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Citi ThankYou Preferred Card Review

Citi ThankYou Preferred Card

Your best card if you eat out regularly and like to see movies.

The Citi ThankYou® Preferred Card is meant for those who prefer dinning out as well as for those who can’t live without different kinds of entertainment. It’s worth mentioning that the card implies lots of options that fall under the “entertainment” category. For example, it allows you to earn rewards for visiting concerts, sports events as well as going to zoos, theatres and many more places in a city. Therefore, it’s right to say that the card will be perfect for those who don’t like to stay at home much. At the same time, if you want to get the card that will rewards you a sign-up bonus or a fair cash back, this card isn’t the one to get.

Below we provide detailed information on the card so that you can be aware of both its advantages and drawbacks. We recommend you reading this information through in order to make the right decision and see whether you need the card.

Basic features and advantages of the card

Citi ThankYou Preferred Card

This card offers its potential cardholders an opportunity to earn 2 points for each dollar they spend when making purchases with it. In particular, this reward applies to the purchases made at various restaurants and places where people go to entertain themselves. All the rest purchases will bring a cardholder 1 point for each dollar he/she spends. There are no limits in terms of how many points you can earn. Besides, your points will never expire (provided that your account is active).

  • The card comes with broad definition of the bonus categories for the purchases in which you get rewards. If you look through the list of the places included in the “restaurants” category, you’ll find out that there are not only top restaurants there, but also fast-food places, bars, cafes and lounges. The same can be said about the “entertainment” category. You’ll be amazed at how many places there are. This makes it quite easy for you to earn 2x points if you’re the one who likes different types of entertainment. For example, you’ll find movie theatres, concerts, amusement parks, carnivals, aquariums and many more places on the list. There are even video rental places mentioned. If you like spending time with your family watching some VHS tapes, the card is also beneficial for you.
  • The card promises a rather long interest free period. Well, the bonus period in terms of APR doesn’t last that long if you compare the card with some other credit cards available out there. Still, the interest free period you’re to expect once you get the card is quite good.

It’s promised that new cardholders will enjoy an interest free period during the first 15 months. During this period of time, no APR applies to the purchases made with the card as well as balance transfer operations carried out. Once this period is over, the Standard APR applies. It may vary from 14.49 to 24.49%. This make the card perfect for those planning to make a big purchase. In other words, 15 months will be enough for you to pay your purchase off in full without bothering to pay any interests. As far as the offer for the balance transfer operations goes, if you happen to transfer rather big sums of money regularly, you can save a considerable sum of money while carrying out the operations with the card. Once the bonus period is over, you’re expected to pay either 3% of the sum you’re transferring or 5 dollars depending on whichever is greater.

  • You’re not expected to pay anything for the privilege of using the card. As a rule, rewards credit cards require you to pay an annual fee. Even though there may be no annual fee during the 1st year, there applies one starting from the 2nd This card is an exception. It lets you simply enjoy using it without the need to worry about earning enough rewards to make up for the fee you pay each year.

The drawbacks of the card and other options that may seem interesting for you

Before applying for the Citi ThankYou® Preferred Card, you need to think over whether you spend enough in terms of entertainment and going to restaurants. If you’re not a fan of such like activities, the card may be not that great for you.

  • The card doesn’t offer any rewards for the daily purchases you make with it. In fact, if you’re the one who spends a lot on buying thing needed everyday, there is a better option for you to pay attention to. We are talking about the Blue Cash Everyday® Card from American Express. It’ll be more than useful for those spending big sums of money on gas and groceries. The rates are 3% and 2% respectively. Keep in mind that they will apply only for the purchases made at certain places. If you’re fine with having to buy what you need at the US supermarkets or gas stations to get the most out of the card, well you found the best card for yourself. This card also has a nice surprise for new cardholders – the bonus provided as a statement credit ($150). You’ll get it only under the condition that you manage to spend $1,000 during the first 3 months of using the card. Besides, it also has a bonus period in terms of no APR for the purchases and balance transfer operations and implies no annual fee to pay. Just like in case of the Citi ThankYou® Preferred Card, the period lasts for 15 months.
  • If you’re looking for a card that will help you decrease your current debt, this card doesn’t fit you. Of course, there is a certain interest free period implied. However, the card isn’t advantageous for those who already have a debt and with to transfer it to a different card with an interest free period. If that sounds like you, take a minute to consider a possibility of applying for the Chase Slate®. This card will be especially valuable for those looking for opportunities to decrease their current debts. If you transfer your current debt to this card, you can be sure that there won’t be any fee to pay for it. Besides, the card also has a long interest free period of 15 months. This is quite convenient since you get plenty of time to pay off your purchases in full. Moreover, you’ll also be provided a free access to your FICO® Score.
  • There is no sign-up bonus waiting for you. It became common for rewards cards to offer potential cardholders appealing sign-up bonuses. With this card, unfortunately, you get no such luck. Fortunately, you won’t have to look for a different card offering a sign-up bonus long since there are lots of them at the market.

Summary: Is the Citi ThankYou® Preferred Card worth paying attention to?

The card can’t be called the best of the best. Still, it has its own benefits that certain people will like. We are talking about those who want to earn rewards for eating out and enjoying different kinds of entertainment. If this is about you, don’t hesitate to apply for the card.

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