Aaron is an avid global traveler and miles and points enthusiast. In addition to writing for Forbes.com, Aaron is a full-time professional advisor to Fortune 500 companies at a global consulting firm.
Aaron Hurd ContributorAaron is an avid global traveler and miles and points enthusiast. In addition to writing for Forbes.com, Aaron is a full-time professional advisor to Fortune 500 companies at a global consulting firm.
Written By Aaron Hurd ContributorAaron is an avid global traveler and miles and points enthusiast. In addition to writing for Forbes.com, Aaron is a full-time professional advisor to Fortune 500 companies at a global consulting firm.
Aaron Hurd ContributorAaron is an avid global traveler and miles and points enthusiast. In addition to writing for Forbes.com, Aaron is a full-time professional advisor to Fortune 500 companies at a global consulting firm.
Contributor Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Written By Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Managing Editor, Credit Cards & Travel RewardsUpdated: May 9, 2024, 11:07am
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The Citi Prestige® Card * is Citi’s premium ThankYou Point-earning credit card, targeted toward business and leisure travelers. The card’s 5 points per dollar rate on spending at restaurants and on air travel categories is generous, and the $250 annual travel credit partially offsets the hefty annual fee. Also nice is that the included Priority Pass Select lounge benefit offers complimentary access for two guests.
The card falls short in its lack of offering behind the headlines. The Citi Prestige card offers no travel insurance or purchase protection benefits common among credit cards carrying a similar annual fee. The Priority Pass lounge benefit may be of limited use to some U.S. domestic travelers and purchase and travel protection benefits common among premium credit cards are missing.
Citi Prestige® Card * Welcome Bonus Annual Fee see your cardholder agreement for current rates Regular APR see your cardholder agreement for current rates Credit ScoreCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
The Citi Prestige is Citi’s play in the market for high-end travel credit cards—similar to the Chase Sapphire Reserve® or The Platinum Card® from American Express (Terms apply, see rates & fees). When compared to other cards in this segment, the Citi Prestige is heavy on rewards, but light on benefits.
Starting with its strengths, the Citi Prestige offers strong earning rates in its bonus categories, which include 5 points per dollar spent on airfare and dining and 3 points per dollar on cruises and hotels. An annual $250 travel credit that is automatically applied to travel and, through December 31, 2022, supermarket and restaurant purchases also count towards the credit.
The Priority Pass Select lounge access provides lounge access for up to two guests in addition to the cardholder and the 4th-night free benefit has the potential to provide outsized value for those who book high-end hotels on ThankYou.com
Where the card falls short is in its glaring omissions of travel and consumer insurance benefits that are common even among mid-tier credit cards. The Citi Prestige card offers no trip cancelation or delay insurance, no lost luggage insurance and no auto rental collision damage waiver. Nor does it offer any purchase protection or extended warranty benefits. The addition of these benefits that are almost table-stakes in the $500 annual fee premium credit card segment would go a long way toward improving the Citi Prestige’s value proposition.
For a $495 annual fee, the Citi Prestige card makes the most sense for someone who spends heavily on restaurants and air travel, values ThankYou Points and does not otherwise have access to airport lounges. For most travelers, however, there are probably more rewarding credit card options out there.
Why you can trust Forbes Advisor
Our credit card editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
The Business Platinum Card® from American ExpressPartner Offer Apply Now →
On American Express's Website Rates & Fees / Terms Apply Welcome Bonus Earn 150,000 points Annual Fee Credit Score Good,Excellent Regular APR 19.49% - 28.49% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
The Platinum Card® from American ExpressPartner Offer Apply Now →
On American Express's Website Rates & Fees / Terms Apply Welcome Bonus Earn 80,000 points Annual Fee Credit Score Good,Excellent Regular APR See Pay Over Time APRCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
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.
The Citi Prestige card earns points in the Citi ThankYou program. In addition to the points you earn with the Citi Prestige card, the ThankYou program allows you to combine points earned across multiple cards, other Citi banking products and even transfer cash back earned from the Citi Double Cash® Card into the program as ThankYou Points.
The Citi Prestige Card earns 5 points per dollar spent at restaurants and on air travel, 3 points per dollar spent on hotels and cruise lines, and 1 point per dollar spent on all other purchases.
