Citi Rewards+® Card
Citi Rewards+® Card
  • On Citibank's Secure Website
Citi Rewards+® Card
Citi Rewards+® Card
  • On Citibank's Secure Website

Citi Rewards+ Card Review: Decent Value for a Citi Rewards Card

Citi Rewards+ Card Review: Decent Value for a Citi Rewards Card

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Editor's Rating

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  • On Citibank's Secure Website

Editor's Rating

?

  • On Citibank's Secure Website

The Citi Rewards+® Card earns points at an underwhelming rate; however, its roundup feature gives a nice boost on small purchases, and it's a decent option for those who want to collect ThankYou® points without an annual fee.

Citi is an advertising partner

The Citi Rewards+® Card is the $0-annual-fee option in Citi's lineup of credit cards that can help you earn ThankYou points. These versatile points can be redeemed for everything from travel and gift cards to statement credits and student loan payments.

That being said, they offer average value for most redemptions, and the Citi Rewards+® Card's rewards earn rate is unimpressive when compared to some of the best credit cards on the market. People who are trying to stack Citi ThankYou points can put this card to good use, but anyone who is looking to earn big might want to look elsewhere.

Pros

  • 2x points on groceries and gas
  • Round up your points to the nearest 10 with each purchase
  • Ability to transfer points to airline loyalty programs for certain cardholders
  • Citi Flex Plan lets you take out a loan against your credit limit
  • $0 annual fee

Cons

  • Sign-up bonus isn't very impressive
  • $6,000 annual cap on bonus spending categories
  • Cash redemption options offer low value
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Citi Rewards+® Card

  • On Citibank's Secure Website

$0

13.49% - 23.49% (Variable)

Excellent/Good

  • The Citi Rewards+® Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
  • Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com
  • 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. Balance transfer fee — either $5 or 3% of the amount of each transfer, whichever is greater.
  • Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X ThankYou® Points on All Other Purchases.
  • The standard variable APR for Citi Flex Plan is 13.49% - 23.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

Earn 15,000 bonus points

New cardholders can Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com.

This is a relatively low-value sign-up bonus, even for a credit card with $0 annual fee. You can find no-annual-fee travel credit cards with bonuses worth $200 in travel spending and no-annual-fee cashback cards with $200 cash bonuses — and they have similar or even lower minimum spend requirements. The fact that redeeming ThankYou points for cash back significantly decreases their value also makes this bonus less attractive. That being said, it's better than no bonus at all.

What it's worth: This bonus is worth $150 when you redeem your points for gift cards or flights through Citi's ThankYou portal. Other options, such as cash back, online shopping and statement credits will yield a lower value.

Who's eligible to earn this offer?: You're eligible for this sign-up bonus as long as you haven't received a welcome bonus in the past 24 months from any of the following cards: Citi Rewards+® Card, Citi ThankYou® Preferred Card, Citi ThankYou® Premier/Citi Premier® Card, or Citi Prestige® Credit Card. If you've closed any of these cards in the past 24 months, you also won't be eligible.

{"backgroundColor":"ice","content":"\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cstrong\u003EWhat it's worth:\u003C\/strong\u003E This bonus is worth $150 when you redeem your points for gift cards or flights through Citi's ThankYou portal. Other options, such as cash back, online shopping and statement credits will yield a lower value.\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cstrong\u003EWho's eligible to earn this offer?:\u003C\/strong\u003E You're eligible for this sign-up bonus as long as you haven't received a welcome bonus in the past 24 months from any of the following cards: Citi Rewards+® Card, Citi ThankYou\u00ae Preferred Card, Citi ThankYou\u00ae Premier\/Citi Premier\u00ae Card, or Citi Prestige\u00ae Credit Card. If you've closed any of these cards in the past 24 months, you also won't be eligible.\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}

Earn 2X points at supermarkets and gas stations

With the Citi Rewards+® Card, you'll Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X ThankYou® Points on All Other Purchases.

If you max out the $6,000 per year spending cap at supermarkets and gas stations, you'll earn 12,000 ThankYou points, which are worth $120 in gift cards. It's not nothing, but most people will see more earning potential with another card.

The table below shows the rewards value earned per dollar spent for the average shopper. You'll notice the Citi Rewards+® Card offers the lowest value of any card on the list. This isn't surprising considering the card's limited bonus spending categories (it only has two, and there's a $6,000 spending cap) and underwhelming earn rate. Consider that the Citi® Double Cash Card – 18 month BT offer, for example, earns an unlimited 2% back on all purchases and also has a $0 annual fee.

Average rewards earned per $1 spent

$0.044
American Express® Gold Card
$0.03
American Express® Green Card
$0.025
Chase Sapphire Preferred® Card
$0.02
Capital One Venture Rewards Credit Card
$0.02
Chase Freedom Unlimited®
$0.02
Citi® Double Cash Card – 18 month BT offer
$0.017
Citi Prestige® Credit Card
$0.014
Citi Rewards+® Card

How does Citi’s roundup feature work?

