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Citi Prestige® Credit Card review
Last updated:
Get even more points on air travel and restaurant spending.
- Get this card if you spend heavily on airfare and dining.
- Pick something else if you want accelerated rewards on all travel purchases.
- Apply with a good to an excellent credit score of 670 or higher.
50,000
Points as welcome offer
Up to 5x
Points
$495
Annual fee
17.24% to 25.24%
Purchase APR (variable)
Details
| Product Name | Citi Prestige® Credit Card |
|---|---|
| Card type | Visa |
| Annual fee | $495 |
| Purchase APR | 17.24% to 25.24% variable |
| Balance transfer APR | 17.24% to 25.24% variable |
| Balance transfer fee | $5 or 3% of the transaction, whichever is greater |
| Cash advance rate | 26.74% variable |
| Cash advance fee | $10 or 5% of the cash advance amount, whichever is greater |
| Penalty APR | 29.99% variable |
| Foreign transaction fee | None |
| Interest free period | Up to 23 days |
| Late payment fee | Up to $40 |
| Returned payment fee | Up to $40 |
| Additional cardholder fee | $75 |
Expert review
Review by
Kevin Joey Chen
kevin.chen@findercrew.comKevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order and expertly navigate the cutting-edge financial tools available -- including credit cards, apps and budgeting software.
Expert review
The perks
- Signup bonus: 50,000 ThankYou points.
Earn this after making $4,000 in purchases within the first three months of account opening. According to Citi, this bonus is currently worth $500 toward travel.
- Rewards: Up to 5x points.
Earn a stellar rewards rate of 5x points on air travel and restaurants and 3x points on hotels and cruise lines. You’ll earn 1x points on all other purchases. Note that your accelerated points are excluded from travel categories such as car rentals, trains or taxis — points are only applicable for hotels and cruise lines.
- Travel credits: Up to $250 every calendar year.
Travel credits will be automatically applied to your billing statements when you use your card for eligible travel.This card’s credits used to apply only to air travel. Now, Citi has expanded their application to many more travel categories — including airfare, hotels, car rentals, cruises, taxis and more.
Here’s how the card’s travel credits hold up against those of other premium travel products:
The Chase Sapphire Reserve® Citi Prestige® Credit Card The Platinum Card® from American Express Annual travel credit $300 for eligible travel purchases $250 for eligible travel purchases $200 for airline incidental fees only - Airport lounge access: Over 1,200 airport lounges worldwide.
You’ll have access to these lounges when you receive a complimentary Priority Pass Select membership.
Is the annual fee worth it?
Is the $495 annual fee for the Citi Prestige® Credit Card worth it?
First, let’s look at its rewards
According to Citi, ThankYou points are worth 1 cent each when redeemed for eligible travel. You’d need 49,500 points to break even on the card’s annual fee with rewards alone.
That’s $9,900 spent on air travel or restaurants, $16,500 on hotels or cruise lines or $49,500 on other purchases.
Luckily, you don’t have to rely on spending alone to get value from it.
The Citi Prestige® Credit Card boasts other valuable features
| Benefit | Estimated annual value |
|---|---|
| Complimentary fourth night stay | $500 |
| Priority Pass Select membership | $429 |
| Annual travel credit | $250 |
| Global Entry or TSA PreCheck application fee credit | $20 |
This adds up to $1,199 in annual value, which comfortably exceeds the card’s annual fee. This doesn’t even include the card’s travel or purchase protections.
You’ll also like …
- Complimentary fourth-night hotel stay on eligible bookings.
Get a fourth night free reward when you book a hotel stay of at least four consecutive nights through Citi’s ThankYou portal.Take advantage of this benefit now. Starting September 1, 2019, it’s only valid for a maximum of two times per calendar year.
- Global Entry or TSA PreCheck application fee credit
Pay for your Global Entry or TSA PreCheck application with your Citi Prestige® Credit Card, and you’ll receive a statement credit. You’ll receive one credit every five years.A Global Entry or TSA PreCheck membership lasts five years. Some travel cards offer an application credit every four years, which might help if you want to re-apply before your membership expires.
Global Entry vs. TSA PreCheck: Which should you apply for?
- No foreign transaction fees.
Use the Citi Prestige® Credit Card abroad without incurring transaction fees on your purchases.
- Point transfers.
You can mostly transfer your at a 1:1 ratio to 16 airline and retail partners. This can help you get higher than a 1-cent-per-point value for your rewards.
Citi Prestige® Credit Card transfer partners
Almost every Citi airline transfer partner offers a regular transfer ratio of 1:1.
