Citi is revamping its Premier and Preferred cards. Citi Premier gets new earning categories, and spending points on paid travel will no longer be as lucrative (making points-to-miles transfers the only good option). Citi Preferred is getting new bonus categories.
Currently Citi Premier offers,
- 3x on on travel including gas stations, as well as airfare, hotels, car rental agencies, public transportation, tolls, and parking
- 2x on dining and entertainment
Beginning August 23, 2020, it will earn 3x at supermarkets and restaurants (including takeout), 3x on air travel, hotels and gas stations. And it will introduce a $100 credit on a $500+ hotel stay (excluding taxes and fees) once per calendar year when booked through thankyou.com.
It will be losing 3x earning on other travel (non-air, hotel, gas) which means it will no longer earn 3x on cruises, tolls, or parking. It will also be losing 2x on entertainment. (Existing cardholders will keep these bonus categories until April 10, 2021.)
Effective April 10, 2021, cardmembers will no longer receive 1.25 cents per point on travel booked through Citi’s ThankYou Travel Center. The value will be reduced to 1 cent per point.
They plan to continue offering a 60,000 limited time bonus offer after making $4,000 in purchases with the card in the first three months of account opening, and are not changing the annual fee.
Meanwhile effective August 23, 2020 existing Citi Preferred cardmembers will earn 2x on cable and popular streaming services and on live entertainment (but social distance!) in addition to the current 2x on restaurants.