ThankYou Authorized User Offer
Citi is sending out a new targeted offer for ThankYou Premier & ThankYou Preferred cardholders giving a 5,000 point bonus for adding an authorized user and meeting a spending requirement. Let’s take a look at the deal and whether or not it is worth doing.
Add an authorized user and spend $1,000 or $2,000 in purchases to receive 5,000 bonus ThankYou® Points by 06/30/2016.
This offer starts upon enrollment and will end on 06/30/16. If you add an authorized user, you must pay us for all charges made or allowed by the authorized user. Authorized users are able to get account information, request statement copies and replacement cards. Before adding him or her to your account you must let the authorized user know that we may report account performance to the credit reporting agencies in the authorized user’s name. You also need the authorized user’s permission to give us any information about him/her that we request and to allow us to share information about him or her. Earnings associated with this program will equal 5,000 bonus ThankYou® Point(s) after you add an authorized user and spend $1,000 on purchases, and may overlap with other special offers in which you are currently enrolled. Purchases exclude balance transfers, cash advances, convenience checks, items returned for credit, fees and interest charges. All purchases must be posted during the promotional period. Earnings associated with this bonus offer are limited to the addition of only one authorized user. ThankYou® Points earned will be posted to the primary cardmembers’ account in 1-2 billing cycles.
This offer appears to be targeted since I didn’t receive it, but my wife did. Also, they seem to be sending out different spending requirements. For example, my wife received the offer with a $1,000 spending requirement, but Julian the Devil’s Advocate (and author of Bet You Didn’t Know) along with a reader received the offer with a $2,000 spending requirement.
The ThankYou Premier card earns 1X on all purchases, 2X on dining and entertainment and 3X on gas and travel. Since I can earn 5% back right now on dining and entertainment with Discover, I’ll look at the 1X and 3X categories.
- Non-bonused: 6,000 points for $1K spend or 6X
- Travel or gas: 8,000 points for $1K spend or 8X
- Non-bonused: 7,000 points for $2K spend or 3.5X
- Travel or gas: 11,000 points for $2K spend or 5.5X
You can use the same 1X math for the ThankYou Preferred.
Since the ThankYou Premier unlocks the ability to transfer points to partners and also allows for travel bookings at 1.25 cents each, I would estimate the value of this bonus at $62.50 at least. Since I have the Prestige, my wife normally transfers points to me for booking on American Airlines where we can redeem at 1.6 cents each. That brings up the value to about $80. With the ThankYou Preferred the value may be less depending on whichever other Citi cards you have, but 5,000 points is worth $50 in gift cards at the very least.
It is nice to see Citi sending out targeted offers, considering their recent changes including the tightening of their bonus rules and removal of bonuses on a couple of cards. Did you receive this offer? Which version did you get? Let us know in the comments!