Citi Prestige Credit Card Review

The premium credit card from Citi that earns ThankYou Points, the Citi Prestige® Card, is designed with business and vacation travelers in mind. The card offers substantial 5 points per $1 spent on dining out and airfare, and the $250 annual travel credit helps to offset the high annual fee. Another good feature is that two friends can enter the Priority Pass Select lounge for free.

The card falls short since it doesn’t provide anything beyond the headlines. The Citi Prestige card does not include the usual purchase protection or travel insurance advantages found on credit cards with comparable annual fees. Some domestic U.S. travelers may find the Priority Pass lounge feature of limited value, and there are no purchase or travel protection advantages offered by premium credit cards.

Similar to the Chase Sapphire Reserve or The Platinum Card® from American Express, Citi’s entry into the market for upscale travel credit cards is the Citi Prestige. The Citi Prestige offers more rewards than other cards in this category, but fewer advantages.

Putting its benefits first, the Citi Prestige offers competitive earning rates in its bonus categories, which include 5 points for eating and travel expenses and 3 points for lodging. 

An annual $250 travel credit is automatically applied to trips through December 31, 2022, and purchases at grocery stores and restaurants also qualify.

For individuals who book high-end hotels on ThankYou.com, the Priority Pass Select lounge access offers lounge access for up to two more guests in addition to the cardholder, and the 4th night is a free bonus that may offer exceptional value.

The card falls short since it conspicuously excludes travel and consumer insurance benefits, which are standard features on even mid-tier credit cards. The Citi Prestige card does not include collision damage waiver coverage for rental cars, lost luggage insurance, or travel cancellation or delay insurance. Additionally, it does not benefit from extended warranties or purchase protection. These advantages, which are practically standard in the $500 annual fee premium credit card sector, would significantly increase Citi Prestige’s value proposition.

The Citi Prestige card, which has an annual fee of $495, is the best option for someone who frequently flies and spends money at restaurants, appreciates ThankYou Points, and does not otherwise have access to airport lounges. However, there are better credit card options available for the majority of tourists.

Key Features

• When you apply by May 31st, 2023, and spend $10,000 within the first 90 days of account approval, you will receive 300,000 bonus Citi reward points.
• For six months, balance transfers can be saved at 0% APR (reverts to cash advance rate). Please be aware that while you have a balance transfer, no interest-free days apply to retail transactions.
• Take advantage of a first-year discount of $350 on the regular $700 annual price.
• Earn uncapped points of up to three for every dollar spent on certain items.
• Free airport transportation and unrestricted access to the lounge
• When you reserve four consecutive nights at a wide variety of hotels in Australia, the fourth night is on the house.
• Enjoy 10% off on Limited Time Lux Exclusive hotel offerings (up to $250). Offer valid through March 1st, 2023.
• monthly reward on purchases from your preferred retailers I provide Cashback
• For all qualified International purchases, 3 Points per $1. Spend
• For specific domestic purchases made and reserved directly through several major: chains of restaurants, hotels, and airlines
• For some domestic purchases made at well-known gas stations, supermarkets, and local shops, you can earn two points for every $1 spent.
• 1 point for every $1 spent on domestic eligible transactions elsewhere.
• Enjoy free Priority Pass membership and limitless access to lounges for you and a guest.
• an individual concierge service
• Purchase Cover Insurance and Extended Warranty for International Trave

Pros

• Get a $30,000 bonus Apply by May 31, 2023, and get Citi reward points when you spend $10,000 within the first 90 days of account approval.
• For six months, balance transfers can be saved at 0% APR (reverts to cash advance rate). Please be aware that while you have a balance transfer, no interest-free days apply to retail transactions.
• Take advantage of a first-year discount of $350 on the regular $700 annual price.
• Earn three Citi reward points for every dollar you spend.
• Transfer your Citi reward points to participating hotels and airlines, such as Singapore Airlines KrisFlyer, Virgin Australia Velocity, and Emirates Skywards.
• One luxurious airport transfer in a few Australian locations, up to $100.
• Take advantage of a free Priority Pass membership and limitless access to lounges for you and a guest.
• When you reserve four consecutive nights at a wide variety of hotels in Australia, the fourth night is on the house.
• With My Money offers, you may receive monthly money on purchases from your favorite merchants.
• Receive 10% off (up to $250) Limited-time hotel deals from Lux. Offer valid through March 1st, 2023.
• Constant personal assistance Free international travel insurance
• Up to an additional four cardholders without charging extra

Cons

• $700 p.a. annual credit card fee is excessive.

Benefits

• A free fourth night: The Citi Prestige fourth night free bonus has long been regarded as its most important perk. When you make a reservation through the Citi ThankYou travel portal, Citi will cover the cost of your fourth night’s stay at almost any hotel. However, you are limited to using this benefit twice a year. Your average nightly rate, excluding taxes and fees, will be used to determine the fourth night free.
• Credit for trips up to $250: Each calendar year, holders of the Citi Prestige credit card are eligible for a $250 travel credit. More specifically, the first $250 in travel-related purchases you make each year will automatically earn you a statement credit. This credit is available for a variety of travel-related purchases, including those made with airlines, hotels, car rental companies, travel agencies, travel aggregators, tour operators, commuter trains, ferries, subways, taxis, limousines, car services, passenger railroads, cruise lines, bridge and road tolls, parking lots, garages, and bus lines. It also applies to commuter transportation like ferries, taxis, limousines, and car services.
• Access to a Priority Pass lounge: You will also have access to the Priority Pass lounge network if you have a Citi Prestige card. More than 1,300 airport lounges are part of the Priority Pass network worldwide. Citi Prestige cardholders receive a Priority Pass Select membership, which entitles them, their immediate family, and up to two guests to free lounge access. Although there are several good Priority Pass lounges in the United States, the majority of the better ones are located abroad.

Conclusion

If you want to receive exclusive travel and leisure benefits in addition to earning outstanding rewards on all of your purchases, the Citi Prestige Credit Card is the best option for you. This card comes with some fantastic benefits and privileges. However, because of its annual charge, you can feel a strain on your wallet.

No other credit card can match this one in terms of travel rewards if you’re willing to pay an annual fee of Rs. 20,000. Transferring Citi Prestige Reward Points to partner airlines’ AirMiles programs yields a fantastic reward redemption rate (1 Reward Point = 4 Air Miles). As was already mentioned, it offers a variety of travel benefits, but since it is a super-premium card, you also receive several lifestyle benefits, such as complimentary rounds of golf at some of India’s top golf destinations, concierge service for help with daily tasks, and a complimentary additional night at any hotel in the world.

The Citi Prestige credit card may be well worth the price for individuals who take advantage of most of its perks. The fourth night’s free benefit might still be worth several hundred dollars when used wisely. The card’s earnings on dining and travel expenses as well as shopping protections can add up to be a very valuable benefit in addition to the simple-to-use $250 annual travel credit.