In addition, the Citi Prestige Card offers a welcome bonus: N/A.
ThankYou points are a flexible, transferable point currency that can be redeemed for a variety of awards, from gift cards to merchandise to travel and more.
Cash Rewards
Citi ThankYou points can be redeemed toward a cash reward at a value of one-half of one cent per point starting in increments of $50.
Gift Cards
The Citi ThankYou points program offers redemptions for gift cards at a variety of restaurants and retailers, with redemptions starting at 1,000 ThankYou points for a $10 gift card. Citi occasionally runs sales on gift cards for certain brands. Citi also offers redemptions for Happy gift cards, which can be used at a variety of merchants in a category (such as restaurants or home improvement) like a prepaid credit card.
Mortgage and Student Loan Rebates
For cardmembers who have a mortgage or student loans, Citi allows the use of ThankYou points toward these obligations at a value of one cent per point. When you request a mortgage or student loan rebate, Citibank will send you a check which you can forward to your loan servicer. Student loan rebates and mortgage rebates must be requested through the Citi ThankYou call center.
Shop With Points
Citi ThankYou offers a number of ways to shop using your ThankYou Points. At some partners, such as Amazon.com and Best Buy, you can use ThankYou points to pay for your purchase at checkout. ThankYou points can also be used at merchants that use PayPal for checkout. In addition, the Shop With Points option allows you to use redeem for a statement credit to offset previous gas purchases BP/Amoco and Shell.
Using Shop With Points is generally a poor value, offering less than 1 cent per point in value. As an example, at Amazon.com, Citi ThankYou points are only worth 0.8 cents per point at checkout.
Travel Booked Through ThankYou.com
You can book travel, including flights, hotels, cars and cruises through Citi ThankYou using ThankYou points. For most simple itineraries, the Citi ThankYou travel portal will price travel similarly to large online travel agencies such as Expedia or Orbitz. If you do not have enough ThankYou points for your entire booking, you can use ThankYou points to offset a portion of the cost of your trip. With the Citi Prestige card, ThankYou points are worth 1 cent each toward travel bookings.
Transfer to Travel Partners
By far the greatest potential for outsized value in the ThankYou points program comes from the option to transfer ThankYou points to over a dozen airlines and redeem those points for international business class. In particular, KLM often offers phenomenal value because of their periodic sales on award tickets. As an example, in late 2019, KLM was offering one-way flights between Chicago and most of Europe for 26,500 Flying Blue miles in lie-flat KLM World Business Class. Many users of ThankYou points point transfers find great value from Avianca LifeMiles for awards on Star Alliance and Virgin Atlantic for business class redemptions on Delta.
Transfer to Other ThankYou Account
Interestingly, Citibank also lets you transfer up to 100,000 points per calendar year to another person with a Citi ThankYou account. The big caveat here is that the person who receives the points must redeem them within 90 days or lose them altogether. While this fine print may seem restrictive and punishing, having the ability to pool points with a partner, spouse, or family member is a huge benefit and one you won’t find with every other travel credit card.
Using data from various government agencies, Forbes Advisor has developed estimates for how much a family in the 70th percentile of income spends annually in various categories. We base our assumptions on a sole proprietor in this income range. The 70th percentile of wage-earning households brings in $100,172 annually and has $26,410 in expenses that can be charged to credit cards. These figures are used to estimate the potential rewards from this credit card.
The Citi Prestige card earns 5 points per dollar on air travel and restaurants. Our example family spends $1,755 on air travel and $4,406 on restaurants in an average year, which would earn a total of 30,805 Thank You Points.
In addition, the Citi Prestige Card earns 3 points per dollar on cruises and hotels. With an average annual spending of $683 on hotels added to the mix, our family would earn 2,049 points on the 3 points categories.
Finally, if you put all other purchases that can be charged to credit cards on the Citi Prestige card, you could earn an additional 19,566 ThankYou points, for a total of 51,393 ThankYou Points annually in addition to the first-year welcome bonus.
The ThankYou Points program has a wide variety of redemptions that offer 1 cent per point of value, so we’ll assume that one Thank You Point is worth one cent, making the annual points earning worth $514. Of course, if you transfer your points to travel partners and value international business class redemptions, the actual value you receive from your ThankYou point redemptions could be substantially higher.