Citi ThankYou Premier Credit Card Review

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From Seek Capital - Best for Balance Transfer

Welcome Offer

Earn 50,000 Bonus Points

Earn 50,000 Bonus Points after you use your new Card to make $4,000 on purchases in your first 3 Months

Earn

3xPoints
Earn 3 ThankYou Points per dollar spent on travel including Gas Stations
2xPoints
Earn 2 ThankYou Points per dollar spent when dining out and on entertainment
1xPoints
Earn 1 ThankYou Point per dollar spent on all other purchases
$0Foreign Transaction Fee
No foreign transaction fees when using this card

Citi ThankYou Premier

Launched with travel in mind, the Citi ThankYou Premier card is jam-packed with savings opportunities for those eager to reap the benefits of normal spending. With a limited-time offer that guarantees 60,000 bonus points in the first three months for those who spend at least $4,000 and points that accrue on travel costs, dining out and all other expenses, you'll be able to take advantage of amazing rewards simply for swiping your card everywhere MasterCard is accepted.

Rewards Highlights

  • No Foreign Transaction Fees
  • No Introductory Annual Fee
  • 3x ThankYou Points from Travel Expenses
  • 2x ThankYou Points from Dining Out
  • 1x ThankYou Points from Everything Else

Expert Review

The Pros

  • No Foreign Transaction Fees
  • No Introductory Annual Fee
  • 3x ThankYou Points from Travel Expenses
  • 2x ThankYou Points from Dining Out
  • 1x ThankYou Points from Everything Else

The Cons

  • Strict Approval Requirements

Recommended Credit Profile

Rates & Fees

  • Annual Fee$95
  • Intro Annual Membership Fee$0
  • Regular APR16.49% to 25.49%
  • Great ForTravelRestaurantsShopping
  • Regular Purchase APR16.49% to 25.49%
  • Regular Balance Transfer APR16.49% to 25.49%
  • Cash Advance APR27.24%
  • Balance Transfer Fee$5 or 3%
  • Cash Advance Fee$10 or 5%
  • Foreign Transaction Fee0%

Amazing Sign Up Bonuses for a Limited Time

Membership in the Citi family starts off on the right foot with the current introductory bonus offer: 60,000 in points if you make $4,000 in purchases in the first three months. That $4,000 is a little high when compared to most credit card sign up promotions, but 60,000 is the equivalent of $600, dwarfing other intro offers and providing some of the best cash back in the business. And if $600 isn't enough for you, you can actually stretch your 60,000 points even further with qualified travel bookings through the ThankYou Travel Center. With a value of $750 in airfare on any airline with no blackout dates, you can use your points for one or more round trip tickets on your next dream vacation.

Citi has advertised this promotion as a limited time event, but has not specified a particular end date. These bonus points are only available for those who have not opened or closed another Citi card in the past 24 months.

Rewards on Everyday Spending

Sixty thousand in bonus points just for signing up is a great offer, but there are plenty of other ways to earn points. Like many cards, the Citi ThankYou Premier card embraces a points system that rewards spending in a variety of categories.

  • Three times the points on every dollar spent on travel-related ventures, including gas stations, hotels, plane tickets, cruises, car rentals, railways, public transportation, tolls, taxis and parking.
  • Two times the points on every dollar spent on dining out and entertainment, including restaurants, cafes, bars, lounges, live entertainment, concerts, live sporting events, movie theaters and amusement parks
  • One point per dollar spent on all other purchases at all times

Whether you shop a lot or a little, there are plenty of ways to earn rewards on the spending you do normally. For example, say you spend $1,500 a month on average: $200 on travel, $300 on entertainment and dining out and $1,000 on everything else. This adds up to a total of 2,200 points per month or 26,400 per year for an average redemption value of $264. When added to your 60,000 bonus points, this means that you could earn $864 in bonuses, just for your first year of use.

However, if you spend more, you earn more. There are no caps on any category of spending, so your final reward balances are up to you. If you're a big traveler and spend an average of $500 a month on travel, $400 on dining out and $1,100 on all other expenses each month, your average spending translates to 3,400 per month or 40,800 per year.

Better yet, your points never expire, so you can use them when you want, in whatever amount is best for you.

Fast, Easy Points Redemption

Redeeming points is extremely simple with the Citi ThankYou Premier card. Points are accrued with every purchase and added to your total balance every statement, providing easy access to the points balance you have now and the points to be added in the next cycle. Redemption can be handled by phone at 1-800-THANKYOU or at thankyou.com. You can use your points for almost anything, including gift cards, cash back, statement credits, travel rewards, concert tickets and purchases on Amazon.

While points are largely redeemable at a rate of 100 points per dollar, booking travel through the ThankYou Travel Center can stretch your points even further. Rewards on travel are worth 25 percent more; spending 10,000 points on travel will be worth $125 on redemption. This effectively makes travel even cheaper, helping you save even more on hotels and flights.

Other Cardholder Perks to Enjoy

Citi cardholders can earn big bonuses by shopping normally with the ThankYou Premier card, but that's not where the fun ends. Being a Citi member comes with plenty of other perks, including:

  • Citi Private Pass access, providing special access to purchase premier tickets to events, presale tickets and VIP packages
  • EMV chip technology
  • $0 purchase liability for unauthorized charges
  • Compatibility with Apple Pay
  • Citi Concierge, a service that provides access to experts who can help you book travel, shopping and dining
  • 24/7 account access via website and mobile app
  • Flexibility to choose your payment date

Low Fees for Everyday Use

As with many rewards cards, the Citi ThankYou Premier card comes with an annual fee of $95. However, this amount is far less than the rewards you can earn each year — spending just $500 a month on travel expenses or $790 on regular purchases will cover this amount. Currently, the annual fee is waived for the first year, too, allowing 12 full months of fee-free points accumulation.

There are also fees that accompany balance transfers. Users will pay $5 or 3 percent of the balance, whichever is higher. This means if you transfer a balance of $1,000, you'll owe $30 in fees. Further, there is no introductory APR on this card; all regular or transferred balances will be subject to an APR of 16.24 to 25.24 percent.

As a travel-oriented rewards card, the ThankYou Premier card does offer a related perk for users: no foreign transaction fees. You can use your card anywhere in the world without paying for the privilege to do so, saving around 3 percent over other similar card options.

The Bottom Line

Whether you love travel or are just a fan of big rewards, Citi ThankYou Premier has a lot to offer. With a current introductory deal of 60,000 points — worth $600 in cash or $750 in travel reservations — on top of rewards that accrue at a 1x, 2x, or 3x rate based on spending category, the opportunities to earn rewards with this card are virtually unlimited.

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