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While the Citi Premier® Card is a great card, Amex Gold offers even better benefits, offsetting the higher annual fee. Here are five reasons why you should consider switching from a Citi Premier® Card to an Amex Gold Card:
Compare the American Express® Gold Card and the Citi Premier® Card
Credit statement can make annual fees worthwhile
The primary deterrent to switching from a Citi Premier to an Amex Gold Card is likely the higher annual fee. The Amex Gold Card has an annual fee of $250 and Citi Premier’s $95. Cardholders receive up to $120 in Uber Cash to use on Uber Eats orders or Uber rides in the US and up to $120 in annual restaurant credits for select merchants each calendar year. Both are dispersed as a monthly $10 credit.
Citi Premier offers an annual $100 hotel savings benefit when you spend $500 on a single hotel reservation when you book through thankyou.com or 1-800-Thanks. While this is still a solid benefit for a card with an annual fee of $95, the credit starts after tax. This reduces the overall savings to a great extent. Amex Gold monthly credits are more practical because they apply to a common spending category that most people can take advantage of.
Four more than three
The rewards of the Amex Gold Card are much better than those of Citi Premier. Amex Gold offers 4 Membership Rewards® points per dollar at restaurants, in addition to takeout and delivery in the US, 4 Membership Rewards® points per dollar at US supermarkets (up to $25,000 per calendar year in purchases, then 1 point per dollar), 3 Membership Rewards® points per dollar on flights booked directly with airlines or through American Express Travel and 1 point per dollar on other eligible purchases.
Meanwhile, Citi Premier offers 3 ThankYou points per dollar at restaurants, supermarkets, gas stations, air travel, and hotels and 1 ThankYou point per dollar on all other eligible purchases. You could argue that 3 points on air travel and a hotel reward is better than the more restrictive Amex Gold reward. However, given that Amex Travel bookings through Fine Hotels & Resorts and The Hotel Collection include additional perks and royal credits, it may actually be better than booking direct.
It’s also worth noting that points earned through Amex Gold may be easier to use than with Citi ThankYou Rewards. That’s because the Amex Membership Rewards program has more US-based relocation partners than Citi.
Amex shows have been impressive last year
Many banks offer exclusive discounts and statement offers to their cardholders. Simply add rotating deals to your account, use your card and get a good chunk of change back. However, these deals aren’t always great and rarely go above 10% cashback.
Amex offerings are a major exception to the rule. Amex cooperates with many popular retailers to offer great discounts, which are available to Amex Gold card holders. You can see up to 100 trades at once when you log into your Amex account. Bonus deals are usually filled in when they are added to your card.
Amex’s offerings have been pretty impressive over the past few years. In the past year alone, I’ve saved over $2,000 on daily purchases through Amex Deals. Deals ranged from 20% off hotel reservations, cash back on my cell phone, utility bills, and insurance. Amex’s offerings are largely unmatched in terms of the quality of merchants as well as the number of offerings.
Citi has their own merchant offer program and some of the deals can be great, but in my experience, they don’t quite match up to Amex’s offering. This is another reason you should consider Amex Gold over the Citi Premier.
Amex offers purchase protection, but Citi doesn’t
In 2019, Citi shocked customers by eliminating all travel and purchase protections on their credit cards. Victims include valuable benefits such as worldwide rental car insurance, trip cancellation and interruption protection, travel accident insurance, baggage delay coverage, Citi Price filings and an extended warranty, to name a few.
While most consumers do not use these benefits often, they have been highly valued in certain circumstances. Many people have saved money with Citi Price Rewind, baggage delay coverage, and extended warranty benefits. These services come in handy in stressful circumstances and their discontinuation has been a huge blow to Citi clients.
The lack of protection means that you probably shouldn’t place large purchases (travel or otherwise) on your Citi credit cards anymore. The last thing you want is to spend thousands of dollars on a trip and end up in the hole because you don’t have travel insurance to get the cost back when you cancel it. The same goes for buying expensive items such as laptops, phones, and electronic devices.
American Express continues to offer an impressive array of travel and purchase protections on cards like Amex Gold – with no additional fees. This is just one of many reasons why you might want to switch from Citi Premier to Amex Gold.
Membership Rewards welcome offer will go a long way
In addition to earning more rewards and getting a large number of card privileges, the Amex Gold Card comes with a great feature: a welcome bonus. The card currently offers 60,000 Membership Rewards points after spending $4,000 on purchases in the first six months of card membership.
It’s a similar bonus to the Citi Premier Card, however, the points are more valuable. With over a dozen hotel and air transportation partners, you have plenty of options to redeem your welcome bonus.
One of my favorites is the ANA miles Club award ticket to Europe, which costs 55,000 miles round trip in economy class and 88,000 in business. These rates are much cheaper than other Star Alliance partners such as United milesPlus and Avianca Lifemiles.
If you are going from Citi Premier to Amex Gold, be sure to redeem your Citi ThankYou points first. If you do not use it or transfer it before closing the account, you will lose the balance.
Find the best credit cards of 2022
No single credit card is the best option for every family, every purchase, or every budget. We have selected the best credit cards in a way that is designed to be the most beneficial to the largest variety of readers.
When it comes to earning valuable rewards, it is understandable to choose a card with a low annual fee. But it’s important to be aware of your options and compare the benefits of a high annual fee card to make sure you get the most value for your money.
The Citi Premier is a great card, but the lack of travel and purchase protection can make generous tier rewards less valuable. If you want a credit card with a solid welcome bonus, lucrative tier bonuses and valuable rewards, then Amex Gold might be a better fit for you than Citi Premier.
To view rates and fees for the American Express® Gold Card, please visit this page.