Citi Thank You Premier Card 50,000 point sign-up bonus

Citi has upped the bonus on their Thank You Premier Card, which now offers a 50,000 point sign up bonus (sign-up offer expired) after $2,000 worth of purchases in the first three months. Thank You Points used to be much more rewarding, though nowadays can be redeemed for airfare at a fixed rate of 1.33 cents per point, so you’re basically getting $665 of airfare through this sign up bonus. The annual fee is $125, which is not waived for the first year, bringing down the maximum value of this offer to $540.

I’m only mentioning this offer because it’s much better than their normal offer. I have no intentions of signing up for the card, since it’s really not much better than a normal 30,000 mile sign-up bonus (valuing miles at 1.8 cents each), which is on the low side nowadays.

Still, I’m sure it interests some of you.

Comments

  1. Lucky,

    In the post you mentioned, “The other catch is that when redeeming for airfare, you have to pay for the ticket entirely with points. In other words, I can’t book a $1,000 ticket and apply $665 worth of credit (50,000 points) to the booking.”

    I might be missing something but I just double check in my ThankYou account and tried to book a flight that requires 116,200 points. I only have 42,890 in my account. However, there is an option to click on “Short on points? Click payment options to redeem and purchase”.
    I can apply the 42,890 to the 116,200 and pay the remaining $733.91 in cash.

    I’m not sure if that is the feature you were referring to or not, but I just thought your readers might want to know what is and is not possible.

  2. I have another question about such point credit cards.

    I have a travelocity Barclay’s AMEX, coming up for renewal and I wonder- if I do not choose to pay for the renewal charge whether my points will be forfeited.

    If you cancel the CitiCard after one year, will any remaining points also go away?

  3. @ Craig — I’m fairly confident I’m nearing the twilight zone, because I have no clue where that came from. You want to know how screwed up I am? This credit card made an appearance in my dream last night. Actually, I’m pretty sure that’s where I got that restriction from. I need to get my facts from a better place. 😀

    @ m henner — While I don’t know about that specific card, typically if points are held with the card’s program itself (as opposed to an outside loyalty program), they would be forfeited if you cancel it.

  4. @m henner, all you have to do is cash in for one of the gift cards just before you cancel. You can get one large gift card from a hotel chain or car rental company etc, or mix and match.

    @coins, why wouldn’t you sign up for this card? Even after I subtract the $125 fee, if I cash in for hotel/car etc, you’re still left with a net of $375. What am I missing?

  5. A great feature of this card is that you earn 1 pt per mile flown on airfare purchased with the card. This works (at least it used to) even if you only charge the residual amount due after using a voucher. These used to be banked as ‘flight points’ that would only post as a 1:1 match on other spending, but now these apparently will post directly as redeemable points!

  6. Lucky, the card offer doesn’t sound bad. I would set different hurdles for points used to offset cash airfares and points for award travel. With points used to offset cash fares, citi writes a check to your airline and you are viewed as a regular revenue passenger and earn eqm and rdm, and you are eligiable for upgrades if you meet the regular requirements. This sounds like great seed money for a mr or a real vaca.

  7. FYI while this won’t help many I thought I would bring up that the card is annual fee free to citi bank customers who are Citi Gold account holders.Any combination of relationship accounts with assets of 50k or more
    Savings,checking IRA money market any combo works………
    And you are allowed fee free for a small variety of citibank credit cards including AA Amex or other

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