The Citi Prestige® Credit Card is now offering 50,000 bonus ThankYou points after you make $4,000 in purchases within the first 3 months of account opening.
Redeeming towards flights booked through Citi is your best, easy redemption option, where the points are worth 1.25 cents apiece, or $625. After September 2019, points booked through Citi’s travel portal will only be worth 1 cent per point.
If you’re willing to strategize to get more value out of your points, using their transfer partners could get you an average of 1.7 cents per point. Get a value of around $850 for 50,000 ThankYou Points with this method.
The Citi Prestige® Credit Card is in the premium travel credit card category and carries a massive $495 annual fee, which isn’t waived the first year either. Not surprisingly, most people wouldn’t even consider this card, and justifiably so. But this card has its place, and that’s with the frequent traveler who enjoys the premium travel benefits.
*You might also be interested in the Checking bonuses Citibank offers as well.
| Bonus Available | 50,000 bonus points after spending $4,000 within the first 3 months. |
| Bonus Value* | $850 |
| Travel Credit | $250 travel credit every calendar year |
| Ongoing Rewards/Benefits | 5 points per $1 spent on Air Travel and Restaurants. 3 points per $1 spent on Hotels and Cruise Lines. 1 point per $1 spent on all other purchases. Complimentary 4th hotel night after a minimum 4 consecutive night booking through ThankYou.com. |
| Foreign Transaction Fees? | No |
| Airport Lounge Access | Over 1,300 lounges worldwide with a free Priority Pass Select membership. |
| Annual Fee | $495 |
*Bonus value is an estimated value calculated by MoneysMyLife and not the card issuer. Read our card review for more details.
View our latest valuations here.
Getting The 50,000 Bonus Points
You’ll have to spend $4,000 in purchases within the first 3 months of account opening to qualify for the bonus. The bonus will put you in the positive right off the bat for the first year despite the $495 annual fee.
We strongly believe the targeted market for this card should not have any problems meeting that spending requirement for the bonus. However, if for some reason you need some spending options, here are some popular ones:
What’s The Competition?
Most would say the Chase Sapphire Reserve® is one of the best, if not the best, premium credit card options available.
The other big player is The Platinum Card® from American Express. This card earns rewards faster than its competitors on flights booked directly with airlines or with American Express Travel. You’ll also get more lounge access that includes The Centurion, International American Express, Delta Sky Club, and Airspace Lounges networks, as well as the Priority Pass Select membership. However, one big pitfall for international travelers is going to be the lack of American Express acceptance in many locations abroad.
CHASE SAPPHIRE RESERVE®
The Chase Sapphire Reserve® card is offering 50,000 bonus points (worth up to $1,000 in travel per our valuations). You’ll need to spend $4,000 on purchases in the first 3 months from account opening to qualify for the bonus. These 50k points are redeemable for $750 toward travel through Chase Ultimate Rewards.
This is a premium travel card with a premium annual fee of $550. But, you’ll receive premium benefits such as 5X points on air travel, 10x points spent on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after earning your $300 annual travel credit, access to 1,300+ airport lounges with Priority Pass Select, 3X points on all other travel and dining, and 50% more in travel redemption through Chase Ultimate Rewards. For all other purchases, it’s 1 point per dollar spent.
Other nice features include an application fee credit (up to $100) for Global Entry or TSA Pre✓®, and complimentary Lyft Pink and complimentary DashPass subscription from DoorDash. Also, with Pay Yourself BackSM, your points are worth 50% more for existing purchases in select, rotating categories.
You’ll earn Ultimate Rewards points with this card, which can be pooled together with certain other Chase cards. Examples include the Chase Freedom®, Chase Freedom Unlimited®, Chase Sapphire Preferred® Card and all the Chase Ink Business cards. Read more on this here.
THE PLATINUM CARD® FROM AMERICAN EXPRESS
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
The Platinum Card® from American Express has a special offer for 100,000 Membership Rewards points after you spend $6,000 in purchases within your first 6 months.
Membership Rewards® points are some of the most valuable in the market. Redeeming these points by booking travel through American Express or by redeeming for gift cards will give you a standard 1 cent per point value. The 100k bonus points are worth $1,000 going this route.
You can potentially get more value by transferring your points to Membership Rewards travel partners. Using this strategy can get you up to an average value of 2 cents per point. Get around $2,000 in value with 100,000 points this way. Read more on this here.
With this card, earn 10X Membership Rewards Points for eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S. (up to $25,000 in combined purchases) during your first 6 months of Card Membership
5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year.
The biggest drawback to this card is the $695 annual fee (see Rates & Fees, Terms Apply), which puts it in the premium class of credit cards. The card has a market because it offers premium travel benefits, such as 5X points for flights (up to $500,000 on these purchases) and eligible hotels, access to 40+ Centurion Loung and Studio locations worldwide, up to $200 airline fee credit annually, and an annual Walmart+ membership. These benefits are given as statement credits.
For frequent travelers, the added benefits make sense in terms of value and added luxury.
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Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.