Citi Prestige Credit Card

The Citi Prestige Card is part of a small category of elite travel reward credit cards. It earns this status based on its 50,000 bonus points, up to 5x rewards, and annual travel credits. Like other elite cards, however, it does come with a hefty annual fee–$495. In this review we cover the Citi Prestige Card‘s features and benefits so you can determine if the card is worth the cost.

For a limited time, new cardholders of the Citi Prestige Card will earn 50,000 bonus points after spending $4,000 in purchases within the first three months of account opening.  If you use those points to redeem for airfare at ThankYou.com, those points can be worth in upwards of $500.

In addition to the big up front bonus, there are two additional recurring perks associated with theCiti Prestige Card.

  1. Complimentary 4th Night FREE – Booking travel through ThankYou.com, you can earn a 4th night free whenever you book three consecutive nights in your hotel stay.   You can also use the Citi Prestige® Concierge when booking.  The free 4th night is based on the average price of your first three nights so for example if the 4th night is a Saturday, you may pay a little out of pocket.
  2. $250 Annual Credit on Air Travel – Every year you renew theCiti Prestige Cardxf, you’ll earn a $250 air travel credit.  This means that when an expense like airfare, baggage fees, or upgrades is charged to your card, The first $250 will be credited back.  If you do not spend $250 each year in travel expenses then the difference is NOT credited to your account (and truth be told, this card is not for you).

Ongoing Rewards

The rewards program for the Citi Prestige Card is straightforward. Cardmembers will earn the following ThankYou® points:

  • 5 ThankYou® Points per $1 spent on Air Travel and Restaurants
  • 3 ThankYou® Points per $1 spent on Hotels and Cruise Lines
  • 2 ThankYou® Points Per $1 spent on Entertainment (will be reduced to 1x Points on 9/1/2019)
  • 1 ThankYou® Point per $1 spent on everything else

As if everything you read above isn’t enough to get you excited about theCiti Prestige Card, here are a few more benefits to being a cardmember.

Perks

Airport Lounge Access – Cardmembers have access to all Priority Pass lounges in the US.  Currently, there are over 1,200 Priority Pass lounges and the cardmember + immediate family or two guests gain free entry.

25% Point Bonus – When you use your points to book travel through ThankYou.com, they instantly become 25% more valuable.  This mean that 100 points (usually worth $1) are worth $1.25 in travel.  You also have the ability to transfer your points to other loyalty programs like TrueBlue, Virgin Atlantic Flying Club and Hilton Honors (to name a few).  The minimum point transfer is 1,000 points and there is no penalty or fee to do so.

Important: Citi will discontinue the 25% bonus effective September 1, 2019. (Source: Citibank)

Global Entry / TSA Statement Credit – For those who benefit from using TSA Precheck, Citi will reimburse you the $100 Global Entry fee every five years.  This is the security line you see at the airport going faster than yours.  It’s renewal is required every five years, thus why Citi is offering you this $100 once every five years.

Citi Prestige Card Pricing Details

Now that you see all of the benefits above, the question that begs itself is “How much is this going to cost?”  The annual fee on theCiti Prestige Card is $495 and it is not waived for the first year.  If you add an authorized user to your account, they will pay their own $75 annual fee.  The standard variable interest rate for purchases is 17.99% – % and it also applies to balance transfers.   Balance transfer fee is 3% (or $5, whichever is greater).

Few cards today charge an annual fee that high, but theCiti Prestige Card almost dares you to complain about the high annual fee.  With all of the current benefits and the 50,000 point bonus, I’m not sure you can.

  • Earn 50,000 bonus points after spending $4,000 within 3 months of account opening
  • 50,000 bonus ThankYou® Points are redeemable for $500 in travel, anytime, with no blackout dates when booked through the ThankYou Travel Center
  • 5x points on air travel and restaurants
  • 3x points on hotels and cruise lines
  • 1x points on all other purchases
  • No foreign transaction fees
  • $250 Travel Credit Every Calendar Year
  • Annual Fee: $495

If you find yourself traveling often, the Citi Prestige Card has the potential to save you thousands.  If you’re a light traveler, than using this card for at least one year is a must.  After your test drive, figure out if the $450 annual fee makes sense for your budget.  Staying a 4th night at a hotel just a few times a year should pay for the annual fee and then some.