Citi ThankYou Preferred Card

Information verified correct on March 25th, 2017

If you’re looking for a rewards credit cards with no

annCitiBusiness ThankYou® Cardual fee, then you may want to consider the

Citi ThankYou Preferred Card.

The Citi ThankYou Preferred Card is a rewards card launched by Citibank and comes with a competitive interest rate. You do not need to pay an annual fee and you will be rewarded for spending on the card. This credit card is suitable for those who want to earn reward points when using their credit cards for purchases.

Sign-up bonus points offer

You can earn 20,000 bonus points (worth $200 in gift cards) after making $1,500 in purchases within the first 3 months of account opening.

Things to consider with the Citi ThankYou Preferred Card

Product NameCiti ThankYou Preferred Card
Rewards ProgramThankYou Rewards
Balance transfer rate (p.a.)0% p.a. for 12 months with $5 or 3% fee of the amount of each balance transfer, whichever % balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (12.99% p.a.)
Maximum Balance Transfer AmountTotal amount of balance transfers must be less than available credit limit.
Purchase rate (p.a.)0% p.a. for 12 months (reverts to 12.99% p.a.)
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 23 days
Cash advance rate (p.a.)25.24% p.a.
Card TypeMasterCard
Late Payment Fee$35
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel Insurance CoverN/A
Available To Temporary ResidentsNo
Joint ApplicationNo

Annual fee$0Returned payment feeUp to $35
Balance transfer fee$5 or 3% of the transfer amount, whichever is greaterForeign transaction fee3% of every purchase transaction in US dollars
Late payment feeUp to $35Interest rate on purchases0% p.a. introductory APR for 15 months from date of account opening. Thereafter, your APR will be 13.24% to 23.24% p.a based on your credit rating.
Returned payment feeUp to $35Interest rate on cash advances24.24% p.a.
Cash advance feeEither $10 or 5% of the amount, whichever is greaterPenalty interest rate when it appliesUp to 29.99% p.a. according to your credit rating

Features of Citi ThankYou Preferred Card

  • Interest rates. You will receive a standard variable interest rate on purchases of 12.99% p.a. to 23.24% p.a. based on your credit rating and decided upon application.
  • No annual fee. This Citi credit card does not have an annual fee so you can get more out of your rewards.
  • Balance transfer offer. This card also a balance transfer offer of 0% p.a. for 12 months. After this period the rate will revert to the interest rate for purchases. Please note that there is a fee for balance transfers.
  • Sign-up bonus. If you are a new cardholder, you can earn up to 20,000 ThankYou points when you spend $1,500 within the first three months of opening an account.
  • Earn reward points for purchases. You will earn 2.00 points for each dollar spent on dining and entertainment. Each dollar spent on other purchases will earn you 1.00 reward point. You can accumulate unlimited number of points and they will not expire.
  • Redeem points. Cardholders have access to a range of redemption options, including electronics, travel rewards, home equipment, charitable donations, and cash back.
  • 24/7 access to your account. Check your balance, view transactions, and make payments on the go anytime, anywhere.
  • Additional cardholders. It’s easy to add additional cardholders and share the one account, just call the number on the back of your card and allow up to three weeks for it to arrive.
  • Travel insurance benefits. Having the Citi ThankYou ®Preferred Card will entitle you to receive lost luggage coverage, trip cancellation and trip interruption insurance, emergency evacuation and transportation coverage, and travel assistance services.
  • Retail purchase protection. Items purchased using this credit card are eligible for protection against fire, theft, or accidental damage of up to $1,000 for up to 90 days from the date of purchase.
  • Price protection. This can give you fewer worries for overpaying on some items. If you purchase an item using Citi card and in a span of 60 days it is available for less, you may be eligible to receive a refund of the difference—up to $250.
  • Extended warranty. Making purchases with Citi ThankYou ®Preferred Card extends the initial manufacturer’s U.S. warranties (of one year or less) by up to another more year.

How to apply for Citi ThankYou Preferred Card

To be eligible to apply for a Citi ThankYou ®Preferred Card, you must fulfill the following conditions.

  • You must be at least 18 years of age
  • You must have a good credit rating
  • You must have a valid Social Security Number

If you meet the eligibility criteria and you want to apply for the Citi ThankYou Preferred Card, then you can find out more and apply online. You will then be redirected to the Citi ThankYou Preferred Card website where you will be able to apply for the card by providing all the necessary information. It will take you about 10 minutes to complete the application process.

You’ll need to give the following information before completing your application:

  • Personal information, including your name and date of birth
  • Contact information including: your address, phone number, and email address
  • Social Security Number
  • Employment and financial information including: your annual salary & wages, and monthly mortgage or rent payment
  • The type of bank account you currently have
  • You’ll also have to agree to abide by the terms and conditions of the Citi ThankYou Preferred Card.

Frequently asked questions

Is this card accepted globally?

You will have global acceptance and enhanced security thanks to the EMV Chip Technology.

What determines whether a merchant falls within a particular rewards category?

Merchants who accept Visa or MasterCard credit cards are assigned a merchant code which classifies them based on the primary line of business and the type of products and/or services they sell.

Is there a limit to how many points I can earn with this card?

No, there is no limit, to the amount of ThankYou® Points you can earn. Your points also have no expiration date.

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