Citi Prestige Card Review | NextAdvisor with TIME
Good for Premium Travel Perks
Citi Prestige® Credit Card
Rewards rate:
Earn 5 points per $1 on Air travel. Earn 5 points per $1 on Restaurants. Earn 3 points per $1 on Hotels. Earn 3 points per $1 on Cruise Lines. Earn 1 point per $1 on all other purchases.
- Intro bonus: 50,000 points
- Annual fee: $495
- Regular APR: 16.99% – 23.99% variable APR based on your creditworthiness*
- Recommended credit score: 740-850 (Excellent)
The Citi Prestige Card charges a hefty $495 annual fee, but its high-earning rewards categories and valuable annual benefits can help you quickly offset the cost year after year — if you already spend big on travel. Even if you’re not traveling right now, 5x points on dining, combined with a $250 travel credit extended to supermarket and restaurant purchases for 2021 can help you save money today toward a future trip.
At a Glance
- 50,000 bonus points when you spend $4,000 within three months of account opening
- 5x points on dining and air travel
- 3x points on hotels and cruises
- 1x points on other purchases
- $250 annual travel credit (also applies to supermarket and restaurant purchases through December 2021)
- Up to $100 toward Global Entry or TSA Precheck membership every five years
- 4th night free annual hotel benefit
- $495 annual fee
Pros
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High rewards rate for travel purchases
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50,000-point welcome bonus
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Flexible rewards redemptions, including transfer option to Citi ThankYou airline partners
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No foreign transaction fees
Cons
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High variable APR
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$495 annual fee
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Twice-per-year cap on 4th night free hotel benefit
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No travel protections or assistance services
Additional Card Details
Citi Prestige offers an array of travel perks to help you recoup the annual fee cost.
You’ll qualify for a $250 annual travel credit automatically applied to eligible travel purchases charged to your card. This credit is also good for supermarket and restaurant purchases through December 2021.
You’ll also receive up to $100 toward Global Entry or TSA PreCheck, and Priority Pass Select airport lounge membership, both of which can make flying a much more comfortable experience. And when you book at least four consecutive hotel nights through ThankYou.com you’ll get the fourth night free, though this benefit is only available to cardholders up to two times per calendar year.
However, Citi eliminated most travel protections from the Citi Prestige a few years ago, so you cannot get the auto rental insurance, trip cancellation or delay protections, or roadside dispatch and other emergency assistance services that many other premium travel cards in this price range offer.
Pro Tip
If you also bank with Citi, you can gain extra value with this card’s banking benefit. Every year you carry the Citi Prestige Card and pay the annual fee, you can qualify for a $145 statement credit to your qualifying Citigold account.
Should You Get this Card?
If you budget a healthy portion of your spending plan each month toward travel, Citi Prestige can make a valuable addition to your wallet: 5x rewards on dining and air travel and 3x on hotels and cruises will rack up points quickly — as long as you would have spent heavily across these categories anyway, not just to earn rewards. And the added annual benefits maximize value even further.
But if you only travel occasionally — even outside the pandemic and limited travel of the past year — or you won’t use all the annual benefits Citi Prestige offers, you’ll likely find more value from a less costly rewards credit card. Citi Prestige is best for people who spend a lot on travel and want to redeem rewards on that spending for even more travel, while enjoying some premium perks along the way.
How to Use the Citi Prestige Card
Begin maximizing your Citi Prestige Card by…
Read More: Citi Prestige Card Review | NextAdvisor with TIME