As you may know, the Citi Prestige card has a number of benefits that are scheduled to end later this month. Among the benefits ending or changing on July 23rd are:
- No more free golf benefit
- No more redemptions for 1.6c per point with American Airlines (all travel redemptions will instead be 1.25c per point
- The fourth night free will become the average cost per night over four nights (rather than the actual cost of the fourth night) and this will no longer include taxes
- No more Admirals Club access
Those changes were announced nearly a year ago. It has recently been rumored Citi would be announcing some new benefits for the Citi Prestige card and that those new benefits are thought to be launching on July 17th, ahead of the end of the aforementioned changes. Citi has been tight-lipped about what those changes may be, and speculation has ranged from new bonus categories to the addition of American Airlines as a transfer partner (though I think the latter is unlikely). Greg is betting on an announcement of 1.5c per point in value towards travel to keep the card competitive with other premium cards. Well, Doctor of Credit has reported the latest from the rumor mill and word on the street has it that these may be the new Citi Prestige benefits launching on July 17th:
- New card will be metal
- Shoprunner membership will be included
- Citi Thank You points will be worth 1c each towards cash or gift card redemptions
- Citi Thank You points can be used towards the 4th night free benefit
This has yet to be substantiated and there is no word as to whether or not this is the entire list of benefits. Furthermore, we have no idea how something like using Thank You Points towards the 4th night free would work — would you get 1c per point in value and then get the 4th night back? That sounds like 1.25c in value. Would you get 1.5c per point in value and then get the 4th night back? That might be more intriguing and an interesting response to the Amex pay-with-points rebate. I’m not sure that it would be appealing, but it would be innovative.
Overall, I hope for more from the changes. Shoprunner is already included with all Amex cards. While metal will certainly give the card a more premium feel, it won’t replace the value of some of the lost benefits. One cent per point towards cash redemptions made me look up the current rate — did you realize cash redemptions are an abysmal 0.5c per point currently? A cent per point is pretty standard for bank points — even Capital One has got them there. If this is the extent of Citi’s planned enhancements, I hope they have hired some extra staff for the retention department on the morning of July 17th :-).
That said, I will likely keep the card for the trip delay reimbursement benefit, which makes this my go-to card for booking paid flights. Between the annual $250 credit, the occasional 4th night free, and the generous 3-hour travel delay benefit, I still find this card to be a keeper for me. I suspect that not everyone will feel that way.
What do you think about these rumored changes to the Prestige Card? Would you keep it if these are the changes? What additional benefits do you think might be added?
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Am I the only one the prefers plastic cards to metal ones?
1) Metal cards have to be taken out of the pocket to go through a metal detector.
2) Metal cards are difficult to destroy
3) Metal cards can’t be used in places that take a credit-card imprint (such as aboard Via Rail)
4) Metal cards are painful to carry in my trouser pocket, and cause faster wear and tear to wallet and pockets
Those new “benefits” are a joke. Downgraded my Prestige last year to a no-fee card, and I’m feeling no regrets.
The problem from my perspective is that they are messing with the actual value of the points with the 1.25 cpm change. This makes me not want to accumulate these points at all. Since they lack the breadth of transfer partners of the other programs, this makes the 1.25 all the more important. So 3x categories are really only 3.75% which is worth less than 2 Amex points for example. So even in airfare where people like the $500 trip delay coverage of the Prestige, you will only get 3.75% back in points vs. like 10% back from Amex platinum. Giving up that kind of value on all of your tickets really means you must cash in the trip delay benefit at least once in a year to be better off.
Nick:
I read somewhere that you could use the TY points to buy an AA ticket at the 1.6 cents rate and then cancel the ticket to perserve the value and use the credit later. Not sure where I read that. I am not elite AA member. What are you r thoughts? Will that work? How long would the credit be good? Thanks
Sub
A big nothingburger
A big disappointment… shows yet again how Citi has trouble playing ball with the big boys
@Beth likely didn’t get any offers at all.
In order they were offered:
1.$200 statement credit if I spent $4000/month for 3 mos
2.10,000 TYP after $3000 spend in 6 mos
3. $50 statement credit each of next 7 billing Cycles when I spend $1500
4. Additional TYP per $1 on travel purchases for six months to max 10,000
5. Additional TYP for all purchases for 6 mos up to 50,000
>$50 statement credit each of next 7 billing Cycles when I spend $1500
Wow, so $350 total if you put $1500 on your card each month? If I got that I’d probably keep it.
Thanks so much for taking the time to inform us. Which option did you choose & why?
TY Beth.
My annual fee is $350 because I had citigold account.I have a reservation this fall with the 4th night free and combined with the travel credit I planned to keep the card. I therefore selected the $50 per month credit as it is more than 3% rebate on $1500 spend each month . I found it interesting that the offers are so different . Number 4 is a terrible offer compared to number 5– so keep saying “anything else?”
Sorry, but I don’t see value in these rumored tools. I get more value than 1.5 pennies a point with transfers to Flying Blue (with Business Class) and, even, Virgin Atlantic (when settling for with Premium Economy for one-way flights to London).
If you’d never have paid for business with Flying Blue you really can’t say you’re getting 1.5 cents/point. Or, riddle me this, suppose all transfers disappeared but I offered you the ability to exchange your points at 1.5 cents a piece for cash. When you exchanged for cash, what would you want to do with the money?
I got the card in the first place because of the golf benefit. Both myself and my wife. We will probably cancel before AF.
@Beth. What were your 5 offers? That would be great data points for the rest of us if you are willing to give us more info.
Disappointing “improvements”
I called today for retention offer and got five offers to chose from. I cited the changes to the card benefits and didn’t have to listen to a list of pitiful improvements like you will if you wait til after July 14 to call
Would you mind sharing the offers please Beth. My AF is due next month and it would be helpful to be prepared.
Flying from the West Coast to Europe, I really don’t want to fly coach when traveling east-bound. At a minimum I want to fly in premium economy with red-eye flights to Europe. But I would prefer to fly in Business, and Flying Blue has decent access to seats on Air France, KLM and Delta, all with nominal cash co-pays. …That said, if flying Premium Economy, I only need to burn through 27,500 points and $149 to fly non-stop from the West Coast to London, which I feel is a bargain. …To your point, though, if TY points had a value of 1.5 cents with all airlines, I could spend 27,500 TY points and around $288 to buy a Premium Economy seat from the West Coast to Europe on Norwegian Air. …So, in this example, I guess I would be happy to get 1.5 cents per TY point for purchased tickets. Even from the West Coast Norwegian Air flies non-stop to London, plus several other cities, which would provide great flexibility.
To clarify, Virgin Atlantic only charges 27,500 plus $149 to fly from the West Coast to London. Air France charges 55,000 points plus around $140 to fly from the West Coast to Paris.
If that’s all they got, well then, it’s time for cancel city.
I don’t see value in any of those 3 improvements. I say 3 because I don’t see any benefit from a card made of metal – I don’t display my credit cards to admiring friends. I really hope they would expand partner airlines for mile exchanges – that would be a benefit worth touting.