Citi ThankYou Preferred Card Review

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The Citi ThankYou Preferred Card is one of Citi's three cards under the ThankYou rewards program. This one has a 20,000 ThankYou Points rewards bonus offer - redeemable for up to $200 in gift cards - if you can spend $1,500 in the first three months of opening your account. There's an exception - the bonus isn't available if you've opened or closed a Citi ThankYou card within the past 12 months.

Earning Rewards With the Citi ThankYou Preferred

Dining and entertainment purchases earn two ThankYou points per dollar and all other purchases earn one point per dollar.

 ThankYou points are redeemable for a wide variety of cash, gift cards, merchandise and travel. There's no limit on the points you can earn and your points won't expire as long as your account is open and in good standing. You can redeem your rewards online at thankyou.com or by calling 1-800-THANKYOU.

Citi ThankYou Preferred Pricing

There's a 0% APR for the first twelve months on both purchases and balance transfers. After that, APRs range from a low of 12.99% to 22.99%, depending on your credit history. There is a balance transfer fee of $5 or 3%, whichever is greater. The cash advance APR is 25.24% and the fee for cash advances is $10 or 5%. Transactions made in foreign currencies are subject to a 3% foreign transaction fee.

Comparison to Other Citi Cards

Like Citi's other credit cards, the Citi ThankYou Preferred Card has Citi's Price Rewind service, which allows you to request a partial refund for items that have at least a $25 price difference within 30 days of your purchase.

The Citi ThankYou Preferred Card is good for those who make lots of dining or entertainment purchases. Citi's other ThankYou rewards cards - the Premier and the Prestige - have higher rewards, but both come with annual fees.

If you prefer cash over points, check out the Citi Dividend Platinum Select Card.

It doesn't have a signup bonus, but it come with a great 0% introductory rate and pays up to 5% cashback in quarterly rotating categories and 1% on everything else.

Last updated January 14, 2014. Credit card terms and sign-up bonuses are subject to change from the time of this review. Refer to the application for current terms and conditions.