The Citi Prestige Card has been closed to new applicants for a while. Clearly, Citi was busy figuring out how to take on the other two big players on the market, the Chase Sapphire Reserve® and the American Express platinum card. Recently Citi Has announced a host of changes coming to the Citi Prestige through 2019.
Changes in January 2019
- The earning rate on Airfare will be increasing from 3X to 5X points
- The earning rate on dinning will be increasing from 2X to 5X points
- The cards $250 airline credit will be changing to a $250 travel credit, meaning all travel purchases qualify not just airfare
Changes in May 2019
- The Citi Prestige Card will provide a cell phone protection plan, although eh exact details of the coverage have not been released
Changes in September 2019
- The Citi Prestige annual fee will be increasing to $495 from its current level of $450
- You will no longer earn 2X on entertainment purchases
- The 25% points bonus on airfare redemptions will no longer be in place, meaning you redeem your ThankYou points for one cent apiece
- The Citi Prestige fourth-night free benefits will now be restricted to twice per calendar year
Benefits That Won’t Change
- The card will still provide Priority Pass Select Membership, and you will still be able to sign in up to 2 guests free.
- You will still receive the $100 statement credit towards TSA Pre-Check or Global Entry enrolment fees
- Current travel and protection coverage will remain the same
The Start Of a Premium Credit Car War
The new features and benefits of the Citi Prestige are a challenge to the established premium cards on the market. The new card out earns the Chase Sapphire Reserve® in key categories like travel and dining. While the Amex Platinum which once you read more about is the king of earning on Airfare, now has to share top billing with the new Citi Prestige card.
When it comes to dinning, the Citi Prestige blows all the competition out of the water. 5X points on dinning is currently the best-earning rate on the market.
The bottom line here is that competition is good for consumers. Now that Citi has raised the bar and placed a marker directly for Chase and American Express, it will hopefully only be a matter of time before chase enhances the benefits of the Chase Sapphire Reserve® and we should soon learn more more about the positive changes Amex made to the platinum card. What do you think about the new Citi Prestige Card, will you be applying for it?