Citi ThankYou® Preferred Card Reviews

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2.8 out of 5 stars
11 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

3.5 out of 5 stars

3 5

Card Details

  • Balance Transfer Intro APR 0% for 15 Months
  • Balance Transfer Regular APR 14.49% - 24.49%* Variable
  • Annual Fee $0
  • Purchase Intro APR 0% for 15 Months
  • Purchase Regular APR 14.49% - 24.49%* Variable
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Most Helpful Positive Review

Jul 28, 2017
Excellent starting CL
lavanadams Cardholder

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.

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Most Helpful Negative Review

May 11, 2017
ThankYou Points are the worst
00smiley Cardholder

For the ThankYou Preferred, you cannot transfer points to airlines. This is not clearly stated anywhere, while the other Thankyou cards can do this. Waste of time having this card, it is horrible. There are many better options available. 

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These reviews were written by current and former cardholders in the last year.

Oct 23, 2017
Not a fan of ThankYou Points
LSY18 Cardholder

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...

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.

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

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Aug 20, 2017
Ridiculous Company Charged Unfounded Lat
cryoaura Cardholder

After being a customer with 2 credit cards for years and paying on time more than minimum payment every single year, we got royally screwed. We made a balance transfer to our card on July 7. We asked when the due date normally was, July 13. So, the first due date for the balance transfer would have been August 13. We made a $450 payment, WAY over the minimum on July 15, but they would not count that towards the August 13th due date and assessed a $35 late fee and flagged us as late. I'd be fine if that was automatic, but they saw what happened and revoked the late fee. Instead, I was transferred 8 times, and put on hold 11 times, to finally have a "manager" tell me I'm the one who screwed up and paid during this July 13-17 payment no-man's land. Well, goodbye Citi, I'm sorry you don't care one bit about your customers. Going with some smaller bank or a company like discover.

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Jul 28, 2017
Excellent starting CL
lavanadams Cardholder

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.

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Jul 22, 2017
I love this card!
Gingerlin23 Cardholder

As long as you pay on time and dont miss a payment this is a great card!

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Jun 28, 2017
F*ck this card F*ck CITI
haifengzhang Cardholder

Citi sent me mail with preapprroved code for this card. After spend $3000 in the first 3 month. I did not get any bonus. It turns out Citi cheated me. Normal people apply on line will have that 15000 bonus point, but when they invite you, you got nothing. I called lots of times but never worked. Ps. My credit score in citi's system is 770. 

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Jun 19, 2017
Thankyou points are worth less and less
Kris2014 Cardholder

I got this card in July of 2015. At that time, I could use the Thankyou point for account credit or Amazon credit. One point was nearly 1 cent and I used this car for restaurants and movie theaters so I got 2x points. After a year or so, they reduced the value of one TY point to like 0.75 cent or so. It's not worthy and the use for dine out and entertainment to get 2x points is actually a great limitation. I am considering to close the account and apply for Citi Double Cash.

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May 11, 2017
ThankYou Points are the worst
00smiley Cardholder

For the ThankYou Preferred, you cannot transfer points to airlines. This is not clearly stated anywhere, while the other Thankyou cards can do this. Waste of time having this card, it is horrible. There are many better options available. 

more ...
May 10, 2017
Scumbags
joshnyce Cardholder

Stay away from Citibank. They do not take responsbility when they cause problems, much less when someone else clones your card. They are by far the worst bank for dealing with problems, including ones they create themselves. Every other bank is better, and it's not even close. Citibank will waste months of your time while other banks resolve issues immediately, and citibank often fails to resolve issues at all. 

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May 03, 2017
A card that loves LOW credit util
TRMY Cardholder

I've had this card since 2013, they approved me when I really needed credit. TU score 668 at the time, was approved for CL of 800 which I thought was so high at the time lol. A few years go by, I was late a few times, got a penalty rate, but now I'm repairing my credit, now TU 704. Recently opened a bunch of CC (4!) and recently transferred my CITI balance to a penfed card.  Mind you I was DENIED CLI in the past but now it had on the mobile app how I could be instantly approved, and wouldn't you know it after being denied 3 weeks ago, I was approved for a CLI of 500, not much but I'm excited that they approved me!

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Mar 29, 2017
Excellent student card
Anonymous Cardholder

I got approved for this card as a student with no credit. CL of $1500 at first, and about 6 months later they increased it to $2250. Very nice rewards program (thankyou.com) where you can find deals that you won't find anywhere else. I recommend this card if you are a student and want to increase your credit score.

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Sample Size: 337
Data Created: February 02, 2015

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Citi ThankYou® Preferred Card