Citi ThankYou Rewards Credit Card Reviews: Preferred Card and Premier Card

Citibank has recently introduced to brand new rewards credit cards, the Citi ThankYou® Preferred Rewards Card and the Citi ThankYou Premier Card. Both cards rewards card members with ThankYou Rewards Points for using the card on everyday purchases, though at different levels, and they both offer incentives for applying for the new cards. The big difference between them is that the Preferred Card has no annual membership fee while owning the Premier Card will cost you $125 per year.

With the Citi ThankYou® Preferred Rewards Card, you are able to earn 1 ThankYou Point for very dollar spent. However, for new cardholder in the first 12 months, you can get 5 ThankYou Points for every $1 you spend on purchases at gas stations, supermarkets and drugstores for 12 months. Plus, there’s no limit on the number of rewards points you can earn and earned points will not expire as long as you charge the card at least once in the 12 months period (it’s also good to keep the card alive so it won’t get canceled by the issuer).

If you are interested in this card, you can get it now and receive 15,000 bonus ThankYou Points (redeemable for a $150 gift card) after spending $1,000 in the first three months of becoming a cardholder. Here’s a quick summary of the card’s features:

• Earn 15,000 bonus ThankYou Points after $1000 in card purchases within 3 months of account opening – enough for $150 in gift cards or other great rewards!
• 0% intro APR on Balance Transfers and Purchases for 12 months. After that, the variable APR will be 12.99%-22.99% based upon your creditworthiness*
• Earn 1 ThankYou Point for every $1 you spend on all purchases
• No expiration and no limit on the points you can earn
• Redeem ThankYou Points for merchandise, travel rewards, gift cards, cash and more
• Earn extra points when you shop through the ThankYou® Bonus Center, a network of 600+ retailers you know and love
• Travel with ease and enjoy global acceptance with Chip Technology
• No annual fee*

As for the Citi ThankYou Premier Card, the rewards program is better, but as mentioned above, the extra benefits come with a price that many people may not want to pay (I definitely won’t). The Premier Card lets you earn 1 ThankYou Points for purchases and earn Earn points for the miles you fly when you purchase a ticket with your Citi ThankYou Premier Card. And these additional benefits come with an annual fee of $125. The good news is that the annual fee is waived for the first 12 months. There are no points cap and points earned never expire.

Like the Preferred Card, you can also earn unlimited rewards points with the Premier Card and the points never expire and there’s no once-a-year-purchase requirement.

While the Premier Card is expensive to own, it does offer a better initial bonus for new cardholders. If you can spend $2,000, which is also more than the Preferred Card required for bonus, in the first three months of membership, then you will be able to earn 30,000 ThankYou Points as bonus, which can be redeemed for a $300 gift card.

Maybe you can get the Premier Card, spend $2,000 in 3 months, receive the $300 bonus, and then cancel the card within the first year and pocket $300 profit