Citi ThankYou Preferred Card Review

Citi ThankYou Preferred Card is a rewards credit card issued by Citibank. If you're wondering whether Citi ThankYou Preferred Card is the right card for you, read on. This is everything you need to know to make a good choice.

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• Competitive APRs. Citi ThankYou Preferred Card has a variable purchase APR that ranges from 14.99% up to 24.99%.
• No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Citi ThankYou Preferred Card charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple credit card benefits. Includes generous credit card perks, such as price protection, purchase protection, and fraud protection.
• Good or better credit required. You should probably try with another card if your credit score is below 700.

The Good	The Bad
Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 15 months. No annual fee. Multiple credit card perks. Cardholders can earn rewards on purchases everywhere Citi ThankYou Preferred Card is accepted. Citi ThankYou Preferred Card reports to multiple credit bureaus.	Requires good to excellent credit. Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 3% balance transfer fee.

Is there a Citi ThankYou Preferred Card cash back or rewards program?

Citi ThankYou Preferred Card offers a rewards program to its customers.

Citi ThankYou Preferred Card Rewards

Minimum rewards rate (all purchases)	1x
Max rewards rate	2x
Annual rewards limit	N/A

What are the Citi ThankYou Preferred Card benefits?

Citi ThankYou Preferred Card provides the following benefits:

• Price Protection
• No blackout dates when redeeming miles
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for Citi ThankYou Preferred Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Citi ThankYou Preferred Card has lower than average purchase APRs.

Citi ThankYou Preferred Card has a variable purchase APR that ranges from 14.99% up to 24.99%. The card has a variable balance transfer APR that ranges from 14.99% up to 24.99%. It also has a variable cash advance APR starting at 26.74% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for Citi ThankYou Preferred Card?

The following fees apply to Citi ThankYou Preferred Card:

Citi ThankYou Preferred Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	$35
Late Payment Fee	$35

Does Citi ThankYou Preferred Card report your account activity to credit bureaus?

Yes, Citi ThankYou Preferred Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Citi ThankYou Preferred Card

• Visit the Citi ThankYou Preferred Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.