Citi Prestige card now offers cellphone insurance for cardholders


Citi Prestige cardholders are now covered for theft or damage of cellphones that they fund with their Prestige card.

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Citi cardholders take note: Citi has just made a valuable update to its Citi Prestige card. Starting May 1, 2019, cardholders are entitled to cellphone insurance for phones funded by the card. As long as you use your Prestige card to pay your monthly cellphone bill, you are covered for theft or damage of up to five phones, up to $1,000 per claim, up to $1,500 per year.

The update is one of many that Citi has made to the Prestige card since the beginning of the year, with more changes to come.

Earn 5x points on dining and air travel

The Citi Prestige card updated its rewards rate on Jan. 4 to offer 5 points per dollar on dining and air travel, 3 points per dollar on cruise lines and hotel purchases and 1 point per dollar on everything else.

See how the updated rewards rate compares to the previous offer:

Updated offerPrevious offer
  • 5 points per dollar on dining and air travel
  • 3 points per dollar on cruise lines and hotel purchases
  • 1 point per dollar on general purchases
  • 3 points per dollar on air travel and hotels
  • 2 points per dollar on dining and entertainments
  • 1 point per dollar on general purchases

Additional card changes include:

$250 annual travel credit – Instead of being limited to air travel, the $250 annual credit has been expanded to include all eligible travel purchases, such as taxis, hotels, car rentals, parking tolls and more.

Not all changes are positive ones

Along with the removal of the 2-point bonus on entertainment purchases, Citi Prestige cardholders can expect a few negative changes, including:

Devalued points redemption – Cardholders no longer receive a 25-percent bonus when they redeem their ThankYou points for air travel. Meaning – each point will be worth 1 cent (instead of 1.25 cents) when redeemed for travel through Citi’s travel portal.

Annual fee increase – The already high annual fee of $450 has increased to $495. Additionally, an authorized user fee of $75 will be implemented. Note, these changes will not apply to cardholders who are Citigold and Private Bank clients.

Capped complimentary fourth night benefit – Instead of having the ability to use the fourth night benefit multiple times throughout the year, cardholders will be limited to using the benefit up to two times annually starting Sept. 1, 2019.

Is the updated Citi Prestige card worth it?

Though the card’s 5-point bonus on dining and air travel is exceptionally high, other updates – especially the point devaluation and annual fee increase – mean that the card may not make sense for every user. Cardholders on a moderate budget simply looking to earn points for free travel should check out the Citi Premier℠ Card, which features a 25-percent bonus on airfare travel redemptions and a much lower annual fee.

For luxury travelers, however, the Prestige card does offer some very noteworthy benefits, including lounge access, top-tier travel insurance and a free fourth night benefit, which – even with a cap – can easily outmatch the card’s annual fee.

See related: Guide to earning and using Citi ThankYou points, Earn up to 50,000 bonus point with the Citi/AAdvantage World Elite cards

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Published: May 1, 2019

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