travel and gas purchases, 2x the points per $1 spent on entertainment and dining purchases, which includes restaurants, movies, concerts and more. You will also earn 1 Thank You point per $1 spent on all other purchases.
  • Points do not expire: Your Thank You Points will not expire, allowing you to accumulate as many points as you want before redeeming them. Furthermore, you can earn an unlimited amount of points.
  • Flexible redemption options: You can redeem your points in a wide variety of different things such as gift cards, merchandise, travel, as well as redeeming your points for cash, or a statement credit. Another great feature allows you to combine your points with a friend or family member or any Thank You Points member.
  • Vehicle accident insurance: When you charge the entire cost of a travel charge to your card you and your companions will be covered for Common Carrier Travel Accident Insurance at no charge.
  • Trip cancellation/interruption coverage:When you charge your trip fare to this card you will receive secondary trip cancellation/interruption up to $1500 that isn’t covered by your primary insurer. Furthermore, you will get lost luggage coverage up to $3000 for you and your travelling companions.
  • Citi Price Rewind: A great feature that most Citi credit cards offer is the Price Rewind feature. When you purchase an item with this card, you can submit the purchase info to Citi Price Rewind which tracks the price of the item for the next 60 days. If it finds the item cheaper within 60 days , then you will get a refund for the difference in price.
  • No foreign transaction fees: You will not have to pay a fee when you use this card in a foreign country, or when you use your card to pay for something in a foreign currency.

Things We Don’t Like About The Citi Thank You Premier Card

  • Annual fee: This card has a $95 annual fee, however the fee is waived for the first year.
  • No introductory offer: Unfortunately this card does not offer a 0% introductory offer on purchases and balance transfers, as a variable A.P.R. ranging from 14% to 23% applies immediately. Avoid using this card for balance transfers as you would have to pay interest immediately.
  • Need excellent credit: If you have good credit, it most likely won’t be enough to qualify for this card, as you need to have excellent credit to qualify.
  • Limited hotel and airline partners: When redeeming points for flights and hotels, there isn’t a wide variety of partners to choose from.

Who The Citi Thank You Premier Card Best Suits

  • Those who spend a lot of money on travel and gas.
  • Those who look to redeem their points on travel .

How The Citi Thank You Premier Card Compares To Similar Cards

Chase Sapphire Preferred Credit Card

The Chase Sapphire Preferred card is very similar to the Citi Thank You card. It awards you with 50 000 bonus points after you spend the first $4000 within the first 3 months of card opening. The 50 000 bonus points is $625 in travel when redeemed through Chase Ultimate Rewards. This is $125 more then the $500 worth of travel you would get with the Citi Thank You card. You will also be awarded another 5000 bonus points after you add an additional user to the card who makes a purchases with the card within the first 3 months. Overall these bonuses are higher then the bonuses on the Citi card.

With this card you earn 2x the points per $1 spent on travel and dining, and 1 point per $1 spent on all other purchases, while with the Citi Thank You card, you earn 3x the points on travel and gas purchases and 2x the points on entertainment and dining. This clearly shows the Citi Thank You card offers a better rate on points on travelling purchases, as well as a good rate on entertainment purchases. The Chase Sapphire card matches the Citi Thank You card when it comes to insurance on auto rentals, as well as trip cancellation/interruption. Also, both cards waive the $95 annual fee for the first year you have the card. The Chase Sapphire card has many more frequent travel programs to choose from when you are redeeming your miles, and also allows you to transfer your points at a 1:1 rate, meaning 1000 Chase points is equal to 1000 of the partner miles or points. Overall the cards are similar, with the edge going to the Citi Thank You card as it has a better rate on points.

Amex EveryDay Credit Card From American Express

This rewards credit card awards you with 2x the points on supermarket purchases(up to $6000 per year, then 1%) and 1x the points on all other purchases. This card has a bonus offer that awards you with 10 000 bonus points after you spend $1000 in purchases within the first 3 months of card opening, which isn’t quite as good as the Citi Thank You card’s bonus offer. This card also allows you to redeem your points for a variety of travel items such as flights, hotels and cruises. While the Citi Thank You card does not have an 0% intro offer, this card has a 0% intro A.P.R. on all purchases and balance transfers for the first 15 months, then a variable A.P.R. ranges from 13% to 23%. One downside to this card is it does have a foreign transaction fee. This card requires excellent credit. Overall, the Citi Thank You card seems to offer more value and should be your card of choice over this card, unless you are interested in making a balance transfer as you have a long 0% A.P.R. period.

Bank Americard Travel Rewards Credit Card

The Bank Americard Travel Rewards Credit Card is a rewards credit card that awards a flat rewards rate on all purchases. You will earn 1.5 points per $1 dollar spent on all purchases with no expiration on the points to worry about. You will also receive a 10% customer bonus points on every purchase if you have an active Bank of America checking or savings account. This card also has no foreign transaction fee, and it does not have an annual fee. This card features a bonus offer that will award you with 20 000 bonus points after you spend $1000 on purchases within the first 90 days of card opening. This would be equivalent to a $200 statement credit.

This card offers a 0% A.P.R. introductory offer on all purchases and balance transfers for 12 billing cycles(12 months), after this period a variable A.P.R. ranges from 15% to 24%. You can redeem your points on a variety of travel items, such as flights, hotels, cruises, vacation packages and more. Overall, this card’s biggest advantage over the Citi Thank You card is the 0% intro offer, so if you are interested in a balance transfer this would be the better choice. If you will make a lot of purchases on travel and gas, then the Citi Thank You card would be a better fit, however if you will use the card for a variety of general purchases then this card is a good choice.

Should You, Or Shouldn’t You, Our Final Verdict

This is definitely a high quality card with a very appealing rewards program, especially on travel purchases. If you travel frequently, you will accumulate a lot of points that you can redeem for further travel expenses. The benefits this card offers far outweigh the $95 annual fee, especially if you will use the card often on travel and gas purchases. You can use this card worry free while travelling, as there are no foreign transaction fees, and you get the benefits of trip cancellation/interruption insurance. The only downside this card has is, it doesn’t offer any sort of 0% introductory offer on purchases or balance transfers, so we don’t recommend getting this card if you are interested in a balance transfer or paying off a large purchase over time.

Quite simply, if you know you will use this card often on travel and gas purchases, then you should definitely look into getting this credit card, as it is one of the better rewards cards available.

About The Author

Ben Todd

Ben was a seriously broke graduate student with bad credit who after finding himself rejected for any sort of credit card or loan for most of his adult life, finally decided to get his financial life in order. ‘

He spent several years reading as many financial advice books and blogs as he could.

And suprisingly, Ben found he actually LIKED the topic of personal finance; after fixing his own finances, starting his own successful work at home website business, and using his earnings to get out of debt, created echeck.org to help others do likewise!

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