A long 0 percent introductory period and generous rewards make this card an attractive choice for people with good credit.
This post comes from Logan Abbott, editor of the credit cards section of MyRatePlan.com.
A couple of months ago, I reviewed the Citi ThankYou Card. This week, I’m taking a look at the Citi ThankYou Preferred Rewards Card. The ThankYou Preferred Rewards Card is very similar to Citi’s ThankYou Card, but it is geared toward cardholders with better credit, so it comes with additional benefits.
- Big bonus up front. Cardholders earn 15,000 bonus ThankYou Points after spending $1,000 on purchases in the first three months they have the card. This bonus is the equivalent of $150 in gift cards or other merchandise.
- No annual fee. There’s no annual fee to use the card.
- Zero-percent intro APR on purchases and balance transfers. The card comes with a 0 percent introductory APR on purchases and balance transfers for 12 months. After the 12 months are up, a variable APR of between 12.99 percent and 22.99 percent applies, based upon your creditworthiness.
- Citi ThankYou Rewards Points. Cardholders earn 1 ThankYou Point for each dollar spent on purchases. ThankYou Points can be redeemed for merchandise, travel, gift cards, movie tickets and more. There is no expiration date and no limit on the points that can be earned.
- Earn extra by shopping with Citi. Cardholders earn extra points when they shop through the Citi ThankYou Bonus Center, which is a network of more than 600 popular retailers.
- Earn a ThankYou Points anniversary bonus each year. Citi awards cardholders with an anniversary bonus in the form of ThankYou Points each year. The bonus is calculated as a percentage of the ThankYou Points earned throughout the year and increases annually until the third year, when it stays at 3 percent. The anniversary bonus point schedule is outlined in the table below.
|Membership Year||Anniversary Bonus|
- No bonus rewards categories. The card is an all-around great card, so I’m reaching here: The card doesn’t offer bonus rewards for shopping in certain categories. The Discover it Card, for example, offers 5 percent cash back on purchases made in rotating categories throughout the year.
- Balance transfer fee. Although the card offers a favorable 0 percent introductory APR period on balance transfers, you are still subject to a fee of 3 percent of the balance if you do decide to transfer a balance.
Get it if: You have excellent credit and want a versatile shopping rewards program, as well as a long 0 percent introductory period on balance transfers and purchases.
Forget it if: You have poor credit, or you want a card that offers better rewards in certain niche categories.
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