While the earn rate on the Citi Rewards+® Card isn't spectacular, Citi's roundup feature gives your earning power a good boost. Every time you make a purchase with your Citi Rewards+® Card and earn ThankYou points, your point earnings will be rounded up to the nearest 10.

For example, if you were to spend $22 at the gas station, the 2X bonus would get you 44 points. With Citi's roundup feature, you'll actually earn 50 points on that purchase. If you spend $239 at the grocery store and get 478 points, you'd actually earn 480 points for that purchase. A $5 coffee would normally get you 5 points, but the roundup feature will bump your earnings for that purchase up to 10 points.

As you can see, this feature adds a lot more value if you use your Citi Rewards+® Card for lots of small purchases rather than infrequent larger purchases.

What are Citi Rewards+® Card points worth?

On average, the points you earn with the Citi Rewards+® Card are worth 0.8 cents each. Their actual value ranges from 0.5 cents to 1.0 cent each depending on how they're redeemed. As mentioned, you can redeem your points for gift cards through Citi's ThankYou portal at a rate of 1.0 cent each. However, if you redeem them for cash back or statement credits, you'll only get 0.5 cents per point. If you can get 1.0 cent per point, that represents a fairly average value as far as credit card rewards go.

If you also hold the Citi Premier® Card or the Citi Prestige® Credit Card, you have the option to transfer your ThankYou points to 12+ airline loyalty programs at a 1:1 rate. This has the potential to more than double the value of your points, given that you can often squeeze over 2.0 cents per mile out of airline miles.

Value: Average

Ease of redeeming: Above average

{"backgroundColor":"ice","content":"\u003C\/p\u003E\n\n\u003Ch3 id=\"What\"\u003EWhat are Citi Rewards+® Card points worth?\u003C\/h3\u003E\n\n\u003Cp\u003EOn average, the points you earn with the Citi Rewards+® Card are worth \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Citi ThankYou\u00ae Points: What Are They Worth?\" href=\"https:\/\/www.valuepenguin.com\/travel\/citi-thankyou-points\"\u003E0.8 cents each\u003C\/a\u003E\u003C\/span\u003E. Their actual value ranges from 0.5 cents to 1.0 cent each depending on how they're redeemed. As mentioned, you can redeem your points for gift cards through Citi's ThankYou portal at a rate of 1.0 cent each. However, if you redeem them for cash back or statement credits, you'll only get 0.5 cents per point. If you can get 1.0 cent per point, that represents a fairly average value as far as credit card rewards go.\u003C\/p\u003E\n\n\u003Cp\u003EIf you also hold the \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Citi Premier\u00ae Card: Top Tier Travel Rewards Card\" href=\"https:\/\/www.valuepenguin.com\/travel\/citi-thankyou-premier-credit-card\"\u003ECiti Premier\u00ae Card\u003C\/a\u003E\u003C\/span\u003E or the \u003Cspan\u003E\u003Ca class=\"ShortcodeLink--root ShortcodeLink--black\" title=\"Citi Prestige Card: Is It Right for You?\" href=\"https:\/\/www.valuepenguin.com\/travel\/citi-prestige-card\"\u003ECiti Prestige\u00ae Credit Card\u003C\/a\u003E\u003C\/span\u003E, you have the option to transfer your ThankYou points to 12+ airline loyalty programs at a 1:1 rate. This has the potential to more than double the value of your points, given that you can often squeeze over 2.0 cents per mile out of airline miles.\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cstrong\u003EValue:\u003C\/strong\u003E Average\u003C\/p\u003E\n\n\u003Cp\u003E\u003Cstrong\u003EEase of redeeming:\u003C\/strong\u003E Above average\u003C\/p\u003E\n\n\u003Cp\u003E","padding":"double"}

Redeeming points

You can get anywhere from 0.5 cents to 1.0 cent each from your Citi Rewards+® Card points depending on how you redeem them.

While cash back might seem the most convenient redemption option, it splits your point value in half when compared to the best redemption options — gift cards, flights, mortgage/student loan payments and charity donations. Shopping with your points through Amazon and Apple is better than cash back but still not the best redemption option.

The option to redeem your points to pay off a mortgage or student loans is a unique and decently lucrative one. You'll need to redeem at least 2,500 points, which will get you $25 toward your loans. You can redeem up to 100,000 points, which gets you $1,000. The payout is issued in the form of a check payable to your lender. This is one of a few handy perks of the Citi ThankYou program.

money icon

You can get more than 1.0 cent per point by transferring your ThankYou points to one of Citi's transfer partners, but you'll need to be a Citi Prestige® Credit Card or Citi Premier® Cardholder. Luckily, these are two of the best Citi credit cards. If you have one of those two cards, you can transfer your points to a long list of frequent flyer programs at a 1:1 rate and then use those miles to book award flights. This is one of the best ways to redeem Citi ThankYou points.

