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Updated March 31, 2016

Citi Thank You Preferred Card Review

Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
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If you're looking for a simple rewards card with a straightforward points structure the Citi ThankYou Preferred Rewards card might be a good fit for you. There are no complicated rotating “bonus reward” categories, no expiration dates on points earned, and no annual fee -- purchases will earn you 1 point for each dollar you spend with the exception of dining and entertainment purchases which earn double points.

Overall Score

3.9

Rewards

3.5

Interest Rates

4.0

Fees

4.0

Benefits

4.0
5-point scale (the higher, the better)

Pros and Cons

  • Intro APR
  • No annual fee
  • 3% foreign transaction fee

Bottom Line

Good rewards credit card for those who do not like annual fees

Rewards Program

When you make a purchase with the Citi ThankYou Preferred Rewards card will earn you rewards points. The majority of purchases will earn points at the rate of 1 point per dollar, but dining and entertainment purchases will earn you 2 points per dollar of spending. Unlike other rewards cards that have bonus rewards categories that constantly change throughout the year, this point structure is consistent year round.

The points you earn do not expire and there’s no limit to the number of points you can earn in a given year. When it comes time to redeem your points you have a number of options to choose from including gift cards, merchandise, charitable donations, even cash. For example, you can redeem 10,000 points for a $100 gift card. Other redemption options like cash and merchandise generally offer even lower redemption rates, though.

Sign-Up Bonus

As a new cardholder you’ll be able to take advantage of two sign up promotions offered by Citi.

  • Earn 15,000 bonus ThankYou® Points after you spend $1,000 in purchases within 3 months of account opening. Bonus ThankYou Points are not available if you have had a ThankYou Preferred, ThankYou Premier or Citi Prestige card opened or closed in the past 24 months.

  • 0% intro APR on balance transfers and purchases for 12 months. After that, the APR will be a variable rate, currently 14.49% - 24.49% depending on your creditworthiness. Keep in mind that there is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.

Travelers Beware

© Davis Staedtler (CC BY 2.0) via Flickr

Though there are definitely some travel friendly features to this card like its global acceptance (smart chip), the several types of travel insurance it offers, and the ability to redeem points earned on it for travel related rewards, there is a 3% foreign transaction fee attached to its use abroad. This 3% will add up over time for frequent travelers, who might be better served by a card without a foreign transaction fee.

Pros

  • Intro APR on purchases and balance transfers for 12 months
  • Reward points can be redeemed for gift cards, merchandise, and cash back among other options
  • No annual fee

Cons

Bottom Line

The Citi ThankYou Preferred Card is a good card for someone looking for low hassle rewards. The introductory APR helps make this a solid rewards card deal. If you decide to go with this card, make sure to redeem your points for gift cards to get the most value out of them.

David R is a contributing writer at CreditDonkey, a credit card comparison and financial education website. Write to David R at davidr@creditdonkey.com. Our data-driven analysis has been recognized by major news outlets across the country and has helped consumers make savvy financial and lifestyle decisions. (read more)

Editorial Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

Disclaimer: This content was first published on April 13, 2012. This content may have been updated on March 31, 2016. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Citi website for updated information.

Disclaimer: The information for the Citi ThankYou® Preferred Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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Compare Citi Thank You Preferred to:

Compare Citi Thank You Preferred vs Chase Sapphire Preferred
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
16.74% - 23.74% Variable
Introductory Annual Fee of $0 the first year, then $95

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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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