Citi® ThankYou® Preferred Rewards Card Review

The Citi® ThankYou® Preferred Card offers new cardholders a 0% introductory APR for twelve months. Rewards are limited to one point per dollar, but with no annual fee and great reward redemption options, the card will be a good fit for some.

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The Good

Great introductory interest rate

The Citi® ThankYou® Preferred Card offers a 0% introductory APR for the first twelve months of card ownership. After that, the variable APR will be 12.99% to 22.99% based upon creditworthiness. Although introductory rates like these are fairly common among the best rewards credit cards, there are numerous cards on the market without an introductory rate. If used appropriately, the intro APR can be a great asset and help you save money.

Respectable sign-up bonus

With the Citi® ThankYou® Preferred Card, new cardholders will receive 15,000 bonus ThankYou® Points after $1,000 in card purchases within three months of account opening, which is enough for $150 in gift cards or other great rewards. Sign-up bonuses are a nice feature of many of the top rewards cards, but in some cases, cardholders have to spend several thousand dollars in order to qualify. If you use your Citi® ThankYou® Preferred Card with any regularity, that 15,000-point bonus is definitely within reach.

No annual fee

Many of the top rewards credit cards require cardholders to pay an annual membership fee in order to use the card, with some reaching as high as $450. One great feature of the Citi® ThankYou® Preferred Card is the lack of an annual fee. If you are looking to keep expenses to a minimum, but want access to a straightforward rewards program, the Citi® ThankYou® Preferred Card may be the right choice.

Diverse redemption options

Rewards redemption is an important aspect of every rewards credit card. Some rewards cards may limit your redemption options to only a few categories, but with the Citi® ThankYou® Preferred Card, you’ll be able to redeem your ThankYou® Points for merchandise, travel rewards, gift cards, cash, and more. If you like having access to numerous reward options, the Citi® ThankYou® Preferred Card won’t disappoint.

The Bad

Limited opportunities for bonus rewards on purchases

The Citi® ThankYou® Preferred Card rewards cardholders with one ThankYou® Point for every dollar spent on all purchases. Some of the top rewards credit cards provide double and triple points for purchases like dining, gas, groceries, and more. One point per dollar is a fairly standard reward rate, and considering the card does not charge an annual fee, most cardholders will be satisfied with the ThankYou® Preferred Card offering. However, if you’re interested in earning some bonus rewards for everyday purchases, it might be worth it to shop around.

Foreign currency transaction fee

If you have a big vacation coming up, or if you travel internationally for business with any regularity, you should be aware that the Citi® ThankYou® Preferred Card charges 3% for every foreign currency transaction. For many cardholders, international travel won’t occur often and the foreign currency fee won’t be an issue. However, if avoiding a foreign currency transaction fee is important to you, the Citi® ThankYou® Preferred Card may not be the best fit.

The Details

Rates and Fees

  • Annual Fee: $0
  • Cash Advance Fee: $10 or 5% per cash advance
  • Cash Advance Rate (APR): 25.24%
  • Foreign Currency Transaction Fee: 3% per transaction
  • Introductory Rate (APR): 0% for 12 months
  • Standard Rate (APR): 12.99% - 22.99%

Penalty Fees

  • Default Penalty Rate (APR): 29.99%
  • Late Payment Fee: Up to $35
  • Minimum Interest Charge: $0.50
  • Over-Limit Fee: None
  • Returned Payment Fee: Up to $35

Balance Transfers

  • Introductory Balance Transfer Rate (APR): 0% for 12 months
  • Standard Balance Transfer Fee: $5 or 3% per transfer
  • Standard Balance Transfer Rate (APR): 12.99% - 22.99%


  • Additional Rewards for Dining: None
  • Additional Rewards for Gas: None
  • Additional Rewards for Groceries: None
  • Additional Rewards for Shopping: None
  • Additional Rewards for Travel: None
  • Bonus Points Offered: (1) Up to 3% after 2 years (2) 100 points if enrolled online (3) 100 points with paperless statements
  • Rewards Earnings for All Purchases: 1 point per $1
  • Sign-Up Bonus: 10,000 points after spending $500 within first 3 months
  • Type of Reward: Points

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