Citi Premier Credit Card Review
Citibank offers three different cards (Preferred, Premier, and Prestige) in their ThankYou points family. ThankYou points are a part of Citi’s transferable points program which offers a few different airline and hotel transfer partners. The Citi Premier is the program’s mid tier card and comes with a rewarding earning structure. In our Citi Premier credit card review we will go over the current welcome offer, the card’s earning structure and the perks it offers. We will also discuss the fees that come with the card and whether it is worth getting and keeping long term.
Current Welcome Offer Vs The Historical High
The largest welcome offer for the Citi ThankYou Premier has been 65,000 points in branch from time to time. If you don’t live in an area with a branch then the current 60,000 point offer is about as good as it gets.
- Earn 80,000 bonus points after making $4,000 in purchases with your card within the first 3 months of account opening.
- $95 annual fee is NOT waived
Citi Premier Credit Card Review – Welcome Offer Restrictions
Citi has the following bonus restrictions for their ThankYou cards:
- Bonus ThankYou Points are not available if you have had a ThankYou Preferred, ThankYou Premier, or Citi Prestige card welcome offer or closed one of these cards in the past 24 months.
- It is unclear whether or not product changes reset the 24 month clock. It is believed that if your card number stays the same, after the product change, the clock will not be reset.
- Currently holding a version of a ThankYou card, even a Citi Premier card, does not disqualify you from the offer. As long as it has been 24 months since receiving the offer you are good.
Citi ThankYou Premier Earning Structure
The Citi Premier earns points at the following rates:
- 3X ThankYou points at
- Grocery stores
- Gas stations
- 1X ThankYou points on all other purchases
Citi Premier Cardmember Perks
The ThankYou Premier card comes with a few perks of membership, they are as follows:
- Enjoy $100 off a single hotel stay of $500 or more, excluding taxes and fees, when booked through thankyou.com or 1-800-THANKYOU. This benefit will be available to you once per calendar year.
- The Premier comes with the ability to transfer ThankYou points to partner airlines and hotels.
- No foreign transaction fees.
- You gain access to Citi Private Pass.
- You can redeem points at 1 cent per piece towards gift cards. But you can do better with Shop Your Way Rewards.
The Citi Premier has a $95 annual fee which is not waived the first year.
Sign Up Bonus Value – $655
Citi ThankYou points are valued at around 1.25 cents a piece. That puts the value of 60,000 points at $750. When you subtract out the $95 annual fee you are left with a net value of $655. This does not put a value on the $100 hotel discount each year either.
The Citi ThankYou Premier card comes with a pretty nice welcome offer and an earning structure that surpasses Citi’s more expensive/premium Prestige card. The earning structure lines up well with a lot of people’s biggest areas of cost, gas & groceries. Adding grocery earlier in 2020 was a good move on Citi’s part. Losing the ability to redeem ThankYou points through the travel portal at 1.25 cents was a big loss too though.
Citi still falls behind American Express and Chase in terms of transfer partners. Turkish Airlines can offer some large value, if you are willing to jump through the hoops. Not many partners are unique to Citi outside of that which limits the value some. Shop Your Way rewards is a great alternative to travel though.
Long Term Keep or Cancel?
The Citi Premier will be a long term keeper for many people because of the rewarding earning structure. And while the grocery category does not quite reach the 4X earning level of the Amex Gold it is uncapped (Gold has a $25K per year cap) and the annual fee is $155 a year cheaper. Throw in the fact that the Citi Premier offers bonus earning on gas and certain travel too and it is one of the best all around cards out there.
You can pair the Citi Premier card with the Citi Double Cash card as well. Holding the Premier allows you to turn the Double Cash cashback into ThankYou points. The pairing also means you would be able to earn 2X or 3X on every single purchase you have, that is tough to beat.
Citi Premier Credit Card Review – Final Thoughts
The Citi Premier card offers a compelling earning structure, a valuable welcome offer all at a reasonable annual fee price point. The card allows you to earn bonus points on most of the larger spend categories in your life. It covers groceries, gas, restaurants, air travel and hotels. It becomes even more powerful if you pair it up with the Citi Double Cash.
The area where it is lacking is with the ThankYou points transfer partners. Outside of Turkish Airlines there are not any uniquely valuable partners. Pretty much all other partners are covered by other transferrable currencies as well. Having said that, some people may find it easier to rack up ThankYou points with this card versus Membership Rewards or Ultimate Rewards because of the earning structure.