Citi ThankYou Preferred Credit Card Review

Citi ThankYou Preferred Credit Card Review

Who Is the Citi ThankYou Preferred Card Good For?

The Citi ThankYou Preferred card may not have all the perks that the other ThankYou cards offer, but that doesn’t mean you shouldn’t have one. With no annual fee, it essentially gives you free access to the ThankYou Rewards program and many of its benefits.

For some, this entry-level rewards card will serve as a good introduction to the ThankYou program. If you’d like to see if it works for you, there is no downside to applying.

Premier and Prestige ThankYou cardholders may want to add the Preferred card to their arsenal as an additional source of ThankYou points. Even though the sign-up bonus is relatively small, it’s nice to know that Citibank has several products to help you collect points.

The Preferred card may also be an attractive option for those who want to downgrade from a more expensive ThankYou credit card without losing points. However, you can’t transfer points to airline partners unless you also have a Premier or Prestige card.

POINTS TRANSFER PARTNERS

None

ANNUAL FEE

None

APR

12.99% to 22.99% based on creditworthiness

RECOMMENDED CREDIT SCORE

720+

TYPE OF CARD

World Master Card

ISSUER

CitiBank

Sign-Up Bonus:

The Preferred card comes with a 20,000-mile bonus after spending $1,500 in the first three months.

Points Earned:

  • Two ThankYou points per dollar spent on dining and entertainment
  • One ThankYou point per dollar on everything else

What Do Your Points Get You?

Without any airline or hotel transfer partners, your redemption options are limited. You’ll get the best value when you redeem points for travel purchases, as well as mortgage and student loan payments and some gift cards. You can also redeem for statement credit, shopping and gift cards, but the points will be worth less.

Citi ThankYou® Preferred Card
Citi ThankYou® Preferred Card
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2x ThankYou® Points per dollar spent on purchases for dining at restaurants and entertainment.
1x ThankYou® Point per $1 spent on other purchases.
Points do not expire and earn unlimited ThankYou® Points.

Usage Perks:

  • No annual fee
  • Points are transferable to other ThankYou accounts
  • Earn points through banking
  • Redeem points for mortgage and student loan payments

Usage Quirks:

  • Mediocre earning ability
  • No airline or hotel transfer partners
  • Limited redemption options
  • Points transferred to another account expire in three months

How Far Do Your Points Go?

The best redemption rate you’ll get with this card is a penny per point. You can simply divide the number of points you have by 100 to see what they’re worth for the best redemptions. Your options are somewhat limited, but you’ll get a reasonably good value for your points if you redeem them wisely.

Do more with ThankYou Rewards:

  • Gift cards from your favorite retailers
  • Shop with Points from Amazon.com
  • The latest in electronics and merchandise
  • Travel Getaways
  • Purchase Tickets on LiveNation.com
  • Explore a world of rewards at ThankYou.com

Additional Cardholder Benefits:

  • Chip-based technology
  • Worldwide car rental insurance
  • Roadside assistance
  • Travel and emergency assistance
  • Worldwide travel accident insurance
  • Trip cancellation and interruption protection
  • Personal concierge service
  • Zero liability on unauthorized charges
  • Price rewind
  • Damage and theft purchase protection
  • Extended warranty
  • Compatible with Apple Pay
  • Identity theft solutions
  • Access to Citi PrivatePass