Citi Prestige Card: World Class Benefits

By Jason Steele. Last updated 20 July 2017. 0 comments

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There is an arms race going on among premium credit card issuers as each is trying to outdo the others by offering the best possible rewards and benefits. The top-of-the-line Citi Prestige® Card from our partner Citi has been relaunched with better rewards and an updated selection of travel benefits.

How This Card Works

Get three points per dollar spent on air travel and hotels, double points on dining out and entertainment, and one point per dollar spent on all other purchases. If you are a Citigold member, you can earn an additional 15% in points. Those with a Private Bank relationship will earn an additional 25% in points. There is no limit to points you can earn and they don't expire. There is an annual fee of $450.

Bonus offer: Earn 40,000 bonus ThankYou Points after spending $4,000 in purchases within the first three months of account opening.

Once earned, points are worth about one cent each for gift cards and merchandise, or even more for travel. Tickets for travel on American Airlines return 1.6 cents per point, while all other airline tickets can be redeemed for 1.33 cents per point. In addition, points can now be transferred to miles with eight different frequent flyer programs or points with the Hilton HHonors program.

Other Benefits

Annual air travel credit. Cardholders will receive a $250 annual air travel credit that can be used for baggage fees, lounge access, in-flight purchases, and even for the payment of airfare.

Global Entry or TSA PreCheck application fee credit. Cardholders will also receive up to $100 in statement credit every 5 years as reimbursement towards an application into the Global Entry program or TSA PreCheck. After approval, you'll be able to bypass the long lines and enjoy expedited entry into the U.S.

Complimentary AA airport lounge access. Cardholders will get to enjoy complimentary access to American Airlines Admirals Club lounges, as well as the lounges in the Priority Pass Select program.

Fourth night stay benefit. Cardholders may extend their trip with a fourth night hotel benefit at any hotel booked through the Citi Prestige Concierge.

Citi card benefits. This card also features many different purchase protection policies including extended warranty coverage, Citi Price Rewind, damage and theft protection, and 90 day return protection. In addition, travelers receive several benefits such as, Citi Prestige Concierge, medical evacuation insurance, lost baggage protection, and trip cancellation and trip interruption coverage. (See also: 10 Awesome Credit Card Perks You Didn't Know About)

Costs

  • $450 Annual Fee
  • 16.74%-24.74% Variable APR
  • 3% Balance Transfer Fee ($5 minimum)
  • $0 Foreign Transaction Fee

Pros

Bonus offer. New cardholders will get 40,000 bonus points if they're able to spend $4,000 on purchases in their first three months of account opening, which is a pretty great bonus. 

Lots of premium benefits. As a premium travel rewards card, the Citi Prestige has a lot going for it. The airport lounge access benefit can be worth hundreds of dollars. A 1.6 cent return on American Airlines flights is competitive. In addition, cardholders are able to transfer their points to 11 airlines as well as the Hilton HHonors program. When applicants also consider the $100 Global Entry or TSA PreCheck application fee credit, and the $250 annual airline fee credit, then it is easy for frequent travelers to justify this card's $450 annual fee.

No foreign transaction fee. It wouldn't be a very good travel credit card if there was a foreign transaction fee on the card to worry about, but fortunately, that is not the case. With no foreign transaction fee, cardholders can maximize on their rewards as they make purchases traveling abroad.

Cons

Not many airline partners. While it is an important first step for Citi to feature transfers from points to miles, the airline partners it currently offers leave much to be desired. Out of the 11 airlines available to transfer points to, none are based in the United States, and several don't even have service to North America. So there is no way around the fact that these mileage transfer partners are inferior to those offered by its competitors, as far as domestic service is concerned. (See also: 5 Best Credit Cards That Transfer Points to Airline Miles)

Who This Card Is Best For

The Citi Prestige Card is a great product for frequent international travelers who can really take advantage of the features and benefits of a premium rewards card. Those who regularly use the airline lounge club benefits and airline fee credits will find themselves receiving plenty of value in exchange for the $450 annual fee. 

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