Last Chance To Take Advantage Of Citi Prestige Airfare And Hotel Benefits Before Devaluation

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As I wrote last October, the Citi Prestige card is being downgraded even more on 9/1. It certainly gives the Chase United Club card a run for its money in the battle for the most devalued card in history.

Originally Citi Prestige offered perks like American Airlines lounge access, 3 free annual rounds of golf, and the ability to spend points at a value of 1.33 cents each towards airfare or 1.6 cents each towards airfare on American. Those benefit were all killed off previously and the value for paid airfare went down to 1.25 per point.

Since then the annual fee has climbed from $450 to $495.

Starting Sunday, the value of points for paid airfare will drop from 1.25 cents to 1 cent per point.

Bizarrely, the $95/year Citi Premier card will retain the ability to redeem points for paid airfare at a value of 1.25 cents.

Additionally starting Sunday, the 4th night free paid hotel benefit will be capped at 2 redemptions per year and will no longer be bookable over the phone. You will be limited to the results and prices that appear online as opposed to discounted rates that can be booked over the phone. That means you may not save anything with a 4th night free compared to discounted rates that are available. Worse yet, stays booked starting on Sunday will no longer qualify for elite benefits and qualification.

Next month Citi will also kill nearly all of the fringe benefits on all of their cards.

Will you book anything before these changes go into effect?

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9 Comments On "Last Chance To Take Advantage Of Citi Prestige Airfare And Hotel Benefits Before Devaluation"

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Menashe

Just booked four nights in a boutique hotel for January using the concierge and renewed the card last month for $450. With the new higher rate and greatly reduced benefits, I will probably cancel before the next renewal. I’ve already redeemed or transferred basically all my Thankyou points for redemptions.

Jim

This card will be gone from my roster shortly.

mike

Every $1350 I spend on restaurants I still get a one way to hawaii. $2250 in business if that opens up. Worth holding for those 2 perks alone (added bonus from rewards+).

Cook

With a citi gold checking account fee is only $350. And with annuals rebate of $300 for travel, the annual fee could effectively be just $50.
5x points per dollar on airfare to me is invaluable. Unmatched.

Nevsky

I believe that the $350 fee will not continue and that it will rise to $495 with your next renewal. Also, additional card members are $75 each. That means I will be paying $570 for a card with the sole benefit to me being 5X for restaurants, as I get the 5X air fare with the Platinum card, which at least has some insurance, although not as comprehensive as what Citi is eliminating.

Jeff

Recently got an offer from Citi, if I open a checking account, I get 25% bonus on all TYP that I earn on my card, for 6 months. Offer said that the points will be 1099’ed. I’ve read the post on DDF that is ‘mechalek’ between bonus points for bank signup that are taxable, and bonus points for credit card spending which is really a rebate on already taxed money, so it is not taxable. Any idea if Citi actually send the 1099 to IRS. I would presume that these points would not be taxable income, because they are just a bonus on points that I’m earning for using the credit card, which is just a bigger rebate on already taxed money, but I don’t need the hassle of having to answer to the IRS why I didn’t report money which was 1099’ed

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