Travel is back — and so are travel rewards credit cards. And while the Citi Premier might might not be the best known premium travel card, it offers enough rewards to make it a strong contender.
Key Terms
Welcome Bonus: Limited time offer: 80,000 bonus points after spending $4,000 within three months of account opening
Rewards: 3x points at restaurants, gas stations, supermarkets, air travel and hotels. 1x elsewhere
Annual Fee: $95
APR: 15.99% to 23.99%, based on your creditworthiness
Promotional Financing Offer: None
How This Card Works
New applicants earn 80,000 bonus points after using their card to spend $4,000 within three months of account opening. You also earn three points per dollar spent at restaurants, gas stations, supermarkets, air travel and hotels, and one point per dollar spent on all other purchases.
Points are earned in Citi’s ThankYou Rewards program which allows you to redeem points for merchandise, gift cards, loan repayments and travel reservations, among other things. You can also transfer your points to miles with over a dozen frequent flyer programs including American Airlines, JetBlue, Emirates, Singapore and Turkish. This card also offers an annual $100 savings off a single hotel stay of $500 or more.
There’s a $95 annual fee for this card, and no foreign transaction fees.
Advantages
This card’s 80,000-point new account bonus is a very valuable offer, and it’s only available for a limited time.
Compared to its competitors, this card offers a wide list of purchase categories, including restaurants, gas stations, supermarkets, air travel and hotels, that are eligible to receive 3x points per dollar spent. When the typical household adds up the amount it spends on purchases eligible for this bonus, they’re likely to earn significantly more than one point per dollar spent. The $100 annual hotel credit is also valuable, and can make up for the cost of the annual fee.
Like other premium reward travel cards, this card offers the ability to transfer points to frequent flyer miles. Some of the card’s best transfer partners include American Airlines and perhaps surprisingly, Turkish Airlines. Turkish is a Star Alliance member and it offers award flights on United Airlines, often for much fewer miles than United charges for its own flights.
This card also has no foreign transaction fees, making it a great choice for international travel.
Disadvantages
Citi no longer offers any of the cardholder benefits that were once standard, including travel insurance and purchase protection policies. In fact, this card doesn’t even come with rental car insurance, so you’re going to have to use a different card if you want to avoid paying extra for additional coverage.
Alternatives
Chase Sapphire Preferred. This card is currently offering new applicants 100,000 bonus points after spending $4,000 within three months of account opening. It offers 5x points on travel purchased through Chase, and 3x on all other travel and dining. Your rewards can be transferred to airline miles or hotel points. There’s a $95 annual fee for this card, and no foreign transaction fees.
Capital One Venture. Capital One’s premium travel rewards card offers new applicants 60,000 bonus miles after spending $3,000 on new purchases within three months of account opening. It also offers unlimited double miles on all purchases. Miles are worth one cent each as statement credits towards travel purchases, or can be transferred to airline and hotel partners, typically at a 2:1.5 ratio. There’s a $95 annual fee for this card, and no foreign transaction fees.
American Express Green Card. This card offers new applicants 50,000 bonus miles after spending $2,000 on new purchases within six months of account opening. It also features 3x points at restaurants, on transit and on travel including airfare, hotels, cruises, tours, car rentals, and more. Other benefits include a $100 credit for airport lounge access through LoungeBuddy, and a $100 annual credit for a CLEAR membership that expedites your trip through airport security. There’s a $150 annual fee for this card.
Bottom Line
If you’ve already started traveling again, then you’re probably interested in earning more travel rewards. The Citi Premier stands out from its competitors by offering 3x points on a range of purchases, allowing you to earn enough rewards for your next vacation as soon as possible.
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