The credit card business continues to be more competitive than actually the last few years, top card issuers like Chase, American Express, and Citi to arrive up with new offerings plus spice up old ones. The goal, as always, is in order to enhance their market share and their particular profits, which none of all of us can blame them for.
While the Citi PrestigeÂ®Â Credit Card was inexplicably unavailable to brand new applicants for a good component of 2018, itâs now back again on the market with the new range of perks plus benefits that are easier in order to access. A lucrative signup reward, exceptional earning categories, and the flexible travel credit also enhance the pot.
Should a person sign up for the brand new Citi PrestigeÂ®Â Credit Card? Keep reading through to learn concerning this cardâs brand new set of benefits and exactly how this stacks up to competing credit cards.
Citi PrestigeÂ®Â Credit Card: Key Takeaways
- Earn points rapidly. The new version of this particular card offers exceptional bonus types that may make earning points the breeze. Obviously, earning 5x factors on flights and dining will be huge.
- The register bonus has returned. Currently, you may earn a healthy 50, 000 points after you sign upward and spend $4, 000 upon your card within three a few months of account opening.
- Get a flexible travel credit score. Where the old edition of this card offered a good annual credit just for particular airfare expenses, this new edition extends the $250 credit in order to any type of travel. That makes it more competitive along with the Chase Sapphire ReserveÂ®.
Move Over, Chase Sapphire ReserveÂ®! A New Travel Credit Card Is Ready to Compete
When the Chase Sapphire ReserveÂ® (currently not available through this site) hit the particular scene a couple of years ago, it has been hard to imagine another credit card keeping up. After all, the particular Reserve came out of the particular gate using a big signup reward, a flexible travel credit a person could use for any take a trip expense, a Priority Pass Select membership, and 3x points upon all travel and dining buys.
While the Citi PrestigeÂ®Â went dormant for new signups with regard to a part of 2018, the new functions it was released with within early 2019 make it the real contender as the best travel charge card available today. For some consumers, this card can help them earn significantly more factors over time, leading to â? you guessed it â? a lot more free travel in the finish.
It all starts along with the Citi PrestigeÂ®Â 5x bonus types, which include air travel plus restaurants. You also get several points per $1 spent upon hotels and cruises and one point per dollar on almost all other purchases. Itâs easy to understand just how someone who spends a great deal on travel and dining away could benefit, and that doesnât even take into account the particular initial signup bonus you may earn right away.
We also love that the $250 annual travel credit on this particular card has been extended in order to cover any travel purchase. With the old version from the credit card, you could only use this for airfare purchases. That produced it a lot less flexible and important for the average consumer, yet pretty much anyone may use a good annual $250 credit thatâs great for any type of travel.
Other benefits include a Priority Pass Select airport lounge regular membership, and a fourth-night-free hotel advantage. Keep in mind, nevertheless , that will the fourth-night-free benefit can just be applied twice per year beginning Sept. 1, 2019.
But the real power in leading travel credit cards like here is within their flexibility. Like other leading travel credit cards, Citi ThankYou Rewards cards like the Citi PrestigeÂ®Â let you transfer points in order to airline and hotel partners. Current Citi transfer partners include:
- Turkish Airlines
- Asia Miles
- Etihad Guest
- Eva Air
- Air France/Flying Blue
- Garuda Indonesia
- Jet Privilege
- Malaysia Airlines
- Qatar Privilege Club
- Singapore Airlines
- Thai Royal Orchid
- Virgin Atlantic
You also have got the option of redeeming Citi ThankYou points directly with the Citi travel portal. This portal allows you book airfare, hotels, actions, cruises, and more using your own points or perhaps a combination of factors and cash. Also note that will you can cash in Citi ThankYou points for merchandise plus gift cards, although youâll obtain lower than one cent in worth per point if you perform.
In summary, the brand new Citi PrestigeÂ®Â has a lot to provide consumers â? but particularly types who spend a lot upon travel or dining, or make use of Citi transfer partners frequently. There are also lots of travel benefits you can take advantage associated with every year, giving this card the boost in value over almost all.
Citi PrestigeÂ®: Where It Falls Flat
Almost anyone can benefit from the Citi PrestigeÂ®, but itâs still important in order to remember that it comes with the hefty $495 annual fee that will is not waived the very first year. Regardless of the benefits and how lucrative they are usually, there are plenty of individuals who wonât pay $495 for each year to keep a credit score card, regardless of what.
In inclusion to the elevated annual charge letting people down, some Citi PrestigeÂ®Â enthusiasts were also disappointed in order to find out that the brand new version of this card limitations the fourth-night-free benefit to simply twice per year. This can make the card a lot much less valuable for individuals who took advantage associated with that perk frequently.
