Is It Time To Say Goodbye To The Citi Prestige Card?

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I’ve been on the verge of canceling or downgrading my Citi Prestige Card a number of times over the past few years but each time I got close to making the call I either talked myself out of it or Citi put through a genuine enhancement that persuaded me to give the card another go.

Now, with my cardholder year ending in a few months’ time and with Citi having just gutted most of the Prestige Card’s protection benefits, I’m once again wondering if it makes sense to keep the card for another year.

a black and blue credit card

What Does The Citi Prestige Card Offer

Annual Fee

  • $495


  • 5x ThankYou points at restaurants worldwide
  • 5x ThankYou points on air travel booked directly with an airline
  • 3x ThankYou points for spending with cruise lines
  • 3x ThankYou points for spending on hotels
  • 1x ThankYou points on all other purchases

a cup of coffee and a card on a table

Primary Benefits

  • $250/year travel credit
  • 4th night free when a hotel stay is booked through the ThankYou travel portal (maximum 2x/year)
  • Priority Pass Select membership
  • Cellphone protection
  • $100 credit towards Global Entry/TSA PreCheck every 4 years
  • No foreign transaction fees

The Key Issue

A major reason the Citi Prestige Card got a reprieve the last time I was considering the card’s position in my wallet was the fact that Citi boosted the earings on dining and airfare to 5 points/dollar.

The enhanced earnings rate on dining expenditure was a nice bonus but the key differentiator for me was the fact that the Citi Prestige card now offered 5 points/dollar on airfare AND it offered trip delay insurance.

The Platinum Card from American Express also offers 5 points per dollar on airfare but, up until recently, it didn’t offer any meaningful trip protection benefits so the Prestige Card’s offering was superior (note: I value Cit ThankYou Points and AMEX points equally).

a close-up of a credit card


All of this has recently been turned on its head as Citi announced that the Prestige Card (along with a whole host of other Citi cards) would be losing most of its protection benefits from 22 September 2019 and as AMEX announced that the Platinum Card would be gaining travel protection benefits from 1 January 2020.

Where previously the Citi Prestige Card was the obvious card on which to put all airfare spending, now the AMEX Platinum has taken over that role.

Why would I choose to earn 5 ThankYou points/dollar and not have my trips protected when I can earn 5 Membership Rewards points per dollar and have a reasonable amount of coverage?

AMEX Membership Rewards Points transfer over to more loyalty programs than Citi’s ThankYou Points, and although Citi has one or two partner programs that AMEX does not, they’re not programs that are important enough to me that I’d be happy to forgo travel protection benefits in order to earn points that transfer over to them.

Quite simply: If I’m going to be using my Platinum Card to purchase most of my airfares going forward, the Citi Prestige Card will have to find another way to generate value for me.

Can I Find Value In The Citi Prestige Card

There are two important things to bear in mind before I proceed:

  1. I could easily make use of the $250 annual travel credit that the Prestige Card offers so my net annual fee is $245.
  2. I also hold the Platinum Card from American Express and the Chase Sapphire Reserve Card both of which offer a number of benefits that the Prestige Card offers.

The 4th Night Free Benefit

a black door with a sign on the side of a building

All bookings made after 1 September 2019 have to be made through the ThankYou portal and booking made through the ThankYou portal are viewed as 3rd party bookings by all the major hotel chains.

When it comes to 3rd party bookings…

  • Hotels will not honor any elite benefits that may have been due had the booking been made directly with the hotel/hotel chain.
  • Guests will not earn points in the hotel’s loyalty program
  • Guests will not earn elite night credits in the hotel’s loyalty program

For stays made at independent boutique hotels these aren’t issues at all, but elite benefits and hotel points all have a value and their absence significantly reduces the value of the 4th free night if a guest is staying at a chain hotel…and I stay at a lot of chain hotels.

My hotel statuses get me complimentary breakfasts, room upgrades and a significant number of loyalty points that I can put towards future stays so missing out on all of these isn’t ideal.

Priority Pass Select Membership

a black card with gold text

I get Priority Pass Select membership with my Platinum Card and my Chase Sapphire Reserve Card and while the version of the membership that the Platinum Card offers doesn’t give a credit for Priority Pass restaurant visits, the membership that comes with the Chase Sapphire Reserve does….so I’m covered.

