Citi has just recently started accepting applications for their newest card, the Citi Rewards+℠ Card. It’s a card I’m pretty excited about, because it has an especially unique feature.
Citi Rewards+ Card benefits & bonus categories
Applications are now live for the Citi Rewards+ Card. This card has no annual fee, and has a very interesting rewards structure that we’ve never seen before on a card. The card:
- Rounds up purchases to the nearest 10 ThankYou points
- Offers 2x ThankYou points at supermarkets and gas stations, for the first $6,000 spent per year
- Gives you 10% of your points back for the first 100,000 points you redeem per year
The card also comes with the following benefits:
- Access to presale tickets and VIP experiences for thousands of events each year through Citi Private Pass
- Trip Cancellation and Interruption Protection
- Worldwide Car Rental Insurance
- Worldwide Travel Accident Insurance
- Damage & Theft Protection
- Extended Warranty
- 90 Day Return Protection
Citi Rewards+ Card welcome bonus
The Citi Rewards+ Card offers a welcome bonus of 15,000 ThankYou points after spending $1,000 within the first three months of account opening.
Do note the following terms when it comes to eligibility for this card:
Bonus ThankYou® Points are not available if you received a new cardmember bonus for Citi Rewards+℠, Citi ThankYou® Preferred, Citi ThankYou® Premier/Citi Premier℠ or Citi Prestige®, or if you have closed any of these cards, in the past 24 months.
Reports already suggest that it’s possible to product change the Citi Preferred, Premier, or Prestige to this card, should you want to do that, rather than outright applying for the card.
My take on the new Citi Rewards+ Card
To me, that first benefit is by far the most interesting. If you make a $1 purchase on the Citi Rewards+ Card, for example, you’ll earn 10 ThankYou points, so that’s a pretty incredible return for small purchases.
While there are lots of great credit card bonus categories nowadays, a lot of them overlap quite a bit. That’s why I’m not that excited about the bonus on supermarkets and gas stations, though I guess for a no annual fee card those are pretty good bonus categories.
Citi has introduced something really unique here, which we haven’t yet seen on any other card, and I really like that.
What kind of ThankYou points does the Rewards+ Card offer?
While the card earns ThankYou points, independently these points can’t be transferred to the Citi ThankYou airline partners, which is my preferred use of ThankYou points.
However, if you have this card in conjunction with the Citi Premier℠ Card or Citi Prestige® Card, then you can pool points at thankyou.com, and can redeem points that way. You should be able to link this card with other Citi cards using your Citibank login.
Given that I always plan on having the Premier or Prestige, the card will essentially earn points that can be transferred to airlines.
The one thing to keep in mind is that if you want to transfer the points earned on this card to the Citi Prestige or Citi Premier using the points sharing feature, that wouldn’t qualify for the 10% refund on redeemed points. So personally that’s a benefit I don’t put that much value on.
How much is a Citi reward point worth?
Personally I think Citi ThankYou points are worth 1.7 cents each when they can be transferred to an airline or hotel partner. Personally that’s what I value all the major transferrable points currencies at.
So the points you earn on the Citi Rewards+ Card can be worth that if you have the card in conjunction with one of the other cards above.
However, independently points earned on the card are only worth a cent each, so that’s not quite as valuable if you have the card independently.
I’m really excited about the new Citi Rewards+ Card, and it’s a card I plan on picking up.
I obviously have a complicated credit card strategy to maximize rewards, and this card will complicate it even further, as I’ll always be thinking about whether I should use this card for a purchase based on the round-up feature.
I’m also happy to see Citi building more of a card ecosystem. One of the great things about Amex and Chase is how many personal and business cards they have that earn their transferrable points currency, while Citi has a much more limited portfolio. Citi is moving more in the direction of Amex and Chase in that regard, which is exciting.
What do you make of the new Citi Rewards+ Card?