Citi may offer promotional transfer ratios. In February 2019, for example, Citi cardholders could transfer 1,000 ThankYou points for 1,250 miles in Turkish Airlines’ Miles & Smiles program.
As of this writing, the only program in which you’ll receive less than a 1:1 ratio is JetBlue TrueBlue. Convert 1,000 ThankYou points to 800 TrueBlue points.
Citi’s airline transfer partners
Citi is missing a major domestic-airline transfer partner, such as Delta, United or American. However, it has a strong stable of international-airline transfer partners.
- Turkish Airlines Miles & Smiles.
- Asia Miles.
- Avianca LifeMiles.
- Etihad Guest.
- Eva Air.
- Flying Blue.
- Garuda Indonesia.
- JetBlue TrueBlue.
- JetPrivilege.
- Malaysia Airlines Enrich.
- Qantas Frequent Flyer.
- Qatar Privilege Club.
- Singapore Airlines.
Citi’s shopping partner
You can transfer your points at a 1:12 ratio to Shop Your Way, the loyalty program for Sears and Kmart.
- Travel and purchase protection.
Enjoy insurance for lost baggage, delayed baggage, trip cancellation, trip interruption and car rentals. Also, receive purchase protection, extended warranties and Price Rewind on eligible purchases.With Price Rewind, Citi will look for lower prices on purchases you’ve made with your card. If it succeeds, it will refund you the price difference.
Citi will send coverage details if you’re approved for the card
What to watch out for
- Annual fee: $495.
Here’s how this annual fee stacks up against the costs of other premium travel cards:
| The Chase Sapphire Reserve® | Citi Prestige® Credit Card | The Platinum Card® from American Express | |
|---|---|---|---|
| Annual travel credit | $450 | $495 | $550 |
- Penalty APR: 29.99% Variable.
If you make a late or returned payment, Citi may apply the penalty APR to all of your balances indefinitely.
Compare travel rewards cards
Compare Citi Prestige® Credit Card with other cards
What should I know before I apply?
You can apply for the Citi Prestige® Credit Card if you:
- Are at least 18 years old.
- Have a valid Social Security number or Individual Taxpayer Identification Number.
Required information
- Full name.
- Date of birth, Social Security number and citizenship status.
- Home address.
- Primary phone number and email address.
- Total annual income and monthly mortgage or rent payment.
What credit score do I need?
You’ll have a better chance of approval for the Citi Prestige® Credit Card if you have a good to excellent credit score of 670 or above.
What do customers say about the Citi Prestige® Credit Card?
Some longtime customers say Citi has devalued their points over the years. Consider spending your rewards consistently to avoid this.
Other customers say they have put the card’s fourth-hotel-night privilege to good use, and they’re disappointed that Citi will cap the benefit in September 2019.
Citi is not accredited by the Better Business Bureau (BBB), and it has an F rating from the agency. Out of 133 customer reviews, it has an average rating of one star out of five.
The bank has over 3,600 customer complaints as of March 2019. Most of them have been answered or resolved, according to the BBB.
How to apply for the Citi Prestige® Credit Card
- Navigate to the Citi Prestige® Credit Card page and click Apply now.
- Complete the application with details such as your full name, date of birth, Social Security number, contact information and financial information.
- Review your details and submit your application.
I got the card. Now what?
- Activate your card and register an online account. You can start using your card immediately after activation.
Make an online account to view your balance any time and pay your bills. Consider setting up automatic payments to avoid late fees. - Avoid late and returned payments. These may saddle you with a penalty APR of 29.99% variable on all of your balances.
- Contact customer service. Call the number on the back of your card to reach Citi support. If you don’t have your card, call 800-950-5114.
You can also log in to your Citi account to chat with support.
How do I redeem miles from the Citi Prestige® Credit Card?
Go to Citi’s ThankYou Rewards portal to redeem your points. Log in with your Citi account.
Here are a few redemption options:
- Travel, such as flights, hotels, car rentals and cruises
- Gift cards
- Shop with points at places such as Amazon, Expedia and Best Buy
- Statement credit
- Online bill pay
- Point transfers
- Cash rewards
- Charitable contributions
According to Citi, travel redemptions give you a 1-cent-per-point value. Gift cards typically give you the same value. With other redemption options, you may receive a lower value.
Bottom line
The card’s best new change is the accelerated points on air travel and dining. These are truly market-leading rewards.
Unfortunately, the card’s fourth-night-free benefit will be capped to two uses per year in September 2019. But you can still leverage it as much as you want until then, and the card boasts other luxury travel features.
If you’re not sure the Citi Prestige® Credit Card is right for you, compare other travel credit card options.