Citi Rewards+ Card 2021 Review

If you’re looking to get started with a rewards card, the no-annual-fee Citi Rewards+® Card seems like an intriguing option. You’ll earn 2 points per dollar spent at supermarkets and gas stations for the first $6,000 per year, and 1 point per dollar spent after that. And, the card’s most unique feature—that it rounds up to the nearest 10 points on every purchase, could have you mentally counting up your future points potential. There’s a welcome bonus too: For a Limited Time, earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.

But on closer examination, that earnings structure can easily be beaten by multiple other cards. And, although it touts that it rounds up the nearest ten points on every purchase, in the end, that won’t amount to as much as cards that pay bigger rewards from the get-go.

But, if you’re already a cardholder of the Citi Prestige® Card*, pairing the Citi Rewards+® Card could help you squeeze a smidge more points-earning power out of your spending. How? Since you can pool your ThankYou points between multiple cards, you can pair the cards strategically, using the one that earns the most points depending on what type of purchase you’re making.

For example, the $95-annual-fee Citi Premier® Card offers the following rewards: 3 points per $1 spent at restaurants, supermarkets, gas stations, air travel and hotels. All other eligible purchases earn 1 point per dollar.

The same logic would apply to pair the Citi Rewards+® Card with the Citi Prestige Card, which has an annual fee of $495 and earns 5 points per dollar spent on air travel and restaurants, 3 points per dollar on hotels and cruise lines and 1 point per dollar on all other spending. Again, using the Citi Rewards+ gives you a slight nudge above the ho-hum 1 point per dollar rewards rate you’d earn on everyday spending with the Citi Prestige. If you also owned the Citi Rewards+® Card, the smart move would be to use the Citi Rewards+ on all other spending outside of the Citi Premier’s elevated rewards categories, since it effectively earns a few extra points on nearly every purchase thanks to the round-up feature. A small purchase, like a $2 coffee, will earn 10 points. However, a larger $599 purchase would only earn 600 points after the roundup.

Is it worth juggling cards to earn an extra few points on some of your spending? That will depend on your own personal preference for managing multiple accounts and how much you tend to use credit cards for even small purchases. If you’re looking to wring as much value as possible on every bit of your expenditures, all the rounding up in the world won’t make up for the poor cash-back value of those hard-earned points.

• $0 Annual Fee
• You can For a Limited Time, earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
• Earn 2 points per dollar spent at supermarkets and gas stations for the first $6,000 per year, and 1 point per dollar spent thereafter
• Earn 1 point per dollar on all other spending
• 10% Points Back for the first 100,000 ThankYou® Points you redeem per year

Earning Rewards

The Citi Rewards+ offers the following rewards rates:

• Earn 2 ThankYou® Points per dollar spent at supermarkets and gas stations for the first $6,000 per year and 1 point per dollar spent thereafter
• Earn 1 ThankYou® Point per dollar spent on all other purchases
• Round-Up to the nearest 10 points on every purchase—with no cap
• Get 10% Points Back for the first 100,000 ThankYou® Points you redeem per year

It also comes with a welcome bonus: For a Limited Time, earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com

Redeeming Rewards

Hold on tight, the redemptions on this card are a doozy. Redeeming the rewards earned on Citi Rewards+ will yield different values depending on what you use them for. Here’s what your stash of ThankYou points can be traded in for:

• As a statement credit – Your points are worth half a cent. You can redeem in increments of $10, $15, $25, $50, $100, $175 and $250.
• As straight cash back – Get a check mailed to you, and your points are worth half a cent. You can only redeem in increments of $50 and $100 only and checks are valid for one hundred eighty days.
• For merchandise – Used towards a qualifying purchase, points are worth 0.88 of a cent. Citi lists the value as 0.8 of a cent per point but you also get 10% of your points back on that first 100,000 ThankYou Points you redeem per year.
• For a mortgage payment or student loan payment – If you redeem this way your points will be with one cent each. You’ll have to call a Citi rep and handle this via phone—it’s not possible online.
• For travel bookings – A point is generally worth one cent when redeemed for travel via the ThankYou Travel Center. One notable exception is if you redeem for air travel by calling the ThankYou Travel Center. Although a point is still worth a cent this way, you’ll also have to inexplicably pay a $23 fee per ticket booked this way.
• For the Shop With Points program – You can make purchases at select retailers directly using your points at a value of less than one cent each. As of this writing, you can use Shop With Points at Amazon, Expedia (hotels only), Live Nation, and PayPal. At BestBuy.com and 1800Flowers.com, you’ll get a statement credit after making the purchase and redeeming your points.
• For a gift card – If you use your points to buy a gift card through the ThankYou Center, points are generally worth about a cent each.
• Transfer to travel partners – You can transfer ThankYou Points to one of Citi’s transfer partners if you have an eligible premium card like the Premier or the Prestige. Citi’s transfer partners include:
• Aeromexico Club Premier
• Asia Miles
• Avianca LifeMiles
• Emirates Skywards
• Etihad Guest
• EVA Air Infinity Mileage Lands
• Flying Blue Air France KLM
• Intermiles
• JetBlue True Blue
• Malaysia Airlines Enrich
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• Singapore Airlines KrisFlyer
• Thai Airways Royal Orchid Plus
• Turkish Airlines Miles & Smiles
• Virgin Atlantic Flying Club