Another downside of the Citi PrestigeÂ®Â is in their transfer partners. While some of their programs, such as JetBlue and Flying Blue, are usually widely used by American tourists, most of their transfer companions are fairly obscure and considerably from popular with the American market.
One final toe nail within the coffin for this cards is the fact that, right after September 2019, Citi ThankYou factors redeemed for air travel by means of the Citi portal are just worth one cent each (instead of their current associated with one. 25 cents apiece when redeeming for airfare). You buy simply 1 cent per point within value when you redeem with regard to hotels and other travel by means of the portal. This puts the particular Citi PrestigeÂ®Â at a distinct benefit when compared to the Chase Sapphire ReserveÂ®, which lets a person redeem points for travel with regard to one 5 cents each within the Chase Ultimate Rewards portal.
Who This Card Is Good For:
- Consumers who can use Citi transfer partners with ease.
- Anyone spends a great deal on surroundings travel and dining and desires to earn 5x points for every dollar they spend.
- Frequent travelers who could benefit through a travel credit or Priority Pass Select membership.
Who Should Pass:
- Consumers who want to make rewards without a large yearly fee.
- Frequent travelers who else donât like Citiâs collection of flight partners.
- Anyone who wonât use the perks this credit card offers.
How Does It Compare to Other Travel Credit Cards?
Weâve mentioned previously how the Citi PrestigeÂ®Â is comparable to the Chase Sapphire ReserveÂ®, but we desired to break lower all the features further within a chart. We also threw within a comparison to the Chase Sapphire PreferredÂ® Card â? a well known Chase travel credit credit card that offers a less powerful selection of perks to get a reduced annual fee.
The graph below shows how each one of these credit cards compares in terms of their particular fees, earning structure, and advantages:
|Â||Citi PrestigeÂ®||Chase Sapphire ReserveÂ®||Chase Sapphire PreferredÂ® Card|
|Annual Fee||$495||$450; each authorized user: $75 each year.||$0 Intro with regard to the First Year, then $95|
|Annual Travel Credit||$250||$300||No|
|Earning Structure||5x points upon air travel and restaurants; 3x points on hotels and cruise trips; 1x points on all some other purchases||3x points on take a trip and dining; 1x points upon all other purchases||2x factors on travel and dining; 1x points on all other buys worldwide|
|How in order to Redeem for Travel||Book take a trip with the Citi portal for a single cent per point after September 2019 (1. 25 cents for each point on airfare until then); transfer 1: 1 to Citi transfer partners||Book travel by means of the Chase Ultimate Rewards take a trip portal for 50% more worth, or transfer points to take a trip programs at 1: 1||Book travel through the Chase Ultimate Rewards travel portal for 25% more value, or transfer factors to travel programs at one: 1|
|Airport Lounge Access||Yes||Yes||No|
As you may see, all three cards provide unique and lucrative earning constructions. However, the Chase Sapphire PreferredÂ® Card does arrive with a much lower yearly fee in exchange for the less enticing package of advantages.
Want Another Option? Consider This Card
If the concept of earning different levels associated with points on different purchases frightens you off, you might would like to look into a credit card that maintains the same making and redemption structure no issue what. The Capital OneÂ® VentureÂ® Rewards Credit Card is the solid option since it enables you to earn 2x miles on every thing you purchase. On the redemption part from the equation, you can money in your miles for any kind of type of travel for a single cent each.
Also note that, as of 2018, the Capital OneÂ® VentureÂ® Rewards Credit Card added 14 brand new transfer partners with either the 2: 1 or 2: one 5 transfer ratio. With that will in mind, you can move points using this card to the particular following airlines in case you donât would like to redeem them the old-fashioned way.
2: 1 Transfer Ratio:
- Singapore Airlines
2: one five Transfer Ratio:
- Air Canada (Aeroplan)
- Air France & KLM (Flying Blue)
- Cathay Pacific
- EVA Air
- HainanÂ Airlines
- Qatar Airways
The Bottom Line
If youâre in the marketplace for a brand new travel credit card, itâs sensible to compare several options in order to see which ones fit your own needs and spending style. You may find that the premier take a trip credit card with a large annual fee gives you the particular most value, but itâs furthermore possible a typical travel credit credit card or a cash-back credit card could depart you better off.
The refreshed Citi PrestigeÂ®Â is better compared to ever, but itâs mostly suitable to frequent travelers who are able to obtain superior value out of the earning structure and redemption choices.
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