Cellphone Protection

a cell phone with apps on the screen

The cellphone cover that comes with the Prestige Card is pretty good (more details here) but my home insurance and my American Airlines AAdvantage Aviator Red card will both cover my cellphone so the protection the Prestige Card offers isn’t significant to me.

Global Entry/TSA PreCheck Credit

At best this credit would be worth $25/year towards the annual fee as the $100 credit is only valid once every 4 years, but as I get the same credit through my Platinum Card and my Chase Reserve Card I have no need of it from the Prestige Card.


It’s incredibly important not to get irrationally attached to a credit card (which can be surprisingly easy to do) and it’s equally important to be brutally honest when working out just how much value a card will offer. If I’m to do both, I have to admit that I don’t think I’ll use the 4th night free benefit enough times to make the Prestige Card work for me.

I may not even get around to using it at all.

In my heart of hearts, I’m a 3-night-stay person so, while I was happy to book 4-night stays while the Prestige Card still allowed me to enjoy my elite benefits and to earn various hotel currencies, the same is no longer true now that they’re not an option.

The Math

As always, everything comes down to the math and I have to work out if the benefits I get from the Citi Prestige Card will cover the $245 annual fee (net of the travel credit) that I’ll be charged when my cardholder year is up.


I can’t assign a positive value to the Global Entry credit, the cellphone protection or the Priority Pass Select membership because these are all benefits I already get elsewhere.

I also cannot, with any real justification, assign a positive value to a benefit that I know I’ll only be using just to make up some of the annual fee, so the 4th night free benefit has to be valued at zero.

a deck with chairs and umbrella on a beach
Fairmont Maldives Sirru Fen Fushi – Image courtesy of Accor Hotels

I’ve already established that I’m unlikely to use the Prestige card for airfare spending and, as I can use the Chase Sapphire Reserve Card to earn 3 points/dollar on all travel spending, I’m also unlikely to need to use the Prestige card to make hotel or cruise bookings…so that just leaves the great earning rate on dining expenditure as a possible reason to keep the card.

Even without doing the math I’m pretty sure that’s this isn’t going to work for me.

I value Citi ThankYou Points at 1.5 cents each which means that the 5 points/dollar I can earn on dining equates to a rebate of 7.5 cents/dollar.

Based on that figure, I’d have to spend approximately $3,267 on dining (in a cardholder year) just to earn enough ThankYou points to cover the $245 net annual fee.

That doesn’t strike me as being a particularly good deal.

The Plan

I’m a strong believer in credit card portfolio diversification so I’m not about to give up on Citi’s ThankYou points just because the Prestige Card can’t earn a place in my wallet.

While I cannot justify the $245 net annual fee on the Prestige Card I’m more than happy to suck up the $95/year annual fee on the Citi ThankYou Premier Card which offers…

  • 3 Points/dollar on Travel including Gas Stations
  • 2X Points/dollar at Restaurants and on Entertainment
  • 1X Points/dollar on All Other Purchases

…and also doesn’t charge any foreign transaction fees.

a grey and blue credit card

Downgrading the Prestige Card to the Citi ThankYou Premier card would leave me with the following options to cover the loss of the Prestige Card:

  1. Platinum Card for airfare spending (5 points/dollar and trip protection)
  2. Chase Sapphire Reserve & Citi ThankYou Premier for all other travel spending (3 points/dollar each)
  3. Chase Sapphire Reserve for dining expenditure (3 points/dollar)

I’d also have the added benefit of being able to earn 3 ThankYou Points/dollar at gas stations and 2 ThankYou points/dollar on entertainment (courtesy of the Citi ThankYou Premier card).

Bottom Line

Yes, I know I’ve said this before and not followed through with it but this time the Citi Prestige Card really has to go (unless Citi pulls out a nice surprise before my cardholder year is up).

I can’t justify the card’s annual fee and if I downgrade to the Premier Card the only loss I’ll be taking is a net loss of 2 points/dollar at restaurants and bars..and that’s a loss I think I can live with.