Rewards Potential

To determine the rewards potential of the Citi Rewards+ card we have to look at the bonus categories and calculate what a typical household might spend in those areas. Forbes Advisor uses data from various government agencies in order to determine both annual expenses and spending averages across various categories.

The 70th percentile of wage-earning households brings in $100,172 annually and has $52,820 in standard expenses. Assuming 50% of such expenses are charged to this card, total annual card spending would be $26,410. To arrive at this number, Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories.

For a household spending $26,410 annually on the Citi Rewards+ card, approximately $5,687 is spent on groceries and $2,687 on gas. At two points per dollar up to the first $6,000 in annual spending, and 1 point per dollar after that, you’d net 14,374 points. Since all other spending earns 1 point per dollar, you’d earn an additional 18,036 points for a total of 32,410.

Plus, there’s the first year welcome bonus. These numbers are before considering any redemptions, which are all subject to a 10% rebate up to the first 100,000 points redeemed in a year.

The Citi Rewards+ comes with the following offer: 0% Intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 13.49% - 23.49%, based on your creditworthiness. A balance transfer fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, will apply.

• Citi Entertainment: Get special access to purchase tickets for live entertainment including concerts and sporting events, including presale tickets and exclusive experiences
• Citi Concierge: Access to a staff of experts to help with a variety of tasks
• Points Rebate: Get 10% points back on all redemption options for the first 100,000 ThankYou Points you redeem per year

Interest Rates

• Regular APR: 13.49% - 23.49% (Variable)
• Purchase Intro APR: 0% intro for 15 months on Purchases
• Balance Transfer Intro APR: 0% intro for 15 months on Balance Transfers

Fees

• Annual Fee: $0
• Balance Transfer Fee: 3% of each balance transfer; $5 minimum.
• Cash Advance: 5% of each cash advance; $10 minimum
• Foreign Purchase Transaction Fee: 3%

Citi Rewards+® Card vs Chase Freedom Flex℠

If you’re looking for an all-purpose card that earns elevated rewards across a broad swath of categories, the Chase Freedom Flex could be the needle in the haystack you’ve been searching for. For an annual fee of $0, you’ll earn 5% cash back on travel booked through Chase, 5% back on up to $1,500 on combined purchases in bonus categories each quarter you activate, 3% back on drugstores and dining and 1% back on all other eligible purchases.

Rewards comes as Chase Ultimate Rewards, a highly flexible currency that can be redeemed for cash back, travel, gift cards, merchandise or combined with rewards earned from a Chase Sapphire Preferred® Card or Chase Sapphire Reserve® and transferred to one of Chase’s travel transfer partners.

Citi Rewards+® Card vs Capital One SavorOne Cash Rewards Credit Card

Capital One SavorOne Cash Rewards Credit Card, like the Citi Rewards+, has a $0 annual fee. Cardholders will earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery stores (which excludes superstores like Walmart and Target) and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023

New cardholders receive 0% intro APR on purchases for 15 months. A 14.99% - 24.99% variable APR applies after that. The SavorOne also has several other perks including no foreign exchange fees.

Citi Rewards+® Card vs Bank of America® Customized Cash Rewards credit card

If groceries and gas eat up a big chunk of your budget, consider the Bank of America® Customized Cash Rewards credit card card. It earns 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.

Even though the 3% and 2% categories are capped, you’d still earn more overall than you would on the Citi Rewards+® Card, which caps the bonus rewards on groceries and gas at a combined $6,000 in annual spending.

If you’re part of Bank of America’s Preferred Rewards program, your earnings will get an additional 25%, 50%, or 75% rate boost depending on which tier you qualify for. Other card perks include a 0% introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, a 13.99% - 23.99% variable APR will apply. A 3% fee (min $10) applies to all balance transfers, and a welcome bonus of $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

The Citi Rewards+® Card isn’t a bad card, it’s just that there are plenty of other options available that add up to more. Unless you’re a Citi loyalist or you’re just looking for a ThankYou points-earning addendum for an existing Citi rewards card, choose an option that has more to offer.