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Citi ThankYou Premier Credit Card: Big Changes Coming in April 2015

Credit Cards
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Citi ThankYou Premier Credit Card

If you have the Citi ThankYou® Premier Card or were thinking of getting it, the Nerds are here with some important news: Beginning April 19, 2015, the card’s rewards earning structure and annual fee are changing.

Here’s everything you need to know about the switch – including an assessment of whether or not the card is still right for you.

The Citi ThankYou® Premier Card: What it offers now

Currently, the Citi ThankYou® Premier Card is a great choice for people who spend big bucks on dining and entertainment. Cardholders are earning:

  • 3 ThankYou points per dollar spent on dining and entertainment.
  • 2 ThankYou points per dollar spent on travel (airfare, hotels and travel agencies).
  • 1 ThankYou point per dollar spent elsewhere.

In terms an annual fee, the card charges $125, waived for the first year. Plus, it comes chip-enabled and charges no foreign transaction fees.

It’s also worth noting that the Citi ThankYou® Premier Card is one of only three cards from Citi that allows you to transfer ThankYou points to participating frequent traveler programs at a 1:1 ratio. This feature adds a layer of flexibility that folks who are skilled at hacking frequent flyer award charts appreciate.

The Citi ThankYou® Premier Card: What’s changing on April 19

On April 19, 2015, the way you’ll be able to earn ThankYou points with the Citi ThankYou® Premier Card will shift. Essentially, the triple and double points categories will flip, so you’ll be racking up:

  • 3 ThankYou points per dollar spent on travel.
  • 2 ThankYou points per dollar spent on dining and entertainment.
  • 1 ThankYou point per dollar spent elsewhere.

Cardholders with a case of wanderlust will also be happy to learn that the “travel” category is expanding to include:

  • Airfare
  • Hotels
  • Gas
  • Tolls
  • Car rental agencies
  • Travel agencies
  • Cruises
  • Parking
  • Taxis
  • Railways

The other big change coming to the Citi ThankYou® Premier Card is a drop in its annual fee. Instead of $125, waived for the first 12 months, customers will pay $0 for the first year, then $95.

Other card perks, like no foreign transaction fees, chip technology, the signup bonus, and the ability to transfer points to participating frequent traveler programs will stay the same. Also, these new benefits will apply to both new and existing cardholders.

Is the Citi ThankYou® Premier Card still right for you?

Generally, the Nerds think that the changes coming to the Citi ThankYou® Premier Card are a net positive for most consumers. Between higher rewards earning on travel, a bigger travel category that includes gas, and a reduced annual fee, most folks will benefit from these changes.

This shift in benefits also makes the Citi ThankYou® Premier Card more competitive in the travel credit cards space. If Citi adds a major domestic carrier to its frequent traveler transfer partner list, the Citi ThankYou® Premier Card could end up giving heavyweights like the Chase Sapphire Preferred® Card a run for its money.

Still, if you don’t travel much and liked the Citi ThankYou® Premier Card because you were earning big rewards on dining and entertainment, you might be disappointed by the changes coming to the card.

And, unfortunately, there aren’t many cards on the market that offer triple rewards on dining and entertainment. But if you like the ThankYou points program, you might want to consider switching to the Citi ThankYou® Preferred Card. You still only be earning 2 ThankYou points per dollar spent on dining and entertainment, but at least you’ll be paying an annual fee of $0. After all, there’s no point in shelling out cash every year for travel benefits you’re not using.

Looking for other plastic recommendations? Be sure to check out our tool for the best credit card offers on the market today. Happy swiping!


 

Image via iStock.