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Citi ThankYou Preferred Card Review

About.com Rating 3.5 Star Rating

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Citi's new no-fee ThankYou card offers a good deal, with a spending bonus of up to $200 in gift cards and 12-month introductory interest rate.

Who the Citi ThankYou Preferred Card Is For

  • People who want to earn rewards points on their credit card spending.

About the Citi ThankYou Preferred Card

Pros

  • No annual fee
  • Introductory rate applies to purchases and balance transfers
  • Initial spending bonus
  • Citi Price Rewind

Cons

  • Not ideal for people who don't spend much on dining or entertainment

Rewards

  • Earn 20,000 bonus ThankYou® Points after $1,500 in card purchases within 3 months of account opening – redeemable for $200 in gift cards or other great rewards!
  •  2x Points on purchases for dining and entertainment
  • 1 ThankYou Point on other purchases

APRs

  • Promotional APR: 0% for 12 months on purchases and balance transfers
  • Regular APR: 12.99% to 22.99% (variable), depending on your credit rating.
  • Cash Advance APR: 25.24%
  • Penalty APR: 29.99%.

Fees

  • Annual Fee: None
  • Balance Transfer Fee: $5 or 3% of the transfer.
  • Late Payment Fee: Up to $35.
  • Cash Advance Fee: $10 or 5% of the amount.
  • Returned Payment Fee: Up to $35.
  • Foreign Transaction Fee: 3% of the amount.

Citi ThankYou Preferred Card Review

The Citi ThankYou Preferred Card is one of Citi's three cards under the ThankYou rewards program. This one has a 20,000 ThankYou Points rewards bonus offer - redeemable for up to $200 in gift cards - if you can spend $1,500 in the first three months of opening your account. 

Dining and entertainment purchases earn two ThankYou points per dollar and all other purchases earn one point per dollar. ThankYou points are redeemable for a wide variety of cash, gift cards, merchandise and travel. There's no limit on the points you can earn, and your points won't expire as long as your account is open and current.

There's a 0% APR for the first twelve months on both purchases and balance transfers. After that, APRs range from a low of 12.99% to 22.99%, depending on your credit history. There is a balance transfer fee of $5 or 3%, whichever is greater.

Like CIti's other credit cards, the Citi ThankYou Preferred Card has Citi's Price Rewind service, which allows you to request a partial refund for items that have at least a $25 price difference within 30 days of your purchase.

Recommendation

The Citi ThankYou Preferred Card is good for those who make lots of dining or entertainment purchases. Citi's other ThankYou rewards cards - the Premier and the Prestige - have higher rewards, but both come with annual fees.

Apply for the Citi ThankYou® Preferred Card - Earn up to 20,000 Bonus Points.

If you prefer cash over points, check out the Citi Dividend Platinum Select Card. It doesn't have a signup bonus, but it come with a great 0% introductory rate and pays up to 5% cashback in quarterly rotating categories and 1% on everything else.

Last updated January 14, 2014. Credit card terms and sign-up bonuses are subject to change from the time of this review. Refer to the application for current terms and conditions. Credit card reviews are completely objective. This site may be compensated when a reader applies for a credit card through links on the the site.

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