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The AT&T Points Plus Card from Citi just debuted this month — but if you think the name sounds familiar, you're not mistaken. Citi has previously offered two other AT&T-branded credit cards, the AT&T Access Card from Citi and the AT&T Access More Card from Citi. (Both of these close cousins have closed to new applicants.)
As the name suggests, the AT&T Points Plus Card from Citi offers perks for AT&T customers, specifically in the form of a statement credit every billing cycle. The card also has a sign-up bonus and doesn’t charge an annual fee. But you'll need to spend enough on the card and agree to enroll in autopay in order to earn the credits; plus, purchases made at AT&T won't earn you any extra points.
Here are five things to know about the AT&T Points Plus Card from Citi.
1. It has a sign-up bonus
While many credit cards offer a bonus to new cardholders when they meet certain spending requirements, not all do. Citi does not usually offer a bonus on its popular Citi® Double Cash Card.
The AT&T Points Plus Card offers the following: Earn a $100 statement credit if you spend at least $1,000 on purchases in the first three months of account opening.
That’s a decent reward for spending $1,000, especially if you already intended to spend that amount. However, it’s hardly the best out there. The U.S. Bank Cash+® Visa Signature® Card’s sign-up bonus is double that of the AT&T Points Plus Card, and the spending requirement is the same: $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
» MORE: Best credit card bonuses
2. It earns Citi ThankYou points
Rather than cash back or credits toward your phone bill, the AT&T Points Plus Card earns rewards in Citi’s proprietary currency, ThankYou Points. Cardholders will earn:
3 ThankYou points per $1 spent at gas stations. (Gas purchases at warehouse clubs like Costco don’t qualify.)
2 ThankYou points per $1 spent at grocery stores, including grocery delivery. (Purchases made at superstores and warehouse clubs don’t qualify.)
1 ThankYou point per $1 spent on all other purchases, including AT&T products and services.
Notably, money spent with AT&T doesn't earn any bonus rewards. It's exceedingly rare to find a branded credit card that does not earn higher rewards on purchases made with that brand.
There's no limit to the number of points you can earn, and points do not expire. And if you have other Citi cards that earn ThankYou points, you can consolidate all of your points into one account.
3. You can earn up to $240 in annual statement credits — with some strings attached
Each billing cycle, cardholders can earn either a $10 or $20 statement credit, as long as they reach certain spending thresholds with the card:
$500 - $999.99 spent per billing cycle earns a $10 statement credit.
$1,000 or more spent per billing cycle earns a $20 statement credit.
In addition, an AT&T wireless account must be enrolled in paperless billing and autopay (with the AT&T Points Plus Card set as the payment method) in order to qualify for the $10 or $20 statement credit.
A statement credit reduces your balance but does not count as a regular payment.
4. You can redeem points for an additional statement credit
Citi ThankYou points can be redeemed in several ways, including cash back and statement credits. 1 point is worth 1 cent when redeemed this way.
With enough spending, you could effectively earn two statement credits in one billing cycle if you chose to redeem your points each month. You could earn either a $10 or $20 statement credit, based on your spending, plus you could redeem your ThankYou Points for an additional credit on that same statement.
Stacking two statement credits can make your monthly bill a little more manageable.
5. You'll probably do better with a different card
Simply put: Other no-fee credit cards beat the AT&T Points Plus Card’s rewards rates in terms of number and scope.
If you're putting a lot of miles on your car, the $0-annual-fee Citi Custom Cash℠ Card could be a better card for gas purchases than the AT&T Points Plus Card. With the Citi Custom Cash℠ Card, you can earn 5% back on your top spending area on up to $500 per billing cycle.
Instead of using the AT&T Points Plus Card for groceries, you might pay with the Capital One SavorOne Cash Rewards Credit Card. Its 3% rate on groceries is superior to that of the AT&T Points Plus Card, and it extends to other popular spending areas: dining, streaming services and entertainment. The Capital One SavorOne Cash Rewards Credit Card also has a $0 annual fee.
Then, there’s a flat-rate card like the Wells Fargo Active Cash® Card, which earns an unlimited 2% back on every purchase, not just on groceries like the AT&T Points Plus Card. Its annual fee is $0, and it comes with a sign-up bonus: Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.
» MORE: Best rewards credit cards