Citi Introduced Two New ThankYou Rewards Cards

Citibank has recently introduced to brand new rewards credit cards, the Citi ThankYou Preferred Card and the Citi ThankYou Premier Card. Both cards rewards card members with ThankYou Rewards Points for using the card on everyday purchases, though at different levels, and they both offer incentives for applying for the new cards. The big difference between them is that the Preferred Card has no annual membership fee while owning the Premier Card will cost you $125 per year.

With the Citi ThankYou Preferred Card, you are able to earn 1 ThankYou Point for very dollar spent. However, for new cardholder in the first 12 months, the rewards is 2 ThankYou Points per dollar. Plus, there’s no limit on the number of rewards points you can earn and earned points will not expire as long as you charge the card at least once in the 12 months period (it’s also good to keep the card alive so it won’t get canceled by the issuer). The Preferred Card has no annual fee and it offers new cardholders a 0% intro APR on purchases and balance transfers for 12 months (you do, however, have to pay balance transfer fee).

If you are interested in this card, you can get it now and receive 6,000 bonus ThankYou Points (redeemable for a $50 gift card) after spending $300 in the first three months of becoming a cardholder.

As for the Citi ThankYou Premier Card, the rewards program is better, but as mentioned above, the extra benefits come with a price that many people may not want to pay (I definitely won’t). The Premier Card lets you earn 1.2 ThankYou Points for purchases at gas stations, supermarkets, and drugstores as well as 1 ThankYou Point for every $1 spent on all other purchases. So basically you will be able to earn 20% more rewards points for shopping at gas stations, supermarkets and drugstores, but to get that additional benefits for those three categories, you will have to pay $125 annual fee. Worth it?

Like the Preferred Card, you can also earn unlimited rewards points with the Premier Card and the points never expire and there’s no once-a-year-purchase requirement.

While the Premier Card is expensive to own, it does offer a better initial bonus for new cardholders. If you can spend $1,000, which is also more than the Preferred Card required for bonus, in the first three months of membership, then you will be able to earn 20,000 ThankYou Points as bonus, which can be redeemed for a $200 gift card.

Maybe you can get the Premier Card, spend $1,000 in 3 months, receive the $200 bonus, and then cancel the card and pocket $75 profit

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Original Post on The Sun’s Financial Diary

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Citi Introduced Two New ThankYou Rewards Cards

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