ThankYou Preferred 20K Bonus Offer
Earlier today I wrote about my experience getting the NBA Amex card with its 20K ($200) bonus and no annual fee. That card has some amazing benefits like 5X everywhere earnings during specific time periods, but there is another no annual fee 20K bonus that just got better as well.
The Citi ThankYou Preferred has long had one of the better bonuses on a no annual fee card. Typically the bonus is 20K ThankYou points after $1,500 in spending during the first 3 months, however Citi has made it better. Currently the $1,500 spending requirement has been eliminated, meaning you should get 20,000 points after activating the card. (I would probably still use it once just to be safe.)
Here is the exact offer on the Citi ThankYou Preferred credit card:
Earn 20,000 bonus ThankYou® Points after making $0 in purchases within 3 months of account opening
This card earns 2 points per dollar on dining and entertainment and 1 point per dollar on everything else. Not the greatest earning structure, unless you get some sort of retention bonus.
My Amazing Retention Offers
My wife has two ThankYou Preferred credit cards. She received the first after applying for it and the second one came when she converted an AAdvantage Executive card over. Both of these cards have received identical retention offers over this past year. Here is the offer:
3X Everywhere & More!
With this offer we have been earning 3X ThankYou points on all spend and 4X on dining and entertainment for much of the past year. (And have been loving every second of it!) The latest reports are that Citi is now capping similar offers at 35K-50K bonus points, but that is still tremendous. I know people who have even received great offers within months of opening their account.
Now that the spending requirement has been eliminated, this is a very easy card for people to pickup without having to worry about how to spend the $1,500. I think the 20K bonus is amazing for a no annual fee card, but I think the potential down the line for retention offers is almost as exciting. Remember too that those 20K points may be worth 1.25, 1.33 or up to 1.6 cents each for travel depending on which other ThankYou cards you have. (Premier and/or Prestige.)
I think this new spending requirement is noteworthy both as a deal and as a reminder that the ThankYou Preferred card is very valuable in a number of ways. Yes the ThankYou Premier and Prestige cards are also tremendous, but if you are looking to pickup a decent bonus with minimal spending, then this card is definitely one to look at.