Citi 50,000 Point Bonus on ThankYou Premier Card

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*update: bonus has been reduced to 30,000 points*

This year has been pretty incredible for credit card bonuses. If you’ve been getting in on the right deals it’s possible to have racked up nearly half a million (or more) miles and points so far this year just from card bonuses – and we are aren’t even halfway through 2011!

Today Citi announced that until June 30, 2011 they are offering a 50,000 point sign-up bonus for their ThankYou Premier Card, which is a huge increase from the normal 20,000 bonus. The ThankYou Premier card is a fixed-value redemption card, meaning you cannot transfer these points to airlines or hotels – instead you can redeem ThankYou points for 1.33 cents each for travel (so 50,000 points = $665 towards airfare and those flights will earn you miles, including elite miles) or 1 cent each towards most $100 gift cards (like Marriott, Hyatt, Ritz-Carlton, Royal Caribbean or even Sunoco).

However, there is a $125 annual fee on the card, so the most you will make with this bonus is $540 towards travel, which is pretty decent, even though we’ve been spoiled lately. I also like that this is a Citi card, because the past few months have been very active with Chase and American Express offers.  As always, if you do decide this card makes sense for you, I’d appreciate if you used my referral applicationlink (discontinued), which is what keeps this site going.

The basics:

Earning: 1.2 ThankYou Points for every dollar you spend on purchases at supermarkets, gas stations, drugstores and commuter transportation/parking merchants. 1 ThankYou Point for every dollar you spend on all other purchases.

Card: You can choose either Visa or Mastercard

Overall, this card won’t get you a free business class ticket to Asia, but it can save you a nice chunk of change – especially if you have upcoming travel that can’t be booked using airline or hotel program miles and points.

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