[2020.4 Update] According to DOC, this card will add new 2x categories on August 23: cable TV, streaming, and online entertainment. This card is actually no longer available for application, so it’s unclear why Citi is adding these 2x categories now. You can still get this card via product change, but its highest bonus category is only 2x. At that point, you might as well product change to the Double Cash, which earns 2x on all purchases and also earns TYP. (Introduction to credit card product changes)
- 2X ThankYou Points on cable and popular streaming (new)
- 2X on live entertainment (new)
- 2X ThankYou Points on restaurants (old)
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Citi ThankYou Preferred Credit Card Review
Basics
- Sign-up bonus: None; currently unavailable for new applications
- Earning rate: 2X TYP on dining and entertainment purchases (including theme parks, movies, concerts, and sporting event tickets); 1X on all other purchases
- No annual fee
Highlights
- Broad entertainment coverage: The 2X categories include dining, and the entertainment category is also fairly broad, covering things like movies, concerts, and sports tickets. It can be a good card for buying NBA tickets or movie tickets.
- Citi card benefits
- Price Rewind: If an item’s price drops, you may be able to get Citi to reimburse the difference
- Free FICO credit score: Provided by Equifax, with historical tracking shown in chart form
- Private Pass: They once offered free movie tickets, though I personally missed it
- Retention offers can be fairly generous: If you threaten to cancel when an annual fee is due, you might receive some promotions
Drawbacks
- The rewards multiplier is only average, and there isn’t much else to optimize or play with here (such as AMEX Offer)
Points Program Overview
- Point value: Average value is 1.5c/p, 100 TYP = $1.5 (Point value and analysis)
- Direct redemption: Redeem at 1c/p for Statement Credit
- Point transfers: 1:1 transfer to AA (good for U.S.-China and U.S.-Europe redemptions, especially premium cabins); 1:1 transfer to Virgin Atlantic miles (good for Delta One nonstop awards and ANA round-trip first class between the U.S. and Japan); 1:1 transfer to Avianca miles (good for U.S.-China business class, ANA and Asiana first class between the U.S. and China, with no YQ on ticketing); 1:1 transfer to Qantas Airways (QF) miles (good for nonstop U.S. domestic awards and U.S. East Coast to Western Europe). You need to hold the ThankYou Premier or Prestige to transfer TYP to airline and hotel points.
- Program features: You can pool all TYP points into one account and use them together. TYP points on each card expire separately, so it’s best to use up the TYP from a card before closing it. You can transfer up to 100k TYP per year to a friend’s account.
- My quick take: For TYP airline partners, just keep AA, AV, and VS straight. Hilton as a hotel partner is also not really worth transferring to. Redeeming for cash/gift cards is only worth 1 cent per point. So the value is about 1.3c, and a few of the more niche airline partners still make it interesting.
- Detailed analysis: ThankYou Points guide>>
My Take
This was the first Citi card I had my wife apply for. She already had several AMEX cards before that (including authorized user cards under my account), one Barclays US Airways card, and one Discover it credit card. This time, we wanted to start with a simple Citi card first to reduce the risk of denial. It turned out to be the right choice: after using this card for a while, she was not denied for any other Citi cards she applied for afterward.
Application
- This card is no longer available for direct application; it can only be obtained via product change.