Citi Premier Card Review – Should You Consider It?

Citi Premier Card Credit Card Review 2019

Share: Rating: 4.2 stars out of 5

The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.

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

4.2/5
 Citi Premier Credit Card Review 2019

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Our Bottom Line

Maximize Travel Rewards on Everyday Purchases
 
 


Credit Rating Requirements

Good – Excellent Credit

  • Great Sign-Up Bonus

  • Points on Travel , Gas, Restaurants, Entertainment & All Other Purchases

  • $95 Annual Fee

  • No Introductory 0% APR Balance Transfer Fee

Highlights

  • 3X points for every dollar spent on travel & gas
  • 2X points for every dollar spent on eating out and entertainment
  • 1X points for every dollar spent on all other purchases

 

Here’s a summary of the main pros & cons (click to see explanation or scroll down):

ProsCons
50,000 Point Sign-Up Bonus$95 Annual Fee
Points on Travel , Gas, Restaurants, Entertainment & All Other PurchasesNo Introductory 0% APR Balance Transfer Fee
No Limits Exclusion of Sign-Up Bonus
No Foreign Transaction FeeAPR
No Annual Fee for the First YearPoints Transfer Misses Some of the Bigger Airlines
Thank You PointsComplicated Rewards Structure and Redemption
Points Transfer,Citi Private Pass , Concierge Service
Citi Price Rewind, Protection & Free Credit Score

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.

50,000 Point Sign-Up Bonus

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.

Points on Travel , Gas, Restaurants, Entertainment & All Other Purchases

3X points for every dollar spent on travel & gas, 2X on eating out and entertainment and 1X on all other purchases.

No Limits

Citi Premier Card has no limits on points earned. The points also do not expire.

No Foreign Transaction Fee

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.

No Annual Fee for the First Year

Citi Premier Card will waive the annual fee for the first year of having the card. Then the fee is $95 a year.

Thank You Points

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.

Points Transfer,Citi Private Pass , Concierge Service

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.

Citi Price Rewind, Protection & Free Credit Score

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:

$95 Annual Fee

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.

No Introductory 0.00% APR Balance Transfer Fee

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.

Exclusion of Sign-Up Bonus

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.

APR

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.

Points Transfer Misses Some of the Bigger Airlines

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.

Complicated Rewards Structure and Redemption

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:

Chase Sapphire Preferred 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.

Bank of America Travel Rewards Card

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.