Citi® ThankYou® Preferred Credit Card

Citi® ThankYou® Preferred Credit Card

Credit Rating
Annual Fee
Reward Type
Rewards Points
SigUp Bonus

Main Credit Card Features

0% APR
Balance Transfer
No Annual Fee

How rewards points credit cards work

Point rewards lets you earn points on every purchase you make with your rewards credit card.  Credit card points stay in an account until you redeem them within the credit card’s portal.  Your points can be used for gift cards, cash back, a statement credit, or travel, hotel, and other rewards.

Using your credit card points for travel allows you access to many different airlines.  You could purchase your ticket with points, or use them to upgrade your experience to business or first class.  When you use your points at a hotel, you can pay for your room, move to an upgraded room, or purchase other amenities as specified. Some cards allow you to redeem your points for cash back, either in the form of a check or a statement credit.  Other programs let you purchase goods, services, and gift cards through their rewards portal.  These items may be listed at discounted prices compared to retail stores, and cost you less to purchase this way.

If you’re chasing sign-up bonuses, looking to upgrade your travel experience, or want to maximize your rewards, points are best.  Travel using points is subjected to blackout dates just like airline miles.  You also have less redemption options, and less flexibility to use the point than with straight cash back.  The value of your points depends on if the redeemed item is on sale.  You risk your points being devalued in the process.  Due to this, it can be a little complicated using points sometimes.

How Balance Transfer Credit Cards Work

This card provides an attractive APR rate if you transfer your balances from other credit cards or even loans. You can potentially save money on interest by moving your balance. This can get tricky, and you need to keep a few things in mind:

  • Take into account the balance transfer fee.
  • Understand that your credit score gets impacted every time you open a new credit card account, so you won’t be able to use a balance transfer card every few months.
  • The new credit card might not have enough credit limit to cover all your existing high-interest debt.
  • You are still required to make monthly minimum payments.
  • Using the card for daily transactions is problematic. This is due to the way your monthly payments apply to different principals.

Use our balance transfer calculator to estimate your possible interest savings.

How No Annual Fee Credit Cards Work

A no annual fee credit card is excellent as a backup credit card as you don’t need to pay to maintain it. You might need a backup credit card if your primary one got lost or stolen. Another benefit of a no annual fee credit card is that you can improve your credit to debt ratio if you don’t use it consistently. You may also consider this card if you are looking for a specific perk.

How 0% APR Credit Cards Work

This card provides an attractive APR for balance transfers and purchases during the promotional period. You can save money on interest through the use of this card. Please, remember that even though it is 0% APR, you are still required to make minimum payments. If you are looking to use this card to transfer balances from your other higher interest cards, take into account the Balance Transfer Fees. You can use a simple calculator down the page or visit our balance transfer calculator.