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Even though the Citi Prestige has lost a lot of benefits, I'm still keeping mine (for now); Here's why
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Quick summary
Recent changes have reduced key benefits and increased the annual fee for a premium travel rewards card, leading many to question its ongoing value.
Despite these cuts, the card still offers a strong return at restaurants, especially for international dining where acceptance is broad.
The fourth-night free hotel benefit has been limited but can still provide significant value for certain bookings, particularly at independent hotels.
Temporary perks and Mastercard World Elite benefits, such as ride credits and shipping discounts, help offset some lost value.
What to consider
The fourth-night free hotel benefit is now limited to two uses per year, applies only to room rates and requires booking through a specific travel portal.
Temporary bonus categories and credits may be available only for a limited time or in response to special circumstances.
Some benefits, like elite hotel perks or points earning, may not apply when booking through third-party portals.
What you'll miss from the article
A detailed comparison of dining rewards, hotel booking strategies and how to maximize temporary and ongoing perks amid recent program changes.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
It’s been a roller coaster couple of years for the Citi Prestige® Card.
In the first half of 2019, Citi introduced some very positive changes: The earning rate on airfare and dining increased to 5 points per dollar spent, the card’s annual $250 credit was expanded to include all travel purchases (previously, it only covered airfare) and cellphone insurance was added. Then, in September 2019, Citi stripped the card of most of its signature benefits, including travel and purchase protections -- and raised the card's annual fee to $495.
The information for the Citi Prestige Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
These changes led many to question whether the Prestige is worth keeping. For me, the answer to that question is yes. Here’s why I won’t be getting rid of this card – at least for now.
Earn 5x points at restaurants with the Citi Prestige Card. (Photo by Oscar Wong/Getty Images)
Dining is one of my largest spending categories. So, at 5x Citi ThankYou Rewards points per dollar spent, the Citi Prestige Card offers the best rewards for restaurant spending of any card on the market. Based on TPG’s valuations, that’s a whopping 8.5% return on restaurant spending. Citi defines restaurants as including “cafes, bars, lounges and fast-food restaurants.” In practice, you’ll usually also get 5x points for food delivery services.
The American Express® Gold Card's 4x Membership Rewards points per dollar spent on dining at restaurants worldwide is worth nearly as much (an 8% return, since Membership Rewards are more valuable than ThankYou Points based on TPG's valuations). But, Mastercard is much more widely accepted than American Express, especially when traveling abroad. For this reason, the Citi Prestige is more attractive to me than the American Express Gold Card ($250 annual fee, see rates and fees).
Other cards that offer bonus points for dining have a much lower rate of return. The next best dining card I have compared to the Citi Prestige is the Chase Sapphire Reserve, which earns 3x Chase Ultimate Rewards points per dollar spent in this category.
It’s gone from unlimited to only two uses per year
It only applies to the room rate (previously, it also covered taxes and fees for the free night)
It only applies to reservations made through the Citi ThankYou travel portal. That means you generally won’t earn points or receive elite benefits at the hotel. And, now you also can’t take advantage of special discounts for AAA cardholders, loyalty program members or companies with negotiated rates.
While these changes make the Citi Prestige fourth night free benefit significantly less valuable, it’s still a great deal in many cases. There are many independent hotels that don’t offer loyalty programs and many more where a 25% discount on a four-night stay is worth more than the points you might earn from your stay – especially if it’s a hotel chain you’re unlikely to stay with again.
There are also times Citi may offer a better room type or a lower price than other booking options. While you have to do some calculations before deciding that using your fourth-night free perk is the best deal, I’m confident I’ll still be able to get significant value from this benefit twice per year.
But if I’m booking an independent hotel or taking advantage of a promotion through an online travel agency such as Orbitz or Expedia, I can use my Citi Prestige Card to earn 5x points on those purchases. This is also a great way to get 5x points on tours and activities, which you can often book through agencies like Expedia and Viator.
Earn 5x points on streaming purchases for a limited time. (Photo by Phil Barker/Future Publishing/Getty Images)
Like most people, I haven't been traveling as much this year. So, the following temporary perks provided to Citi Prestige cardholders have helped me justify keeping the card:
$250 annual travel credit can be used at supermarkets and restaurants through the end of 2020
To maximize the temporary 5x points on online, cable and streaming purchases, I'll strive to spend $1,500 in these categories before the end of 2020. Based on TPG's valuations, the 7,500 points I'll earn on these purchases are worth about $127.
A $10 Lyft credit whenever you take five eligible rides in a calendar month (valid once a month).
Double VIP+ points on Fandango purchases: For every two tickets purchased, earn enough for a $5 reward toward future movie tickets or at-home purchases
Free two-day shipping, plus free return shipping, on eligible items at over 100 online retailers with ShopRunner
Earn 5% Boxed Cash Rewards for future orders on wholesale pantry items, snacks and more
I'm able to use the $10 monthly Lyft credit almost every month, so this perk alone could add about $120 of value each year.
There’s no question that the negative changes Citi has made to the Citi Prestige Card make it much harder to justify keeping in the long term. But for now, since I spend so much on dining (especially internationally, where American Express acceptance is low) and can still get reasonable value from the fourth-night free benefit, this card still has a place in my wallet. That being said, I’ll definitely be looking closely at whether to keep it when it comes time to pay the annual fee again next year.
For rates and fees of the Amex Gold Card, please click here.
Additional reporting by Katie Genter.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
