Citi Prestige® Card review

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Citi Prestige Card Review: More Details

Earlier this year, the Citi Prestige card relaunched after being closed to applications for several months, ushering in several changes. The biggest update was a huge draw for foodies – a new bonus category offering 5 points per dollar on dining purchases.

But that’s not the only great benefit that comes with the card. Frequent travelers can also enjoy a great rate on travel purchases and a more flexible travel credit. Plus, travelers who enjoy luxury perks like lounge access can get great value out of the card by taking full advantage of its benefits. For example, the card comes with a fourth night free at any hotel up to two times per year – which can save smart spenders hundreds on longer vacations.

Unfortunately, the card also comes with an increased annual fee of $495, putting it out of reach for more moderate spenders.

Sign-up bonus

The Citi Prestige card is currently offering new cardholders 50,000 points if they spend $4,000 in the first three months. This is a decent sign-up bonus, but not the highest you can find among travel cards – especially with such a high annual fee. If you redeem your ThankYou points for travel, this introductory offer is worth around $500.

The Chase Sapphire Reserve®, for comparison, offers new cardholders 60,000 points for spending $4,000 in the first three months. Due to a higher point value, this bonus is worth $900 toward travel redeemed through Chase Travel℠ portal.

Earning points

Thanks to a generous rate on dining and air travel purchases, earning points on the Citi Prestige is simple. In fact, the Citi Prestige is currently offering the highest rewards rate currently available on restaurant purchases – 5 points per dollar. This makes it a great choice for foodies and especially travelers who enjoy eating out while they vacation.

In addition to a top-tier dining rate, the Citi Prestige offers 5 points per dollar on air travel, 3 points per dollar on hotels and cruise lines and 1 point per dollar on other purchases. This rate makes it easy to earn points on most travel purchases – though it is not the most inclusive travel card available. Purchases like ride-share rides, parking garages and train fares will only earn 1 point per dollar.

What are Citi Prestige points worth?

Unfortunately, the Citi Prestige card no longer offers a higher point value for redeeming your ThankYou points for travel purchases. That means that the most value you’ll be able to get out of your points is 1 cent per point. This has a big impact on the overall earning potential of the Prestige card, despite a high rewards rate.

See Related: Earning and using Citi ThankYou points

Since many travel cards offer a higher point value when redeemed a certain way, they can earn more in rewards value for every dollar you spend – even with a slightly lower earning rate. Here’s a quick look at some of our most popular travel cards and what we estimate you can earn per dollar of spending (factoring average earning rate and point value):

As you can see, the Citi Prestige ranks below many other travel cards in average rewards value earned. However, it does come with a few travel perks that can help add to the card’s value.

Redeeming Citi Prestige points

Once you’ve racked up ThankYou points with the Citi Prestige card, there are several different ways you can choose to redeem them. Travel booked through the ThankYou Rewards center gets the most value out of your points, while other options might not be quite as valuable.

Citi Prestige redemption options

As you can see, opting for cash rewards sacrifices half the value of your points. To get the most out of your ThankYou points, we recommend saving them for flight bookings.

Transferring points

In addition to the standard redemption options, Citi Prestige cardholders can transfer their points to several travel partners at a 1:1 rate. Since many airline miles are worth more than 1 cent per mile, this can be a great option to stretch your points.

Unfortunately, there are no major airlines on the list, and domestic flights are particularly limited.

Fourth night free benefit

One of the most popular perks that comes with the Citi Prestige card is the fourth night free, which lets cardholders receive a free night on stays of four nights or longer at any hotel booked with the card. This is an incredibly valuable offer, even considering that Citi caps the usage on it at two times per year. Travelers who use their fourth night free strategically can save hundreds of dollars with the perk.

Priority Pass lounge access

Another plush benefit that comes with the Citi Prestige is Priority Pass Select membership – which grants access to more than 1,200 airport lounges, restaurants and Minute Suites around the globe. Plus, cardholders can bring up to two complimentary guests on each visit.

See Related: Guide to Priority Pass lounges

If you are hoping to bring the entire family into Priority Pass lounges, keep in mind that authorized users of your Citi Prestige card can enroll in their own Priority Pass access – and bring their own guests. While there is a $75 fee per year for each authorized user, this is a great way to save on food, Wi-Fi and more while traveling, even with the whole family.

Travel credit

When the Citi Prestige card updated earlier this year, one major change was to increase the flexibility of the card’s travel credit. Each calendar year, cardholders can receive statement credits up to $250 to cover any travel purchase – including airfare, hotel stays, subway rides, ride-share services, parking garages and much more. Any time you make a qualifying purchase, you will automatically receive a statement credit to cover the cost – until you meet your full $250.

Pairs well with the Citi Double Cash® Card

While the Citi Prestige card offers a great rewards rate on air travel, restaurants, hotels and cruise lines, it’s not an ideal card for everyday spending. To maximize your rewards, consider pairing with the Citi Double Cash® Card, which offers a terrific 2 percent cash back rate on all purchases with no annual fee (you earn 1 percent when you buy and 1 percent when you pay off your purchases).

With the Double Cash Card, you’re not limited to receiving your rewards as cash back. You can convert cash back to ThankYou points at a rate of $1 cash back to 100 ThankYou Points, which is effectively a 1:1 rate. This is great news, as the Double Cash card’s 2 percent cash back rate gives you an effective earning rate of 2 ThankYou points per dollar on all purchases, not just those related to travel and dining.

Other benefits

The travel protections that come with the Citi Prestige card are just a few of the great perks the card offers. You’ll also receive perks that can save you money while shopping.

