The Citi Premier Card–a tier three credit card that allows you to earn and redeem ThankYou points–will be undergoing several changes starting August 23, 2020. Citi promises to offer “additional earning potential within the categories that matter most”, including valuable restaurant and supermarket rewards, as well as additional money-saving hotel benefits for the Citi Premier cardholders.
“As our cardmembers’ needs evolve, we want to ensure we’re evolving with them and offering products that best meet their spending habits and deliver exceptional value,” explains Lora Monfared, general manager of proprietary rewards products at Citi.
Here is an outline of the coming rewards and benefits changes.
New Citi Premier bonus categories
The following new bonus categories will come into effect on August 23, 2020 and if you’re an existing Citi Premier cardmember (approved before April 10, 2020), you will receive the new bonus categories as of August 23 in addition to maintaining the existing bonus categories through April 9 of next year.
- higher rewards rate at restaurants (3X, currently 2X)
- higher rewards rate at supermarkets (3X, currently 1X)
- new hotel benefit — $100 off a single hotel stay of $500 or more (excluding taxes and fees) once per calendar year through ThankYou Travel Center For existing cardholders bonus rewards on other travel, such as cruises, tolls and parking as well as on entertainment will be lowered to 1X. Currently Citi Premier cardholders earn from 3X on other travels and 2X on entertainment.
Transferring your ThankYou points
Currently, Citi ThankYou points can be transferred to ThankYou airline partners and also redeemed for 1.25 cents towards travel through the Citi portal. As of April 10, 2021, ThankYou points earned on the Citi Premier can be redeemed at only 1 cent towards travel purchases through the portal.
In other words, all cardholders will have until April 9, 2021 to receive 25% more value on points redeemed for airfare, hotels, cruises and car rentals through the ThankYou points redeeming portal.
TO SUM UP
Citi Premier Card benefits for New Members
If you get approved for a Citi Premier Card on or after April 10, the following benefits will be available to you starting on Aug. 23:
- 3X points on air, hotel and gas stations (excludes cruises, tolls and parking)
- 3X points at restaurants
- 3X points at supermarkets
- 1X point on all other purchases
- $100 annual hotel benefit
- 25% more value on points redeemed for airfare, hotels, cruises and car rentals through the ThankYou Travel Center through April 9, 2021
Citi Premier Card benefits changes for existing cardmembers
- 3X points on other travel categories, such as cruises, tolls and parking will end on April 10, 2021
- 2X points on entertainment will end on April 10, 2021
- 25% more value on points redeemed for airfare, hotels, cruises and car rentals through the ThankYou Travel Center will end on April 10, 2021
- 3X points earned at restaurants (currently 2X) starting on August 23, 2020
- 3X points earned at supermarkets (currently 1X) starting on August 23, 2020
- New hotel benefit — $100 off a single hotel stay of $500 or more once per calendar year through ThankYou Travel Center
In a sense, the Citi Premier Card combines the Amex Gold and Chase Sapphire Reserve cards in the bonus categories.
The Citi Premier Card has a $95 annual fee. If you’re looking for a card that offers rewards but has no annual fee, check out tier two credit cards.