Starting in January, the Citi Prestige Card C, -1.25% will offer card members five 5X points for every $1 spent on dining out and air travel purchases. Last August, Citi temporarily stopped signing up new members for the card in advance of its current re-launch, travel website The Points Guy reported.
The Citi Prestige is now “more of an airline and dining card, whereas it used to cater to hotel guests,” said Ted Rossman, industry analyst at CreditCards.com.
A spokesperson for Citi did not confirm the Prestige Card’s new annual percentage rate (APR), but the card previously had an APR range from 17.49% to 25.49% for new members.
Here are other benefits:
- 3X points on hotels and cruise line purchases.
- 1X points on all other purchases.
- A $250 credit for all travel purchases (previously the travel credit only applied to air travel).
- Starting in May 2019, card members will receive cell phone protection plans that cover theft and damage if the monthly mobile bill is paid with the Citi Card.
With these changes, the Prestige Card is more competitive in the premium card space, Rossman said. The 5X points on air travel “is a shot across the bow of the Chase Sapphire Reserve, which only offers 3X, and on par with the Amex Platinum,” he added.
The Prestige overhaul also makes the card more competitive with other premium card dining rewards. The American Express Gold Card, Capital One Savor Card COF, -1.97% and the Uber Visa Card V, -0.73% all offer 4X points or 4% cash back on restaurants. However, the Hilton Honors American Express Aspire Card ...