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Citi is one of the newest credit card issuers, competing for consumer attention amid a post-pandemic spending spike by offering a temptingly large welcome bonus on one of its flagship cards.
Starting July 8, new Citi Premier® Card holders will be able to collect 80,000 Bonus ThankYou® points when they spend $ 4,000 on purchases within the first three months of opening their account.
When redeemed on Thankyou.com, those 80,000 points are worth $ 800 in gift cards for a variety of stores, from Lowe’s, Target, and Bloomingdale’s, as well as restaurants like The Cheesecake Factory and online services like Hotels.com®. Otherwise, the Citi Thank You Points can be redeemed as a bank statement, transferred to one of Citi’s 16 airline partners, or even used for your mortgage or student loan payment. Some Citi Premier cardholders are allowed to withdraw their points for 1 cent apiece, according to the Doctor of Credit, which means 80,000 points could potentially be worth $ 800. However, this price is not guaranteed.
ThankYou points can be very valuable when you transfer them to one of Citi’s travel partners, such as Virgin Atlantic or Air France-KLM’s Flying Blue. For example, you can transfer 90,000 ThankYou points to Virgin Atlantic and book a round-trip flight from the west coast of the US to Japan in ANA’s Business Class. Or switch to Turkish Airlines and book domestic United Airlines flights with one-way flights from as little as 7,500 miles.
This increased bonus is 20,000 points higher than the previous welcome offer – meaning it’s worth $ 200 more when redeemed in gift cards. In addition to updating the sign-up bonus, Citi has also updated the Premier’s map artwork.
Citi Premier® card
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reward
3X points for every $ 1 spent in restaurants, supermarkets, gas stations, hotels and air travel, 1X points for all other purchases
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Welcome bonus
80,000 Bonus ThankYou® Points after spending $ 4,000 on purchases within the first 3 months of opening your account
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annual fee
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Introduction of APR
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Regular annual interest
15.99% to 23.99% variable APR on purchases and credit transfers
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Transfer fee for the credit
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Foreign transaction fee
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Credit needed
Who is the Citi Premier Card for?
The Citi Premier Card rewards program makes it a great option for frequent travelers. Cardholders receive 3X Thank You Points for every US $ 1 spent on hotels, air travel, and at gas stations, restaurants and supermarkets. The bonus categories and earn rates are pretty competitive for a card with an annual fee of only $ 95.
Even foreign travelers cannot expect any foreign transaction fees when shopping abroad.
In addition, Citi recently added new perks to the Premier Card that allow cardholders to save $ 100 on reservations made through Thankyou.com once per calendar year on hotel stays of $ 500 or more, excluding taxes and fees. If you can take advantage of this, the $ 95 annual card fee will be fully offset.
Earn 1X point for every US dollar spent on all other purchases on your card. There is no limit to the number of points cardholders can earn and there is no expiration date as long as you don’t downgrade or cancel your card.
If you don’t travel often, consider an alternative Citi option like the new Citi Custom Cash℠ Card. This no annual fee credit card offers 5% cashback on purchases in your top category for eligible expenses in each billing cycle, up to the first $ 500 spent (then 1%). New cardholders can also earn $ 200 cashback after spending $ 750 on purchases in the first three months of opening their account. The bonus offer is fulfilled in the form of 20,000 ThankYou® points that can be redeemed for $ 200 cashback.
Citi Custom Cash℠ card
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reward
5% cashback on purchases in the highest Eligible Spend category per billing cycle, up to $ 500 first spent (then 1%); unlimited 1% cashback on all other purchases
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Welcome bonus
Earn $ 200 cashback after spending $ 750 on purchases in the first 3 months of opening your account. The bonus offer is fulfilled in the form of 20,000 ThankYou® points that can be redeemed for $ 200 cashback.
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annual fee
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Introduction of APR
0% APR on balance transfers and purchases for the first 15 months
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Regular annual interest
13.99% to 23.99% variable
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Transfer fee for the credit
5% of any credit transfer (minimum $ 5)
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Foreign transaction fee
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Credit needed
How does Citi Premier’s bonus compare?
While the new 80,000-point Citi Premier Card welcome bonus is competitive with other $ 95 travel credit cards in the market, some welcome bonuses are even higher.
The $ 95 Chase Sapphire Preferred® Card currently offers new cardholders 100,000 bonus points when they spend $ 4,000 on purchases in the first three months after opening an account (equivalent to $ 1,250 when redeemed for eligible purchases with the Pay Yourself back tool or for travel through the Chase Ultimate Rewards® portal).
Meanwhile, the Capital One® Venture® Rewards credit card offers up to 100,000 miles worth $ 95: 50,000 bonus miles after spending $ 3,000 on purchases within three months of opening your account; plus an additional 50,000 bonus miles after spending $ 20,000 on purchases within 12 months of opening your account.
Chase Sapphire Preferred® card
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reward
5X points for trips to Lyft through March 2022, 2X points for travel and food worldwide, 1X points for all other purchases
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Welcome bonus
Earn 100,000 Bonus Points after spending $ 4,000 on purchases in the first 3 months after opening your account
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annual fee
-
Introduction of APR
-
Regular annual interest
15.99% to 22.99% variable for purchases and credit transfers
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Transfer fee for the credit
Either $ 5 or 5% of the amount of each transfer, whichever is greater
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Foreign transaction fee
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Credit needed
Capital One Venture Rewards credit card
Information about the Capital One Venture Rewards credit card has been independently collected by Select and has not been verified or provided by the card issuer prior to publication.
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reward
5x miles for hotels and rental cars booked through Capital One Travel℠, 2x miles per dollar for every other purchase
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Welcome bonus
Earn up to 100,000 miles: 50,000 bonus miles after spending $ 3,000 on purchases within three months of account opening; plus an additional 50,000 bonus miles after spending $ 20,000 on purchases within 12 months of opening your account.
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annual fee
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Introduction of APR
N / A for purchases and credit transfers
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Regular annual interest
17.24% to 24.49% variable on purchases and credit transfers
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Transfer fee for the credit
3% for promotional APR offers; none for balances transferred at regular APR
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Foreign transaction fee
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Credit needed
Note to editors: Opinions, analysis, reviews or recommendations expressed in this article are solely those of the Select editors and have not been reviewed, approved or otherwise endorsed by third parties.
source https://collegeeducationnewsllc.com/citi-launches-80000-point-welcome-bonus-for-new-premier-cardholders/
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