Citi ThankYou® Preferred Card

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  • Enjoy 0% Intro APR on purchases for 15 months from date of account opening and 0% Intro APR on balance transfers for 15 months from date of first transfer; after that, the variable APR will be 14.74% - 24.74%  based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater*
  • Earn 2X Points on Dining Out & Entertainment
  • Earn 1X Points on All Other Purchases
  • Points are redeemable for gift cards to popular retailers, restaurants, and department and home stores. 2,500 ThankYou® Points can be redeemed for a $25 gift card at thankyou.com.
  • No expiration and no limit to the amount of points you can earn with this card
  • No annual fee*    
Annual Fee:
$0*
Purchase Intro APR:
0%*
(15 Months*)
Purchase Regular APR:
14.74% - 24.74%*
Variable
Balance Transfer Intro APR:
0%*
(15 Months*)
Balance Transfer Regular APR:
14.74% - 24.74%*
Variable

Details, Rates & Fees

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate 26.49%* Variable
Cash Advance Fee 5%, Min: $10
Late Fee Up to $35
Penalty APR Up to 29.99%* Variable
Balance Transfer Fee 3%, Min: $5
Foreign Transaction Fee 3%
Return Payment Fee Up to $35

Rewards

All Purchases

1 point per dollar

No cap on spending

Restaurants

2 points per dollar

2 ThankYou Points per dollar spent on dining at restaurants and entertainment

Entertainment

2 points per dollar

2 ThankYou Points per dollar spent on dining at restaurants and entertainment


Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
lavanadams
Excellent starting CL
by lavanadams
Helpful to 15 out of 19

I was doing a bit of an AOR and got approved for this with a surprisingly high limit. High CL, No Annual Fee, and good rewards: 5 stars in my book.

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
LSY18
Not a fan of ThankYou Points
by LSY18
Helpful to 14 out of 14

I've had this card for years but honestly I'm not a big fan of it. The only reason for not closing it is to avoid dropping my average credit age

This card doesn't offer the quarterly 5% cashback on rotating categories. It's base cashback rate is 1% and for most of the time that's all you get. If you want to boost your cashback, probably the only chance is to take advantage of the "pop-up" 5% cashback offer, usually on many categories at the same time (the ongoing one I have features grocery stores, gas stations, drug stores and ground public transportation). That sounds lucrative, but remember, you get $25 reward max, which corresponds to only $500 in spending in those categories combined.

The things I dislike about the ThankYou Points most are its confusing redemption options and its very unattractive redemption rate. Before I started, I wasn't able to find any good instruction about redemption. Everything I found out is what I learned through practice. 

As for the redemption itself, the first thing to note is that Citi markets the redemption as "use points to cover eligible transactions." That means, the redemption is on a "lump sum" basis: if your points can cover one transaction, then you must cover the entire transaction; if your points can't, you can't cover portion of it. Chase, Discover and American Express allow you to apply your points to cover your statement balance, without binding to specific transactions, which means you can redeem whatever amount that is above the minimum redemption threshold. Citi clearly doesn't like that idea. Say, on your statement, you've got a $5 purchase and a $10 purchase, and you've got a $9 worth of points, you can only cover the $5 purchase, and spare the rest of the $4 reward hopefully for next month. You can't cover the $4 of the $10, or cover the $9 of the total $15. This is truly annoying. Unless you use this card a LOT, you're likely only to be able to cover your really low-value transactions, like a few gallons of gas or a cup of coffee.

Then, the reason why I said "$9 worth of points" is that you won't be able to cover a $9 transaction with 900 points; instead, you need 1200 points. Your points are worth 25% less their value when you redeem them to pay off balance, and I wasn't able to find this piece of important information when I started earning points. If I remember correctly, Chase, Discover and AMEX offer 1:1 redemption rate for credit to balance, so shame on Citi.

If you ask me why don't I use points for something else like gift card or purchases... Long story short: ThankYou Rewards offers a miserable number of partners... Pay purchases with points? They've got Amazon, Expedia, a ticket vendor, a flower vendor, BestBuy and a gift card vendor... That's it. I'd be better off using other credit cards for all of these partners. And don't expect any "bonus" for redemption like what Discover offers (for example, $50 gift card for $45 reward dollars). 

So what's this card for? I'm not really sure...


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† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from July 2017 through December 2017. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

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