Update: This offer is no longer available, but you can see our review of the Citi ThankYou Credit Cards.
With the holidays approaching, Citi is launching a limited time edition of its Citi ThankYou(R) Preferred Card. With this offer, you can earn up to 40,000 ThankYou points worth $400 in gift cards. Here’s how it works:
Earn 20,000 bonus ThankYou points after you make $3,000 in purchases within the first 6 months after account opening. Earn an additional 20,000 bonus points after you spend $3,000 in purchases within the next 6 months. That’s a total of 40,000 bonus points in the first 12 months — good for $400 in gift cards!
When using your Citi ThankYou℠ Preferred Card -$400 in Gift Cards, you’ll also receive one Thank You point for every dollar you spend. Thank You points can also be earned in the following three ways:
- Receive an Anniversary Bonus every year you’re a cardmember
- Earn bonus points for enrolling in Account Online and signing up for Paperless Statements
- Get extra points when shopping through the ThankYou Bonus Center
You may notice that 40,000 bonus points equaling $400 in gift cards is a 1% conversion rate, but if you’re interested in getting cold hard cash, you do have other options for redemption. Depending on what you’re looking for, you can redeem your ThankYou points for travel, toward a mortgage or loan payment or for cash (or a statement credit). The breakdown of how valuable ThankYou points are for these redemptions are as follows:
- A $50 mailed check will run 8,000 rewards points
- A $50 statement credit will cost 7,500 rewards points
- A $50 payment toward a loan or mortgage will require 6,400 points
The purchase and balance transfer APR is 12.99% – 22.99% variable based on the applicant’s creditworthiness. No annual fee is associated with this card, which is rare when considering the size of the initial bonus.
The Citi ThankYou Preferred Card -$400 in Gift Cards and its limited time $400 gift card bonus offer is a great option for consumers looking to acquire a new line of credit. Make sure that if you do choose this card, you keep your spending habits in check and pay your balance off in full every month to minimize interest owed. For more information or to apply online, visit the official Citi ThankYou℠ Preferred Card -$400 in Gift Cards website.
Published or updated February 28, 2013.