We’ve often cited Citi Prestige® Card as “Best in Class” for a number of cardholder benefits. The card isn’t particularly great for airfare redemptions on earned points. And it is downright bad for cash back redemptions. However, the card’s competitive advantage lies in its prolific and generous travel and shopping benefits.
Unfortunately, this competitive advantage is about to get a lot less competitive. On July 29, 2018, seven major benefits changes will go into effect for the Citi Prestige Card. Expect big changes when it comes to Purchase Protection, Price Protection, Return Protection, Trip Cancellation & Interruption Protection, Trip Delay Protection, Auto Rental Collision Damage Waiver, and Baggage Delay Protection. We outline these changes below.
Purchase Protection
When you charge your purchase to the Citi Prestige Card or use ThankYou® points, you are automatically entitled to Purchase Protection. Purchase Protection is an insurance that covers specific purchased items if they are lost, stolen, or accidentally damaged within a specified period after the date of purchase. In the event of such loss, your credit card company may cover the repair of the item, replacement of the item, or reimbursement for the item. We’ve previously named Citi Prestige Card “Best in Class” for Purchase Protection.
However, starting July 29, Citi Prestige Card will no longer offer Purchase Protection as primary coverage (meaning you will need to go through your regular insurance). It will now be secondary insurance, putting it in line with other elite credit cards. The card is also expanding its list of excluded items, namely jewelry, watches, and tires, again putting it in line with other elite credit cards.
Price Protection
Price Protection (known as Citi Price Rewind for Citi Card holders) is an insurance that covers price drops, insomuch that cardholders can be reimbursed the difference in price on most products if recorded at a lower price in a printed advertisement at any retail store or nonauction Internet advertisement. Citi has the most generous Price Protection policy we know of. Special promotions such as Black Friday and doorbuster sales are honored.
Starting July 29, lower prices will not be matched to prices offered at membership fee–based warehouse clubs. In addition, the maximum coverage per item is plummeting from $500 to $200. And the amount of coverage provided annually is dropping from $2,500 to $1,000.
Return Protection
Every elite credit card comes with a form of Return Protection, which provides reimbursement of a personal item if you are dissatisfied with it and the retailer won’t accept the return within 90 days of purchase. Essentially, Return Protection extends the return policy of your purchase threefold in many cases. We’ve previously named Citi Prestige Card “Best in Class” for Return Protection.
From July 29 onward, Citi Prestige Card will reduce the maximum coverage per year from $2,500 to $1,500. The maximum coverage per item will remain at $500. The card is also expanding its list of excluded items, namely jewelry, furniture, and tires, putting it in line with other elite credit cards.
Trip Cancellation & Interruption Protection
When charging airline tickets, pre-paid travel, a tour, or a vacation to the Citi Prestige Card or use ThankYou points, implicit Trip Cancellation and Interruption insurance policies compensate loss for certain sickness, injury, death, airline bankruptcy, or weather-related issues. Coverage is provided up to $5,000 per trip.
Currently, the cardholder, cardholder’s family members, and traveling companion(s) traveling on a cardholder’s or family members’ trip are provided this protection. From July 29 onward, Citi Prestige card will remove travel companion(s) from this list.
Auto Rental Collision Damage Waiver
When you pay for your rental car with your Citi Prestige card, are listed on the rental contract, and decline the rental company’s CDW/LDW, you are automatically covered for rental collision damage protection. This coverage also applies when booking a rental car using ThankYou points.
From July 29 onward, Citi Prestige Card will reduce its coverage from up to $100,000 to $75,000.
Trip Delay Protection
When you charge your trip’s entire common carrier fare to your Citi Prestige Card or use ThankYou points to book travel, you are automatically covered for Trip Delay Protection. As the name implies, this benefit kicks in when your trip, such as your flight, is delayed. Coverage provided is up to $500 per ticket.
Currently, a delay is considered more than three hours. From July 29 onward, protection will not kick in until a delay of six hours or more.
Currently, the cardholder, cardholder’s family members, and traveling companion(s) traveling on a cardholder’s or family members’ trip are provided this protection. From July 29 onward, Citi Prestige card will remove travel companion(s) from this list.
Lost Luggage Protection
When you charge a portion of your trip’s common carrier fare to your Citi Prestige Card or use ThankYou points to book travel, you are automatically covered for Lost Luggage Protection. Citi Prestige has the most generous policy in terms of items covered. While other cards shy away from coverage of high-risk items like jewelry, cameras, and other electronics, Citi Prestige does not.
Coverage provided is up to $3,000 per covered person ($2,000 per bag for NY residents). For a trip with multiple bags lost over multiple covered persons, coverage maxes out at $10,000 per trip.
Currently, the cardholder, cardholder’s family members, and traveling companion(s) traveling on a cardholder’s or family members’ trip are provided this protection. From July 29 onward, Citi Prestige card will remove travel companion(s) from this list.
