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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: Hryshchyshen Serhii / Shutterstock.com April 23, 2021 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Ted Rossman is a senior industry analyst at Bankrate.com. He focuses on the credit card industry and helps consumers maximize rewards, get out of debt and improve their credit scores. Barri has written in the personal finance vertical—including credit cards—for more than 20 years. She currently identifies and reports on news and top trends in the credit card industry and authors in-depth interview pieces with industry experts. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
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I think the card is stronger now than it was a year ago. Besides travel, cardholders also get 3 points per dollar at supermarkets and restaurants. That elevated earning rate kicked in last August. One negative is that the card dropped its 25 percent bonus for booking travel through Citi. It also eliminated bonus points for entertainment purchases and certain travel categories (aside from air travel, hotels and gas). Non-bonus purchases earn 1 point per dollar. The $95 annual fee can be offset by the annual hotel credit. If you’re thinking of signing up for this card, the 80,000-point welcome bonus is worth at least $800. To qualify, you need to spend $4,000 or more within three months of opening the account. The primary competition
In raising the statement credit valuation, the Citi Premier Card is following pandemic-inspired moves such as Chase’s program—particularly on the travel-oriented and —and a similar everyday rewards incentive on the and the . Those initiatives allow cardholders to redeem their points or miles for everyday categories at a higher valuation that used to be reserved solely for travel. The Chase and Capital One promotions are slated to expire at the ends of September and June, respectively, although both have been extended previously. While I hesitate to say that anything is permanent in life or in credit cards, it appears that Citi’s tilt towards cash back is the most likely to stick. In 2017, the began offering 1 cent per point for statement credits (up from 0.5 cents), and it still does today. The bottom line
While these changes can largely be attributed to the pandemic and the temporary migration away from travel and toward everyday purchases, I think card issuers would be smart to keep them around for the long haul. Even in more normal times, cash back is valuable for its simplicity and its universal appeal. Travel points and miles are often more lucrative, but those programs are a lot more complicated. It’s not always easy to get the best value on the dates you want to travel or the places you want to go. The Citi Premier has something for everyone. The ability to earn points on a variety of everyday and occasional categories is very beneficial. And if you want to use your rewards for something simple and universal like a statement credit, that’s now worth twice as much as it used to be. For those who love to travel and are willing to put in the work to find the best deals and transfer to airline partners, that’s another good option. Have a question about credit cards? E-mail me at and I’d be happy to help. The information about the Citi Prestige Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer. SHARE: Ted Rossman is a senior industry analyst at Bankrate.com. He focuses on the credit card industry and helps consumers maximize rewards, get out of debt and improve their credit scores. Barri has written in the personal finance vertical—including credit cards—for more than 20 years. She currently identifies and reports on news and top trends in the credit card industry and authors in-depth interview pieces with industry experts. Related Articles