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With so many travel cards to choose from, figuring out which one is best for you might take some work. Fortunately, we've done the legwork to find the pros and cons of cards like the Citi Prestige® Card to help you narrow down your choices.
Part of the ThankYou Points-earning family of cards, the Prestige Card is Citi's premium ThankYou travel card. It comes with a hefty annual fee, though, and it's no longer available to new applicants. So should you hang onto this card? Let's take a look.
Great Points Potential
The Prestige Card isn't available to new applicants or to product changes from other Citi credit cards. However, you still can earn points from your purchases.
With the Citi Prestige® Card, you'll earn 5X points on air travel and at restaurants, 3X points at hotels and on cruise line purchases, and 1 point per dollar on all other purchases.
Great Travel Rewards
Where the Prestige Card really stands out is in the rewards category. Redeeming your rewards is simple and flexible. You can redeem your points for cash back, gift cards, and merchandise, or for fantastic travel through their online portal or by transferring your points out to their travel partners.
The best way to maximize your points is by using them for travel rewards. Because they never expire (as long as you hold the card), and there is no limit to the points that you can receive, those who are big spenders and frequent travelers will get the most out of the Citi Prestige® Card.
Redeeming ThankYou Points for Travel
The Citi Prestige® Card offers cardholders a way to transfer ThankYou Points to multiple travel partners and redeem them through the Citi ThankYou Travel Portal. Points can be redeemed for airfare for 1 cent per point.
But you can get even more value from transferring your ThankYou Points to one of Citi's 18 hotel and airline partners. Singapore Airlines is a popular choice since it boasts a top premium economy, business class, and Suites class service. Once you have transferred your points to Singapore Airlines, you can also use your Singapore Krisflyer miles for any Star Alliance airline flights, since they are partners. United Airlines is in Star Alliance, which is a good option for domestic award redemptions. You can see the full list of airline transfer partners here.
Travel Benefits
Speaking of hotel stays, when you book four consecutive nights through ThankYou.com using your Prestige Card, you'll receive one night free of charge (average cost of the four nights) in the form of a statement credit to your account. You must pay with your Prestige Card in order to receive your fourth night free, and you can use this benefit twice per year.
You also receive a $250 annual airline travel credit if you spend at least that much in airfare, baggage fees, or upgrades.
If you like to spend your time at the airport in lounges, enjoying free Wi-Fi, food, and drinks, then the Prestige Card has you covered. You will enjoy complimentary access to hundreds of VIP lounges through Priority Pass Select.
Also, you can receive up to a $100 statement credit for the application fee to either Global Entry or TSA PreCheck.
Upscale Perks
The Prestige Card truly lives up to its name for travelers who are opposed to the common bargain. The Citi Prestige® Card gives cardholders access to private jets, upscale airport lounges, personal assistance at airports, and chauffeured car services, all by exchanging your ThankYou Points. If you are really interested in the red carpet treatment, then paying the $495 annual fee may be worth the access to these top-notch perks.
Conclusion
The Prestige Card is a great card for big spenders with great credit, and for those who like to travel frequently and take advantage of upscale perks. It does come with a hefty annual fee of $495, which is a turnoff for many travelers, but perks like the $250 annual airline credit, $100 Global Entry credit, and many others help to offset that cost, making it competitive with many of the other travel cards that are currently available.
The Citi Prestige® Card is a great card for the right traveler, and those who have this card should likely hang onto it.
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