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Citi Premier Card is a mid-tier travel rewards card issued by Citibank that offers a generous sign-up bonus. This card also outearns many competitors in points on travel rewards points with a reasonable annual fee of $95. The points can be redeemed through the Citibank Thankyou Network that allows for the combining of points. The points can be used for things other than traveling, such as merchandise and gift cards.
Citi Premier Card
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Here’s a summary of the main pros & cons (click to see explanation or scroll down):
Citi Premier Card – Benefits
Let’s take a look at the benefits of the Citi Premier and see if it’s the right one for your wallet or not.
You can get 50,000 Thank You points after spending $4,000 in the first 3 months of opening the card.
This equals about $625 in travel rewards when booking is done through Citi. This is one of the larger sign-up bonuses in the market.
3X points for every dollar spent on travel & gas, 2X on eating out and entertainment and 1X on all other purchases.
Citi Premier Card has no limits on points earned. The points also do not expire.
Citi Premier Card has no transaction fees while traveling in another country. Many other rewards cards and regular credit cards have fees when you make purchases outside of the United States.
Citi Premier Card will waive the annual fee for the first year of having the card. Then the fee is $95 a year.
With the Citi Premier Card, you earn Thankyou Points and those points can be used for more than just travel. You can use them for things such as merchandise and gift cards.
These point can be earned with other Citi products as well, such as checking accounts, etc. The points are very flexible in their use.
You can transfer points with participating airline customer loyalty programs to earn even more points and reduce the cost of air travel. Citibank allow cardholders to get exclusive access to concert tickets and sporting events before they are released to the general public.
You may even be able to get VIP passes. Also, Concierge Service is offered to Citi Premier cardholders. It can help book hotels and airline services. They are available 24/7 to help cardholders.
Register a purchase that you made with the Citi Premier Card and if they find a price lower than what you paid within 60 days, they will refund you the difference. You can get refunded up to $1,200 in a year. In terms of protection, Citi Premier Card has zero liability, purchase protection, chip-enabled security and an extension on manufacturers’ warranty.
It also has travel insurance that covers cancelled or delayed flights and baggage delay insurance. These features help give you peace of mind while traveling at home and abroad. Lastly, the Citi Premier Card will also update you monthly with what your credit score is. You can check this by signing into your online account. This is offered through Credit Journey and is based on your Transunion credit report.
Citi Premier Card – Drawbacks
Here are the most important cons you should consider before apply to Citi Premier:
Citi Premier Card does not require new cardholders to pay their annual fee for the first year, but beginning the second year there is a $95 annual fee. Many other credit cards do not have annual fees.
This card does not offer any introductory rate like many other credit cards do. This means if you are looking to transfer balances to a lower rate you will have to consider other cards.
There is a possibility of not qualifying for the sign-up bonus if you opened up another Citibank card in the past 24 months that had a large sign-up bonus.
The APR for the Citi Premier Card is a 16.74%-25.74% variable rate, which is high for a card that requires borrowers with excellent credit histories.
Citi Premier Card point transfer partners where you can earn more points, is limited. They miss some of the bigger and popular airlines in the US market, including Delta, Southwest, and United Airlines.
Many travel rewards cards have more complicated reward structures, but the Citi Premier Card is even more than the average. There are so many spending categories and so many different ways to use your points, it is hard to determine what the best value is when using the points.
Alternatives to Citi Premier Credit Card
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Citi Premier card:
The Chase Sapphire Preferred Card is a travel rewards card issued by Chase Bank. It also has a $95 annual fee and a similar sign-up bonus of 50,000 points. The card earns 2X points for every dollar spent on travel and restaurants.
The Chase Sapphire Preferred also earns 1X points on all other purchases. Points can go further when travel is booked through Chase. It does not have foreign fee and it does not have a 0.00% introductory rate.
The Bank of America Travel Rewards card earns 1.5% on every purchase. The Citi card does get more bonuses on speciality purchases, but does not come with an introductory 0.00% APR and comes with an annual fee.
The Bank of America Travel Rewards has an introductory rate and no annual fee. It does have a small bonus of 25,000 points but you only have to spend $1,000 to get it.
Is the Citi Premier card Right for You?
Citi Premier Card is one of the best travel rewards cards. If you spend much of your time traveling and eating out, this is an excellent card offering some of the best travel rewards in the market. The Citi card also offers great points on gas purchases. Many travel rewards cards do not include gas. Citi Premier Card offers a very large sign-up bonus. If you are looking for introductory APR, cash back, no annual fee, or points for merchandise, you should consider a different card. One of the biggest benefits to any Citibank card is the Citi Price Rewind that should be used to the maximum benefit. It is almost like a cashback card too, with the Citi Price Rewind. Citi Premier Card is primarily for consumers who want to maximize their travel rewards on everyday purchases.