The Citi Premier card is going through some major changes in the coming months. This article will show you exactly what's going to change with the card and what you should expect.
Starting March 7, the first section of this credit card will be opening up just three weeks early. The second section, scheduled to open a month later, is set to open on April 10. The second part of the credit card is going to be releasing almost three months early as well, so it will be opening up on June 2nd, 2020.
The last part of the credit card, set to open on April 10th, will also release just one month early. The card is still a premier, but now comes with three additional benefits that are aimed at increasing credit usage. The three different types of benefit plans are named as: Reward, Premier, and Traveler. Each of these plans are targeted towards a certain type of consumers.
Reward. This plan focuses on giving you a specific amount of money as rewards for your purchases each month. With this plan, the money you earn will have to be used on purchases you make on credit. Most of the time, this plan is given out on the second page of a credit card. You may want to keep this option on your credit card if you're not going to use it too much, since it gives you more spending power. If you only use this credit card on purchases you make for credit purposes, then this plan may not be for you. This plan can work for people who are on a strict budget, since it does not allow you to charge over the limit with this card.
Premier. This plan allows you to use the money earned from this plan towards your monthly payments on your primary credit card. You will earn a certain amount of money every month based on how much you owe on that account. For example, if you have fifteen thousand dollars in outstanding credit card debt, you can earn three thousand dollars in money each month. In order to earn the maximum benefit, you should pay off your current balance as soon as possible to increase the benefit.
Traveler. This plan works like the Premier plan, but does not require you to use all of your money towards your monthly payments. As long as you are able to make your payment to your primary card each month, you will earn points towards airline miles you can use each month.