Citi ThankYou® Preferred Card Review

Citi ThankYou® Preferred Card Editor's Rating: 3.75 / 5

Do you enjoy a fine night out, dining at restaurants and various types of entertainment? How would you like to earn points for those experiences, then use those points toward paying your card statement, or for other shopping experiences including merchandise, gift cards, or on Amazon.com? The Citi ThankYou® Preferred Card is a rewards card that offers higher reward multipliers for dining and entertainment purchases. If this sounds like you, then this card is probably for you. Find out more in the full review below.

In this review, you'll find:

Citi ThankYou® Preferred Card Overview

With the Citi ThankYou® Preferred Card , you'll earn two ThankYou® points for every dollar you spend on purchases for dining at restaurants and entertainment, and one ThankYou® point for every dollar you spend on other purchases. Redeem your points at thankyou.com for a variety of rewards, including gift cards, travel, and online shopping. With no annual fee, that deal could be pretty attractive just to try out the card. Or, get it and use it just for your dining and entertainment purchases while keeping a second rewards card to charge other category purchases to, in order to maximize your rewards. Plus, cardholders enjoy access to Citi Private Pass, giving you access to pre-sale and VIP tickets for concerts, sporting events, movies, theater, and more.

Advantages

Flexible point redemption. Redeem your ThankYou® points for pretty much anything, including travel rewards like flights, hotels, car rentals,and cruises. Or redeem points for gift cards, prepaid cards, cash back, shopping with Amazon.com, statement credits, and more.

Disadvantages

Requires excellent credit. You'll need excellent credit to qualify for this rewards card.

Balance transfer fee. Although you'll save on interest, expect to pay a 3% balance transfer fee.

Point value varies. Citi wants to influence the way you spend your points by making points worth varying amounts depending on how you spend them. For example, 2,000 points gets you a $20 gift card, where, if you use those same points for a statement credit, they're only worth half.

What It Looks Like in Real Life

Spend $500 a month on dining and entertainment charged to this card, and you'll receive 1,000 points a month. 100 points is equivalent to about $10 depending on how you spend it, so you could enjoy a free night out on Citi once every four months for moderately priced dining, or a really nice night out once a year. If you use your points on a statement credit, they're only worth half, so you're only looking at around $60 in rewards per year (here's a hint, Citi doesn't want you to use your points this way, they want you to shop). Of course, if you spend more, you'll earn more.

Should You Get the Citi ThankYou® Preferred Card ?

There are four good reasons to get this card. If you fit any of these scenarios, you should consider applying for this card.

  1. You like eating out at restaurants and spending money on entertainment
  2. You're looking for some flexibility in how you redeem credit card rewards
  3. You're looking to do a balance transfer, or make a major purchase where you want a 0% interest rate for 15 months
  4. You're looking for a card with no annual fee.

If any of those four describe you, then the Citi ThankYou® Preferred Card is for you. Get it right now.

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