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The premium card war created incredible benefits for consumers, but as the war has waged onward, we’ve seen credit card issuers start to dial back benefits. When the Citi Prestige hit the market it debuted benefits like free rounds of golf, 1.6 cent redemption on AA flights, incredible 4th night benefits, and if not the best travel protections – in the conversation. Since then, we’ve seen many of those benefits dialed back, and come July 29, 2018 we’ll see more devalued. Here’s a quick list.
Starting July 29th, 2018
- $500 Trip Delay starting at 6 hours ( This puts it in equal footing with the Reserve)
- currently 3hours
- ONLY Family members ( see Citi for details on this)
- Companions currently covered – so girlfriends, boyfriends, friends, work colleagues etc.
- $5000 Trip Cancellation ONLY family members
- Companions are currently covered
- Car Rental Coverage dropping to $75k
- Currently $100k
- Additionally ( BIG ONE ) loss of use, diminished value to the rental car, or additional fees and taxes are not covered
- I use my Chase Sapphire Reserve for all rental cars
- Damage and Theft will become secondary insurance
- 90 Day return protection drops to 90 days and $1500 a year
- Currently 120 days and $2500
- Citi Price Rewind reduced to $1000 a year and max benefit drops to $200 per item
- currently $2500 a year
- Max benefits per item will be the lesser of $200 or the amount charged to the Citi Prestige – down from $500 currently
- The maximum benefit per calendar year per account will be reduced to $1000, from the current $2500
So is Prestige still worth it?
I’ve been a Prestige holder for nearly two years and have gotten tons of value out of it. The $250 annual airline credit knocks the annual fee down considerably. I picked up the card when I was Citi Gold so my fee is actually $350 vs the standard $450. That means I only need get $100 of value out of the 4th night free benefit and I’m ahead on value every single year.
Add in transfer partners like Singapore Airlines, Cathay Asia Miles, and the newly added Avianca, and there are many ways to extract value.
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
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