Citi Prestige Card review: No longer available but potentially worth keeping
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Citi Prestige? Card overview
The Citi Prestige? Card is still a valuable part of the premium travel credit card market despite losing numerous perks over the years. Although the card is no longer open to new applicants, its valuable earning rates and remaining perks may still make it an attractive travel rewards credit card for some current cardholders. Card Rating*: ???
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The Citi Prestige, Citi's most premium travel credit card, has undergone significant changes in the past several years. Improved earning rates in 2019 were coupled with massive devaluations, an annual fee increase to $495, stripped protections and caps on benefit usage.
Then, in mid-2021, Citi stopped accepting new applications for the Citi Prestige. Although this card isn't open to new applicants, current cardholders can continue to use and benefit from the card.
Frequent travelers will be able to get the most out of the earning rates and benefits of the Citi Prestige. With a high $495 annual fee, this card is only worth it if you know you'll take full advantage of its benefits. The Citi Prestige's most valuable perks include:
- 5 points per dollar spent at restaurants, airlines and travel agencies
- Two fourth-night-free awards a year
- An annual travel credit of up to $250
- Priority Pass Select membership
- Global Entry or TSA PreCheck enrollment fee credit every five years
If you don't travel frequently, you may be better off with a lower-annual-fee mid-tier travel card such as the Chase Sapphire Preferred? Card or Citi Strata Premier? Card (see rates and fees). And if you're looking for different top-tier luxury benefits, consider The Platinum Card? from American Express or the Chase Sapphire Reserve?.
Citi Prestige pros and cons
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Citi Prestige welcome offer
The Citi Prestige isn't currently available to new applicants. So, you can't apply for this card and earn a sign-up bonus.
However, you could apply for the Citi Prestige's lower-annual-fee sibling, the Citi Strata Premier Card.
And two of the other top travel rewards cards, the Chase Sapphire Reserve and Amex Platinum. For example, the Chase Sapphire Reserve's 60,000-point bonus (after you spend $4,000 in the first three months of account opening) is worth $1,230, according to TPG valuations. And the Amex Platinum currently offers an 80,000-point welcome offer (after you spend $8,000 on purchases on the card in your first six months of card membership) that we value at $1,600.
Related: So close, yet so far: Comparing the Platinum Card from American Express and the Citi Prestige Card
Citi Prestige benefits
As mentioned, Citi eliminated most of its travel and shopping protections and devalued certain perks in 2019. But there is still much to love about the card's offerings.
Fourth night free
The Citi Prestige fourth night free perk has long been considered the most valuable benefit of the Citi Prestige.
The fourth-night-free benefit works like this: Citi will pay for the fourth night of your stay at virtually any hotel when you book through the Citi ThankYou travel portal. However, you can only use this benefit twice each calendar year. The fourth night free is based on your average nightly rate, excluding taxes and fees.
Remember that because bookings must be made through the Citi ThankYou travel portal, you generally won't earn hotel loyalty points or receive elite benefits. And be sure to compare prices with several other booking methods, as the fourth-night free perk won't always provide the best value.
Up to $250 travel credit
Citi Prestige cardholders get a travel credit of up to $250 every calendar year for travel purchases. Specifically, you'll automatically get a statement credit for the first $250 of travel purchases you make each year.
This credit applies to a wide variety of travel purchases, including purchases from airlines, hotels, car rental agencies, travel agencies, travel aggregators, tour operators, commuter transportation, ferries, commuter railways, subways, taxis, limousines, car services, passenger railways, cruise lines, bridge and road tolls, parking lots, garages and bus lines.
If you're able to maximize this credit, it effectively lowers the $495 annual fee to $245.
Related: How credit card issuers classify travel and dining purchases
Global Entry statement credit
I love having Global Entry — it's saved me from standing in countless hours of TSA security and U.S. Customs lines. Citi Prestige cardmembers receive up to $100 credit every five years that can be applied toward a Global Entry or TSA PreCheck application fee. And when the Global Entry fee goes up to $120 in October, Citi will raise this credit value to match the higher cost.
Several other cards also offer a TSA PreCheck or Global Entry statement credit. But if you've already enrolled in either of the two programs, you can use the credit for a family member or friend's application.
Related: Global Entry fee hike is coming
Priority Pass lounge access
As a Citi Prestige cardholder, you'll also get access to the Priority Pass lounge network. The Priority Pass network includes more than 1,400 airport lounges worldwide.
Citi Prestige cardholders get a Priority Pass Select membership that provides complimentary lounge access for the cardholder, immediate family members, and up to two guests. There are some excellent Priority Pass lounges in the U.S., but most of the best Priority Pass lounges are outside the U.S.
