Author: Anisha SekarVerdict: There are bigger and better cards out there. Even with the decent signup bonus, other credit cards provide far more value.
Thank You Points
The Citi ThankYou® Preferred Card — Earn 30,000 Bonus Points has an OK rewards program, giving just 1 ThankYou Point per $1 spent. It does offer 2x points on dining and entertainment, but there are cards out there that offer a better rewards program. Plus, Citi ThankYou Points can be redeemed for gift cards, statement credits, mortgage/student loan payments, or merchandise. Typically, only gift cards will give you the full one-cent-per-point value.
Alternatives to the Citi ThankYou® Preferred Card — Earn 30,000 Bonus Points
In both signup bonus and ongoing rewards, you can do better than the Citi ThankYou® Preferred Card — Earn 30,000 Bonus Points - especially if you travel. Here are a few options:
Chase Sapphire Preferred(R) Card
The Chase Sapphire Preferred(R) Card
starts off strong: Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. You can redeem your points as a statement credit at full value, but if you redeem for travel booked through Chase, your points are worth 25% more. As for ongoing rewards, you get 2 points per $1 on travel and dining, and 1 per $1 elsewhere. Your rewards rate can be 2.50% on travel and dining and 1.25% elsewhere when you redeem for travel. It has an Introductory Annual Fee of $0 the first year, then $95.
Barclaycard Arrival Plus™ World Elite MasterCard®
The Barclaycard Arrival Plus™ World Elite MasterCard®
gives a strong signup bonus: Earn 40,000 bonus miles when you spend $3,000 or more on purchases in the first 90 days from account opening. Past that, it earns 2 miles on every dollar spent. You can redeem your miles as a statement credit at full value, but if you redeem as a statement credit against travel expenses specifically, you get 10% of the miles redeemed back. This raises your rewards rate to 2.2% on every dollar spent. Its annual fee is $89 - Waived first year.