General

Make $1,000 with the Citi Prestige card

Advertiser Disclosure: This site is part of an affiliate sales network and may receive compensation for sending traffic to partner sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.

NOTE: I am NOT getting paid by Citi to write this and there is NO affiliate link in this post.

I normally don’t recommend cards with hefty annual fees. But this one may be a decent deal and I’m signing up for one today through my CitiGold rep.

The Citi Prestige card has a $450 annual fee, but it’s $350 if you are CitiGold (and I believe the reduced fee requires an in-person signup at your local branch), comes with a $250 annual airline credit, a Global Entry fee credit, and a signup bonus (currently 50,000 Thank You Points with $3,000 in spend) – though rumor is that may change on Tuesday July 20th which may change this deal.

Put another way, you can get that card, get the ThankYou points worth at minimum $800 when used on American Airlines flights, use $250 in airline credits now, $250 early next year, get the $100 Global Entry credit, and then cancel.

Very important: This deal is only a great deal if you use the free $250 airline credit benefits in two calendar years while only paying one year’s worth of annual fees.

So let’s run the math on how you (we) can win on this big time.

Cost: 

If you are CitiGold: $350 fee – $250 (airline credit) – $250 (airline credit)  – $100 Global Entry credit – $800 (ThankYou points value).  $1,050 gain.

If you do not have CitiGold: $450 fee – $250 (airline credit) – $250 (airline credit)  – $100 Global Entry credit – $800 (ThankYou points value).  $950 gain.

Even this analysis over simplifies, though, because ThankYou points can also be transferred out to frequent flyer programs like Singapore. Those 50,000 points are just about enough for a one way flight from New York to Frankfurt in a SUITE on Singapore Airlines (57,375 KrisFlyer miles+ USD 203.40) that would cost you $5,000 in cash.

I’m not going to give you some blogger hype like “This card’s signup bonus is worth $5,000!!!!!” because clearly none of us are paying that – but it also shows you ca get much more than $1,000 in value from this deal if you work at it.

Summary: I’m getting this card for the $500 in airline credits, $100 Global Entry renewal (I’m due to renew this year), and 50,000 in ThankYou points for a one time $350 fee (I’ll definitely cancel next year and go back to using my Thank You Premier card with its waived annual fee (legacy CitiGold benefit).