Looking for a rewards credit card with no annual fee and the ability to earn points for every dollar spent? Want a card with an introductory 0% APR that lasts for a year? Normally you have to pick a card with either great rewards or a 0% offer. Citi currently offers a rewards card with both of these benefits. Called the Citi ThankYou® Preferred Card – Earn 20,000 Bonus Points, here’s what you need to know.
Purchases with the card earn ThankYou® Points as follows:
- 2 ThankYou® Points for every dollar you spend on dining at restaurants and entertainment;
- 1 ThankYou® Point for every dollar you spend on all other purchases.
The 2x rewards feature makes this card ideal for those wanting to earn rewards on purchases at restaurants and on entertainment. Restaurants include fast food restaurants to fine dining establishments. Entertainment is defined broadly as purchases made for live performances (e.g., concerts, theater, sporting events), movie theaters, amusement parks and cultural events (e.g. zoos and museums).
In addition, you can earn 20,000 bonus ThankYou® points after you make $1,500 in card purchases within 3 months of account opening – redeemable for $200 in gift cards or other great rewards.
Introductory 0% APR
The card also offers an introductory 0% APR on purchases and balance transfers for 12 months.
No annual fee: Citi has managed to pack a lot of rewards into this card without charging an annual fee.
Redeem ThankYou® Points for merchandise, travel rewards, gift cards, cash and more: The fact that you can redeem your ThankYou® Points for cash is a significant benefit. But you can also use the rewards for just about anything.
No expiration and no limit on the points you can earn: You can be happy knowing every dollar you spend is working for you (not just some of them) and you don’t have to worry about losing your points.
A note of caution: you will need excellent credit to qualify for each of these cards.
If you like the idea of earning points no matter how much you spend or where and don’t want to pay an annual fee, both of these cards is worth a look. The right card for you will depend on which specific feature (e.g. balance transfers, bonuses) is most important to you.