You get to enjoy premium perks, but you’ll have to pay a pretty high price for it.
As a rule, those cards that are considered to be premium ones come with rather big annual fees to pay. At the same time, they offer potential cardholders high effective rates in terms of rewards, very appealing sign-up bonuses, big credit lines and a set of other perks to enjoy. The Citi Prestige® Card is one of the most popular premium travel cards like the Platinum Card® from American Express and the Chase Sapphire Reserve℠. When it comes down whether the card is beneficial for you or not, it depends on whether the rewards and credit lines that can be offered to you will be enough for you in terms of your travelling habits.
Basic features of the card
- Special Offer: You have a chance of being rewarded 40,000 bonus points. This is only under the condition that you manage to spend $4,000 on any kind of purchases during the first 3 months of using the card. This offer seems to be quite attractive. However, the fact is that earlier the bonus was higher. Earlier it was stated that you could get 50,000 bonus points if you spent $3,000 during the same period of time. It’s worth pointing out that the Chase Sapphire Reserve℠ and The Platinum Card® from American Express have more attractive offers for you.
- Annual fee to pay: You’re expected to pay $450. This is a rather steep annual fee. However, The Chase premium credit card has the same fee. In case you get the American Express premium credit card, you’re expected to pay a bit less.
- Your reward: In case you use the card to book hotels or airline tickets, you’ll be rewarded 3 ThankYou points for each dollar spent. When using the card to pay for dinners at various restaurants and different kinds of entertainment, you’ll get 2 ThankYou points. All the rest purchases made with the help of the card will bring you 1 point for every dollar spent. Consequently, the card will be ideal for you if you prefer to regularly dine out or visiting theatres, concerts etc. By the way, Citi PrivatePass that maybe provided to you together with the card allows you to earn more points as far as entertainment goes. It also grants you access to a number of special events.
- Redemption options: You’re free to redeem the points earned as gift cards, or statement credits. You can also use them for your future trips, merchandise and in order to make donations. Of course, you get the best value for your points in case you choose to use them for your future trips. If you decide to book via the official portal, you’ll get a value of 1.33 cents per each point for booking airline tickets and the value of 1 cent for all the other things you need during your trip. In case you want to buy merchandise with your points, redeem them as gift cards or use them to make donations, the value you’ll get will amount to less than one cent per point. In case you choose to redeem the points you have accumulated on your account as cash or credit statements, be ready to get the value of 0.5 cent.
Our tip: If you are one of those cardholders who got their cards before September 2016, you can get a value of 1.6 cents per point when booking with the American Airlines. Be aware of the fact that this is impossible for those who got the card after that month. You should also know that current redemption values were changed in July 23, 2017. Now, every point you redeem to book tickets with any airline is worth 1.25 cents.
- Options in terms of transferring your points: You have an opportunity to transfer the points you have to a number of loyalty programs. There is no fee that you’re expected to pay for this. As a rule, you transfer your points at 1:1 rate. Still, this rate may be different for some programs available. For example, 1 JetBlue point will cost you 1.25 ThankYou points. Besides, you may be interested in knowing that the only domestic airlines partners of Citi are JetBlue and Virgin Atlantic.
The benefits offered by the Citi Prestige® Card in comparison with those offered by its competitors
Since premium cards imply a number of perks that you can enjoy while using them, we believe it’s important for you to know what these perks are before you apply for any of these cards. Below the perks of the Citi card are pointed out:
- Your travel credit: the card rewards yiu7 an annual travel credit of $250 that can be used for booking airline tickets as well as checking bags’ fees, various upgrades and a number of other charges you pay during the flights. Actually, the card offers a higher credit than the Platinum Card® from American Express ($200) that can be used only for single airlines and no airfare. At the same time, the credit offered by the card is smaller than the one offered by the Chase Sapphire Reserve℠ ($300). The Chase card allows you to use the credit for all kinds of travelling expenses.
- Trusted traveler programs that you can take part in: The card allows its cardholders to get a reimburse of $100 once in every 5 years to offset the fee for your TSA Precheck and Global Entry application.
- Access to lounges: Earlier, the Citi cardholders were granted an access to the American Airlines’ Admirals Club. The access isn’t granted anymore for those who got the card after the 23rd of July 2017. If you got the card after that date you would be granted the access only to those lounges that you can get to with your Priority Pass. Actually, the Chase Sapphire Reserve℠ offers access to the same network of lounges. As for the best card in terms of lounge access, it’s the Platinum Card® from American Express that allows you to get not only to the lounges that come with the Priority Pass, but also a number of the AMEX own lounges.
- The benefits you can enjoy while staying at hotels: In case you book with this card four consecutive nights at a hotel via the Citi Prestige Concierge, you’ll get the 4th night absolutely for fee. No other premium card has such like an offer.
- Other perks to consider: Of course, the card comes with all the travel protections you may need. You’ll get reimbursement in case your trip is delayed or cancelled. You’ll get any kind of assistance you may need as well as emergency insurance. There is also lost and delayed baggage protections. Don’t worry about the need to pay extra money for making purchases with the card abroad. There are no fees of this kind.
Exclusive perks of the card
The card has a number of perks that are only available for you in case you’re its cardholder. These perks are totally exclusive – you won’t get them with any other card even if it’s a premium one. First off all, there is the Citi Private Pass that grants you the access to the presale of tickets for lots of concerts, sports events and other special events. As a cardholder you may even get to the Behind the Scenes events. In case you bought a ticket to any event and there occurred something that make it impossible for you to visit this event, you can use the Missed Ticket Protection feature. It allows you to get a reimburse for the ticket’s price.
If you prefer playing golf, the card also has something to offer you. Earlier cardholders could get access to 3 rounds of golf per year absolutely free of charge. The terms changed a bit on the 23rd of July. Still, you have course access.
Apart from the standard purchase protections such as reimbursement in case your purchase is damaged or stolen and return protection, the card provides you with such a perk as Citi Price Rewind. All you need to do is register your purchase on the portal. After that, the card will be tracking the price of the item you want to get for 60 days. In case there is found a place where the same item comes for a lower price, you’ll get the difference in prices reimbursed. There are a number of cards out there that offer the same price protection. The crux of the matter is that this is exactly the Citi that does all the work for you.
One of the biggest problems that many cardholders are facing nowadays is online credit card fraud. Since Citi takes the question of you security seriously, it came up with a virtual credit card that has its own numbers. You can use the number of the virtual card when buying anything online. In case it so happens that your identity is sto9len, Citi will take care of you providing necessary help in terms of both legal and paperwork.
Summary: is the Citi Prestige the card you should have?
The card has a lot to offer not only in terms of rewards, but also in terms of entertainment and perks that are exclusive. These benefits are more than enough to make up for its high annual fee. If you are the one who wants to get rewards not only for travelling, but also for various kinds of entertainment, you’ve found your ideal card.