  1. I had to left my Prestige card go in August. I remember the good ole days of golf, Admiral Clubs, AA redemptions, unlimited 4th nights and 3 hour flight protection….. I miss the old Prestige, I would happily pay 495 for that card, but the Prestige in its current state is not worthy of the annual fee

    • Those were halcyon days…and I’d almost forgotten that the Prestige Card once came with Admirals Club membership!

  2. Why not wait until January, use the $250 annual travel credit up, and then cancel? With Citi’s prorated annual fee refund, you’d come out ahead if you just wait a couple months.

    • I may well do that – I’ll see how the math works out (as well as taking into account a few external factors)

  3. I’m up for renewal next year and I have two trips planned through the old concierge. I’m ABSOLUTELY downgrading this card. No question.

    Them gutting benefits AND raising the AF sealed it. If I could put a stamp on the downgrade date, I would, but I have set a reminder on my calendar.

  4. I’ll get rid of my Prestige Card when it expires in April and replace it with Sapphire Reserve. I’d want to collect the airfare credits beginning with the January cycle before dumping it.

  5. This card is worthless AFTER all fourth night free bookings are reimbursed (we are due more than 20 past and future reimbursements).

  6. Just a data point. I called to cancel the prestige. I was offered 20000 pts for $4000 a month spend for the next 3 months.

  7. When my Prestige AF posted a couple months ago it was the last time with the grandfathered $350 I still have from having a Citigold account briefly when I got the card in 2015. It was a heck of a card back then, but all the cuts have just made it impossible to justify holding it. I’m planning on calling to see if I can get a retention offer in December, then I’ll be downgrading to a no-AF TYP card after using up the credit in January.

  8. I think the Premier gutted the 2x on entertainment?
    Also, what do you think its best Chase Sapphire Reserve or Amex Plat travel/delay protection? The limitation of ’roundtrip’ is a big no go for me, so I would rather earn 3x and have one way protection to 5x of the Amex Plat.

    • 2x on entertainment is still there (only gone on the Prestige).

      I agree that the Platinum’s definition of roundtrip is annoying so I’ll be switching between my Platinum Card and CSR for airfare spending depending on my routing.

  9. I am Citigold so the annual fee is only $350 and still I might cancel – as I don’t see much value in the card beyond the $250 travel reimbursement. IMHO, I think you left out two topics in your post. First, there’s the double cash (double TY point) combo with the prestige card (which might be important to some people). Second, it never hurts to make a retention call before making a definitive decision.

    • Definitely never hurts to make a retention call but if it’s along the lines of the one mentioned elsewhere in these comments (20,000 points for $12k) then I’m not going to be interested.

      As far as the Double Cash goes – won’t that pair just as well with the Premier Card?

  10. I know I will receive flack for saying this, but you should get rid of the Chase Sapphire Reserve. Retention bonuses are almost non-existent anymore. 5X on Prestige for airfare compared to 3X on Reserve. You get 3X on both for hotels. I would recommend cancelling Reserve and applying for Citibank Thank You Premier and get 3X on other travel related purchases as Reserve does but you will also earn 3X on gas purchases, which Reserve doesn’t. With the exception of Hyatt and United for points transfer, Citibank has Avianca Lifemiles which is better for redeeming for flights on United. Trip insurance is up to your personal usage. I personally have never used it on any of the cards. I have been extremely lucky with flights and travel. You can always reapply for the card later and get the bonus again. Good luck in your decision.

    • No flack heading your way at all – nothing wrong with having a differing opinion

      Giving up on the CSR = giving up on Ultimate Rewards (for me) so I’m not about to do that as UR has better transfer partners for my needs than Citi (and a lot of Citi’s better partners are already covered by AMEX).

  11. Why even bother with the Citi Premier for 3x TYP on travel when you already a CSR for 3x UR on travel? The only reason to keep the Premier in addition to the CSR is for 3x on gas. You would have to spend a lot of money on gas to justify the $95 Premier fee, especially since UR points have more value than TYP points. I absolutely hate Citi now. I can’t wait to cancel my now worthless Prestige card once I receive my final 4th night free reimbursement.

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