Did I Just Make the Stupidest Credit Card Decision Ever? (Maybe!)
Hey everyone, Phillip here with Points of Phillip! Today, I'm diving into what might be the dumbest thing I've ever done with my credit cards. But stick with me, because I think it might actually be a stroke of genius!
Recently, I messaged Citi and closed my Citi Custom Cash card.
Why the Citi Custom Cash Was Awesome
No Annual Fee: Always a plus!
Great Signup Bonus: A solid way to kickstart your rewards.
Revolving Categories: Earn 5x ThankYou Points per dollar on up to $500 spent in a specific category each month. Great for gas, groceries, and some travel.
Many credit card YouTubers (myself included) consider this one of the best cards out there, making Citi a compelling issuer.
The Game Changer: Citi's American Airlines Transfer News!
Here's where things get interesting. I recently came off a signup bonus binge, racking up nearly a million points! My initial plan was to use:
Venture card for most purchases
Mesa card for homeowner stuff
Amex Gold card for dining and non-Walmart groceries
Then Citi dropped a bomb: They're now allowing 1:1 transfers to American Airlines for Citi Strata Premier and Strata Elite cardholders!
This changed EVERYTHING.
Why I Product Changed to the Citi Strata Premier
I decided I no longer needed the Citi Custom Cash and that I'd hold the Citi Strata Premier. This card is so compelling, it might even replace my beloved American Express Gold as my go-to!
Let's break down the Citi Strata Premier:
Signup Bonus: 60,000 bonus points after spending $4,000 in the first 3 months. Sadly, I couldn't get this bonus due to recent applications. But, because I product changed my Citi Custom Cash, I can get the signup bonus moving forward.
Annual Fee: $95
Earning Multipliers (The Good Stuff!)
3x points per dollar on air travel and hotels
3x points per dollar at restaurants
3x points per dollar on gas and EV charging
3x points per dollar at supermarkets
1x point per dollar on everything else
10x points per dollar on hotels, car rentals, and attractions booked on cititravel.com.
The earning potential is INSANE! For a $95 annual fee, I'm getting almost the same multipliers as the Chase Sapphire Reserve. This could make it more compelling than the American Express Gold card.
I can now transfer my points to JetBlue, Virgin Atlantic, Cathay Pacific, EVA Air, Choice Hotels, Leading Hotels of the World, AND American Airlines.
My New Strategy: ALL IN on American Airlines
I earned 80,000 points by getting the signup bonus plus another 12,000 points. I currently have 92,000 American Airlines points. I will try to put as much spend on this as possible.
Why American Airlines?
American Airlines has insane value, especially when traveling internationally. I used PointsYeah to explore options, finding incredible deals like:
Domestic First Class to Denver for 18,000 points
Business Class to Barbados for 20,000 points
Business Class to Japan (Osaka) for 60,000 points on JAL!
Business Class to Manila, Philippines for 70,000 points
70,000 points from LaGuardia to O'Hare to Narita International (Chicago to Narita is a 12 hour 45 minute flight!) This insane value is why I care about American Airlines.
Anywhere in the world, you are not paying more than 100,000 points for a ticket.
A 12-hour flight in JAL business class for just 60,000 points? That's worth ditching my Amex Gold for!
The Verdict: Genius or Insanity?
So, did I make a crazy mistake by ditching the Citi Custom Cash? Maybe. But with Citi's recent announcement and the incredible value I'm seeing with American Airlines, I think this could be a game-changer.
What do you think? Let me know in the comments below!