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Citi's ThankYou portal makes it simple to redeem your points through any of these methods. If you want gift cards, for example, you simply add the desired gift card to your cart and complete a brief checkout process. In most cases, you can only redeem points for gift cards in $25 denominations, meaning you have to redeem at least 2,500 points at a time.

Citi ThankYou points value

Usage
Example
Value per point
Cash back$50 cash back: 10,000 points0.5 cents
Gift cards$25 Best Buy gift card: 2,500 points1 cent
Redeem for flights$450 fare: 45,000 points1 cent
Mortgage/Student loan payment$25 payment: 2,500 points1 cent
Charity donation$25 donation: 2,500 points1 cent
Shopping$829 Apple iPad mini: 100,000 points0.83 cents
Statement credit$10 statement credit: 2,000 points0.5 cents
Amazon$80 purchase: 10,000 points0.8 cents

Other Citi Rewards+® Card benefits

While this card isn't packed with extra perks like its counterparts with an annual fee are, it does come with a couple of potentially useful benefits aside from the rewards.

The Citi Rewards+® Card comes with an intro APR of 0% for 15 months on purchases and 0% for 15 months on balance transfers. This isn't the longest intro 0% APR period, but it is generous enough to come in handy if you want to finance a purchase or pay off debt with this card. Keep in mind that once the intro period ends, the card's APR jumps back up to the ongoing rate. This means that any remaining balance will be charged a 13.49% - 23.49% (Variable) APR, which is quite high. These 0% intro APR offers are best used when you can be sure to pay off the balance in full before the end of the intro period.

Your Citi Rewards+® Card may come with a Citi Flex Plan or Citi Flex Loan offer. These Citi Flex Plans essentially let you use your credit card's existing credit line like a loan. You can either pay back eligible purchases at a fixed interest rate (Citi Flex Plan) or access a set amount of cash at a fixed interest rate and then pay it back according to a predetermined payment timeline (Citi Flex Loan). You don't have to fill out any applications, and if you're accessing cash with a Citi Flex Loan, you can get your funds in as little as one business day.

How does the Citi Rewards+® Card compare to other cards?

The Citi Rewards+® Card has a little bit of everything — travel rewards, cash options a 0% intro APR. However, it doesn't excel in any of these areas when compared to the competition. Here are three cards that might be better suited for your needs.

Citi Rewards+® Card vs. Citi® Diamond Preferred® Card

  • On Citibank's Secure Website

You won't earn any rewards with the Citi® Diamond Preferred® Card. However, if you're just looking to finance a purchase or pay off debt at a low interest rate, this is one of the best cards to do it with. It comes with an intro APR of 0% for 18 months on Purchases and 0% for 18 months on Balance Transfers, making it one of the longest 0% APR offers out there (after that, your APR will be 14.74% - 24.74% (Variable). This is three months longer than the 0% introductory period on the Citi Rewards+® Card.

Citi Rewards+® Card vs. Chase Freedom Unlimited®

  • On Chase's Secure Website

The Chase Freedom Unlimited® earns cash back, which is more flexible than the ThankYou points you earn with the Citi Rewards+® Card, and most people will earn rewards at a higher rate with the Chase Freedom Unlimited®. With this card, you Earn 5% cash back on travel purchased through Chase, 3% on dining and drugstores, and 1.5% on all other purchases.

If you spend $6,000 per year on supermarkets and gas, the Citi Rewards+® Card might be a better option. However, if you tend to spend a lot on dining and drugstores, the Chase Freedom Unlimited® is a clear winner. It also comes with a bigger welcome bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

Citi Rewards+® Card vs. Citi® Double Cash Card – 18 month BT offer

  • On Citibank's Secure Website

The Citi® Double Cash Card is often hailed as the best all-around cashback card, and for good reason: You Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. With a flat-rate of 2% cash back, the Citi® Double Cash Card out-earns the Citi Rewards+® Card in almost all circumstances. It also comes with a better offer for folks who are paying off debt — you'll get an intro APR of 0% for 18 months on Balance Transfers (then 13.99% – 23.99% (Variable).

Is the Citi Rewards+® Card worth it?

The Citi Rewards+® Card offers a decent rewards rate and a points system that's easy to understand and gets cardholders average value on most redemptions. When you throw in the welcome bonus and the 0% intro APR, it's not a bad card, but it's not the best in any of these categories either.

If you want to earn big, there are better rewards credit cards for both travel junkies and cashback lovers. If you want a low intro APR, you can find 0% APR and balance transfer offers with longer introductory periods. However, if you're collecting Citi ThankYou points — particularly if you have a card that lets you transfer points to an airline partner — the Citi Rewards+® Card might be worth it.

The information related to American Express® Green Card and Citi Prestige® Credit Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Elizabeth Aldrich is a personal finance writer specializing in credit cards, student loans, financial planning, and small business. Her work has appeared on The Motley Fool, Business Insider, Yahoo! Finance, and Bankrate. She’s an avid credit card points collector and ex-business traveler who now enjoys frequent trips abroad for leisure.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

  • On Citibank's Secure Website