Related: How valuable is a Priority Pass lounge membership?
Cellphone protection
When you pay your monthly cellphone bill with your Citi Prestige Card, you'll get protection against theft and damage for up to five phone lines.
The Citi Prestige doesn't offer bonus points on cellphone services, but you may want to pay your monthly cellphone bill with your Citi Prestige, to take advantage of this protection.
Related: Credit cards that cover cellphone loss and damage
Extended warranty and purchase protection
Citi Prestige cardholders get extended warranty and purchase protection when buying eligible items with their card. While these can be valuable benefits, many other cards also offer similar protections.
Related: Purchase protection saved us $1,700 — reader success story
Earning points on the Citi Prestige
An essential part of evaluating a card is assessing how easily you can earn points through spending. Luckily, earning is one area where the Citi Prestige has improved.
To coincide with the launch of Citi Travel with Booking.com, Prestige cardholders can earn 10 points per dollar on bookings for hotels, rental cars and eligible attractions when booking through the portal through June 30.
After that, you'll return to the following standard earning rates:
- 5 Citi ThankYou points per dollar spent at restaurants, airlines and travel agencies (9% return based on TPG's valuations)
- 3 points per dollar spent at hotels and cruise lines (5.4% return)
- 1 point per dollar spent on other purchases (1.8% return)
However, remember that Citi removed travel protections from its cards in 2019. So, despite the effective 9% return on airfare, I usually use a credit card that provides travel insurance when booking flights. And I typically use a hotel credit card or the Chase Sapphire Reserve when paying for hotel stays. As such, I usually only use my Citi Prestige at restaurants, cafes and bars.
Related: How to earn 5 points per dollar on dining, airfare and more with the Citi Prestige Card
Redeeming points on the Citi Prestige
Citi ThankYou points can be redeemed in various ways, of which transferring to an airline or hotel partner is the most valuable option.
You can also use your Citi ThankYou points to redeem for travel through Citi's travel portal. Doing so will usually provide less value than transferring to airline partners. But, depending on your travel goals, there may be times when doing so works best for you.
Additionally, you can redeem points for gift cards, use them to pay at select online retailers, get cash back or make charitable contributions.
Related: Is Citi ThankYou Rewards the most underappreciated and misunderstood program?
Transferring points on the Citi Prestige
You'll likely get the most value from your points if you transfer them to Citi's 18 airline and hotel partners.
If you're unsure which transfer partners are best, here are some ideas for redeeming Citi ThankYou points on Star Alliance, SkyTeam and Oneworld carriers.
Related: The best ways to redeem your Citi ThankYou points
Which cards compete with the Citi Prestige?
The most direct competitors to the Citi Prestige are two other premium travel cards.
- If you want to maximize travel points-earning: The Chase Sapphire Reserve charges a $550 annual fee but offers generous earning rates on travel and dining as well as benefits like a $300 annual travel credit, a Global Entry/TSA PreCheck application fee credit every four years and a Priority Pass Select membership. For more information, read our full review of the Sapphire Reserve.
- If you want loads of extra perks: The Amex Platinum charges a $695 annual fee (see rates and fees) but offers a suite of luxury benefits like unparalleled lounge access, an airline fee statement credit of up to $200 per year, monthly U.S. Uber Cash of up to $200 per year, biannual Saks statement credits of up to $100 per year, elite status with Marriott and Hilton and more. Enrollment is required for select benefits. For more information, read our full review of the Amex Platinum.
- If you want a premium card with a lower annual fee: The Capital One Venture X Rewards Credit Card has a moderate $395 annual fee (see rates and fees) and earns 10 miles per dollar on hotels and car rentals booked via Capital One Travel, 5 miles per dollar on flights booked via Capital One Travel and 2 miles per dollar on everything else. In addition, cardholders receive $300 back in credits annually for bookings made through Capital One Travel and access to Priority Pass and Capital One lounges. For more information, read our full review of the Venture X.
For additional options, check out our full list of the best premium travel cards.
Read more: The best premium credit cards: A side-by-side comparison
Is the Citi Prestige worth it?
The card can be worth the cost for those who use most of the Citi Prestige's benefits. When used strategically, the fourth-night-free benefit can still provide hundreds of dollars in value. The $250 annual travel credit is easy to use, plus the card's earnings on dining and flights and shopping protections can provide significant value.
Bottom line
The Citi Prestige isn't a clear-cut choice for everyone. While it offers some valuable benefits, many of them overlap with other premium credit cards. As such, it's worth carefully considering how much value you get from the Citi Prestige Card when your annual fee posts.
For rates & fees of the Amex Platinum, click here.