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Citi® Premierpass(SM) Card Review
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| Written by renxue
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| January 21, 2008 13:26
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Summary - We recommend the Citi PremierPassSM Card to the frequent flyer because this is the only travel reward credit card that lets you earn points not just from the dollars you spend, but also from the miles you fly. The key highlights of this card are:
You earn points not just from the dollars you spend, but also from the miles you fly (at a rate of 1 point for every 3 miles flown) You will earn miles if you pay for your companion's ticket There are no blackout dates for airline ticket redemption
Let us look at this card in greater detail.
Reward Formula - The Citi® Premierpass(SM) Card has a very unique and innovative reward system when you purchase an airline ticket through your credit card. You earn points not only from purchasing an airline ticket, but also from the miles that you fly (at a formula of 1 point for every 3 miles). You will also earn miles separately with your frequent flyer program. You also earn points and miles when you pay for your companion's ticket. Points are earned at a rate of one point for every dollar you spend. Points will not expire as long as your account is active within 36 months. You can earn up to 100,000 points in a calendar year (of which only 50,000 can be flight points - ie points you earn from the miles you fly). You also get a 5,000 points after your first purchase.
The underlying reward program of the Citi® Premierpass(SM) Card is based on Citi's ThankYou Redemption network, which is a comprehensive program with travel, shopping, cash rebate and even APR reduction rewards.
Annual Fee and APR - There is no annual fee and and the APR at Prime Rate plus 5.99%. You also get a 0% APR for 12 months on balance transfers from the date of transfer as long as it is transferred within 12 months (A balance transfer fee applies with this card).
ThankYou Redemptions Network Program - The Citi® PremierPass(SM) Card's reward program is the ThankYou program, which is a great all round reward program. It has a unique travel rewards program for airlines. Cardholders have two choices. Firstly, you have a variable flight option plan where they can book any ticket or itinery online through expedia. The number of points required to redeem for your ticket purchases will depend on the price. But you will have the flexibility to book any tickets you want.
The other options is the fixed flight option whereby the number of points for a particular destination is fixed. At this moment, the ThankYou Redemptions have one of the best deals in the market. For example, you only need 20,000 points for an airline ticket within the continental US or Alaska versus 25,000 points for most program (In this example, 20,000 is good for up to a $400 value ticket). If the ticket cost more, then you can use points to make up the difference. For example, if it cost $450, then you need an additional 5,000 points. With this program, you need to book your tickets through a thankyou specialist over the phone. There are also no seat limits, blackout dates, advance booking requirements or saturday night stays requirements.
However, to qualify for the fixed flight option, you either have to a Salomon Smith Barney FMA client, have a citibank account or have an eligible citicard. The Citi PremierPass Card is an eligible card for the fixed flight option.
Verdict - We recommend the Citi PremierPassSM Card to those who travel frequent frequently, pay their bills fully and are looking for a comprehensive reward credit card with no annual fee. There is simply no other credit card (other than the Citi® Premierpass(SM) Elite Card) in the market that has this unique feature of letting you earn points from the number of miles that you fly (even for your companion's ticket if you pay for it). Even if you are a frequent flier with a elite membership status, it still makes sense to get this credit card. This is because you actually earn more points from the miles you fly than from ticket prices most of the time.
The only thing you have to be aware of is that when you cannot just use your Flightpoints to redeem rewards. You have to combine both FlightPoints and ThankYou points. You must use at least the equal amount of ThankYou Points to redeem for a reward item. For example, if you wish to use 10,000 points and have some Flightpoints to use, you can use 5,000 Flightpoints and 5,000 ThankYou points. Hence, if you get this card, do not use it just for air travel, use it for your other purchases as well.
Consider getting the Citi® Premierpass(SM) Elite version - Citibank also offers a premium version of this card called the Citi PremierPass® Card - Elite Level. The elite version allows you to earn 1 Flightpoint for every mile you fly rather than just 1 point for every 3 miles. Though it has a $75.00 annual, (which is comparable to most airline credit cards), you will earn even more ThankYou points whenever you fly.
Unlimited Companion Ticket for Elite Cardholders - Elite cardholders can also get a free companion ticket when they buy an airline ticket that cost at least $299. This program is similar to the one from American Express Platinum Card. However, unlike the American Express Platinum Card, you can use this feature for an unlimited time.
Positives
Ability to earn points from miles flown aside from the points you earn buying the ticket and thes points you earn from your frequent flyer program. Earn points from miles if you pay for a companion ticket Good reward program
| Citi® PremierPass(SM) Card | | Reward Benefits | | Bonus Points | 5000 points | | Point Accumulation | 1 point per $1 spent on purchases
In addition earn 1 flight point for every 3 miles flown | | Caps on Rewards | 100,000 points per calendar year (includes both regular and flight points
Only 50,000 may come from flight points | | Expiration | none if account is active within 3 years | | Travel and Insurance Benefits | Automatic Travel Accident Insurance
Lost luggage insurance | | Other Benefits | Online Account Access
Zero liability on unauthorized purchases
Dedicated customer service
no pre-set spending limits | | Cost/Fees/Interest rates | | Introductory rate | 0% APR for 12 months (balance transfer).
Balance transfer can be done within 12 months and 0% will apply from date of first transfer | | Annual Fee | No annual fee | | Purchase APR | Prime Rate plus 5.99% | | Balance Transfer APR | Prime Rate plus 5.99% | | Cash Advance APR | Prime Rate plus 14.99%, min is 19.99% | | Penalty/Default Rate APR | Prime Rate plus 23.99%, min 28.99% | | Min Finance Charge | $0.50 | | Grace Period | 20 days | | Balance Calculation Method | Average Daily Balance (including new purchases) | | Balance Transfer Fee | 3%, min $5.00 max $250.00 | | Cash Advance fee | 3% min $5.00 | | Over-the-credit-limit fee | $35.00 | | Late Payment fee | $15.00 - up to $100
$29.00 - $100 to $250
$39.00 - more than $250 |
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