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Wednesday, July 24, 2024
HomePointsCredit CardsKeep Vs. Cancel: Citi Prestige

Keep Vs. Cancel: Citi Prestige

I am going to look at this post one day and ask how I ever paid $495 for a credit card. It made sense at the time when I applied last year (see Citi Prestige: No Amex Platinum? No Problem). This is the second time I’ve had the card and the second time I am canceling (see Keep vs. Cancel: Citi Prestige). Back then I was too frugal to pay $350 for the annual fee, and back then the card came with the real 4th Night Free benefit, Admirals Club access, and free golf. Now all that’s left that I use is the $250 travel credit and access to the Priority Pass network. I’m not going anywhere thanks to this lockdown (see Canceled! TPOL’s Move to Albania) making these benefits useless.

The problem I will have in 2021, when I predict I will be able to travel again, is redeeming my points. Since I downgraded to the Citi Plus card, I can no longer transfer my points to airline partners. By then I’ll either upgrade, or maybe Citi will abolish the stupid restrictions on applying for a bonus again. It will be interesting to see if card issuers continue to increase the annual fee on these cards while cutting their benefits. Right now, it seems crazy to spend $495 on anything that is not essential. I expect the trend of canceling cards to continue.

Retention Offer?: The retention chat took one day to receive a response. And the retention offer was $0.00.

a screenshot of a card
I’ll have a credit balance when this $495 is refunded.

TPOL’s TIP: Link your Citi+ ThankYou account to your Citi Prestige ThankYou account. Otherwise, your points will expire in 60 days. Stupid right?



  1. Even if you transfer Thank You points from a soon-to-be closed account to another account that will remain open, the points that were transfered will still expire in 60 days.

  2. 2 tips: 1) transfer the points to me or the Queen; 2) Remember not to spend $495 on things that are not essential AFTER this passes. It has been amazing to sit at home and watch our expenses vanish. I suspect the economy will be very slow in recovering as millions of people come to the same realization that many expenses are wholly unnecessary and a basically waste of money. In other words, become more of a cheapskate than ever.

  3. I have tons of TY points so interested in keepng the card alive. The devalautions have really made this card a loser. i called for a retention offer and they gave me $250 for $5,000 spend in 90 days. Easy for me to do that. Combined with the $250 travel credit, the card is free. For free, I’ll keep it.

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