Finance

Citi Premier Card – Why It Is a Suitable Travel Credit Card

If you are a frequent traveler, one of the best ways to save money is to find a reliable travel credit card to add to your wallet. Such a card should give an amazing sign-on bonus and reward points for purchases, whether or not you are in the country. It should also have category bonuses when used in specific places and for certain items so that you can quickly increase your bonus points and cash them in when traveling.

That is where Citi Premier Card excels. It has all these benefits and more, making it one of the best cards for the road. While there are other similar cards, a review of the Citi Premier shows you its strengths and why you should trust its services. Moreover, despite its perks, it has an affordable annual fee of $95. Let’s discuss it in detail for better understanding.

What Is the Citi Premier Card?

It is a travel rewards mid-tier credit card for the frequent traveler and regular spender. It has a hefty 60,000 welcome bonus points for signing up to use the card. The card also offers a Citi ThankYou points program for purchases and other uses. This program collaborates with many airlines and hotels to allow you to transfer those points when traveling, cutting costs.

Before you become eligible for the welcome bonus, you must have spent $4,000 in the first three months of opening your account. So, if you regularly eat out, shop for groceries, or buy gas, consider using this credit card. The reason is that such purchases easily help you amass bonuses for regular spending, which you can transfer when traveling.

Getting in quickly can help you save even more money for a limited time. Until June 30, 2024, you can earn 10 ThankYou points for every $1 spent on car rentals, hotel bookings, and other spending apart from air travel tickets, much higher than the regular 3 points per $1. With this fast-tracked earning, you can spend a little over $1,330 per month if you are a new account holder to meet the minimum spending point for qualification.

There is always a risk of overspending to meet the minimum requirement. In such cases, you may spend more than your monthly budget allows, tying your funds into expenses that could have been avoided. However, it does not have to be so; you can manually track your expenses to ensure you do not overspend.

Alternatively, use Citi Card Tracker to keep things in check and know when you hit your mark without overspending. Here are additional benefits of tracking your spending.

Benefits of Using the Citi Premier Card

The following are some of the top benefits of using this travel rewards credit card, whether you are on the move or making purchases for your home.

  • Allows Limitless Points Earning

Many rewards credit cards cap your bonus earnings for specific categories. This method is restrictive, especially if you spend a lot on purchases monthly. However, Citi Premier allows you to earn as many points as possible as you spend, which makes it easy to increase your points for conversion when you need them.

  • Offers an Excellent Earning Ratio

For many holders of various credit cards, the experience is that they earn only one point for every $1 spent. Others offer two per dollar. If you are not keen on the rewards and simply want a credible credit card partner, these may not matter.

However, if the rewards will go a long way in saving costs for your spending, you will be pleased to know that Citi Premier offers three points for every dollar spent. Heavy spenders have the most to gain from bonus earnings.

  • Gives the Privilege of Sharing Points

Did you know you could share your points with loved ones? If you have a family member or friend with a Citi ThankYou account, you can send them a yearly maximum of 100,000 points. Although the receiver must use them within 90 days or three months of receiving them, it allows you to maximize your amassed rewards, especially if you have a lot without plans to use them.

  • Allows Shopping with Points

Some merchants, like BestBuy and Amazon or those who accept PayPal payments, allow you to shop for items with your Citi ThankYou points. The redemption value is pretty low at less than one cent for every point, but it still saves you some money, especially if you are low on funds. You can also use them at fuel stations like Shell and BP if you use your card at the pump.

5. Points Redeemable for Cash

Sometimes, you need cash, and all you have are your bonuses. You can redeem them in cash for one cent for every point. Suppose you have 100,000 of them to redeem. In that case, you will get $1,000 for them. 

You can get it as a check in your mail, a direct deposit into your checking account, or a statement credit. This resource https://www.creditcards.com/ explains more benefits of using the card.

Conclusion

Citi Premier Card is one of the best travel credit cards in the market. It has a lot of offers, including a 60,000-point welcome bonus, a 3:1 ratio for bonus earnings, and a possibility of 10:1 between now and June. 

You can also use the points to shop or redeem them for cash. Track your expenses using the Citi Premier tracker to follow your expenses closely. Whether traveling or buying household groceries, anyone can earn and enjoy the perks of using this card.

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