[Update] Citi Rewards+ Credit Card: Minimum 10 Points/trx, 20,000 Signup Bonus, 10,000 Redemption Points, No Annual Fee


Update 4/5/22: The signup bonus is now 20,000 points after spending $1,500 within 3 months, updated below (see other past offers here). They also added a new signup perk for a limited time to get 5 ThankYou points per $1 spent on air travel and hotel purchases up to $6000 for the first 12 month. (ht Lrdx)

Card Details

Direct link to offer

Today Citi launched a new credit card called the Citi Rewards+.

The most unique part of the card is the round up feature which rounds up the amount of points earned to the nearest 10. This means two things: (1) every transaction will earn at least 10  points, even a $1 charge at the vending machine, and (2) all transactions will be rounded up, so a $101 charge will earn 110 points.

Other key details:

  • No annual fee
  • Card earns ThankYou points
  • Earn 2x points on grocery and gas, up to $6,000 per year, then 1x
  • Earn 1x points on everything else
  • 20,000 points signup bonus for spending $1,500 within 3 months
  • Standard Citi credit card protections: Trip Cancellation/Interruption Protection, Car Rental Insurance, Travel Accident Insurance, Damage & Theft Protection, Extended Warranty, 90 Day Return Protection
  • Bonus ThankYou Points are not available if you received a new cardmember bonus for Citi Rewards+℠, Citi ThankYou®Preferred, Citi ThankYou® Premier/Citi Premier℠ or Citi Prestige®, or if you have closed any of these cards, in the past 24 months.
  • Low intro rate on purchases and balance transfers
  • 3% foreign transaction fee

Points Redemption

Another significant benefit of the card is that cardholders  receive a 10% rebate on all redeemed points each year, on up to the first 100,000 redeemed points. Maxed out this will amount to a rebate of 10,000 points per year. This puts a floor of 1.1 ThankYou points per dollar earned or 2.2 on gas and groceries.

Points can be redeemed for gift cards or through the Citi travel portal at 1 cent per point value. Importantly, the card will be a ‘basic’ Citi card which does not support points transfers; the one exception to this will be for JetBlue transfers. However, if you have a Citi card that does support airline transfers like Prestige or Premier, you’ll be able to move the points over  and then you can transfer as usual.

If you combine your Rewards+ ThankYou account with another ThankYou account, you’ll get the 10% bonus while still having the ability to do full points transfers.

Our Verdict

The minimum 10 points per transaction is interesting. It’s similar to something Chase used to have with their Freedom card which was discontinued. There were said to be people who wrote scripts to charge themselves $.01 and made thousands on the Chase Freedom thing. I don’t recommend this, and – in today’s day and age – Citi will probably be on the lookout for this immediately.

Citi is obviously looking to come up with innovative ideas to stay relevant in the competitive credit card market. The only ThankYou card currently available for signup is the Premier, though the Prestige is slated to come back soon. This card is a no-fee card and seems to be instead of the Preferred card, so that one may not be coming back. This is supposed to be a more exciting version of the no-fee card, and I’ll grant them that – this does seem more interesting and exciting than the Preferred.

A lot of people don’t signup for cards with lower signup bonuses like this one, plus, many of us won’t be eligible for the bonus due to Citi’s 24-month family rule – the rule clearly bunches the Rewards+ along with Prestige and Premier cards.

It’s already possible to product change or downgrade to the Rewards+ card, and that’s probably the  best use of this card given the fact that the signup bonus is much lower than what we’ve seen on Prestige and Premier.

Citi also launched a student version of the Rewards+ card as well. 

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