• Purchase protection – If an item you purchase with your Citi Prestige is damaged or stolen in the first 120 days, you can be covered up to $10,000 per item (max $50,000 per year).
• Extended warranty – Add an additional 24 months to eligible manufacturer’s warranties of five years or less.
• Global Entry/TSA Precheck credit – You can be reimbursed up to $100 for your application fee for Global Entry/TSA Precheck.

Citi Prestige vs. Citi Premier – (The Citi Premier Card is no longer available)

If you are eager to start earning ThankYou points – but hesitant to pay such a high annual fee – Citi offers another travel card at a much lower price point. The Citi Premier® Card charges an annual fee of $95 and offers a 60,000 point sign-up bonus to users who spend $4,000 in the first three months.

See Related: Citi Prestige Card vs. Citi Premier Card: Which is best for you?

On the downside, the Citi Premier comes with a much lower earning rate. The card earns 3 points per dollar spent at restaurants, supermarkets, gas stations, hotels and on air travel. It earns 1 point per dollar spent on other purchases. If you are focused on earning the best dining and air travel rewards, the Citi Prestige easily outpaces the Premier, even with a lower point value.

Customer experience

Among major credit card issuers, Citi’s customer experience falls in the middle of the pack. In J.D. Power’s 2020 customer satisfaction survey, the bank scored 801, ranking sixth out of 11 issuers. On the plus side, Citi does offer 24/7 customer service, including an online chat feature. The bank’s app also receives decent reviews – rating 4.6 out of 5 in the Google Play Store and 4.9 out of 5 in the Apple App Store.

Approval odds

The Citi Prestige card is designed for users with excellent credit (above 740), so you’ll want to ensure you meet those qualifications before you apply. Additionally, you won’t be eligible for the card’s sign-up bonus if you’ve received a bonus for or closed a Citi Rewards+® Card or Citi Premier card (The Citi Premier Card is no longer available) in the last 24 months.

How does the Citi Prestige card compare to other luxury travel cards?

The Citi Prestige offers some great travel perks to offset a high annual fee, including a fourth night free at any hotel twice per year and a flexible travel credit. However, it might not be the best option for every cardholder. Here’s a quick look at a few luxury travel card alternatives:

The Platinum Card® from American Express	Chase Sapphire Reserve®	American Express® Gold Card
Rewards rate Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year. Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® points on general purchases	Rewards rate Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠. Earn 5x total points on flights through Chase Travel℠. Earn 3x points on other travel and dining. Earn 1 point per $1 spent on all other purchases.	Rewards rate Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. Terms Apply
Welcome bonus Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.	Welcome bonus Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.	Welcome bonus Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Annual fee $695	Annual fee $550	Annual fee $325
Other things to know Priority Pass lounge access $120 Global Entry statement credit every 4 years or up to $85 TSA Precheck statement credit every 4.5 years Up to $200 in Uber Cash per year for U.S. rides and eats (Terms Apply). Add your Amex Platinum Card to your Uber account and redeem with any Amex card Up to $200 in statement credits per year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through American Express Travel (when you pay with your Platinum Card; minimum two-night stay required) Hilton Honors gold status (enrollment required) Terms apply	Other things to know 50% higher point value when redeemed for travel through Chase Travel℠ $300 annual travel credit Up to $120 credit for Global Entry/TSA PreCheck Priority Pass lounge access Primary car rental insurance	Other things to know Up to $120 in dining credits at participating restaurants Up to $120 in Uber Cash per year ($10 per month, add your Amex Gold to your Uber account and redeem with any Amex card.) $100 hotel credit for stays with The Hotel Collection Free ShopRunner membership Terms apply

The Platinum Card from American Express

The Platinum Card from American Express is one of the most expensive luxury cards on the market, but it also comes loaded with some of the most luxury perks offered by a rewards card. Platinum cardholders receive extensive lounge access, including Priority Pass Select membership and access to plush Centurion lounges.

See Related: Citi Prestige vs. The Platinum Card® from American Express

Platinum cardholders also receive several yearly credits – such as up to $200 in statement credits per calendar year for incidental charges on a selected qualifying airline (enrollment required) – that can help make up for the card’s annual fee.

Chase Sapphire Reserve

One of our most popular travel cards, the Chase Sapphire Reserve comes with an incredibly flexible $300 travel credit. Similar to the credit on the Citi Prestige, Reserve cardholders can receive statement credits to cover purchases like ride-shares, parking garages, bus tickets and much more. Additionally, the Reserve card offers a 50 percent higher point value on travel redemptions through the Chase Travel℠ portal.

See related: Citi Prestige vs. Chase Sapphire Reserve

American Express Gold Card

The Amex Gold card is another top rewards card among foodies, thanks to its generous rewards rate on both worldwide restaurant and U.S. supermarket purchases. While the card offers a slightly lower rewards rate on dining out than the Citi Prestige, it comes with a much lower annual fee of $325. Unfortunately, the travel benefits on the Gold card are much more limited. Most notably, you won’t receive any sort of lounge access.

Who should get the Citi Prestige card?

• Frequent travelers who will take advantage of a flexible travel credit.
• Travelers who frequently stay at a hotel for four nights or longer.
• Cardholders seeking lounge access.
• Cardholders who spend a significant amount on dining purchases.

How to use the Citi Prestige card:

• Redeem your ThankYou points for airfare to get the best value.
• Consider adding an authorized user ($75 annual fee per user) to grant them the same benefits, including lounge access.
• Charge all restaurant and travel purchases to the card to take advantage of bonus points and the annual travel credit.
• Pay for hotel stays of four nights or longer with your card to take advantage of a fourth night free twice per year.

Is the Citi Prestige worth it?

The Citi Prestige card comes with a hefty annual fee, but if you spend a good amount on dining and are a frequent traveler – especially if you often book hotel stays of four nights or longer – you can leverage the card to earn rewards and save hundreds on travel-related expenses every year.

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