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Update August 13, 2018: We’ve received confirmation from Citi that the Citi Prestige is not being discontinued.
Update August 23, 2018: Applications are no longer available for the Citi Prestige, but Citi let us know they’ll be re-introducing the card to new cardholders in the near future.
There’s a lot of chatter on the interwebs regarding how much longer the Citi Prestige will be around. And although Citi won’t confirm anything of it as fact, there’s enough information out there that we know something’s up.
I contacted a number of Citi representatives, both via phone and online chat. While most didn’t seem to know anything about the rumors, one of the reps said that the Citi Prestige was set to be discontinued. And another mentioned the card was getting a refresh. A mid-August timeframe was given for these changes.
What Does This Mean for You?
The Citi Prestige doesn’t come with a sign-up bonus right now, so the only reason to get the card now is if you know you’ll be able to make the most of the card’s extra benefits. Especially given the Citi Prestige comes with a big $450 annual fee. And we don’t know the details of the potential updates coming to the card. Maybe it will offer a welcome bonus again soon?
Most of y’all will be interested in the Citi Prestige’s 4th-night free perk. When you book 4 nights, you’ll get one night refunded as a statement credit based on the average cost per night (not including taxes & fees). Simply book the hotel through the Citi ThankYou Travel Portal, or through a Citi Prestige Concierge!
For example, if you book a $500 room for 4 nights, you’ll get $500 back! So you can save thousands per year, depending on how often you use it!
But if you get the Citi Prestige now, you won’t be eligible for another Citi ThankYou branded card for another 24 months. And if you don’t plan on booking lots of paid hotel stays each year to make the most of the 4th-night free perk, or want to wait to earn an intro bonus, you’re likely better off with the Citi ThankYou® Premier Card.
That’s because the Citi ThankYou® Premier Card is currently offering a 60,000 Citi ThankYou point bonus when you spend $4,000 on purchases within the first 3 months of opening your account. The bonus alone is worth at least $750 in flights!
If you’re already a Citi Prestige cardholder, I wouldn’t panic. Usually, when a card gets updated, existing cardmembers get some sort of grace period before their card benefits change.
So we’ll have to wait and see what these rumored updates really are! And whether they will make the Citi Prestige more or less valuable for all of us in the miles & points hobby. Stay tuned!